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The company saw revenue more than double to $8.1 billion as customers continued to hail rides and order takeout food.
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Used Retail Prices are more accessible than in years past, due to the proliferation of ‘no-haggle pricing’ for used-vehicle retailing.
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General Motors has asked its dealers to help prevent customers from quickly flipping high-demand vehicles and adding high markups.
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Ford Motor stock hit its best month since the Great Recession, advancing nearly 32% since its 127.4% surge in April 2009.
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The House is expected to also pass the bipartisan bill that earmarks billions of dollars to boost domestic semiconductor production.
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General Motors, Ford Motor and Stellantis may need to boost wages as they negotiate a four-year labor contract for 150,000 employees.
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Penske Automotive Group reported a 10% rise in income to $375.9 million in the second quarter, its most profitable quarter ever.
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Whether it is as a result of current inflationary pressures causing a pullback from consumers, or is more evidence of a return to traditional seasonal valuation patterns, prices have dropped for most segments as we reach the mid-point of summer.
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July U.S. auto sales are expected to show very little change from June’s results as a lack of supply continues to batter the new-vehicle market.
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The Estimated Average Weekly Sales Rate remains somewhat stagnant, around the 66% mark.
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