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Ford Motor Co. saw U.S. sales rebound sharply in July for the second consecutive month while Toyota Motor Corp. and Honda Motor Co. saw sales dip for the 12th consecutive month.
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The Retention Index decreased to 189.4 points in July as consumer confidence remained at historic lows.
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The company saw revenue more than double to $8.1 billion as customers continued to hail rides and order takeout food.
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Used Retail Prices are more accessible than in years past, due to the proliferation of ‘no-haggle pricing’ for used-vehicle retailing.
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General Motors has asked its dealers to help prevent customers from quickly flipping high-demand vehicles and adding high markups.
Read More →Ford Motor stock hit its best month since the Great Recession, advancing nearly 32% since its 127.4% surge in April 2009.
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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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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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