car sales
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.
September 30, 2021Hertz 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. (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.
May 26, 2020Automakers Avoid Disaster With 0% Financing
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, 2020Fear of an Impending Car-Price Collapse Grips Auto Industry
(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, 2020Moody’s Downgrades Auto Sales Forecast on Coronavirus Fears
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, 2020Carmakers Sell More to Rental Companies as Retail Demand Weakens
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, 2019Most 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