Wholesale prices of used cars declined for the sixth straight month in November, after hitting record levels earlier this year, but retail prices remain stubbornly high as American shoppers face rising interest rates. The Manheim Used Vehicle Value Index, a leading indicator of wholesale used-car prices in the United States, dipped 0.3 from October to…
Americans Still Face Used-Car Sticker Shock Despite Dip in Wholesale Prices
December 8, 2022
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LIVE NOW: Could New Iran Nuclear Deal Help China?; US Household Net Worth Suffers Record Drop | NTD Business
US household wealth falls by a record amount in the second quarter. What’s behind the drop? With the push for electric vehicles, some are worried it could cause job losses in the traditional auto industry. We take a deep dive into the Iran Nuclear Deal talks and how the deal could benefit China if it goes…
Could New Iran Nuclear Deal Help China?; US Household Net Worth Suffers Record Drop | NTD Business
US household wealth falls by a record amount in the second quarter. What’s behind the drop? With the push for electric vehicles, some are worried it could cause job losses in the traditional auto industry. We take a deep dive into the Iran Nuclear Deal talks and how the deal could benefit China if it goes…
South Korea Becomes More Reliant on China for Auto Parts, Expert Urges Supply Chain Diversification
June 24, 2022
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South Korea’s auto industry has become increasingly dependent on China for parts, leading to calls for supply chain diversification. Cho Chul, an analyst with the Korea Institute for Industrial Economics and Trade (KIET), a government-funded think tank, recently highlighted how automobile parts imports from China have increased over the past two decades. “China only accounted…
Auto Industry Supply Chain Crisis Predicted To Be ‘Temporary’: Neuberger Berman
The auto industry’s ongoing supply chain disruption caused by Russia’s invasion of Ukraine is not likely to be a long-term problem according to investment managing firm Neuberger Berman. “Although Russia and Ukraine together only represent 2.1 percent of global light vehicle sales, the impact for some European original equipment manufacturers has been disproportionately larger than…
3 Ways Rising Gas Prices Are Impacting the Auto Industry
Chip shortages, supply chain disruptions and depleted inventory levels are just three of the headwinds auto stock investors have been dealing with in recent quarters. On Tuesday, Bank of America analyst John Murphy said auto investors can now add skyrocketing gas prices to the mix of problems for the auto industry. Murphy said the near-term…
Amazon and Stellantis Partner to Deploy Smarter Cars, Cleaner Vans
Amazon.com Inc and Stellantis NV said Wednesday they will collaborate to develop cars and trucks with Amazon software in the dashboards, and deploy electric vans made by Stellantis on Amazon’s delivery network. The agreements expand Amazon’s efforts to get a bigger foothold in the transportation industry, and could help Stellantis close the gap with Tesla…
China Admits Its Over-Reliance on Semiconductor Imports Could Prove ‘Fatal’
News Analysis A Chinese state-run media disclosed that China’s continued reliance on chip imports could be “fatal” to its automotive industry and national economy. On Nov. 23, the state-run Xinhua News Agency reported that China’s domestically produced automotive chips are primarily used in less complex vehicle components such as body electronics, while it relies heavily…
Toyota Announces Plans for $1.3 Billion US Battery Plant, Expects to Employ 1,750 Workers
Toyota announced Monday it will invest $3.4 billion in automotive batteries in the United States, including nearly $1.3 billion in an unnamed battery plant that is expected to employ 1,750 new workers. The new production, expected to begin in 2025, will allow the automaker to develop its own lithium batteries for use in future hybrid…
Canadian Auto Production Hit Especially Hard by Semiconductor Shortage
TORONTO—To be an autoworker in Canada this year has meant living with a fair bit of uncertainty. “There’s no consistency,” said Mark Sciberras, president of the Unifor local branch at Ford Motor Co.’s Oakville, Ont. operations. “One week to the next, you don’t know if you’re working.” The Oakville plant, like so many auto assembly…
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