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Penske Automotive Buys Largest Ford Dealer Network By Sales

The Truth About Cars

While best known for its commercial trucking services, Penske has been ramping up dealer acquisitions, buying out trucking rivals and trying to expand its already sizable footprint in both Europe and Australia. The above global expansion has been made possible thanks largely to its share price absolutely exploding after 2020.

Dealers 104
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Stellantis US dealers reprimand CEO Tavares in letter

Teslarati

The US National Dealer Council sent a scathing letter to Stellantis CEO Carlos Tavares, emphasizing concerns about the automaker’s past decisions and future plans. In August, Stellantis received a proposal to buy back Chrysler, Dodge, and Plymouth/Mopar brands, citing similar reasons.

Dealers 85
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Car Buyers Fight Back With Dealer Markup Tracker

CleanTechnica EVs

Buying cars in 2022 can be a huge headache. Not only are some cars hard to find at all with dealers selling out of popular models, but there’s also the issue of dealer markup. This is when a dealer sells a car for more than the MSRP, or Manufacturer’s Suggested Retail Price.

Dealers 133
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GM Dealers Want Hybrids Instead of More EVs

The Truth About Cars

Cadillac and Buick dealers accepted buyouts in large numbers to avoid making investments to sell EVS, and now the automaker’s dealers are pushing it to develop more hybrids instead of releasing new electric models. The company understands its dealers’ concerns but has not detailed plans to offer such products.

Dealers 109
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Time To Buy? New Vehicle Inventories And Incentives Are Up

The Truth About Cars

After several years of swelling vehicle prices and tragically lean inventories, the market has reached a point where dealer lots are getting full and consumers are becoming disinclined to go into quite so much debt in order to purchase a new automobile. Everything is relative in the world of car buying.

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Tesla (TSLA) receives “Buy” rating and higher price target from Jefferies

Teslarati

Tesla shares ( NASDAQ:TSLA ) are gaining momentum on Monday following a “Buy” rating and an updated price target from Jefferies. The investment bank, for example, lowered its rating on German automaker Daimler to a “Hold” while cutting its price target from €95 to €82 per share.

Buy 142
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Car Dealers to President Biden: ‘enthusiasm has stalled’ for EVs

Teslarati

Over 3,000 car dealers sent a letter to President Biden expressing their concerns about his administration’s push toward electric vehicles (EVs). Car dealers have informed the President that enthusiasm for electric vehicles has stalled, hinting at concerns over the demand for EVs. But that enthusiasm has stalled.

Dealers 105