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Edmunds on affordability, new Ram pickup, Ford tax credits

Inside Automotive

Gardner negotiations2 full-proof ways to successfully negotiate price — Sean Gardner | Joe Verde Group
As customers adjust to a different automotive retailing landscape, it’s more important than ever for sales professionals and managers to continue honing and developing their skills. Today on Inside Automotive, anchor Jim Fitzpatrick catches up with Sean Gardner, instructor and sales trainer for the Joe Verde Group. Watch full segment here.

Top Stories

Edmunds affordabilityNew data from Edmunds reveals a growing affordability crisis in the auto industry. Since 2018, the average transaction price for vehicles has increased from $35,794 to $47,713, while the number of new cars sold for $20,000 decreased from 8% to 0.3%. Most of the price hikes come from SUVs and trucks. In response, Edmunds expects consumers will return to the used vehicle market, as “new vehicles have simply grown out of reach for many Americans.” Read More

Ford 2023 Mustang Mach-E

Shortly after the Treasury Department revealed long-awaited updates to the Inflation Reduction Act’s EV tax credit rules, Ford announced that a majority of its products will no longer qualify for the full amount. The changes tighten restrictions on which electrified vehicles can earn the $7,500 incentive based on where their batteries were sourced. Out of the automaker’s six electric and hybrid models, only two, the F-150 Lightning and the Lincoln Aviator Grand Touring, will qualify for the full amount. Read More

2025 Ram 1500 REV

On Wednesday, Ram unveiled its first electric pickup, the 1500 Rev, at the New York Auto Show. According to the presentation, the long-range version of the truck will have a driving range of 500 miles and be capable of towing up to 14,000 pounds. When connected to a 350 kW DC fast charger for 10 minutes, the vehicle can receive enough power for 110 miles. Ram is the last of the big three Detroit automakers to release an electric truck. Read More

General Motors says that 5,000 of its employees have opted to take a buyout, offered as part of the automaker’s goal to save $2 billion by 2024. Company CFO Paul Jacobsen expects to spend up to $1 billion on the payouts. Earlier in the year, GM said it would be looking to reduce its labor costs without resorting to layoffs. Most of the staff members taking the buyout will have ended their employment by June. Read More

For Dealers

Concept future car. Generative AIThe art of the automobile: How AI-generated art is shaping the future of car design
In a world where innovation takes center stage, attention is turning to the intersection of artificial intelligence (AI) and the automotive industry. To many in the auto industry, the fusion of AI-generated art and car design is undeniably the industry’s future. As a result, automakers are harnessing the power of cutting-edge technology to create vehicles that push the boundaries of creativity and functionality. Read More

young affable consultant talking about features of new car to customer. business man listen to him, choosing new auto in dealershipWhy your ego is sabotaging your sales and how to stop it
As a sales professional, your ego can be your greatest asset or your worst enemy. On one hand, it can give you the confidence you need to make a sale, but on the other, it can sabotage your efforts and leave you empty-handed. In this article, we will explore the ways in which your ego can hinder your sales and how to manage it to achieve better results. Read More

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CBT News
CBT News
For over 11 years, CBT News has been informing and helping automotive retail professionals grow their businesses and thrive in their careers through an awarding-winning, on-demand streaming platform. With exclusive interviews featuring the biggest names in the industry, daily newscasts, up-to-date market data, and exclusive articles covering the latest trends, CBT News is your #1 source for auto industry news and content.

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