Auto industry update for May 2026
Ford & GM are still recovering from major EV related losses, but Ford is seeking to create a midsize EV pickup truck for $30k. Meanwhile, dealerships are struggling with supply shortages due to a lack of aluminum. Carmakers are really counting on tariff refunds and service revenue to carry them due to a lack of sales. Despite these issues, local mom-and-pop car dealerships continue to consolidate, grow, and thrive. Used car values are seeing their highest point since the summer of 2023 with used EV sales really surging. 1 in 3 car buyers are now underwater on trade-ins, with the average…
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