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- 🚗 Progress but no deal in Detroit
🚗 Progress but no deal in Detroit
Plus: Rising new car sales and inventory, UAW talks continue, Ford probe, Porsche battles resellers, Rivian stock plummets, and more.
Happy Friday morning. This is Car Alerts with your weekly news and market update from the world of cars.
In today’s edition:
UAW talks continue; no deal yet
New car sales up in Q3
New inventory at highest levels since Spring ‘21
NHTSA expands Ford probe
Rivian stock drops >20%
Porsche battles resellers
and more
MARKETS 📈
Note: Stock market data as of Thursday’s market close.
HEADLINES 📰
U.S. new vehicle sales jump in third quarter as UAW strike casts shadow.
New-vehicle inventory rises despite UAW strike; GM most vulnerable.
EV maker Rivian shares have record drop after convertible bond offering launched.
Rivian lost $32,595 for every vehicle it sold in Q2 2023.
LG and Toyota signed a battery supply agreement to power U.S. EVs.
Ford announces new F-150 Lightning Flash trim with more range, a bigger screen, and a heat pump.
Porsche 911 S/T will be leased to buyers for the first year to deter scalpers.
Mack Trucks workers get 19% raise over 5 years in UAW contract.
RECALLS & LAWSUITS
GM could have at least 20 million vehicles recalled with possible faulty air bags.
U.S. expands probe into Ford engine failures to include two motors and nearly 709,000 vehicles.
VW Atlas automatic emergency braking investigated and includes more than 184,000 SUVs.
That’s all we have for you this week. We’ll see you next Friday morning with more car content.
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