Global EV Sales Surging, Top $1 Trillion All-Time
Global spending on electric vehicles is surging. According to a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before.
Auto Sales Fell 8% in 2022 Amid Supply Chain Struggles
Shortages of computer chips and other parts continued to hobble the U.S. auto industry last year, contributing to vehicle sales dropping 8% from 2021 to their lowest level in more than a decade.
Auto Prices Finally Begin to Creep Down From Inflated Highs
While prices on new and used vehicles remain 30% to 50% above where they were when the pandemic erupted, signs are pointing to many vehicles becoming slightly more affordable.
Auto Sales Expected to Fall 17% This Year
Vehicle sales in the U.S. are expected to fall 17.3% this year to the lowest level in a decade as semiconductor shortages and other supply chain problems continue to hamper production.
Q&A: AutoNation CEO Sees Vehicle Prices Moderating This Year
DETROIT — Prices of new and used automobiles are staggeringly high, and that’s partly responsible for strong earnings last year by AutoNation, the country’s largest dealership group.
Auto Sales to Edge Up 3.4% as Shortages Continue
U.S. auto sales will climb just 3.4% this year to 15.4 million cars and trucks as the semiconductor shortages continue to constrain vehicle inventory, auto dealers predict.
GM Loses Spot Atop US Car Market to Toyota
For the first time since 1931, General Motors Co. isn’t the top-selling automaker in the U.S. The Detroit-based company lost its crown to Japanese rival Toyota Motor Corp., which boosted sales 10% last year despite a 28% decline in the fourth quarter.
New Auto Sales Up in 2021, but Below Pre-Pandemic Numbers
U.S. new vehicle sales rebounded slightly last year from 2020’s dismal numbers, but forecasters expect them to be more than 2 million below the years before the coronavirus pandemic.
Car Sales Drop as Chip Shortages Stymie Buyers
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.
Hertz Files for Bankruptcy After Rental Car Demand Vanishes
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.