Tesla’s Cybertruck launch, new EV tax credit rules, Hyundai’s Nov. sales

Inside Automotive 

Matt Easton, founder of the Easton University, joins Jim Fitzpatrick on Inside Automotive to share a few of his “power questions."How to ask well-crafted questions that positively influence buying decisions — Matt Easton
In business and in life, oftentimes what we ASK someone is far more powerful than what we TELL them. Matt Easton, founder of the Easton University sales coaching system, joins Jim Fitzpatrick on Inside Automotive to share a few of his “power questions” to help you have better conversations, get what you want, and succeed in business and life. Watch the full segment here.

Top stories

At last, the Tesla Cybertruck is here. During an event, Musk bragged, "It will be the biggest product launch of anything on Earth this year."
Image Source: The Street | Ian Krietzberg

At last, the Tesla Cybertruck is here. The production-spec electric pickup was unveiled at a live-streamed event at Tesla’s Gigafactory in Austin, Texas. During the event, Musk bragged that “It will be the biggest product launch of anything by far on Earth this year.” During the event, Musk declared that the Cybertruck, which experts previously claimed couldn’t be produced, is now their best product. He stated that the Cybertruck embodies the future of vehicles, with the characteristics of a sports car and a truck, while being even stronger than both Read More

Biden released EV tax credit regulations restricting Chinese imports that could halt the U.S. from shifting away from fossil fuelThe Biden administration released electric vehicle tax credit regulations restricting Chinese imports. However, by reducing the number of vehicles that meet the $7,500 federal tax credit requirements, the regulations may impede the United States’ shift away from fossil fuels. The much-awaited guidelines regarding tax credit eligibility symbolize the complex path the Biden administration has taken to further its aggressive climate agenda and challenge Chinese hegemony over batteries and vital minerals required to accelerate the shift to EVs. However, the proposal is set to become final in January 2024, following a 30-day public feedback period. Read More

On the retail side of things, Hyundai sold 58,027 units in Nov., marking a 3% year-over-year increase from November 2022.
The 2023 Hyundai IONIQ 5

Hyundai Motor America has reported its highest-ever November sales, totaling 70,079 units, marking an impressive 11% increase compared to November 2022. This achievement extends Hyundai’s consecutive monthly sales growth streak to 16 months. The Hyundai IONIQ 5 stands out with a 99% increase in sales, and the Santa Fe saw a 6% growth in sales. However, sales of Santa Fe HEV increased by 236%, while Tucson and Tucson PHEV sales grew 36% and 532%, respectively. The Palisade also performed exceptionally well, with a notable 59% increase in sales. Read More

One of the largest car dealership groups in the United States, Group 1 Automotive, has taken a significant step towards sustainability.
Image source: Elite Acura, Maple Shade, NJ/Freedom Solar

One of the largest car dealership groups in the United States, Group 1 Automotive, has taken a significant step towards sustainability by completing the installation of 10,000 solar panels across multiple dealership locations. Freedom Solar Power, headquartered in Austin, Texas, specializes in collaborating directly with leading automakers, including Toyota, Ford, Volkswagen, Volvo, Audi, and Hyundai/Genesis. Their mission is to facilitate the installation of rooftop solar solutions for franchised dealerships. Read More

For Dealers 

Let's delve into the fascinating interplay of psychology and decision-making as we dissect the car buyer's journeyDecoding car buyer personas: Understanding emotional triggers and decision-making factors
Everyone likes to think they’re logical. That their decisions, particularly those with substantial financial implications, like purchasing a car, are based purely on objective analysis. Yet, more often than not, we’re swayed by our emotions. The thrill of a high-performance vehicle, the comforting safety features of a family car, or even the status signified by a luxury brand – all these elements stir emotional responses that guide our choices. As an auto dealer, recognizing and understanding these emotional triggers and the resulting buyer personas can provide a distinctive edge. It allows for a nuanced approach to sales and marketing, enabling you to speak directly to your customers’ hearts and minds. Read More

reconditioning4 simple tips to improve your dealership’s reconditioning process
How long does it take your dealership to recondition a used vehicle? If you are one of the top performers, the answer would be 24 hours or less. Does it surprise you to know that some dealerships require a week or longer for reconditioning? If you are one of these dealers, you need to streamline the process for maximum profitability. According to a Cox Automotive Report, you want to retail a minimum of 55% of your inventory within 30 days of acquisition to ensure maximum profitability. The only way to do this is to shorten the reconditioning process. Time is money and you are missing out, that’s why we put together these four tips to improve the reconditioning process. Read More

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