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January Auto Sales Chilled
The month is set to be off last year, J.D. Power predicts, though its full-year outlook is less gloomy, and dealer profits are up despite the odds.
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SEARCHMENUSEARCHThe month is set to be off last year, J.D. Power predicts, though its full-year outlook is less gloomy, and dealer profits are up despite the odds.
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The House is expected to also pass the bipartisan bill that earmarks billions of dollars to boost domestic semiconductor production.
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General Motors, Ford Motor and Stellantis may need to boost wages as they negotiate a four-year labor contract for 150,000 employees.
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Penske Automotive Group reported a 10% rise in income to $375.9 million in the second quarter, its most profitable quarter ever.
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Whether it is as a result of current inflationary pressures causing a pullback from consumers, or is more evidence of a return to traditional seasonal valuation patterns, prices have dropped for most segments as we reach the mid-point of summer.
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July U.S. auto sales are expected to show very little change from June’s results as a lack of supply continues to batter the new-vehicle market.
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The Estimated Average Weekly Sales Rate remains somewhat stagnant, around the 66% mark.
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But the automaker remains bullish that stronger results are possible in the second half of the year.
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The money will help a joint venture of General Motors Co. and LG Energy Solution finance the construction of new lithium-ion battery cell manufacturing facilities.
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Despite challenges, TransUnion’s Credit Industry Insights Report shows consumer health and demand for new vehicles remains strong.
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Read the fine print to ensure restrictive covenants protect your business and prevent someone else from using them to steal business.
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