Even as EVs gain ground, ICE component businesses have plenty of value to create.

New-vehicle leasing has dropped by more than 36 percent during the pandemic, for a variety of reasons. But it's in the vested interests of the whole industry to restore leasing to its previous levels when production and inventory stabilize.

Very high-mileage used cars -- vehicles with 150,000 miles and more -- have become a growth market for franchised dealers.

Volkswagen's plan to revive the Scout name after a decades-long hiatus means it is committing to producing a different type of vehicle than anything else in its current portfolio.