Weekly Roundup: Automotive Industry News
This week, several significant events occurred in the automotive industry. Toyota announced the spin-off of its Century model into a standalone ultra-luxury brand, positioned above Lexus.
- Dream Motor Group acquired Toyota-Lexus of Montgomery, marking its first Toyota and Lexus stores.
- Subprime auto loan delinquencies reached a record high.
- Tesla reported Q3 revenue of $28.1B, although its profit missed estimates.
- Canada reduced Stellantis' tariff-free imports by half and GM's by nearly a quarter.
Toyota redefines luxury with standalone Century brand debuting this October
The new Century brand is set to debut at the 2025 Japan Mobility Show, previewing Toyota's move into the ultra-luxury market.
Author's summary: Toyota spins off Century into a standalone ultra-luxury brand.
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