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Reliable Auto | 7833 Sepulveda Blvd. #17, Van Nuys, CA, 91405
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RELIABLE AUTO - LATEST NEWS!

STAY INFORMED ABOUT THE LATEST HAPPENINGS IN THE AUTOMOTIVE MARKET.

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Wed, 07 Feb 2024 17:49:58 EST


ED MORSE AUTOMOTIVE INKS DEAL TO BUY 6 DEALERSHIPS IN ARIZONA

The deal is expected to close by early June. Ed Morse Automotive purchased nine
dealerships in 2023.
Continue Reading the above article 'Ed Morse Automotive inks deal to buy 6
dealerships...

Posted By: Auto News
Wed, 07 Feb 2024 17:03:46 EST


UAW CALLS FOR HIGHER TARIFFS ON VEHICLES, AUTO PARTS AMID USMCA CONCERNS

The UAW argues the 2.5 percent tariff on passenger cars and parts from nations
with most-favored status isn't strict enough to reinforce compliance with the
USMCA and prevent Chinese companies from gaining access to the U.S. auto market
through Mexico.
Continue Reading the above article 'UAW calls for higher tariffs on vehicles,
auto par...

Posted By: Auto News
Wed, 07 Feb 2024 16:12:39 EST


ADIENT SALES FALL FLAT AS AUTO SUPPLIER LOOKS AT NEW BUSINESS OPPORTUNITIES

Adient plc’s revenue stagnated in the first quarter, though its CEO said
business performance is improving and margins will, too. The company, which has
its North American base in Plymouth, about 27 miles West of Detroit, had sales
of $3.66 billion, down marginally from the year prior, and adjusted EBITDA of
$216 million, up 2 percent year over year. Adjusted earnings came to 31 cents
per share for the quarter, falling below investor expectations. Adient stock
value closed down 7.67 percent Wednesday at $32.88 per share after the company
reported quarterly earnings. Executives pointed to unfavorable volumes and mix
as the main reason for falling short. The United Auto Workers strike against the
Detroit 3 automakers in the fall was a major factor, causing an overall $125
million sales loss and $25 million earnings hit.While operations have stabilized
in the Americas, the company sees more opportunity in China — a key focus for
the supplier. Adient is shifting more of its business in that market to Chinese
OEMs, which move quicker and provide more opportunity for content than the
traditional automakers, said Jerome Dorlack, who took the reins as CEO at the
beginning of the year. “These trends represent an opportunity for Adient but
also increase a level of complexity that we will have to manage,” Dorlack said
on a call with investment analysts. The supplier also sees opportunity to take
on more work from automakers as seating becomes more complex, with elements such
as thermal comfort and Advance Driver Assistance Systems coming into play. That
also makes the just-in-time assembly trickier. “This is especially relevant as
customers look to offset increased labor costs at their assembly plants,”
Dorlack said. Like other suppliers, Adient is aiming to drive down its own labor
costs and streamline assembly with modular designs. The CEO said this is
inspiring the company to look at revamping its business strategy. “Not just the
standard blocking and tackling, but really redesigning the way we conduct some
of our core business,” he said. “Taking large chunks of labor sloth and
relocating them and displacing them to lower-cost countries or eliminating them
all together so that we can really start to kind of leapfrog and get out of the
day-to-day trench warfare and actually take big chunks out.” Competitor Lear
Corp. is taking a similar approach as it relates to modularity and driving down
labor costs with automation and outsourcing to cheaper parts of the world.
Dorlack said the company is well protected from electric vehicle production
volatility because it is servicing those contracts through its existing
footprint. “We’ve been I think very good stewards of capital when it comes to
leveraging existing brick and mortar from an EV versus ICE deployment and really
looking at long-distance JIT, particularly in the Americas,” he said. “We
haven’t installed new brick and mortar.” CFO Mark Oswald said Adient expects
margin expansion throughout the year. “It’s all about volumes and the stability
of those volumes,” he said.
Continue Reading the above article 'Adient sales fall flat as auto supplier
looks at n...

Posted By: Auto News
Wed, 07 Feb 2024 15:35:06 EST


MAZDA EXTENDS CAPTIVE FINANCE AGREEMENT WITH TOYOTA TO 2030

Mazda North America grabbed an early renewal of its private-label captive
finance agreement with Toyota Financial Services from 2020, allowing the lender
to continue to offer products to Mazda dealers and consumers through 2030 under
the Mazda Financial Services name.
Continue Reading the above article 'Mazda extends captive finance agreement with
Toyot...

Posted By: Auto News
Wed, 07 Feb 2024 14:48:39 EST


VOLKSWAGEN SUPER BOWL LVIII COMMERCIAL IS ‘AN AMERICAN LOVE STORY'

After a decadelong absence, Volkswagen is set to return as a Super Bowl
advertiser and will use an emotional pull, teasers indicate.
Continue Reading the above article 'Volkswagen Super Bowl LVIII commercial is
‘an Am...

Posted By: Auto News
Wed, 07 Feb 2024 14:21:35 EST


JANUARY U.S. AUTO INVENTORY SLIPS AMID SEASONAL FLUCTUATIONS, REPORT SAYS

U.S. auto inventories fell from 2.64 million in December to 2.53 million in
January, interrupting an 11-month period of sustained growth, the data analytics
company said.
Continue Reading the above article 'January U.S. auto inventory slips amid
seasonal fl...

Posted By: Auto News
Wed, 07 Feb 2024 13:38:40 EST


TRUECAR LEADER SAYS COMPANY CONTINUES REBOUND AFTER RESTRUCTURING

"We have this huge opportunity," CEO Jantoon Reigersman said during this year's
NADA Show in Las Vegas.
Continue Reading the above article 'TrueCar leader says company continues
rebound afte...

Posted By: Auto News
Wed, 07 Feb 2024 12:33:06 EST


HOW LEXUS USED THE RC F COUPE TO EVOLVE ITS MOTORSPORTS PRESENCE AND BUILD BRAND
AWARENESS

The Japanese luxury brand's motorsports involvement has evolved and that's a
credit to the Lexus RC F. The foray into racing is delivering more brand
awareness, even if sales numbers are relatively small.
Continue Reading the above article 'How Lexus used the RC F coupe to evolve its
motors...

Posted By: Auto News
Wed, 07 Feb 2024 11:14:59 EST


U.S. CLOSES PROBE INTO 3 MILLION HYUNDAI, KIA VEHICLES OVER FIRE RISKS

The National Highway Traffic Safety Administration said it was ending the probe
after the Korean automakers previously issued eight recalls covering about 3
million vehicles to address engine fires.
Continue Reading the above article 'U.S. closes probe into 3 million Hyundai,
Kia vehi...

Posted By: Auto News
Wed, 07 Feb 2024 11:09:20 EST


FORD PULLS PLUG ON AUTOMATED PARALLEL PARKING FEATURE TO CUT COSTS

The automaker's $2 billion in promised savings target a wide range of operations
ranging from materials and freight to manufacturing.
Continue Reading the above article 'Ford pulls plug on automated parallel
parking feat...

Posted By: Auto News


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