New-car market expands in October, trade group says

New-car market expands in October, trade group says https://ift.tt/3jMu1Xz

Retail sales of new light vehicles continue to pick up in China, advancing ten percent year on year in October after gaining 5 percent the previous month, according to a preliminary tally by the China Automobile Dealers Association.

Tekion trims staff a 2nd time in 2 months

Tekion trims staff a 2nd time in 2 months https://ift.tt/tAdlTeQ

A spokesperson said the new job cuts amounted to ‘less than 2 percent' of its work force.

BYD gains on Tesla for EV sales crown with another record month

BYD gains on Tesla for EV sales crown with another record month https://ift.tt/0vUT1bR

After delivering 165,505 EVs during October, BYD needs an average of 158,642 sales for three consecutive months to put it in contention to match or exceed the amount Tesla needs to sell during the quarter to reach its 1.8 million annual sales goal.

Sell the vehicle service contract length the customer needs

Sell the vehicle service contract length the customer needs https://ift.tt/4yZGXqc

Auto dealership finance managers should give the customer the length of vehicle service contract actually needed and 'never oversell' the car protection product, says finance and insurance trainer Ritch Wheeler.

Toyota downgrades EV forecast in quest of record profits; quarterly net income nearly triples

Toyota downgrades EV forecast in quest of record profits; quarterly net income nearly triples https://ift.tt/GbomUIp

Riding an upswing in all-time-high quarterly earnings, Toyota downgraded its outlook for EV sales but lifted its forecast for record earnings in the full fiscal year, expanding on an earlier outlook that already called for record-level profits.

Toyota quarterly profit surges on strong sales, weak yen

Toyota quarterly profit surges on strong sales, weak yen https://ift.tt/2kUhX8w

Toyota now expects full-year operating profit to balloon 65 percent to 4.5 trillion yen ($30.15 billion).