Automakers pull back on DEI amid social shifts

The Auto Finance Roadmap

Several companies in the automotive and powersports industries made changes to their diversity, equity and inclusion initiatives following social pressure to scale back targeted DEI strategies.

Ford Motor Co. joined Harley-Davidson, Tractor Supply, John Deere and Polaris in publicly announcing changes to their DEI programs, including in how the companies define and measure DEI at the organizations. Still, several auto lenders are maintaining their inclusion-based DEI initiatives.

Meanwhile, market share data last week shows that incentives are driving up captive market share, especially on the new-vehicle side.

August sales also reflect improved hybrid vehicle sales, which contributed to a 12% month-over-month uptick and an increase of 8% year over year in total sales.

In powersports, Canadian powersports manufacturer Bombardier Recreational Products’ North American retail sales declined 18% YoY in the company’s second fiscal quarter driven by softer demand and increased competition with incentives.

In this episode of the “Weekly Wrap,” Auto Finance News Editor Amanda Harris and Associate Editors Ashley Savage and James Van Bramer discuss the latest feature and an update on vehicle sales for the week ending Sept. 6.