car sales

Business, Logistics

Car Sales Drop as Chip Shortages Stymie Buyers

Car Sales Drop as Chip Shortages Stymie Buyers The Huntington Ford dealership on Rochester Road in Rochester Hills, Mich. (iStock/RiverNorthPhotography)

After sounding an optimistic note in the first half of the year as soaring car prices padded their profits, auto executives have become more resigned to supply chain headaches after recent COVID-19 outbreaks in Malaysia hampered semiconductor production.

Gabrielle Coppola | Bloomberg News
September 30, 2021
Government, Business

Hertz Files for Bankruptcy After Rental Car Demand Vanishes

Signage is displayed outside of a Hertz rental location at Los Angeles International Airport (LAX) in Los Angeles in August 2019. Signage is displayed outside of a Hertz rental location at Los Angeles International Airport (LAX) in Los Angeles in August 2019. (Martina Albertazzi/Bloomberg News)

Hertz Global Holdings Inc., the rental car company founded with a dozen Ford Model Ts more than a century ago, filed for bankruptcy late May 22 after sweeping travel restrictions and the global economic collapse destroyed demand for its vehicles.

Jack Pitcher and David Welch | Bloomberg News
May 26, 2020
Business

Automakers Avoid Disaster With 0% Financing

Cars on dealership lot General Motors vehicles on display at a car dealership in Tinley Park, Ill. (Daniel Acker/Bloomberg News)

Zero-percent auto financing deals hit a record last month as carmakers kept the U.S. auto market from collapsing.

May 1, 2020
Government, Business

Fear of an Impending Car-Price Collapse Grips Auto Industry

Customers shop for used vehicles outside of a CarMax in California in 2014. (Bloomberg News)

The auto industry — already fretting lengthy factory shutdowns and depressed new-vehicle demand — is starting to sound the alarm about a potential used-car price collapse that could have far-reaching consequences for manufacturers, lenders and rental companies.

April 13, 2020
Business

Moody’s Downgrades Auto Sales Forecast on Coronavirus Fears

Cars on lot Daniel Acker/Bloomberg News

FRANKFURT, Germany — Ratings agency Moody’s is lowering its forecast for global auto sales because of the new coronavirus outbreak.

February 26, 2020
Business, Technology, Logistics

Carmakers Sell More to Rental Companies as Retail Demand Weakens

Cars Patrick T. Fallon/Bloomberg News

Stronger-than-expected new car sales last month belied a dirty little secret: Automakers have been selling more vehicles to rental fleets in recent months to prop up volume.

April 4, 2019
Business

Most Automakers Report Higher U.S. Auto Sales in October

Tom Biery/Trans Pixs

A majority of top automakers said their U.S. sales increased in October from a year ago, Associated Press reported.

November 2, 2011