ICYMI: BMW unveils the iX3 ‘Neue Klasse’ EV. Amazon will sell used and CPO cars online. Honda’s Q2 profit drops 50%. Toyota lowers 2025 profit forecast. GM will import Chinese batteries for the 2026 Chevy Bolt.
Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.
BMW unveils iX3 and strategy to take on Tesla and Chinese EV rivals
BMW is launching a new all-electric SUV, the iX3, as the first of 40 vehicles built on its all-new “Neue Klasse” platform, a sweeping initiative that aims to reposition the legacy automaker as a leader in electric vehicle innovation. With a projected range of up to 497 miles and 400 kW charging capability, the iX3 is a direct challenge to Tesla’s Model Y and a response to growing pressure from Chinese automakers offering cheaper, tech-forward EVs. Read More
Amazon partners with dealers to sell used, CPO cars online
Amazon is expanding its online car marketplace beyond new Hyundai models to include used and certified pre-owned (CPO) vehicles from participating local dealerships. This new offering, starting in Los Angeles and planned to roll out to more U.S. cities, allows consumers to browse, finance, and pay for used and CPO cars entirely online. Buyers interact with dealers only after completing the purchase, streamlining the car-buying process. Unlike peer-to-peer platforms like Craigslist or Facebook Marketplace, this service features inventory exclusively from dealers. Read More
Honda report 50% profit drop amid US tariffs, EV losses
On August 6, Honda reported a steep 50% drop in net profit for the April-June quarter, citing a $844.1 million (¥124.6 billion) tariff-related loss and one-time electric vehicle (EV) write-downs. The results fell short of analyst expectations, but the automaker revised its full-year earnings forecast upward, which is driven by a weaker yen and smaller-than-expected tariff impact. Read More
Toyota lowers profit forecast amid U.S. auto tariffs
Toyota Motor Co., the world’s largest automaker by sales volume, reported a drop in operating profit for the June quarter, driven largely by U.S. tariffs on imported vehicles and currency fluctuations. Although quarterly revenue slightly exceeded analyst estimates, operating profit fell 11% year over year, with a ¥450 billion ($3.1 billion) loss attributed to U.S. tariffs. Net income dropped 37%, prompting Toyota to reduce its full-year operating profit forecast by ¥600 billion to ¥3.2 trillion for the fiscal year ending March 2026. Read More
GM to import Chinese batteries for 2026 Chevy Bolt
General Motors plans to import lithium iron phosphate (LFP) batteries from China’s CATL to power its second-generation Chevrolet Bolt, a move that allows GM to keep its most affordable EV on track despite facing steep tariffs under President Trump’s trade policy. The Wall Street Journal reports the imports will serve as a two-year stopgap while GM and its Korean partner LG Energy Solution ramp up U.S.-based battery production. Read More
Next Week: Exclusive Interviews You Can’t Miss
Jeff Wyler Automotive’s Ryan Haskell on winning customer loyalty in the service department
Keeping the service department running smoothly has never been more critical, or more challenging, than it is right now. In this upcoming episode of Service Drive, Ryan Haskell, fixed ops director at Jeff Wyler Automotive Family, discusses what’s working in service right now and how his team is staying ahead.
Kathryn Schifferle on disrupting the commercial truck market
In an industry that has long been dominated by tradition and male leadership, Kathryn Schifferle, founder and Chief Vision Officer of Work Truck Solutions, joins us in this upcoming episode of Women Driving the Industry. During our conversation, Schifferle discusses how she has created a significant space for innovation and inclusion. As the founder and Chief Vision Officer of Work Truck Solutions, she transformed a central blind spot in the commercial vehicle sector into a billion-dollar data platform that helps over 1,300 dealerships, and counting, streamline fleet operations, grow profitability, and better serve business buyers.
