Weekly Roundup: Automotive Industry News
This week, Toyota announced the spin-off of its Century model into a standalone ultra-luxury brand above Lexus, set to debut in October.
- Dream Motor Group acquired Toyota-Lexus of Montgomery, its first Toyota and Lexus stores.
- Subprime auto loan delinquencies reached a record high.
- Tesla's Q3 revenue was $28.1B, but profit missed estimates.
- Canada reduced Stellantis' tariff-free imports by half and GM's by nearly a quarter.
Toyota redefines luxury with standalone Century brand debuting this October
Author's summary: Toyota spins off Century into ultra-luxury brand.
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