The company will idle plants in Flint, Michigan; Fort Wayne, Indiana; and Silao, Mexico, just one week after the plants resumed production after an earlier shutdown related to the shortage.
Days-to-turn for used retail listings have been increasing, as retail demand softened over the last few weeks.
Ford presently offers only five key vehicle models in the country including its flagship EcoSport and Endeavour models, which are now losing share to newer competing products.
Kerrigan Advisors’ Founder Erin Kerrigan predicts unprecedented buy/sell activity through 2022.
The U.S. auto market has seen growth this year in nearly every segment, but no segment is growing more quickly and more relentlessly than electrified vehicles.
“We expect inventories to continue to normalize throughout the back half of 2021 and in the first part of 2022,” said Chris Holzshu, Lithia chief operating officer, in an earnings conference call.
President Joe Biden has proposed a return to aggressive Obama-era vehicle mileage standards over five years.
The new capital will fuel TRADE X's growth strategy and drive forward its mission of eliminating barriers to buying and selling pre-owned vehicles across international borders.
While this is the fourth consecutive week of declining wholesale values, decreases are still relatively modest compared to year-to-date gains.
Cadillac announces that every new or redesigned vehicle in North America will be electric to fulfill the luxury brand’s role as General Motors’ lead EV brand.
Manufacturers are entering commitments to produce more automotive-grade chips for automotive manufacturers that have idled production amid the shortage.
Manheim’s local auction network hosts 49 sales per month nationwide, with dealers averaging a 77% sales efficiency rate based on Manheim data.
Used wholesale and retail prices are starting to stabilize in July (although at a remarkably high plateau), but new car sales are still on a rollercoaster as the chip shortage is finally showing up in the new sales numbers.
AutoNation predicts demand for new vehicles will continue into next year, as low-interest rates and robust demand helped the retailer boost quarterly earnings estimates.
A Trump-era USMCA interpretation could subject used vehicles shipped to the U.S. to import fees.
Kelley Blue Book editors rank and comment on the 10 Best Back-to-School Cars for 2019, all starting at around $20,000 or less and still available on new-car lots.
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