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A few automakers such as Ford have reacted to Tesla’s price cuts of up to 20 percent. But most are holding prices firm and introducing more inexpensive models later.

While there’s a mix of predictions on how many dealerships will trade hands in 2023, some professionals arranging transactions and dealers looking to acquire indicate the buy-sell market will be just as busy as the past few years.

While GM posted record earnings in 2022, Ford CEO Jim Farley cited poor execution and ‘dysfunctionality’ within the company for reducing profits.

Another 11,500 scheduled vehicles will be eliminated due to the microchip shortage, according to the latest estimate by AutoForecast Solutions.

Tesla raised prices in the United States of its best-selling vehicle, the Model Y, by $1,000 after the government raised the ceiling on the price of crossover electric vehicles eligible for tax credits.