Starting in 2024, eligible EV buyers will be able to transfer federal tax credits to dealers and use those funds as a down payment. Dealers, anxiously awaiting details on the process, are worried about a Cash for Clunkers scenario that could leave them footing the bill for several months.
We have launched the Automotive News Dealership Salary Survey and want to hear from U.S. employees in jobs ranging from general managers to service technicians. Findings will be published Jan. 22.
Dealers said new-car inventory remains mostly stable in the second week of the UAW strike. But some are readying for a wider range of vehicles to become unavailable if the strike persists and expands to other assembly plants.
The UAW added 5,600 workers at GM and Stellantis parts depots to its escalating strike, threatening dealerships' service business, but said it had made 'real progress' in talks with Ford.
Lithia's potentially transformative deal for Pendragon would significantly grow the auto retailer's U.K. footprint, add a sizable fleet business and give the company a pathway to a dealership management system. But Lithia has competition for the deal after Penske and another firm submitted multiple joint offers for Pendragon.
Some 13,000 workers in Ohio, Michigan and Missouri who began the strike against the Detroit 3 are hoping for a good outcome and ready to stay off the job longer if necessary.
Suppliers impacted by the UAW strike are hoping to avoid laying off workers for as long as they can, fearing that those workers will find other jobs by the time automakers resume production.
GM, Ford and Stellantis each say they're offering to stop having multiple wages for hourly workers, but the union wants to go further and have all workers earn equal pay after 90 days on the job.
The UAW's strike against the Detroit 3 has made an already precarious financial situation for many suppliers even more fraught — and the automakers might be in part to blame, industry experts said.
Lexus' new global brand boss, Takashi Watanabe, says a big transformation is on the way from 2026 as the automaker leaps into its next-generation electric vehicles. The road forward will be teased next month as Lexus previews the first concept for those EVs at the Japan Mobility Show.