
Expert says a move away from ICE models could lift BEV and ICE markets for a time.
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LMC Automotive and J.D. Power predict U.S. auto retail sales will rise in October as supply chains improve and make more vehicles available to dealerships.
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J.D. Power and LMC Automotive report predicts average new vehicle transaction prices will hit a record $46,259 in August.
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The seasonally adjusted, annualized rate of sales fell to 12.81 million in May, according to Motor Intelligence.
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Industry analysts predict U.S. auto retail sales will dip in January as manufacturing slows.
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Ford Motor Co. CEO Jim Farley says he hopes to overtake Tesla in U.S. electric-vehicle sales, but first he hopes to overtake GM.
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The proposed strategy includes building 500,000 charging stations for electric vehicles across the country and lowering the cost of electric cars.
Read More →Combined sales at the seven major automakers that release monthly results dropped 17% in October. Automakers cite the semiconductor chip shortage and supply chain bottlenecks as the reason.
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Cox Automotive and LMC report new-vehicle inventories shrank to just over 915,000 in September and predict further shrinkage as production issues and supply shortages linger.
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U.S. new vehicle retail sales are expected to drop 888,900 units in September, from 1,182,788 a year ago.
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