Automotive News reports U.S. new vehicle sales registered a 1.2% overall improvement in October despite waning EV demand, led by increases for Toyota, Ford, Honda and Kia. +
Ford has followed General Motors by unwinding a program intended to claim expiring $7,500 federal EV tax credits for future customers under pressure from U.S. Sen. Bernie Moreno. +
GM tells Bloomberg the factory will replace the expired $7,500 federal EV tax credit with $6,000 in “lease support” cash following unrelated reports of a similar move at Stellantis. +
Tesla delivered 497,099 units to U.S. buyers and lessees in Q3, setting a single-quarter record as the clock ran out on the $7,500 federal EV tax credit. +
Toyota, Hyundai and Ford lead in year-over-year gains in Automotive News’s Q3 and September sales reports, which show a boom for electrified units and welcome news for Stellantis dealers. +
Automotive News reports Ford and General Motors have been working with dealers to secure an unknown number of $7,500 federal tax credits for EV shoppers before they expire. +
Representatives of major trade associations tell Automotive News a study that found evidence of discriminatory auto lending practices relies on flawed methodology and incomplete data. +
Hyundai and Genesis dealers set new one-month records in August, a month that saw double-digit year-over-year gains for some factories and single-digit losses for others. +
Automotive News’s latest quarterly report shows Sonic Automotive leading the “Big 6” publicly traded dealership groups with an average of $2,718 in F&I gross profit per vehicle. +
The results of Automotive News’s inaugural Auto Industry Confidence Index survey show U.S. franchised dealers were less optimistic about the industry’s prospects in July than they were in June. +
