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The company said it also decided to eliminate investment in its dealer marketplace business to focus on its core operations.

With a marketing, operations and strategy background at established auto brands, Gruner could help the electric upstart in various capacities.

Generation Z and millennial borrowers are falling behind on their car payments at rates last seen during the Great Recession era, according to an analysis of Federal Reserve data. The budget burden of federal student loan payments could hit borrowers’ credit further.

Toyota Motor Corp. said it is recalling certain 2023 model year Toyota Corolla, Corolla Cross, Corolla Cross hybrid, Highlander, Highlander hybrid, Tacoma, Lexus RX and RX hybrid and 2024 model year NX and NX hybrid vehicles.

Toyota spokesperson Josh Burns on Wednesday said about 118,000 vehicles are included, “with approximately 110,000 of those in the U.S.”

In affected vehicles, the spiral cable assembly in the steering column may lose electrical connection on the circuit controlling the driver’s airbag.

If loss of electrical connection occurs, the airbag warning light will illuminate, and the driver’s airbag may not deploy in a crash. Vehicles will not comply with certain federal motor vehicle safety requirements as a result, which may increase risk of injury to the driver in a crash.

Toyota declined to comment on injuries, accidents or deaths that could have resulted from the safety issue.

For all recalled vehicles, Toyota and Lexus dealers will inspect the serial number of the spiral cable and replace it with a new cable if necessary. Both procedures are available at no cost to customers. read more

Hyundai’s high-performance Ioniq 5 N goes 641 hp in boost mode and can corner, drift and shift like a gasoline-powered race car.