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As new vehicle inventory remains constant, and prices for both new and used cars begin to level off, dealers are continuing to benefit from high levels of profit.
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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.
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Toyota Motor Corp will cut global production by about 100,000 to roughly 850,000 vehicles in June due to the semiconductor shortage.
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High gas prices lead more shoppers to consider traditional sedans and hybrids in the first quarter of 2022, likely benefiting Toyota.
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The overall market continued to experience increases last week, with the more fuel-efficient segments reporting some of the largest gains.
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The company plans to delay filling some open positions after hiring 7,000 new salaried workers already in 2022.
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S&P research shows the average vehicle age rose to 12.2 years in 2022, representing a 2% increase from 2021.
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The 2022 Working Relations Index shows Toyota in first place, with Honda rapidly closing in.
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Editors recommend best new vehicles for recent college graduates.
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General Motors hopes its Ultium platform, which consists of batteries, motors, software and other components, will help it grow EV market share and overtake Tesla as the No. 1 EV maker.
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