It’s the American way to buy vehicles. Unlike their European counterparts who go to inventory-thin dealerships to order vehicles and then wait for automakers to build them, U.S. consumers tend to shop for what’s available, whether online or in person.
As U.S. CPO Sales Fall to 8-Year Low, Some Brands Make Older Cars Eligible
The young Genesis luxury brand continues to hit growth milestones in the U.S., even though its dealer network has been slow to step up and construct standalone stores. The automaker just had two more dedicated retail locations open this month. But out of 270 dealers for the brand, which launched in 2016, only four so far have opened standalone stores.
Audi is set to launch 20 new models, including more than 10 battery-electric vehicles, by 2025 in what CEO Markus Duesmann calls “the biggest product initiative” in the German automaker’s history. “We’ve set the course to go 100 percent electric. By 2025, we will have launched around 20 new models, more than 10 of which will be electric,” he says, adding, “By 2027, we will seek to offer an electric vehicle in each core segment.”
Following the meeting between President Joe Biden and European Commission President Ursula von der Leyen last Friday, the U.S. and E.U. announced that they will launch talks on a mineral pact that would allow E.U. manufacturers to qualify for at least part of the Clean Vehicle Tax Credit (CVTC) created by the Inflation Reduction Act.
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