Second-quarter net income at the major supplier dropped by nearly 85 percent in the second quarter, reflecting lower operating earnings caused by the unfavorable impact of foreign currency values, a spike in costs and supply chain challenges.
Cooper-Standard, an automotive sealing and fluid delivery parts supplier, said the rise in sales reflected favorable volumes and recoveries in material cost inflation.
Wholesale used-vehicle prices showed just a a tiny decline in July amid a stagnating summer sales season.
Wholesale used-vehicle prices showed just a a tiny decline in July amid a stagnating summer sales season.
What appeared to be a path forward on EV tax credits at first glance evolved into a last-minute scramble, as automakers and some Senate Democrats seek changes to the provision’s strict battery content and assembly rules, which they said could delay vehicle eligibility.