Auto

The Manheim Used Car Index dropped for the second straight month in July signaling a coming reduction in retail prices from record highs.

France's Renault SA is looking to revive business in China by forming a hybrid vehicle joint venture with Geely Holding Group, sources said, a year after it ended its previous operation in the world's largest car market.

Higher costs for products, shipping containers and labor are driving car part prices higher.

U.S. highway safety regulators are investigating whether Ford acted quickly enough when it recalled more than 620,000 vehicles last year to fix faulty rear-view cameras.

The Union Pacific Railroad has deployed its fire car fleet in the multi-state effort to protect the West's critical infrastructure and communities from deadly wildfires.

Jeep's new plug-in hybrid Wrangler 4xe is so popular that it's increasing prices just months after it launched this spring. President Biden drove one of the vehicles at the White House after signing an executive order that aims to have 50% of new car sales in the U.S. electrified by 2030.

Allstate reported this week that its property-liability combined ratio increased to 95.7 in the second quarter, nearly six points higher than during the same quarter last year. This ratio rises as underwriting losses and expenses become a greater percentage of premiums collected—not what investors want to see. The uptick was aided by increasing auto-accident frequency relative to very depressed levels during the pandemic.

Ford Motor Co. is offering early buyouts to some U.S. workers ias it works to transform its automotive operations.

White House Press Secretary Jen Psaki suggested Thursday that Tesla’s lack of close ties with the United Auto Workers union was a factor in the company’s omission from an electric vehicle summit.

Ford, GM and Stellantis have pledged for 40% to 50% of their U.S. sales to be electric by 2030, with all-electric, fuel cell electric and plug-in hybrids included.

The New York show is one of the most highly attended and generates an estimated $300 million for the local economy.

While the pandemic has dented sales and demand in some global businesses, Toyota appears to be roaring back. Uncertainties remain such as the global shortage of semiconductors that’s slammed the auto industry, as well as effects of COVID-19.