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SAN FRANCISCO -- Tesla buyers who waited months for their new car have had an unusual choice for much of the past two years: keep the new electric vehicle, or sell it at a profit to someone with less patience.

But the days of the Tesla flip are numbered -- a potential threat to new car prices that are already getting cut.

Prices of used Teslas are falling faster than those of other automakers and the clean-energy status symbols are languishing in dealer lots longer, industry data provided to Reuters showed.

The average price for a used Tesla in November was $55,754, down 17 percent from a July peak of $67,297. The overall used car market posted a 4 percent drop during that period, according to Edmunds data. The used Teslas were in dealer inventory for 50 days on average in November, compared with 38 days for all used cars.

Rising gasoline prices, an effect of the Ukraine war, boosted demand for Teslas, one of few long-range electric vehicles in …

Toyota Motor Corp. said its global output hit a record for November, thanks in part to solid consumer demand, though it warned of an uncertain outlook due to a persistent shortage of semiconductors and spikes in Covid cases in China.

The world's No. 1 automaker produced 833,104 vehicles last month, a 1.5-percent increase from a year earlier. Global sales rose 2.9 percent to 796,484 units, the company said in a statement on Monday.

The vehicle output reflects solid demand in areas such as North America, and a rebound from a year earlier when Covid infections in Southeast Asia disrupted supply chains. The auto industry is still dogged by shortages of chips and other car parts, while it will also face challenges stemming from the rapid spread of Covid cases across China.

In early November, Toyota cut its global production target for the fiscal year through March while sticking with a conservative profit outlook because of chip shortages.

Toyota's dom…

CES will again serve as a global showcase for the latest innovations in transportation, from scooters to space technology.

After a topsy-turvy two years in which COVID-19 stymied efforts to hold a large, fully in-person show, event organizers expect more than 100,000 attendees when CES kicks off Thursday, Jan. 5.

In Las Vegas, those visitors will find an emphasis on electric vehicles in particular and electrification overall. BMW and Stellantis will unveil EV concepts that underpin their production plans set in the not-too-distant future.

BMW will showcase its Neue Klasse next-generation platform, which it expects to build vehicles upon starting in 2025. Stellantis will highlight its Ram EV pickup, scheduled to launch in 2024. Both BMW CEO Oliver Zipse and Stellantis CEO Carlos Tavares are set to deliver keynote remarks.

Although technology displayed at CES often can feel like it borders on science fiction, the focus …

A conversation with Automotive News reporter Carly Schaffner about the biggest news and issues in 2022 related to Hyundai, Kia, and Genesis brands.

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The Yearbook is back, packed with tons of useful data

After the positive feedback we received from Automotive News subscribers on our first two Yearbooks, we're happy to bring another one to you again on Monday.

While the COVID-19 threat diminished somewhat (except in China) and there appears to be relief from the global microchip shortage on the horizon, 2022 was no less chock-full of industry-impacting happenings than the previous couple of crisis-defined years.

At the top of our biggest stories of the year, as voted on by our editors, was Sen. Joe Manchin twisting Congress' arm on electric vehicle tax credits, leading to the passage of the Inflation Reduction Act. See the rest of our choices for the year's top 10 in Monday's special issue.

Also in this 88-page keepsake, we'll run a number of our signature features from the year. Just a small sampling:

■ Automotive News awards, including Best Dealerships To Work For, All-Stars, PACE Awa…

BMW Model Location Potential Lost Volume 2-Series Coupe San Luis Potosi, San Luis Potosi, Mexico 0 3-Series San Luis Potosi, San Luis Potosi, Mexico 0 X3 Spartanburg, S.C., U.S. 6,219 X5 Spartanburg, S.C., U.S. 1,196 X4 Spartanburg, S.C., U.S. 951 X6 Spartanburg, S.C., U.S. 0 X7 Spartanburg, S.C., U.S. 0 COMPAS Model Location Potential Lost Volume QX55 Aguascalientes, Aguascalientes, Mexico 0 GLB Aguascalientes, Aguascalientes, Mexico 0 QX50 Aguascalientes, Aguascalientes, Mexico 0 Daimler Model Location Potential Lost Volume GLE Tuscaloosa, Ala., U.S. 0 GLS Tuscaloosa, Ala., U.S. 0 GLE Coupe Tuscaloosa, Ala., U.S. 0 Sprinter North Charleston, S.C., U.S. 0 Sprinter North Charleston, S.C., U.S. 0 Ford Motor Model Location Potential Lost Volume Edge Oakville, Ontario, Canada 33,315 MKX/Nautilus Oakville, Ontario, Canada 9,319 Maverick Hermosillo, Sonora, Mexico 5,417 Bronco Sport Hermosillo, Sonora, Mexico 10,480 Mustang Mach-E Cuautitlan, Mexico, Mexico 1,152 Explorer Chicago,…

Another wave of electric vehicles is on tap for 2023 as automakers leverage new and freshened sheet metal to drive showroom traffic against a rising tide of economic and market headwinds.

