Sluggish car sales are expected to pick up later this year once the U.S. presidential election is over and the Fed’s recent reversal on interest rates starts to ease financing costs.

AutoNation warned the cyberattack that crippled retailers across the country until early this month cost the company a significant chunk of second-quarter earnings.

U.S. new-vehicle sales rose only slightly in the second quarter despite larger discounts and slightly lower prices.

A hacking group called BlackSuit is behind the cyberattack on CDK Global that has paralyzed car sales across the U.S., according to Allan Liska, a threat analyst at the security firm Recorded Future Inc.

DETROIT — Cars, trucks and SUVs in the U.S. keep getting older, hitting a record average age of 12.6 years in 2024 as people hang on to their vehicles largely because new ones cost so much.

DETROIT — New vehicle sales in the U.S. rose 5.1% from January through March, as buyers stayed in the market despite high interest rates. But electric vehicle sales growth slowed.

Toyota Motor Corp. and Honda Motor Co. notched big U.S. sales gains and General Motors Co. grew retail deliveries to start the year as demand for lower-priced models help automakers defy expectations for a broad slowdown.

Stellantis NV reported a 1% U.S. sales decline in 2023, the company said Jan. 3. The automaker sold 1.527 million new vehicles last year, down from about 1.547 million sold in 2023.

U.S. auto sales softened at the end of last year as higher financing costs and near-record prices took their toll on would-be buyers.

Amazon.com Inc. customers will be able to buy Hyundai Motor Co. vehicles on the e-commerce giant’s website starting next year.