Weekly Roundup: Automotive Industry News
This week's top stories include Toyota spinning off Century into a standalone ultra-luxury brand, Dream Motor Group's acquisition of Toyota-Lexus of Montgomery, and record-high subprime auto loan delinquencies.
- Toyota is transforming its flagship Century model into a standalone ultra-luxury brand above Lexus, debuting this October.
- Dream Motor Group buys Toyota-Lexus of Montgomery, its first Toyota and Lexus stores.
- Subprime auto loan delinquencies have hit a record high.
- Tesla's Q3 revenue reached $28.1B, but profit missed estimates.
- Canada has cut 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 a luxury brand.
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