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Port congestion in China, closures in Ukraine, and ongoing supply chain issues will not slow output, reported Milan Nedeljkovic, production chief for BMW AG.
https://www.agent-entrepreneur.com/368091/bmw-announces-it-will-meet-2022-output-targets
Toyota Motor Corp will cut global production by about 100,000 to roughly 850,000 vehicles in June due to the semiconductor shortage.
https://www.agent-entrepreneur.com/368088/toyota-announces-plans-to-cut-global-production-amid-chip-shortage
High gas prices lead more shoppers to consider traditional sedans and hybrids in the first quarter of 2022, likely benefiting Toyota.
https://www.agent-entrepreneur.com/368081/bmw-toyota-back-on-top-as-americas-most-shopped-vehicle-brands
The company plans to delay filling some open positions after hiring 7,000 new salaried workers already in 2022.
https://www.agent-entrepreneur.com/368077/gm-delays-plans-to-hire-3-000-salaried-workers
S&P research shows the average vehicle age rose to 12.2 years in 2022, representing a 2% increase from 2021.
https://www.agent-entrepreneur.com/368075/sp-mobility-report-age-of-light-vehicles-rises-again
The 2022 Working Relations Index shows Toyota in first place, with Honda rapidly closing in.
https://www.agent-entrepreneur.com/368068/toyota-and-honda-neck-in-neck-in-wri-study
Notable recent auction sales include a 2017 Ferrari LaFerrari Aperta.
https://www.agent-entrepreneur.com/368058/may-monthly-specialty-market-updates
General Motors hopes its Ultium platform, which consists of batteries, motors, software and other components, will help it grow EV market share and overtake...
https://www.agent-entrepreneur.com/368050/gm-hedges-its-bets-on-ultium-platform
The company plans to offer insurance coverage to 80% of the U.S., before taking its insurance offering international.
https://www.agent-entrepreneur.com/368047/tesla-insurance-options-pick-up-steam
The Illinois Secretary of State Police temporarily blocked Carvana’s dealer license for failing to properly transfer vehicle titles.
https://www.agent-entrepreneur.com/368043/illinois-suspends-carvana-dealer-license
New-vehicle affordability declined slightly in April despite revised data indicating stronger income gains, according to the latest Cox Automotive/Moody’s...
https://www.agent-entrepreneur.com/368045/with-new-vehicle-prices-climbing-in-april-affordability-declines-further
The challenge arises over the EPA decision to reinstate the waiver and withdraw its interpretation of the Clean Air Act that would prohibit other states...
https://www.agent-entrepreneur.com/368041/attorney-generals-sue-epa-over-clean-air-act-waiver
This week, NADA and 12 industry partners urged Congress to take up the PART Act to help fight catalytic converter theft, and specifically asked for the...
https://www.agent-entrepreneur.com/368037/nada-leads-the-charge-on-combatting-growing-problem-of-catalytic-converter-theft
The National Automobile Dealers Association and 12 other trade groups to urge Congress to advance a bipartisan bill to combat this rising threat.
https://www.agent-entrepreneur.com/368035/trade-groups-demand-action-as-catalytic-converter-thefts-soar
The Estimated Average Weekly Sales Rate continues to increase and now is at 72%.
https://www.agent-entrepreneur.com/368027/black-book-market-insights
Q1 2022 TransUnion Credit Industry Insights Report explores latest credit trends.
https://www.agent-entrepreneur.com/368000/despite-a-series-of-challenges-consumer-credit-health-remains-relatively-strong-in-opening-quarter-of-2022
While demand for commercial vehicle inventory remained high, several movements in the data indicated there are trends shaping the industry and driving buyer...
https://www.agent-entrepreneur.com/367960/commercial-vehicle-data-shows-continued-buyer-challenges
The seasonally adjusted Retention Index went down to 185.4 points in April 2022 as high gas prices strengthen some segments and weaken others.
https://www.agent-entrepreneur.com/367945/black-books-used-vehicle-retention-index-drops-again-as-rollercoaster-ride-conti
The Used Retail Days-to-Turn Estimate has continued to drop over the last few weeks and remains below 36 days.
https://www.agent-entrepreneur.com/367931/black-book-weekly-market-insights-1
The Fed delivered on expectations today by raising the target rate for the Federal Funds Rate by half of a percentage point and announcing the plan to start...
https://www.agent-entrepreneur.com/367929/cox-automotive-implications-of-fed-moving-rates-higher-and-starting-quantitative
The loss leader in this equation was Toyota Motor Corp., which saw April sales volume fall 23%.
https://www.agent-entrepreneur.com/367923/toyota-honda-hyundai-and-kia-sales-plummet-in-april
The automaker saw a Quarter One net income of $2.9 billion, just 2.7% lower than 2021, despite $2.5 billion in increased costs as global revenue rose 11%.
https://www.agent-entrepreneur.com/367921/gm-looks-to-pricing-power-and-pent-up-demand-to-keep-profits-high
Toyota Motor Corp. is getting closer to using up a key U.S. tax credit for hybrid and electric vehicles, a situation company leaders say will raise its...
https://www.agent-entrepreneur.com/367919/toyota-to-hit-tax-credit-limit-for-evs-and-hybrid-vehicles
Acquisition adds complementary product portfolio to Protective's asset protection division.
https://www.agent-entrepreneur.com/367910/protective-closes-on-aul-acquisition
Inventory shortages have vehicle lessees re-evaluating their end-of-lease options.
https://www.agent-entrepreneur.com/367901/car-lease-options-in-a-chip-shortage-pandemic
Penske Automotive Group first quarter net income sored from $183.1 million year over year to $369.5 million.
