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Automakers reporting May sales all posted gains, but tight inventories spell trouble going into the summer sales season.

Despite today’s rosy profit picture, the auto retail franchise model faces new pressures as long-term prospects are fraught with uncertainty.

Ford isn’t the only company grappling with the shortage, but its dealers, customers and bottom line have been stung particularly hard.

VW said its board approved the “essential conditions” of the settlement, which should be finalized soon.

For companies with captive finance arms, one of the biggest challenges is estimating future demand for vehicles that now represent a tiny percent of the market.