businessinsider.com
If you were planning on flipping your Cybertruck, it appears you won’t face legal ramifications anymore.An unusual resale clause appears to have been removed from Tesla’s terms and conditions for the forthcoming vehicle.Previously, in a section titled “For Cybertruck Only,” Tesla’s Motor Vehicle Order Agreement said the company could sue for $50,000 if you sold your Cybertruck within the first year of ownership. The clause also said Tesla could refuse the sale of future vehicles to those who vio…
2 months ago
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It’s been a tough year for Ford dealers, and it’s becoming clear some are losing patience.Ford came in dead last in a recent survey on dealers’ level of trust in their franchises, with 46% of Ford dealers surveyed by Kerrigan Advisors saying they had “no trust” in their franchise. That lack of trust aligns with the expectation of a decline in future profitability at Ford stores reflected in another portion of the 2023 Kerrigan Dealer Survey.This breakdown in trust and pessimism about the future…
3 months ago
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The United Auto Workers union is heading out of a historic strike at all three Detroit car companies with a bit more swagger, and with big aspirations for unionizing other corners of the automotive industry.When presenting the first tentative agreement to Ford members over the weekend, UAW President Shawn Fain said the wins the union made during their “Stand Up” strike can reverberate across the industry.“When we return to the bargaining table in 2028, it won’t just be with the Big Three,” Fain…
3 months ago
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While car companies try desperately to gin up demand for their latest electric models, consumers are begging for a compromise: hybrids.It’s clear that US consumers will pay extra for convenience. That’s been clear in the success of apps like Uber, DoorDash, InstaCart, and more. In the auto industry, the same logic applies to hybrids, which can provide a more convenient bridge to full EV adoption.The days of selling to wealthy early adopters – who were willing to pay beaucoup bucks for cars that…
3 months ago
businessinsider.com
Car dealers have a warning for their manufacturers: the days of early-adopter electric vehicle sales are all but over.For years, early EV adopters were generally an easy sale, three car dealers told Insider. These buyers arrived on car lots determined to drive off in a specific plug-in make and model.Now, electric car shoppers are more fickle. More and more often, they are comparison shopping EVs against hybrid and gas-powered vehicles, dealers said.That’s leading dealers to use more aggressive…
3 months ago
businessinsider.com
Car companies talk a big game about the transition to electric cars. But behind the scenes, many of these automakers are scrambling to react to a change in demand for expensive battery-powered vehicles.Take the last few weeks for example: Ford temporarily dropped an F-150 Lightning production shift (despite upping capacity for the electric pickup just months earlier), and said it would renew its focus on hybrids. General Motors said it would postpone some of its electric truck production by a ye…
3 months ago
businessinsider.com
It’s difficult to find an issue with bipartisan agreement in today’s economy. But an unlikely contender has entered the ring.In a Reuters-Ipsos poll of Americans, some 58% of respondents said they supported the United Auto Workers union’s strike at the Big Three Detroit car manufacturers. The study surveyed 1,005 people and was conducted between September 19 and 20.That support was surprisingly bipartisan. While 72% of self-identified Democrats said they supported the strike at specific Ford, Ge…
4 months ago
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Targeted strikes by the United Auto Workers union are likely to impact car shopping, and some customers might be hit harder than others.Anyone shopping for a domestic brand is likely to see discounts and deals dry up almost immediately, and inventory issues not unlike what they saw during the pandemic. It’s a tough pill to swallow for Ford, GM, or Stellantis shoppers who just started to see deals and availability come back over the summer. But auto industry experts have told Insider any UAW stri…
4 months ago
businessinsider.com
“Generational layoffs” are hitting the auto industry as tech companies take a downsizing page from Detroit’s playbook.
10 months ago
businessinsider.com
Tesla is making the right moves to get a more affordable car on the road, expert Sandy Munro said, especially with a “genius move” to build in Mexico.
10 months ago
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GM hopes to cut to a swath of well-tenured jobs as part of a $2 billion savings effort. Employees have until March 24 to accept buyout offers.
11 months ago
