Welcome to the Daily 5 report for Friday, Aug. 8.
Ford Motor Co.'s electric-vehicle ambitions take a big step next week with a major introduction in Kentucky.
With EV demand slowing and facing affordability headwinds such as the broader market, Ford is pivoting to a new generation of less expensive EV models to counter an emerging threat from Chinese automakers.
Reporter Michael Martinez has a preview of Ford's super affordable EVs for urban duty and commercial users, starting with a pickup, a strength of the automaker for decades.
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The U.S. luxury light-vehicle market also continues to evolve as consumer preferences shift to crossovers and SUVs, leaving less and less appetite for the traditional coupe and sedan.
Carly Schaffner reports the Genesis G70, one of the newest sport sedans from one of the newest luxury brands, is on track to disappear from U.S. new-car showrooms in a couple years.
While the G70 is Genesis' No. 3 seller in the U.S., volume is so low it makes little economic sense to keep enhancing the car to stay competitive with the likes of the venerable BMW 3 Series, one analyst says.
In other news, CarGurus is winding down operations at wholesale digital marketplace platform CarOffer less than two years after it acquired the company, JLR is the latest global automaker to take a major financial hit from new U.S. tariffs on light-vehicle imports, and our dealership buy-sell database has been updated with key divestments at Asbury Automotive, Group 1 and AutoNation.
That's it for today.
Have a great weekend.
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— David Phillips, news editor
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