Tag: auto industry
Manchin, Schumer reach surprising deal on hefty climate action bill
In a surprise turn of events, Senate Majority Leader Chuck Schumer and Senator Joe Manchin announced a deal that includes $369 billion for energy and...
Randy Parker promoted to Chief Executive Officer of Hyundai America
In response to the ongoing chip scarcity, Hyundai Motors, the largest automaker in South Korea, announced Friday that it has appointed a new Chief Executive...
CBT automotive newscast: August 1, 2022
Inside Automotive:
Sonic Automotive President Jeff Dyke discusses powerful Q2 2022 performance
Sonic Automotive has announced all-time record revenues and gross profit for the second quarter....
Supply chain problems still hindering auto sales—Is there an end in...
We know that successful dealership operations primarily rely on strong vehicle sales, but manufacturers cannot produce enough cars to satisfy consumer demand. Today on Inside Automotive,...
Minority franchise dealers increased by almost 9% in 2021, NAMAD data...
According to the National Association of Minority Automobile Dealers (NAMAD), the number of minority franchised dealerships rose by almost 9% from 2020 to 2021. There...
GDP slips 0.9% for second straight quarterly decline—Biden, Yellen deny US...
According to the Bureau of Economic Analysis, US GDP, or gross domestic product, shrank by 0.9% in the second quarter. To tackle inflation and decrease the...
Sonic Automotive reports all-time record revenues and gross profit for Q2
Sonic Automotive has reported its second quarterly earnings. According to a press release, Sonic Automotive had an all-time record adjusted earnings of $3.7 billion,...
Ford Q2 earnings surpass expectations, raises shareholder dividend 50%
Despite trouble with the global supply chain, Ford's adjusted earnings has tripled from a year ago to $3.7 billion as it increases deliveries. After the news was released,...
Rivian confirms at least 800 layoffs, shifts focus to accelerating production
Amy Mast, a spokesperson for Rivian Automotive, has confirmed in an email that at least 6% or 800 out of 14,000 of its employees will be...
CBT automotive newscast: July 29, 2022
Inside Automotive:
Supply chain problems still hindering auto sales—Is there an end in sight?
We know that successful dealership operations largely rely on strong vehicle sales,...
