Weekly Roundup: Automotive Industry News
This week, Toyota announced the spin-off of its Century model into a standalone ultra-luxury brand, positioned above Lexus. Additionally, Dream Motor Group acquired Toyota-Lexus of Montgomery, and subprime auto loan delinquencies reached a record high.
- Toyota spins off Century into a standalone ultra-luxury brand
- Dream Motor Group buys Toyota-Lexus of Montgomery
- Subprime auto loan delinquencies hit a record high
Tesla's Q3 revenue was $28.1B, although profit missed estimates. Furthermore, 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
The official debut of the standalone Century brand is set to take place at the 2025 Japan Mobility Show.
Author's summary: Toyota spins off Century into ultra-luxury brand.
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