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Sony-Honda venture cancels two planned models, the first of which had been pegged for a mid-2026 California delivery debut. The brand’s direct sales had been challenged by the state’s auto dealers, but the venture cites Honda’s EV retreat.
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It’s time to create an environment and culture that welcomes the inherent fears and curiosities of EV buyers, and those who aren’t EV buyers-yet.
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Last week, wholesale price declines lessened, coming in at a level on par with last July (apart from the weeks around Thanksgiving and Christmas when volume and conversions were down), before the declines began to accelerate for Q3 and Q4.
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The Detroit automaker has earmarked $854 million to prepare four plants to produce its sixth generation Small Block V-8 engine.
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Cox reports that in the auto sector sales of motor vehicles and parts fell in December.
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New research from Cox Automotive shows consumer satisfaction with the car buying process declined in 2022 for the second consecutive year.
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Tesla has built a commanding lead over most major rivals in profit per vehicle, according to Reuters research.
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TransUnion research finds a lack of inventory and low interest rates turned consumers away from leasing new cars and trucks over an 11-month period.
Read More →Cox’s Auto Market Weekly Summary for January 13 shared both positives and negatives.
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Auto industry analysts remain on high alert for “demand destruction” as high interest rates, escalating vehicle costs, and a down economy threaten auto sales.
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With two weeks of the new year now behind us, the trends that we ended 2022 with are continuing into 2023.
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