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Automakers sold your data for pennies
Plus: New inventory continues to rise, Toyota's record profit, latest research from J.D. Power, recent recalls, and more.
Ruben A
August 02, 2024
Happy Friday morning. This is Car Alerts with your weekly recap of the latest car news and market happenings.
In today’s edition:
New inventory continues to climb
Automakers sold customer data for pennies
Toyota posts record profit
July sales up 5% year-over-year
Recent recalls
and more
MARKETS 📈
Note: Stock market data as of Thursday’s market close.
HEADLINES 📰
New vehicle inventory up 57% from last year, marking the 13th consecutive month of increases
Automakers sold driver data to insurance companies for next to nothing
Toyota reports record quarterly profit, boosted by a weak yen and despite a certification scandal
July sales up 5% from 2023, boosted by June’s software outages, according to J.D. Power and GlobalData
BMW reported a lower-than-expected profit margin in its core automotive segment
Stellantis warns of possible layoffs, offers broad buyouts to U.S. salaried workers
Volkswagen doubles down on cost cuts to try to revive margins
CarShield to pay $10M in deceptive advertising settlement charges
Too many US-built vehicles need fixing straight off the line, Stellantis CEO says
Lighted crosswalks make drivers more apt to yield to pedestrians, IIHS finds
RECALLS
That’s all we have for you this week. We’ll see you next Friday morning with more car content.
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