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The Massachusetts attorney general cautioned the state’s automotive dealers to be upfront with the consuming public about their vehicle prices or risk punishment.
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The Ukraine invasion has ramped up the price of metals used in vehicles and OEMs likely will pass these costs on to consumers.
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Experts predict the Russian invasion of Ukraine could slash global production of new cars and trucks by millions of units in 2022.
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Sixteen now stand together in challenge to the EPA's tougher vehicle emissions rules that rollback reduced rules set under the Trump Administration.
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The number of potentially affected vehicles has also fallen with 4,622,752 vehicles affected so far.
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Volkswagen and Renault will suspend operations temporarily as Russia’s invasion of Ukraine impacts European supply chains.
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Aluminum jumped up to 4.8% to $3,449 a ton on the London Metal Exchange, while nickel rose to the highest level since 2011.
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CEO Jim Farley says the automaker has no plans to spin off its EV business during a virtual Wolfe Research investor conference.
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A coalition has asked the U.S. Treasury Department to grant relief to dealers employing the LIFO tax deferment strategy who face excessive tax bills this spring.
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The Estimated Average Weekly Sales Rate has dropped to 61% this week, after a few weeks at 62%. This is not surprising as wholesale buyers try to anticipate consumer sentiment and wholesale seller behavior.
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LMP Automotive Holdings Inc. plans to terminate seven pending purchases of many auto dealerships due to an inability to secure financial commitments.
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