Ford CEO Jim Farley said on Wednesday that price cuts in the electric vehicle market were "a worrying trend" after the U.S. automaker dropped prices for its Mustang Mach-E in response to a series of reductions by rival Tesla.

Volkswagen sees higher competition later this year as supply chain bottlenecks ease and China's electric car market heats up, the carmaker said on Thursday, adding that it put margins over volume even as it fights to maintain market share.

Increased vehicle availability, which alleviated some consumer and fleet pent-up demand, helped fuel the sales rise. According to Wards Intelligence, fleet sales are forecast to account for 16% of April 2023 sales.

Ford Motor Co expects to take up restructuring charges between $1.5 billion and $2 billion in 2023, it said in a regulatory filing on Wednesday, as part of the U.S. automaker's move to exit unprofitable locations and cut headcount.

Sweden-based Volvo Cars said on Wednesday that  sales increased by 10% year-on-year in April to 51,976 cars, boosted by strong gains in China.

Stellantis said on Wednesday improvements in chip supply and price rises boosted its revenues in the first quarter, but was cautious on the outlook for the rest of the year as its vehicle inventories were growing.

Carmakers from Stellantis NV to Ford Motor Co. posted gains in the first quarter, but investors are signaling that the industry is headed for difficult times.

Porsche AG’s first-quarter earnings jumped as luxury carmakers continued to show gains despite a slowing global economy.  

Dealers and consumers alike know that the steady growth of electric vehicles (EVs) will require some lifestyle changes for vehicle owners, especially in developing a charging routine.

Local dealerships are dedicated to keeping the auto retail industry staffed with passionate individuals from diverse backgrounds.