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Vehicle Sales

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Affordability Crisis Shrinks U.S. Car Sales as Monthly Payments Climb
business1 day ago

Affordability Crisis Shrinks U.S. Car Sales as Monthly Payments Climb

Rising new-car prices, higher financing costs, and longer loan terms are squeezing buyers and tempering demand, with 2026 U.S. new-car sales expected around 16 million (down from 16.3 million in 2025). Tariffs and higher destination charges have raised costs for automakers, production shifts and pricey new tech add to sticker prices and insurance costs. The average monthly payment is about $774 for late-2025 loans, and more consumers face affordability hurdles even as affluent buyers keep some momentum in the market.

via The New York Times|
#affordability#auto-loans#business
Tesla's Q3 Profit Declines Despite Rising Sales and Robotaxi Plans
business4 months ago

Tesla's Q3 Profit Declines Despite Rising Sales and Robotaxi Plans

Tesla's quarterly profits declined for the fourth consecutive time despite a rise in vehicle sales, influenced by factors such as customers rushing to use a federal EV tax credit and increased diversification into AI and robotics. The company's revenue increased to $28.1 billion, but profit margins and earnings per share fell, raising concerns about demand and market competition. Elon Musk emphasized future growth in robotaxi and AI products, while investor confidence remains cautious due to ongoing challenges in the EV market.

via AP News|
#business#elon-musk#ev-market
Ford Offers Lower Rates to Subprime Buyers to Boost F-150 Sales
business5 months ago

Ford Offers Lower Rates to Subprime Buyers to Boost F-150 Sales

Ford is offering special financing rates to buyers with lower credit scores (below 620) to boost F-150 sales before the end of Q3, aiming to make vehicles more affordable despite the higher risk associated with subprime lending. This move aligns with industry trends as automakers like Stellantis and General Motors also provide low-interest deals to attract buyers amid rising vehicle prices and high interest rates.

via CNBC|
#auto-financing#business#f-150
Ford's October Sales Surge 15% Amid Labor Strike Recovery
business1 year ago

Ford's October Sales Surge 15% Amid Labor Strike Recovery

Ford Motor reported a 15.2% increase in U.S. vehicle sales in October 2024, recovering from subdued levels due to a union strike in 2023. The growth was driven by a 29.2% rise in truck sales, despite a decline in electric vehicle sales by 8.3%. Ford's market share increased to 12.6%, with hybrid vehicle sales up 38.5%. The company plans to pause production of its all-electric F-150 Lightning from mid-November to early January.

via CNBC|
#business#electric-vehicles#ford
Ayvens and Stellantis Strike Deal for 500,000 Vehicles
business2 years ago

Ayvens and Stellantis Strike Deal for 500,000 Vehicles

Stellantis has secured a multi-billion-euro frame agreement with fleet management company Ayvens to sell up to 500,000 vehicles across Europe over the next three years. The vehicles will be purchased for Ayvens' long-term leasing fleet, with the first deliveries expected in the first half of 2024. This deal, which includes brands like Alfa Romeo, Fiat, and Peugeot, aims to support the transition to more sustainable mobility options for Ayvens' clients.

via Reuters|
#ayvens#business#europe
"New EV Tax Credits: Making It Easier to Save on Electric Vehicles"
business2 years ago

"New EV Tax Credits: Making It Easier to Save on Electric Vehicles"

The IRS is now allowing EV buyers to claim up to $7,500 in tax credits right at the dealership, providing a much-needed boost for the struggling EV sector. This change comes as the government has been rolling back some terms, leading to confusion among consumers about vehicle eligibility. However, buyers must ensure their eligibility doesn't change between purchase and tax submission, as they may have to repay the credit if they become ineligible.

via Fortune|
#business#electric-vehicles#ev
"Whitmer's Vehicle Rebate Plan: Lower Prices, Boost Sales, and Union Incentives"
economic-policy2 years ago

"Whitmer's Vehicle Rebate Plan: Lower Prices, Boost Sales, and Union Incentives"

Michigan Governor Gretchen Whitmer has proposed expanding a tax rebate plan to include both electric and internal combustion engine vehicles, with larger rebates tied to purchases from union shops. Under the plan, individuals purchasing a new electric or hybrid vehicle would receive a $2,000 rebate, while those buying a new gas-powered vehicle would receive a $1,000 rebate. The rebates would increase by $500 if the vehicle is made at a union-represented facility. Whitmer plans to request $25 million in funding from the state legislature for the program. The proposal aims to lower costs, support auto workers, and stimulate vehicle manufacturing in Michigan.

via Detroit News|
#economic-policy#gretchen-whitmer#michigan
Tesla's Legal Battle Against Cybertruck Resellers
business2 years ago

Tesla's Legal Battle Against Cybertruck Resellers

Tesla has included a clause in its motor vehicle order agreement for the Cybertruck, stating that it can sue customers for $50,000 if they resell the vehicle within a year of purchase. The company may seek injunctive relief or the value received for the sale, whichever is greater. Customers can avoid this by obtaining written consent from Tesla, although the conditions for granting exceptions are unclear. This move is likely aimed at ensuring that the Cybertruck is only sold to those who have paid for it, possibly due to the vehicle not entering mass production until next year.

via Mashable|
#business#cybertruck#lawsuit
business2 years ago

NIO Inc. Reports Impressive 60% Increase in October Deliveries

NIO Inc., a leading company in the premium smart electric vehicle market, announced that it delivered 16,074 vehicles in October 2023, a 59.8% increase compared to the previous year. The cumulative deliveries of NIO vehicles reached 415,623 as of October 31, 2023. Additionally, NIO's ET5T model received a five-star safety rating from the European New Car Assessment Programme (Euro NCAP). NIO remains committed to providing the highest safety standards and a joyful experience for its users.

via Yahoo Finance|
#business#delivery-update#electric-vehicles