Earlier this week: Ford offered dealers up to $22,500 to move F-150 Lightning inventory in the new pilot program. White House urges Stellantis to honor commitments to UAW after plant closures. New vehicle affordability stalls in September despite lower loan rates. GM Partners with Lithium Americas for $625 million joint venture. Ford mobilizes disaster relief efforts in response to hurricanes Helene and Milton. Auto credit availability improves in September, reversing a five-month decline. Big tech tightens grip on automakers with AI-enabled voice assistants.
Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.
1. Ford offers dealers up to $22,500 to move F-150 Lightning inventory in new pilot program
Ford is incentivizing dealers to move its F-150 Lightning electric trucks. Through a new pilot program, dealers can earn up to $22,500 to replenish their F-150 Lightning stock from Ford’s Retail Replenishment Centers (RRCs), which aim to expedite vehicle delivery. Read More
2. White House urges Stellantis to honor commitments to UAW after plant closures
Stellantis is under pressure from both the White House and the United Auto Workers (UAW) union to follow through on its 2023 promise to reinvest in communities impacted by U.S. plant closures. Read More
3. New vehicle affordability stalls in September despite lower loan rates
According to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index, new vehicle affordability in September showed no significant improvement, as rising vehicle prices and minimal declines in loan rates offset any potential relief for consumers. Read More
4. GM Partners with Lithium Americas for $625 million joint venture
General Motors (GM) has entered into a $625 million joint venture with Lithium Americas Corp. to develop and operate a lithium carbonate mining project at Thacker Pass in Humboldt County, Nevada. Lithium, a crucial component for electric vehicle (EV) batteries, is essential to GM’s efforts to grow its all-electric vehicle business and meet federal requirements for sourcing materials domestically.
5. Ford mobilizes disaster relief efforts in response to hurricanes Helene and Milton
Ford and its philanthropic arm, Ford Philanthropy, are intensifying their disaster relief efforts in the Southeast following the devastation caused by Hurricanes Helene and Milton. For 75 years, Ford has prioritized supporting communities in need, and with the rise in weather-related disasters, its contributions are more critical than ever. Read More
6. Auto credit availability improves in September, reversing a five-month decline
Auto credit access increased in September, marking the end of a five-month decline, according to the Dealertrack Credit Availability Index. The All-Loans Index rose to 92.8, a 0.4% increase from August, but remained 2.1% lower year-over-year. Read More
7. Big tech tightens grip on automakers with AI-enabled voice assistants
Automakers face an uphill battle to regain control over their in-car infotainment systems as tech giants Apple and Google expand their dominance with AI-enabled voice assistants. These assistants, powered by the vast amounts of personal data these companies already collect, are poised to become even more essential for drivers, leaving automakers at a disadvantage in competing for consumer attention. Read More
8. CDK Global CEO Brian MacDonald discusses resilient response to cyberattacks and future innovations
In this edition of Inside Automotive, we sit down with Brian MacDonald, CEO of CDK Global, to discuss the company’s response to a significant cyber incident that shook the automotive industry this past summer. MacDonald shares insights on how CDK bounced back, ensuring the safety of its dealer and OEM partners, while also shedding light on the company’s innovation roadmap as they move forward with cutting-edge technologies like artificial intelligence. Watch the full segment here.
9. Essential strategies to help dealerships prepare for inclement weather
As extreme weather events become more frequent and unpredictable, the automotive industry needs to adapt to protect its assets and people. On this episode of CBT Now, Tayisha Beard, Senior Director of Sales for Ally Dealership Insurance, shares her expertise on how dealerships can prepare for and respond to inclement weather. Watch the full segment here.
10. Adam Marburger discusses why consumers ‘want’ to buy F&I products in today’s market
Welcome to Training Camp with F&I expert Adam Marburger, exclusively on CBT News! In this episode, Marburger explains why F&I products are more crucial than ever in today’s automotive market. With customers facing economic uncertainty and longer vehicle ownership, Adam describes how offering the right F&I solutions—without high-pressure tactics—can enhance the customer experience and boost dealership success. Watch the full segment here.
