Stellantis Forms Joint Venture to Manufacture Semiconductors

Stellantis and Hon Hai Technology Group, also known as Foxconn, have partnered to create SiliconAuto, a 50/50 joint venture dedicated to designing and selling a family of state-of-the-art semiconductors to supply the automotive industry, including Stellantis, starting in 2026, the companies announced. SiliconAuto will provide customers an auto industry-centric source of semiconductors for the growing… Continue reading Stellantis Forms Joint Venture to Manufacture Semiconductors

SEMA Releases 2023 Market Report

The specialty-equipment market reached $51.8 billion in sales with an overall market growth of 2%, according the new 2023 SEMA Market Report. This continues a decade of growth for the industry, even among recent economic turmoil created by the pandemic. While the growth percentage was slightly down from the industry’s typical annual rate of 4% to 5%, the slowing… Continue reading SEMA Releases 2023 Market Report

Key Performance Indicators Report — June 2023

Sponsored by Holley – A comprehensive source for industry insights, exclusive interviews, new and used vehicle data, economic analysis, consumer reporting, relevant global affairs and more…

KPI — June 2023: The Brief

Although not as severe as last year, supply chain disruptions and labor shortages will continue to limit the ability of many small firms to meet demand…

KPI — June 2023: State of Business

Despite the challenges posed by elevated interest rates and pricing, sales volume and transaction prices have held strong…

KPI — June 2023: Recent Vehicle Recalls

A roundup of recent manufacturer safety recalls…

KPI — June 2023: State of the Economy

The latest jobs report and broader economic data rebukes recessionary discussion and suggests healthy growth, according to experts…

KPI — June 2023: Consumer Trends

Consumer confidence dipped across all age and income categories, but expectations for jobs and incomes over the next six months held relatively steady…

West Coast Ports, Union Reach Tentative Deal

West Coast port management and the International Longshore & Warehouse Union (ILWU), the labor union representing port workers, reached a tentative deal after the intervention of Labor Secretary Julie Su, but it could be months before the full union votes to approve the deal, according to a report from CNBC. The next step for the… Continue reading West Coast Ports, Union Reach Tentative Deal

What You Need to Know About Port Labor Negotiations

Right now, 29 West Coast ports and the International Longshore and Warehouse Union (ILWU), who represent approximately 15,500 dockworkers, are in the final stages of negotiating a new labor contract that covers everything from pay to operational work rules, according to the U.S. Chamber of Commerce. Recent and ongoing work stoppages at ports along the… Continue reading What You Need to Know About Port Labor Negotiations

Vessel Buildup Grows at West Coast Ports

The number of vessels due to dock at the Port of Los Angeles and Long Beach is increasing as labor slowdowns at West Coast port terminals have impacted supply chain operations, from trucks to rails and ocean carriers, according to a report from CNBC. Earlier this week, six vessels were delayed at the Port of… Continue reading Vessel Buildup Grows at West Coast Ports

SEMA to Present New Market Report During Webinar

The annual study provides an overview of the state of the automotive aftermarket…

NFIB: Small Businesses Reporting Record Level of Job Openings

According to NFIB’s monthly jobs report, 44% of all owners reported job openings they could not fill in the current period, the organization announced. The percentage is down one point from April but still 20 points higher than the 49-year average reading, the organization said. The percent of owners reporting labor quality as their top… Continue reading NFIB: Small Businesses Reporting Record Level of Job Openings