The fallout from Volkswagen's diesel emissions scandal has left the automaker in an awkward spot: It must now fund an ad campaign pushing electric vehicle awareness that highlights competitors' products.
Paced by declines at Ford, the Japan 3, General Motors and Hyundai-Kia, light-vehicle sales fell in July as the auto industry lost speed going into the second half of a year projected to be weaker than the robust first six months. The SAAR fell to 16.73 million, in line with projections. Light-truck demand rose while car deliveries skidded 18 percent.
Following a profit warning by Sonic Automotive Inc., fellow public retailers Penske and Group 1 said this week that they also felt a profit pinch in the second quarter because of incentive changes at BMW and Honda.