NADA End-of-Day Automotive News Recap: Unsold Inventory Piling Up On Dealer's Lots; EU Trade Deals; American's Net Worth Drops; Battista "hypercar"
NADA End-of-Day Automotive News Recap
New vehicles are piling up on U.S. car dealer lots, creating concern just as sales are expected to sputter. The inventory of unsold new cars on dealer lots rose 2.1 percent last month, setting an all-time February high, a top industry analyst said in a research note this week. That total of 4 million new vehicles in U.S. stock is a 21-month high ...Source: Detroit Free Press
The European Union will not support a comprehensive trade deal with the United States that includes agriculture, the EU’s top trade negotiator said on Thursday, so she is working toward a narrower deal focused on industrial goods and automobiles.Source: Reuters
Americans' net worth fell at the highest level since the financial crisis in the fourth quarter of 2018 as sliding stock market prices ate into the household balance sheet. Net worth dropped to $104.3 trillion as the year came to an end, a decrease of $3.73 trillion, according to figures released Thursday by the Federal Reserve. The fall amounted to a drop of 3.4 percent.Source: CNBC
An Itialian specialist carmaker unveiled an all-electric car that it claims can reach 180 miles per hour in less time than an F-16 jet. Automobili Pninfarina debuted its Battista "hypercar" at the Geneva International Motor Show.Source: CNBC