FROM COX AUTOMOTIVE: Auto Dealers’ Attention Turns to Inflation, High Costs and Tight Inventory
Dealer sentiment has slipped for the fourth straight quarter. Opinions toward inventory levels have flip-flopped year over year, with outlooks toward new inventory supply improving and used inventory supply declining.
FROM REUTERS: U.S. Automaker CEOs, Toyota Urge Congress to Lift EV Tax Credit Cap
OEMs are no longer eligible for the consumer tax credit once they’ve sold 200,000 EVs. Automakers that have already exceeded this threshold are requesting additional incentives, while lawmakers insist consumer demand is high enough to go without.
FROM AUTOMOTIVE NEWS: U.S. Vehicle Inventory Stays Flat at 1.13 Million
Vehicle inventory supply has been consistently around 35-days since January 2022, a 30% decrease from inventory stock last year. Yet, full-size trucks have the highest supply, with Ram, and Chevy and Ford settling at a 70 and 50-day supply, respectively.
FROM NADA: GM CEO Says ‘We Are Selling Every Truck We Can Build’
General Motors plans to pursue a two-track strategy as it aims to sell every truck it produces. Maximized revenues from this expenditure will be used to invest extensively in EV production in North America, China, and other markets.
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