Vehlo buys Rapid Recon and Velocity Automotive
The acquisitions by Vehlo now extends its dealership fixed ops customer experience suite beyond the customer-pay side of dealer service operations.
Ford job cuts in Europe: Where the ax will fall
Ford’s plans to cut thousands of jobs, mostly in product development, triggered a union threat of Europewide disruption.
U.S. closes Ford Explorer exhaust probe without seeking recall
NHTSA said it conducted an in-depth investigation that included review of more than 6,500 consumer complaints from 2011-2017 model year vehicles. The investigation found issues with dealers, government fleets and others modifying the Police Interceptor vehicles.
Ally sets revenue record in 2022, but auto finance income down
Ally interim CFO Bradley Brown told a Q4 2022 earnings call the bank had increased consumer auto interest rates by 3.95 percentage points in 2022, and yields on auto interest had risen.
ZF plans $3B German plant with U.S. partner to make chips for EVs, report says
ZF will build the plant with Wolfspeed, a U.S. company that makes chips that can boost the range of EVs by as much as 15 percent with faster charging compared to conventional silicon chips, Bloomberg reported.