Toyota Plans to Build New All-Electric SUV in Kentucky in 2025
Thought of as being behind the EV curve in recent years, Toyota’s looking to make up for lost time by producing an all-new battery-electric sport-utility at its massive Georgetown, Kentucky plant starting in 2025. Toyota also plans to invest an additional $2.1 billion in its North Carolina battery production facility, which is also expected to be up and running by 2025, reports The Detroit Bureau. The new influx of cash pushes the total investment in the plant and other facilities in Liberty, N.C., which was announced last year, to $5.9 billion. It will have six battery production lines, four for hybrid vehicles and two for electric vehicles, however, no details about the new SUV were released — other than it was a three-row ute. Officials said the new plant and three-row electric ute are aimed to help the company meet its carbon reduction efforts. “We are committed to reducing carbon emissions as much as possible and as soon as possible,” said Ted Ogawa, president and chief executive officer, Toyota Motor North America. “To achieve this goal, customers must have access to a portfolio of options that meet their needs now and in the future. Click here for the full story.
U.S. Auto-Safety Regulators Urge Automatic Emergency Braking in Future Vehicles
U.S. auto-safety regulators want to mandate automatic emergency braking on nearly all future cars and trucks, a move that they say will help save lives and reduce injuries from car accidents. The National Highway Traffic Safety Administration proposed Wednesday a new regulation that would require automakers to sell cars with the advanced safety technology, which uses a combination of sensors and software to detect roadway dangers and brake the car itself if the driver doesn’t act fast enough, reports The Wall Street Journal. The move marks a significant step by regulators to harness some of the automated driving technology that has been deployed by automakers mostly as an optional feature to tackle what has been a sharp rise in traffic fatalities in recent years. NHTSA says that the proposed mandate could save at least 360 lives a year and reduce injuries by at least 24,000 annually. If the rule is adopted, automakers would have as many as three years to comply with the new automatic emergency braking requirement, the agency said. Click here for the full story.
Hyundai, Kia Post Double-Digit Gains in May
U.S. sales rose for the 10th-straight month in May at Hyundai and Kia, helped by rising inventory and incentives and sharply higher fleet deliveries. Hyundai deliveries jumped 18 percent to 70,001, with retail volume rising 8 percent to 64,070. The company said it delivered 5,931 vehicles to fleet customers, or 8.5 percent of total May sales. Kia, still hampered by one of the industry's lowest stockpiles, reported U.S. sales of 71,497, a jump of 23 percent and the company's second-best month ever. Four of the brand's core models — Soul, Seltos, Telluride and Carnival — posted big gains. Genesis set a May record with sales of 5,605, an increase of 27 percent. Toyota Motor Corp., Honda Motor Co., Subaru and Mazda will release May results later Thursday, followed by Ford Motor Co. and Volvo on Friday, reports Automotive News. Most of the rest of the industry reports U.S. sales at the close of each quarter. U.S. light-vehicle sales were expected to rise 18 to 20 percent in May, according to forecasts from J.D. Power, LMC Automotive, TrueCar, Cox Automotive, and S&P Global Mobility. Click here for the full story.
Subaru's Jeff Walters: Lean Inventory Levels Finally Improving
Jeff Walters has officially been in Subaru's top U.S. role only since April 1 when Tom Doll stepped down as CEO, but Walters' three decades of experience with the Japanese brand made it easier to move up. Walters, previously Subaru of America's senior vice president of sales, had come up through the brand's regional field team, holding a variety of roles with increasing responsibilities, and had also been a brand strategy manager in what is the company's largest single global market. Not only does his experience make him a steady hand at the helm as president and COO, but he is a known quantity to Subaru's network of 639 retailers across North America. Walters spoke last month with Automotive News’ Staff Reporter Larry P. Vellequette. Here are edited excerpts. Q: You've been in your new role for about two months. What are your first impressions? A: Well, I've been with Subaru of America for 31 years. So, I got plenty of experience and most of what I've done has been growing up in this business on the sales side. Click here for the full interview.
Porsche Has a New Logo for the First Time in 15 Years
Porsche has a new crest, and it will be introduced on the sports car maker's vehicles at the end of 2023. "The '75 years of Porsche sports cars' anniversary was the occasion for us to rework this trademark," says Michael Mauer, Vice President of Style Porsche. "With its cleaner and more state-of-the-art execution, the refined crest communicates the character of Porsche. We have reinterpreted historical characteristics and combined them with innovative design elements such as a honeycomb structure and brushed metal. The result is an aesthetically ambitious arc that bridges the history and the future of the brand." The Porsche crest has existed since 1952 and was updated in 1954, 1963, 1973, 1994, and 2008, reports Carbuzz. All of these crests can still be purchased. Porsche is famous for looking after customers that own its vintage cars and constantly introducing updates for older models. Click here to learn about the new logo.
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