automakers

Win on Sunday, sell on Monday still a goal for automakers

DETROIT (AP) — Rick Hendrick erased any doubt that marketing in motorsports is still effective when his automotive sales group bought the sponsorship rights through 2023 for NASCAR title contender Kyle Larson.



a group of people in uniform


© Provided by The Canadian Press


With few companies willing to back Larson upon his return from a nearly yearlong suspension for using a racial slur, Hendrick put the website for his dealerships on the hood of Larson’s car. Larson started winning races, which company officials say drove traffic to HendrickCars.com that netted $1.8 million in leads and over $5 million in television exposure.

“We’re having the best year we’ve ever had,” said Hendrick, owner of the largest privately held dealership in the country. “The market is blazing.”

When motorsports began to gain mainstream traction in the 1980s, the motto for auto dealers was always “Win on Sunday, sell on Monday.” But the economic downturn of 2008

Read More

What you need to know about electric vehicles as President Biden, automakers announce EV goals

Gas will be out of gas if President Biden has his way.

The White House on Thursday announced a goal of making half of all new cars, trucks and SUVs sold in the U.S. zero-emission vehicles by 2030, including battery-powered electric vehicles and hydrogen fuel cell cars.

The goal drew support from the automotive industry’s largest players, including General Motors, Ford, Toyota, Honda, Volkswagen and Stellantis, the company formerly known as Fiat Chrysler. Supporters of Biden’s electric vehicle plan manufacture and sell the world’s most popular gas-powered vehicles, from the Ford F-150 pickup to the Toyota RAV4 SUV and the Honda Accord sedan.

Biden promoted the transition from gas to electric vehicles as crucial to combating climate change, which is worsened by emissions from internal combustion engine (ICE) vehicles.

But getting from here to there will take years and involves numerous challenges.

► Charging access poses hurdle: More electric

Read More

V6 engine cars going away: Automakers discontinue 6-cylinder cars

These days, there are fewer and fewer cars. And fewer and fewer hefty engines in them.

As automakers increasingly discontinue passenger cars in favor of SUVs and pickups, they’re also moving away from the once-standard six-cylinder engine, also known to many as the V6 because of its shape.

In its place is the formerly dreaded four-cylinder engine, which is shedding its previously sluggish reputation after incorporating new technologies that improve its performance while maintaining respectable fuel economy.

In fact, only one midsize car that isn’t a luxury model still comes with a V6 enginel – the Toyota Camry – according to auto industry data source J.D. Power.

If you want a V6 in a car, you’ll have to buy a premium model like a Mercedes-Benz, a large car like the Toyota Avalon or amuscle car like the Dodge Challenger.

But Forrest Jewel, who works in Oklahoma City, gets to

Read More

What automakers and consumers can learn from the chip shortage crunch

When will it be over?

The global chip shortage that has idled automotive plants, delayed shipments of new vehicles and pushed transaction prices to record levels may soon relent as early as this fall. But the dramatic impact of the last 12 months could very well continue into 2022 and beyond.

“Western and U.S. automakers have been hit the hardest. The Japanese have done generally better,” Dan Hearsch, an analyst at AlixPartners, told ABC News. “Automakers are definitely not happy. They’re missing out on sales, on volume. This is not a case where it’s good for any of them.”

Shrinking inventories have led to higher transaction prices for consumers flush with cash and looking to upgrade their rides. Even prices of used cars have skyrocketed nearly 17% in the last 12 months, according to data from iSeeCars.com. Pickup trucks and sports cars are seeing the largest increases.

“More than

Read More