Auto industry
BMW brings Level 2 assist to city streets
Starting in Germany in 2027, with other countries later, BMW will add route-guided Level 2 assistance that can handle turns, urban lane changes, right-of-way situations and roundabouts while the driver stays attentive. The hardware is already standard on the iX3, iX4, 3 Series, 7 Series and X5, with the software arriving over the air, and type approval under UN R171 is expected early in 2027, per BMW (Nov. 2). Stores will need to explain that the driver remains responsible; this is not driverless operation.
Sources: Link
The other stories from Tuesday, November 3, 2026.
Kia posts another record month
Kia set another U.S. October record as hybrids more than doubled. Hyundai also reported higher U.S. sales, according to Reuters.
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Schaeffler trims 3,460 European jobs
Schaeffler plans European job cuts and site closures to reduce costs. The announcement does not establish a current parts shortage.
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Audi Georgia plant could nearly double
Audi's Georgia plant could gain a second phase, according to state and local records. The added capacity is not yet committed.
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Public dealers lean harder on service
Parts and service supplied 54% of public dealer groups' gross profit as new-vehicle gross per unit and operating margins softened.
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CarMax pushes into Tier 2, revamps MaxCare and GAP
CarMax plans more Tier 2 lending and a revised MaxCare and GAP lineup. Its income targets are goals, not gains already delivered.
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Banks raise credit-score floors as auto demand slips
Banks raised minimum auto credit scores despite little net change in overall standards. Reported auto-loan demand weakened again.
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Auto debt nears $1.7 trillion as late payments ease
Auto debt grew and overall serious late payments eased, but Equifax sees slightly worse early performance in a newer loan cohort.
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