Inside Automotive
How far into 2023 will used car prices stay inflated? – Jonathan Banks | J.D. Power
As used car prices remain well above industry norms, more and more dealers are asking how long the trend will last. On this episode of Inside Automotive, CBT News anchor Jim Fitzpatrick is joined by Jonathan Banks, the vice president and general manager for vehicle valuations at J.D. Power, to answer this question and shed more light on the factors currently influencing the preowned market. Watch full segment here.
Top Stories
Lincoln has revealed a newly redesigned version of its best-selling Nautilus luxury SUV. The Ford subsidiary showed off the updated model on Monday, unveiling a suite of interior features called “Lincoln Rejuvenate” in the process. According to the brand’s press release, lighting, digital scenting elements, dashboard visuals and other additions provide a “Multi-sensory, in-cabin experience.” The car is slated to launch in 2024, and will be imported from China to the U.S.—a first for Lincoln. Read More
Luxury EV manufacturer Polestar is calling its newest addition, the Polestar 4, an ‘SUV coupé.’ The brand showed the car off at the Shanghai Auto Show on April 17, giving audiences their first glimpse of the vehicle’s unique shape. The model has no rear-window, and will instead use wide-angle cameras to provide visibility for the driver. Company spokespersons explained that the windowless design will give passengers more space while allowing for a longer sunroof. The Polestar 4 is the automaker’s fastest installment to date, and will launch with a dual-motor option capable of reaching 0-60 in 3.8 seconds. Read More
The Biden Administration is partnering with several major brands to install over 100,000 new electric vehicle chargers across the U.S. Participants include Walmart, Uber, PEG&E and other businesses, in addition to organizations such as the National Automobile Dealers Association and the Center for Sustainable Energy. The move would bring the nationwide total to 235,000 chargers, almost half of the president’s target of 500,000. Earlier this month, the White House also unveiled strict rules for vehicle emissions and set ambitious sales quotas for EVs. Read More
A new study by iSeeCars claims that Tesla is the most recalled car in the U.S. Using data obtained by the National Highway Traffic Safety Administration, the research firm found that the EV brand’s models took four of the top five spots for projected recalls, with the Model Y seeing a rate 15.6 times above the national average. Meanwhile, vehicles expected to see the least recalls in the coming years include the MINI Convertible, Lexus NX 300h and the Lincoln MKZ hybrid. Read More
For Dealers
5 trends that will transform the automotive industry over the next 5 years
“Transformation,” “disruption,” and “evolution” are likely words you’ve heard mentioned many times over the last few years regarding the automotive industry. From the lasting impact of the pandemic to an increase in new technologies, this industry will likely continue to see lasting changes. Here are five trends that will likely continue to shift the way automotive stakeholders function over the next five years. Read More
Outselling your competition: 4 tips for conducting a top notch competitor analysis
Running a dealership involves the usual fire drills and day-to-day requirements, but handling the “tyranny of the urgent” often comes at a price, limiting one’s time to focus on big-picture tasks. Essential tactics that get ignored include tracking your competitors. But this necessary mission doesn’t have to be all-consuming. Read on as we explore how to pursue your rivals and beat them to the customer. It’s a combination of B-school basics and creative research. Read More