https://www.agent-entrepreneur.com/367876/penske-automotive-group-more-than-doubles-q1-net-income
Most categories of dealership service and parts businesses have recovered from COVID-19 shutdowns, especially customer-pay work.
https://www.agent-entrepreneur.com/367863/parts-and-services-bounce-back
General Motors has requested its suppliers to sign a pledge of carbon neutrality and commit to social responsibility programs and sustainable procurement...
https://www.agent-entrepreneur.com/367861/gm-asks-suppliers-to-sign-pledge-to-carbon-neutrality
The ongoing microchip supply shortage has caused automakers to trim 87,500 more vehicles from their production forecasts, reports AutoForecast Solutions.
https://www.agent-entrepreneur.com/367859/microchip-supply-shortage-continues-to-hamper-vehicle-production
The consistency of new vehicle inventory levels over the last six months suggests that the industry is readjusting to a ‘new normal’ level of inventory...
https://www.agent-entrepreneur.com/367845/zerosum-market-first-report-april-2022-automotive-inventory-data-and-sales-forec
As electric vehicles become more commonplace, the need for dedicated F&I products grows.
https://www.agent-entrepreneur.com/367798/evs-drive-changes-in-fi
The team at Kelley Blue Book has assembled two broad reports from the first quarter: One is a look across industry-wide U.S. sales in Q1, the other a narrow...
https://www.agent-entrepreneur.com/367793/cox-automotive-10-takeaways-from-u-s-auto-sales-in-q1-2022
To help car shoppers discern the best among all available new EVs, Autotrader has named the 10 Best Electric Vehicles for 2022.
https://www.agent-entrepreneur.com/367791/autotrader-names-10-best-electric-vehicles-for-2022
The industry saw 14.3% month over month growth, but CPO sales still fell 23.3% short of 2021 sales for the same month.
https://www.agent-entrepreneur.com/367789/cpo-sales-bested-february-totals
Higher gas prices are affecting the demand for trucks and SUVs – almost all the non-luxury crossover / SUV and pickup segments of all ages are depreciating...
https://www.agent-entrepreneur.com/367782/market-insights-from-black-book-3
Consumers seeking lower prices on dealership lots must wait until 2023, reported auto-industry leaders at the New York International Auto Show.
https://www.agent-entrepreneur.com/367780/high-vehicle-prices-expected-to-hold-their-grip-on-auto-industry
Industry leaders dispel the notion that dealers do not support EV sales.
https://www.agent-entrepreneur.com/367775/do-dealers-embrace-ev-sales
Stellantis has suspended production at its Russian plant, which employs 2,700 people, over logistical difficulties and sanctions imposed on Moscow.
https://www.agent-entrepreneur.com/367773/stellantis-suspends-production-at-kaluga-plant
The Company will hold a conference call to discuss these financial results when it ascertains a definitive filing date.
https://www.agent-entrepreneur.com/367754/lmp-automotive-holdings-provides-a-corporate-update-and-announces-it-will-delay-its-2021-financial-results
Experts suggest automakers focus their attention on the user experience and greater collaboration as they content with limited semiconductor chip supplies.
https://www.agent-entrepreneur.com/367733/auto-experts-weigh-in-on-the-semiconductor-shortage
Hyundai Motor Corp. will build an assembly plant in the U.S. for electric vehicles and batteries, COO Jose Muñoz announced.
https://www.agent-entrepreneur.com/367731/hyundai-advances-ev-strategy
GM reported it had agreed to a multiyear deal for cobalt from Glencore’s Murrin Murrin mine in Australia.
https://www.agent-entrepreneur.com/367728/gm-enters-agreement-to-buy-cobalt-from-glencore-plc
The Estimated Average Weekly Sales Rate decreased a little last week to 67%, with sellers holding firm to floor pricing.
https://www.agent-entrepreneur.com/367717/black-book-market-insights-4
The luxury automaker credits strong factory-dealer communications as the reason dealers could sell into the pipeline.
https://www.agent-entrepreneur.com/367708/bmw-q1-sales-rise-3-2
The first quarter of 2022 came to a close with new-light vehicle sales in March totaling a SAAR of 13.4 million units, a decline of 4.6% compared to...
https://www.agent-entrepreneur.com/367700/nada-issues-u-s-auto-sales-and-economic-analysis-following-first-quarter-2022
Manheim Market Report values saw weekly price increases that accelerated in each full week of March after the first week saw the smallest decline thus far...
https://www.agent-entrepreneur.com/367698/after-slow-first-quarter-manheim-forecasts-used-vehicle-market-to-accelerate-in-months-ahead
While an F&I agency would likely have access to consumer information both less in quantity and sensitivity than what a dealership possesses, the information...
https://www.agent-entrepreneur.com/367681/how-to-survive-the-safeguards-rule
General Motors and Honda Motor Co. announced plans to develop a line of affordable electric vehicles (EVs) with a focus on compact crossovers.
https://www.agent-entrepreneur.com/367671/gm-and-honda-to-collaborate-on-affordable-evs
Tesla Inc. has had to shut down its plant in Shanghai for a total of 12 production days in recent weeks because of China’s COVID-19 lockdowns.
https://www.agent-entrepreneur.com/367668/covid-19-shutters-production-in-china
The seasonally adjusted Retention Index went down to 187.7 points in March 2022 as modified Spring arrives late.
https://www.agent-entrepreneur.com/367658/black-books-used-vehicle-retention-index-drops-for-the-first-time-since-july-of-2021