Top News & Analysis Detroit

  • In a glitzy presentation in Orange County outside Los Angeles, the eighth generation of the 66- year-old "Vette," in red, white, and blue, roared down a runway stopping short before an audience of Corvette enthusiasts, GM executives, dealers and media. With a 495 horsepower, V8 engine and dual clutch, the Corvette will go from zero to 60 mph in under 3 seconds, executives...

  • TUSTIN, Calif., July 18- General Motors Co was set on Thursday to unveil its newly designed mid-engine 2020 Corvette in a splashy tribute to its emblematic sports car, even as the No. 1 U.S. automaker faces mounting pressures in a sluggish and uncertain global sales environment. Revved up to take on high-performance European rivals with the all-new model dubbed the...

  • "We invested in you, now it's your turn to invest in us," United Auto Workers' President Gary Jones said at a joint event with GM executives in downtown Detroit. Workers from GM's Lordstown, Ohio, plant, wearing red shirts emblazoned with "Invest in Lordstown," greeted UAW officials with applause as they arrived at the event on Tuesday. GM is in talks to sell the Lordstown...

  • DETROIT, July 15- The United Auto Workers and Ford Motor Co will officially launch talks on a four-year contract on Monday that are expected to be contentious, with rising healthcare costs, job security and the use of temporary workers expected to be major sticking points. General Motors Co and Fiat Chrysler Automobiles NV will kick off their own talks with the...

  • DETROIT, July 11- An expanded alliance between Ford Motor Co and Volkswagen AG that includes a partnership in Ford self-driving unit Argo AI could redraw the balance of power in autonomous vehicles. Earlier estimates of Argo's value have ranged from $2 billion to $4 billion. Depending on the size of a VW investment, that valuation could rise to $7 billion,...

  • JOLARPETTAI, India, July 11- Indian authorities on Thursday filled tanks with water and loaded them onto a train in the southern state of Tamil Nadu to supply its manufacturing capital Chennai where reservoirs have have run dry. Technicians in the railway station at Jolarpettai, located over 135 miles from Chennai, worked from early on Thursday to fill fifty...

  • *Tennessee, Kentucky among candidates for site of $1.7 bln plant-source. SEOUL/ DETROIT July 11- South Korean electric vehicle battery maker LG Chem is considering building a second U.S. factory, three people familiar with the matter said, accelerating a race to add capacity to meet growing global demand for green vehicles. Kentucky and Tennessee are among the...

  • July 2- Lee Iacocca, the charismatic U.S. auto industry executive who gave America the Ford Mustang and was celebrated for saving Chrysler from going out of business, has died at the age of 94, Fiat Chrysler said. Iacocca died Tuesday at his home in Bel-Air, California of complications from Parkinson's disease, his daughter Lia Iacocca Assad told the Washington...

  • DETROIT, June 27- At Planet Ford, which boasts it is the No. 1 Ford volume dealer in the Houston area, customers shopping for a 2019 F-150 pickup truck can get discounts from Ford Motor Co of more than $8,000- and that is just the start. The dealership's website lists a dozen other ways for truck buyers to get a price cut: being a student, a member of the military or a...

  • Josh Luber, founder of StockX, and Scott Cutler, incoming CEO of StockX, join "Squawk Box" to discuss the business of sneaker resale.

  • BERLIN, June 26- StockX, an online market place which specialises in reselling limited-edition sneakers, has raised $110 million from investors to fund its expansion and poached Scott Cutler from eBay as its new chief executive, it said on Wednesday. Founded in Detroit in 2016, StockX has grown rapidly to sell more than $1 billion of products a year on its site and...

  • Woman listening to music with headphones.

    Homeownership could be possible, depending on where you live.

  • DETROIT/ PARIS, June 20- French automaker Renault SA, its Japanese partner Nissan Motor Co and tech giant Alphabet Inc's Waymo are exploring a partnership to develop and use self-driving vehicles to transport people and goods in France and Japan, the companies said on Thursday. In Japan, a potential competitor to a Renault-Nissan-Waymo venture would be Monet...

  • STOCKHOLM, June 19- China's Geely has chosen Zenuity, a joint venture between its Volvo car marque and Swedish technology group Veoneer, as its preferred supplier for assisted and self driving software. Chief Executive Dennis Nobelius said the Geely deal was a significant win as only 3-5 first generation self-driving software platforms would survive to the...

  • Young men in Los Angeles, California.

    In San Francisco, it could take decades.

  • CHATTANOOGA, Tenn., June 13- For the second time in five years, workers at Volkswagen AG's Chattanooga, Tennessee, assembly plant have been voting this week on whether to unionize, potentially handing the United Auto Workers its first toehold in the U.S. The vote by 1,700 workers at VW's Chattanooga plant, which makes the Passat sedan and the Atlas SUV, comes at a...

  • WASHINGTON, June 12- Uber Technologies Inc unveiled its newest Volvo self-driving car in Washington on Wednesday as it works to eventually deploy vehicles without drivers under some limited conditions. Uber Advanced Technologies Group chief scientist Raquel Urtasun showed off the company's artificial intelligence technology that allows it to drive...

  • WASHINGTON, June 12- Uber Technologies Inc on Wednesday unveiled its newest Volvo self-driving car in Washington as it works to eventually deploy vehicles without drivers under some limited conditions. Uber Advanced Technologies Group chief scientist Raquel Urtasun showed off the company's artificial intelligence technology that allows it to drive...

  • June 12- The first heavily automated mass-market vehicles for consumers could go on sale as soon as 2022, if one or more vehicle manufacturers adopt a new sub- $500 lidar sensing package being developed by Silicon Valley startup Luminar. The tremendous cost of lidar- prices for individual sensors currently range from about $6,000 to more than $100,000- is one of...

  • FLINT, Mich., June 12- General Motors Co president Mark Reuss said on Wednesday that the automaker is investing about $150 million at its Flint Assembly plant, Michigan, to boost production of heavy duty trucks by another 40,000 vehicles a year. Reuss announced the investment at the Flint truck assembly plant wearing a United Auto Workers pin.