Earlier this week: UAW ordered to turn over unredacted documents to an independent monitor. Fed eases rates again but signals a slower path ahead. Ford’s warranty woes and recall troubles spur leadership changes. Volkswagen’s 13-hour negotiations fail; strike looms over Christmas. Nissan and Honda eye strategic merger to strengthen position in the EV market. EPA approves California’s EV plan amid political pushback. DOE awards $9.63B loan to BlueOval SK to build battery plants in Kentucky and Tennessee. Study reveals strong loyalty among EV owners: 92% say they would never return to an ICE car.
Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.
This week, a federal judge ordered the United Auto Workers (UAW) to relinquish unredacted documents to the union’s independent monitor, Neil Barofsky, as part of an ongoing investigation into top union officials. Read More
The Federal Reserve took another step toward easing monetary policy by cutting its benchmark federal funds rate by 0.25 percentage points to a range of 4.25%-4.5%, marking a two-year low. Read More
3. Ford’s warranty woes and recall troubles spur leadership changes
Ford Motor is restructuring its leadership to address persistent quality issues and reduce industry-leading recall numbers and warranty costs. The automaker announced plans to appoint a new head of quality, transitioning responsibilities from Jim Baumbick– who has led the team since late 2022. Read More
4. Volkswagen’s 13-hour negotiations fail; strike looms over Christmas
Volkswagen’s management and labor representatives are set to resume high-stakes negotiations today following a lengthy 13-hour session on Monday that failed to yield an agreement. The negotiations focus on the carmaker’s proposed cost-cutting measures at its German locations, with both parties under increasing pressure to reach an agreement before the holiday season. Read More
Honda and Nissan are in talks to strengthen their collaboration, including the possibility of a full merger, in response to increasing pressures from electric vehicle (EV) makers like Tesla and BYD. Read More
The U.S. Environmental Protection Agency (EPA) has approved California’s ambitious plan to end the sale of gasoline-only vehicles by 2035. This landmark decision, made during the final weeks of the Biden administration, lays the groundwork for a potential battle over the direction of vehicle regulations in the U.S., as it faces opposition from incoming leaders. Read More
7. DOE awards $9.63B loan to BlueOval SK to build battery plants in Kentucky and Tennessee
On Monday, the U.S. Department of Energy (DOE) finalized a $9.63 billion loan to BlueOval SK, a joint venture between Ford and South Korean battery maker SK On. This loan, reportedly the largest ever from the government’s Advanced Technology Vehicles Manufacturing Loan Program, surpasses the initial $9.2 billion commitment made in June 2023. Read More
On today’s episode of Training Camp, Adam Marburger, a black belt in Brazilian Jiu-Jitsu and F&I, welcomes automotive leader John Allen, General Manager and Vice President of Allen Chevrolet in Monroe, Michigan. Allen opens up about his journey from hitting rock bottom to becoming a successful leader in the car business, offering valuable insights into self-awareness, leadership, and training that can drive success in any dealership. Watch the full segment here.Â
As dealerships look ahead to 2025, aligning marketing strategies with measurable outcomes has never been more critical. In today’s episode of Inside Automotive, Durran Cage, founder of Cage Automotive, shares essential insights on maximizing marketing ROI, the importance of data-driven decision-making, and the role of customer engagement in shaping future marketing efforts. Watch the full segment here.Â
Artificial intelligence (AI), as we know it, is reshaping how businesses function, particularly in terms of teamwork, leadership, and strategy. To help navigate this sea of change, we had the privilege of speaking with Dan Chuparkoff, CEO of Reinvention Labs. A leader in AI innovation, Chuparkoff shares insights on how AI is transforming the workplace and why problem-solving skills are now more critical than ever on today’s episode of CBT Now. Watch the full segment here.