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Stellantis denies merge rumors, Fed holds rates steady, Ford’s factory closures

Inside Automotive

Shawn Vaughan joins Inside Automotive to share his insights into how Toyota is facing the new and used car markets in 2024.How Toyota dealers are keeping revenues stable in the wake of weakened inventory — Shawn Vaughan | Vaughan Automotive
On this episode of Inside Automotive, host Shyann Malone is joined by Shawn Vaughan, owner and CEO of Vaughan Automotive and owner of Mike Calvert Toyota and Toyota of Boerne. As a high-profile dealer in one of the U.S.’s biggest markets (Texas), Vaughan has his finger on the pulse of the retail automotive sector and the changes impacting car buyer preferences. Now, he shares his insights into the 2024 auto market and beyond. Watch full segment here.

Top Stories

Federal Reserve chair Jerome Powell still expects to see interest rates come down in 2024 but said the central bank still needs more time.Federal Reserve Chair Jerome Powell confirmed that the economy remains on track to avoid a recession and allow for interest rate cuts later in the year during a “60 Minutes” interview on CBS News. “I do think the economy is in a good place, and there’s every reason to think it can get better,” Powell remarked. Although the notoriously guarded Fed leader displayed uncharacteristic optimism during the interview, the central bank ultimately decided to keep interest rates flat during their most recent meeting. Read More

Stellantis leadership has dismissed rumors of a potential consolidation with automaker Renault following the withdrawal of Ampere's IPO.Stellantis leadership has dismissed rumors of a potential consolidation with French automaker Renault following a media report claiming France’s government was weighing a merger between the two companies. Stellantis chairman John Elkann noted there was (quote) “No plan under consideration regarding merger operations with other manufacturers.” Read More

Ford temporarily laid off thousands of union workers as it sought to resolve a parts supplier issue disruption production of F-150 pickups.Ford temporarily suspended 9,700 union workers while it resolved supplier challenges disrupting 2024 f-150 and f-150 lightning manufacturing. The issue caused closures at the Kansas City Assembly Plant in Missouri and the Dearborn Truck Plant in Michigan, lasting seven and six days, respectively. Read More

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For over 11 years, CBT News has been informing and helping automotive retail professionals grow their businesses and thrive in their careers through an awarding-winning, on-demand streaming platform. With exclusive interviews featuring the biggest names in the industry, daily newscasts, up-to-date market data, and exclusive articles covering the latest trends, CBT News is your #1 source for auto industry news and content.

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