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11.12.24 - 01:33
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Americans Are Driving Their Older Cars Into The Ground (ZeroHedge)
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Americans Are Driving Their Older Cars Into The Ground
Americans, hit by inflation, higher interest rates, and supply-chain issues, are buying fewer new vehicles. The four-year average for annual sales is now 15.5 million, down from 17.7 million pre-pandemic, per the Bureau of Economic Analysis.
The slowdown in new car sales might seem like good news for auto repair and parts companies, as older vehicles typically need more maintenance. Cars between four and eleven years old are in the "sweet spot" for repairs, yet signs show many Americans are cutting back on maintenance spending, according to the Wall Street Journal.
In May, tire retailer Monro reported a sharp decline in same-store sales, citing low- to middle-income consumers opting for cheaper, off-brand tires due to a glut of imports. Spending on services like brakes and shocks dropped even more.
Similarly, in September, Genuine Parts, owner of Napa auto-supply stores, experienced its worst single-day stock drop in decades, as retail sal...
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10.12.24 - 17:08
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Auto File: Pain for GM in China (Reuters EN)
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Auto File: Pain for GM in China Dec 10 - By Nick Carey , European Autos Correspondent Greetings from London! After much saber rattling over the last few months, Volkswagen and its German union finally held a seven-hour session of talks described by a labor representative as a “ constructive climate ”. In the run-up to Monday's talks, the German automaker's CEO and union boss had clashed over Volkswagen's proposed cuts, which could result in German plant closures....
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10.12.24 - 14:54
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Scholz fordert europaweite Verkaufsförderung von E-Autos (Die Welt)
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Bundeskanzler Olaf Scholz ist zu Besuch beim angeschlagenen Autobauer Ford und spricht sich für eine europaweite Verkaufsförderung für E-Autos aus. Doch die Belegschaft ist frustriert und richtet sich mit deutlichen Worten gegen das Management und die Regierung....
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10.12.24 - 13:02
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Elektroauto-Förderung? Scholz verweist auf Brüssel (DPA-AFX)
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KÖLN (dpa-AFX) - Im schwächelnden Geschäft mit Elektroautos aus Deutschland setzt Bundeskanzler Olaf Scholz (SPD) auf Impulse von der EU. Man brauche eine funktionierende europaweite Verkaufsförderung, sagte Scholz bei einem Besuch des Autobauers Ford ......
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