The banks can offer competitive loans to auto customers who might be facing sticker shock, now that the average price of a car is around $50,000.
The company unveils a more upscale model of its Cadillac Lyriq, an EV with a starting price of $80,000.
The vehicle industry is surprisingly resilient this year. Many people have been waiting for lower costs but can’t hold out any longer.
GM will discontinue the once-popular mid-price family sedan in late 2024, to make way for more EV production at its plant in Kansas City.
A recent Toyota recall affects more than 280,000 vehicles. But not all recalls are created equal in terms of how they color a company’s brand and long-term customer loyalty.
After a traffic block and accident in San Francisco, California suspended operations of Cruise robotaxis. Now, parent company GM is scaling back.
So far, the UAW is holding a limited strike at three plants across three states.
EVs account for about 5% of car purchases, according to automotive website Edmunds. Rivals to Tesla are making inroads.
Analysts say rightsizing is part of a bigger shift playing out in the auto industry.
Mass market models have suffered most.
