Expert says a move away from ICE models could lift BEV and ICE markets for a time.
LMC Automotive and J.D. Power predict U.S. auto retail sales will rise in October as supply chains improve and make more vehicles available to dealerships.
J.D. Power and LMC Automotive report predicts average new vehicle transaction prices will hit a record $46,259 in August.
The seasonally adjusted, annualized rate of sales fell to 12.81 million in May, according to Motor Intelligence.
Industry analysts predict U.S. auto retail sales will dip in January as manufacturing slows.
Ford Motor Co. CEO Jim Farley says he hopes to overtake Tesla in U.S. electric-vehicle sales, but first he hopes to overtake GM.
The proposed strategy includes building 500,000 charging stations for electric vehicles across the country and lowering the cost of electric cars.
Combined sales at the seven major automakers that release monthly results dropped 17% in October. Automakers cite the semiconductor chip shortage and supply chain bottlenecks as the reason.
Cox Automotive and LMC report new-vehicle inventories shrank to just over 915,000 in September and predict further shrinkage as production issues and supply shortages linger.
U.S. new vehicle retail sales are expected to drop 888,900 units in September, from 1,182,788 a year ago.
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