Inside Automotive
Why Pennsylvania dealers are keeping an eye on OEMs and lawmakers – John Delvin | PAA
On this episode of Inside Automotive, host Jim Fitzpatrick is joined by John Devlin, President of the Pennsylvania Automotive Association (PAA) to discuss the state of his local car market and how dealers are handling OEM and legal challenges. Watch the complete segment here.
Top Stories
Only 3,000 Tesla Solar Roof systems have been purchased in the U.S., despite the company’s target of 1,000 sales per week. The Solar Roofs are designed to look like shingles rather than traditional panels, which the EV brand also sells. According to a study published by energy research and consultancy firm Wood Mackenzie, Tesla installed an average of 21 units last year, although sales are increasing. Read More
Senator Joe Manchin has threatened legal action over upcoming rule changes to electric vehicle tax credits. In the coming weeks, the U.S. Treasury will announce guidance updates for EV battery and mineral sourcing requirements in the Inflation Reduction Act. The new rules will require 50% of the battery to be assembled in the U.S. and 40% of the materials to be procured domestically or in countries with whom the U.S. has a free trade agreement. Read More
EV charging network operator, EVgo, revealed its Q4 earnings for 2022. The company reports a narrower loss than expected as demand for chargers from customers boomed. Despite the revenue guidance for 2023 falling short slightly of Wall Street’s predictions, shares increased over 8% in pre-market trading on Thursday, March 30. Read More
Dearborn, Mich., Mar. 30, 2023 – Ford Motor Company Fund, the company’s philanthropic arm, is joining Ford dealers across four U.S. regions – Atlanta, Chicago, Dallas, and Phoenix – to provide a million dollars in scholarship funding to help students pursue careers as automotive technicians. Read More
For Dealers
Weekly Roundup: Rivian fumbles, Manchin makes a stand, used car market updates
Earlier this week: Rivian’s stock dropped to its lowest, falling roughly 92% from the initial trading of $130 in 2021, used car prices declined 8.7% from February of 2022, while EVs have dropped 13.9%, EV startup Lucid plans to lay off roughly 1,300 employees, or 18% of its workforce, and more headlines to stay on top of this week in automotive industry news. Read More
5 consumer behavior models that can influence the car buying process
Think about the last time you purchased something. It could be food from the grocery store or a new phone, but your motives and needs are likely driving your decision. The same applies to customers who browse your inventory page or enter your showroom. Each has different reasons that motivate them to buy a car from you. Read More
