News
Rivian increases Georgia plant capacity to 300, 000 units, narrows Q1 losses
3+ hour, 11+ min ago (252+ words) The EV maker has increased its planned output to 300, 000 units annually while narrowing losses and reaffirming its 2028 production timeline. Rivian is set to increase initial production capacity at its Georgia plant by 50% to 300, 000 units annually, the company said Thursday, as…...
Carvana expands CDJR footprint as new-car ambitions take shape
4+ hour, 43+ min ago (700+ words) Welcome back to the latest episode of'The Future of Automotive'on CBT News, where we put recent automotive and mobility news into the context of the broader themes impacting the industry. Used car retailer Carvana had a great Q1 earnings call this…...
Auto retail holds firm as Kerrigan flags geopolitical pressure, policy resets and M&A surge
2+ week, 1+ day ago (375+ words) With fuel prices averaging above $4 per gallon nationally, Kerrigan said rising costs have already begun to re-influence consumer interest in EVs. He described the oil price spikes as recurring market events that tend to accelerate interest in alternative fuel options,…...
GM deploys Google Gemini AI to 4 million vehicles with no dealer involvement
20+ hour, 50+ min ago (524+ words) GM's free over-the-air upgrade replaces Google Assistant for Gemini's conversational AI, bypassing the dealer service drive entirely General Motors is pushing Google Gemini, Google's generative AI assistant, to approximately 4 million vehicles on the road today. The free, over-the-air upgrade is…...
Carvana posts record profit as used-car demand remains robust
1+ day, 3+ hour ago (306+ words) A 40% sales surge, falling debt costs and a string of CDJR acquisitions suggest Carvana is building something far bigger than a used-car website. Carvana reported record first-quarter revenue and profit on Wednesday, driven by a 40% surge in vehicle sales. The…...
Fed holds rates steady, squeezing used-car buyers
1+ day, 2+ hour ago (280+ words) Rising interest rates and fuel prices compound pressure on lower-income consumers while reshaping dealership sales strategies. On April 29, the Federal Reserve held its benchmark interest rate at 3. 5% to 3. 75%, maintaining elevated borrowing costs that continue to pressure auto buyers, particularly in…...
Ford raises 2026 outlook after Q1 earnings beat expectations
1+ day, 3+ hour ago (334+ words) Strong pricing, product mix and services growth drive performance as tariff benefit offsets rising costs. Ford raised its 2026 financial guidance Wednesday after reporting first-quarter earnings that beat Wall Street expectations, driven by strong pricing, product mix and growth in software…...
The 4 types of customers and how to win them over every time
1+ day, 4+ hour ago (899+ words) Every customer who walks into a dealership is sending signals, but are you listening? Learning to read your customers and meet them where they are can build trust and close more deals. "On this episode of F&I Today, Paul…...
Porsche hits Q1 forecast despite deep decline in profit
1+ day, 17+ hour ago (242+ words) Porsche's first-quarter profit fell nearly 22%, but the German automaker still managed to hit the upper end of its full-year forecast range as a broad restructuring gets underway. Porsche AG reported first-quarter operating profit of "595 million ($696 million) on Wednesday, landing at…...
Quantum5 Transitions to Ander
2+ day, 37+ min ago (277+ words) Rebrand reflects the performance intelligence company's next phase of growth and expanded market focus. Organizations have traditionally relied on workforce development tools to track training activity, including course completions and participation. Ander's solutions are designed to track outcomes, helping organizations…...