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- 🚗 New car market unbothered by high rates
🚗 New car market unbothered by high rates
Plus: Car brand loyalty is decreasing, Biden visits UAW strike, Tesla beating the competition, CarMax stock plunges, Porsche's new 911, and more.
Happy Friday morning. This is Car Alerts with your weekly news and market update from the fast world of cars.
In today’s edition:
New car market versus high rates and strikes
Biden visits Michigan
Tesla stomping competitors
Decreasing car brand loyalty
CarMax plunges on missed earnings
Porsche unveils limited edition 911
and more
MARKETS 📈
Note: Stock market data as of Thursday’s market close.
HEADLINES 📰
New-vehicle market shrugs off high loan rates, UAW strike, closes Q3 on a strong note.
With more choices, brand loyalty slips among new-vehicle owners, J.D. Power finds.
Biden says UAW should fight for 40% pay raise in Michigan strike visit.
Tesla's rivals scrap for thin slices of US EV sales as Tesla pushes them into unprofitable, low-volume niches.
Porsche unveils new $1MM 911 GT3 R Rennsport as a limited edition of 77.
More EV models on market; sales up sequentially and year-over-year, according to the Alliance for Automotive Innovation.
US lawmakers push Ford to hand over documents on battery deal with China’s CATL.
Americans broadly support auto, Hollywood strikes, Reuters/Ipsos poll shows.
Soon buyers will be able to transfer EV tax credit into a down payment, making car dealers nervous.
Sales of new manual-equipped cars increased to 1.7% of the total market this year, up from 0.9% in 2021.
Honda forms largest EV partner network in the US despite not yet selling an EV in the country.
Ford becomes first automaker to offer digital license plates as official accessory.
Polestar 3 development almost done, US production to start in Q1 2024.
China's Nio launches smartphone developed to use with its electric cars.
Japan's Mitsubishi Motors to end production in China due to sluggish sales and increased competition.
RECALLS & LAWSUITS
U.S. sues eBay accusing the online platform of violating the Clean Air Act and other environmental laws.
That’s all we have for you this week. We’ll see you next Friday morning with more car content.
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