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Automakers blame tightened inventories for double-digit sales declines, but warn higher interest rates, gas prices and rising inflation will push buyers out of the market.
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Ford Motor Co. saw U.S. sales rebound sharply in July for the second consecutive month while Toyota Motor Corp. and Honda Motor Co. saw sales dip for the 12th consecutive month.
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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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GM and Ford seek exemptions to deploy a limited number of self-driving vehicles without human controls like steering wheels and brake pedals.
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As automakers report second quarter results, analysts say a market rebound may be on the way.
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Italy, Portugal, Slovakia, Bulgaria and Romania want to delay a EU plan to ban the sale of new gasoline and diesel-powered vehicles in 2035 by five years.
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GM and Ford top execs say U.S. consumer demand for cars and trucks remains strong, despite soaring interest rates and gas prices.
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Automakers have urged Congress to lift a cap on the $7,500 electric vehicle tax credit.
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The seasonally adjusted, annualized rate of sales fell to 12.81 million in May, according to Motor Intelligence.
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The 2022 Working Relations Index shows Toyota in first place, with Honda rapidly closing in.
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