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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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Report forecasts production cuts resulting from issue this year.
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Early figures show about 10% drop, but there was a late-year surge.
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The Detroit automaker sold 1.86 million vehicles in 2022, down from 1.91 million in 2021.
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In the fourth quarter, Stellantis reported new vehicle sales declined 16% to 347,669 vehicles.
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Lawsuit that sought to bar such sales in the state by Rivian, Lucid dismissed.
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Chip shortage weighs on its sales more than some other competitors.
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Diesel fuel prices have started to fall, but they still remain at historical highs.
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Sales of new automobiles plunged to under 14 million vehicles in 2022, the lowest since 2011, reports Kelley Blue Book.
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