Automotive News

They hit their lowest point the next month, dropping to simply beneath 830,000, Cox mentioned. “All of the blacktop nonetheless kind of bothers me,” Steve Gates, the incoming Toyota National Dealer Advisory Council chairman, told Automotive News this month. “This is weird, however I’m extra comfortable paying lots of floorplan expense and seeing automobiles.” Gates’ company, Gates Automotive Family, operates eleven dealerships in Kentucky, Indiana and Tennessee, including three Toyota stores. New-vehicle inventories are beginning to build again — and comparatively shortly — thanks to a mixture of low incentives and higher rates of interest which have kept millions of potential patrons on the sidelines. While assembly crops nonetheless face provide chain challenges, there are signs of restoration.

Chinese billionaire Li Shufu will test whether or not there’s room for another global car brand by introducing a model new marque subsequent week, built on expertise collectively developed by his two …