Crossovers and pickup trucks dominate the list of key showroom introductions in the year ahead, though some top-selling cars also will undergo makeovers, with Honda rolling out its 11th-generation Accord. As we saw in 2022, supply bottlenecks in the wake of the pandemic upended or delayed some light-vehicle launches, and 2023 likely will see more disruptions, especially on vehicles with parts sourced in China.

Among major brands, Chevrolet — one of the big sales winners of 2022 though the third quarter — and Toyota have ambitious launch schedules planned, while Ford — another gainer this year — and Honda have at least two major launches on deck. It will be a quiet year for Nissan, Jeep, Hyundai and Kia. With solid market gains in 2022, each have another key …

In 2020, we met COVID-19.

Last year was all about the microchip shortage.

In a refreshing reminder of what the Before Times were like, 2022 didn't have one ongoing story that dominated the auto industry.

Instead, it marked a return to many of the topics that automakers, dealers and suppliers had been talking about before we all got sidetracked for a good while:

Electric vehicles — which there are a lot more of.Self-driving cars — which still aren't much of a thing.The future of franchised dealerships — which still is a thing, despite the best efforts of Tesla and Carvana.And, of course, the omnipresent Elon Musk — who still hasn't produced the Cybertruck or robotaxis he said were imminent pre-COVID.

As a result, this was the first time since those halcyon days of the last decade that we at Automotive News weren't immediately certain what to consider the year's top story. The lingering inventory and supply shortages? The t…

SHANGHAI -- Tesla suspended production at its Shanghai plant on Saturday, according to an internal notice and two people with knowledge of the matter, bringing ahead a previous plan to pause most work at the plant in the last week of December.

The U.S. automaker cancelled the morning shift and told all workers at its most productive manufacturing hub they could start their break, said the people and the notice seen by Reuters. The company did not give a reason.

Reuters reported earlier this month that the electric car giant planned to suspend Model Y production at the plant from Dec. 25 to Jan. 1.

The suspension comes among a rising wave of infections after China eased its zero-COVID policy earlier this month, an abrupt move welcomed by businesses and the public but heavily disrupting business operations in the short term.

One of the people said workers at Tesla and its suppliers have also been falling sick as part of this wave, posing challenges …

Chinese electric vehicle maker Nio Inc. unveiled two models at a glittering annual customer event on Saturday evening, expanding its lineup in a bid to grab a bigger share of the market as demand for cars in the nation slows.

At the weekend event in Hefei in central Anhui province, Shanghai-based Nio launched a revamped ES8, an iteration of the original electric sports utility vehicle it’s been selling since 2018, and a new pure electric coupe dubbed the EC7.  

With a starting price of 488,000 yuan ($69,800), the coupe targets buyers who want more space as well as sporty performance. The new ES8 will start at 528,000 yuan. Deliveries are expected to kick off in May and June, respectively.

Nio Day, first held in 2017, is a gathering for corporate partners, customers and media meant to foster brand loyalty and a sense of community around the carmaker.

Nio on Saturday also presented its latest generation of battery swapping stations, which allo…

As the 117th Congress winds down, the Senate on Thursday evening passed bipartisan legislation that would provide dealers LIFO tax relief.

"Senate passage of the bill is great progress to provide dealers on LIFO much needed relief due to the pandemic and supply chain issues," Mike Stanton, CEO of the National Automobile Dealers Association, said in a statement Friday morning.

However, the House did not vote on its version of the LIFO relief bill on Friday, instead focusing on a nearly $1.7 trillion omnibus spending package that will avert a federal government shutdown. That bill was passed by the House and sent to the White House before Congress adjourned.

A new Republican-majority Congress will convene at the beginning next year.

In April, U.S. Rep. Dan Kildee, D-Mich., introduced a bill — the Supply Chain Disruptions Relief Act — which would allow dealerships that use the "last in, first out" inventory accounting to wait until 2025 to replace …

A conversation with Automotive News Senior Editor Dan Shine about the biggest stories and issues affecting the dealership service drive, as well as the finance and insurance office in 2022.

How do I subscribe?

Can't wait to hear the next episode of "Daily Drive"? Subscribe through a podcast app to receive episodes days in advance. If you don't have a podcast app already, here are some options. 

iPhone / iPad

“Daily Drive” is available on the iTunes Store and through the ‘Podcast’ app pre-installed on all iOS devices. Click here to subscribe to "Daily Drive"

Android

“Daily Drive” is available on the Google Play store. Click here to subscribe to "Daily Drive"

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"Daily Drive" is available on Spotify. Click here to subscribe to "Daily Drive"