Latest Automobile dealing News

Edmunds: How to mitigate or avoid dealer markups

Aug. 10, 2022 06:47 AM EDT

Throughout 2022, new-car shoppers have been paying an average of about $700 over the manufacturer’s suggested retail price, according to Edmunds data. Those in the market for a new vehicle today may experience sticker shock after seeing a dealership has priced the vehicle they want well over...

Hobbled by chip, other shortages, GM profit slides 40% in Q2

Jul. 26, 2022 11:06 AM EDT

DETROIT (AP) — General Motors' second-quarter net income fell 40% from a year ago as computer chip and parts shortages hobbled factory output and drove the company's U.S. sales down more than 15%. The Detroit automaker earned $1.67 billion from April through June, in part because...

Automakers targeting average households with new crop of EVs

Jul. 19, 2022 13:35 PM EDT

WARREN, Mich. (AP) — In their first rollouts of electric vehicles, America's automakers targeted people who value short-range economy cars. Then came EVs for luxury buyers and drivers of pickups and delivery vans. Now, the companies are zeroing in at the heart of the U.S. auto...

China auto sales rebound in June after weak first half

Jul. 11, 2022 04:40 AM EDT

BEIJING (AP) — China’s auto sales rose by a lackluster 3.4% over a year earlier in the first half of 2022 as anti-virus controls kept buyers away from dealerships, but demand in the industry’s biggest global market rebounded in June, an industry group reported Monday. Sales in...

Chip shortage leaves 95K GM vehicles unfinished in storage

Jul. 01, 2022 10:58 AM EDT

DETROIT (AP) — The global shortage of computer chips and other parts forced General Motors to build 95,000 vehicles without certain components during the second quarter. The Detroit automaker said in a regulatory filing Friday that most of the incomplete vehicles were built in...

Minnesota auto dealers file 2nd suit over "clean cars" plan

Jun. 10, 2022 11:50 AM EDT

ST. PAUL, Minn. (AP) — Minnesota auto dealers are suing over the state's “clean cars” plan, saying the rules violate state law by improperly delegating the state’s authority to the California Air Resources Board. The rules adopted last year by the Walz administration and...

High prices, low inventory, a new norm for car shoppers

Jun. 08, 2022 06:22 AM EDT

Shopping for a new or used car over the last couple of years has become a more challenging endeavor. Because of the COVID-19 pandemic and its after-effects, we’ve had to deal with factory closures, supply chain issues, a worldwide shortage of semiconductor chips, vehicle shortages, price hikes on...

On Venezuelan roads, old cars prevail, break down everywhere

May. 21, 2022 09:47 AM EDT

CARACAS, Venezuela (AP) — A 1983 Chevrolet C-10 pickup is the workhorse of Argenis Ron’s party equipment rental business. He uses it to haul chairs, tents and tables to gatherings all across Venezuela's sprawling capital. The once-white paint is slightly yellowish and the body...

Maine senator joins push to help car dealers during pandemic

May. 14, 2022 14:41 PM EDT

PORTLAND, Maine (AP) — Maine's independent senator has joined an effort to try to help car dealerships cope with supply chain difficulty. Sen. Angus King said dealerships in his state are facing higher costs and limited inventory due to supply chain disruption. He said he is...

Mercedes tells owners of 292K vehicles to stop driving them

May. 12, 2022 11:30 AM EDT

DETROIT (AP) — Mercedes-Benz is telling the owners of more than 292,000 vehicles in the U.S. to stop driving them due to a problem that could cause the brakes to fail. The German automaker is recalling the vehicles and says it will offer free towing so the owners can get them to a...