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Used car prices fall, Biden defends EV rules, GM to make hydrogen vehicles

Inside Automotive

Tech YouTuber Faiz Aly joins Inside Automotive to discuss his experience attending the Cybertruck launch event.Tech YouTuber Faiz Aly shares highlights from Tesla’s Cybertruck event
Tesla’s long-awaited Cybertruck is now officially here, following the electric vehicle brand’s recent launch party. However, between the company’s growing list of controversies and the polygonal pickup’s chaotic production history, reactions have been mixed. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by tech YouTuber Faiz Aly. Watch full segment here.

Top Stories

Used vehicle prices continued to trend downward in November as the automotive industry entered into its holiday slump.Wholesale used vehicle prices declined in November as the auto industry entered its seasonal slump. According to Cox Automotive’s Manheim Used Vehicle Value Index, used vehicle prices declined 2.1% from October and 5.8% from November 2022. The pace at which car values depreciated varied between segments. Smaller passenger vehicles saw the most significant drop, falling 11.3% year-over-year. Meanwhile, pickups retained their value the most, with wholesale prices declining only 4.6%. Read More

electric vehicle electric vehiclesHouse Republicans voted in favor of a bill that would block some of the Biden Administration’s electric vehicle policies, with several Democrats joining to approve the law. The bill in question would prevent the White House from requiring automakers to gradually boost electric vehicle sales until they comprise a majority of new car purchases. While the pace of EV adoption has rapidly increased in the wake of competition between legacy automakers and Tesla, President Biden’s policy has been criticized, primarily by manufacturers and Republican lawmakers, for its aggressive timeline. Read More

GM and Autocar have reached a joint agreement to produce a line of zero tailpipe emission commercial vehicles to run on GM's Hydrotec powerGeneral Motors and Autocar Industries have reached a joint development agreement to produce a line of zero-tailpipe emission commercial vehicles that run on GM’s Hydrotec power cubes. By 2026, Autocar’s Birmingham, Alabama, facility will produce the first zero-emission vehicles. These vehicles, including terminal tractors, dump trucks, road maintenance vehicles, and cement mixers, typically rely on diesel engines as their power source. Read More

Ford announced that federal tax credits for its electric Mustang Mach-E vehicles may no longer be available starting in January 2024.

On December 6, Ford announced that the federal tax credits for its electric Mustang Mach-E vehicles may no longer be available starting in January 2024. This is due to the U.S. Treasury having outlined new battery guidelines that will go into effect on January 1. The aim is to gradually move the American EV supply chain away from “foreign entity concerns,’ such as China. As a result, many manufacturers, including Ford, anticipate losing a portion of their electric vehicles (EVs). Read More

For Dealers

We've put together a few general and a few specific ideas that could improve your dealership's website conversion rate quickly.Proven strategies to boost your dealership’s website conversion rate
Most of car shoppers first learn about your dealership and vehicles from your website. That’s why having a dealership website that gets customers in the door is so important. We’ll discuss a few general and specific ideas and concepts that could improve your website conversion rate quickly. We intend to say a little more than “Offer chat!” too. Read More

Exploring major market trends: Stellantis' new EV launch, GM's charging stations, shifts in used EV sales, and new tax credit rules.

Weekly roundup: Stellantis brings electric Fiat 500e to U.S., GM opens EV charging stations, Biden tightens EV rules
Stellantis launched the Fiat 500e, marking its first EV foray in the U.S. GM’s collaboration with EVgo opened up new EV charging stations at Pilot Travel Centers. A recent study discussed the challenges facing the used EV market, highlighted by a significant sales slowdown. Additionally, the Biden Administration adjusted the latest EV regulations aimed at reducing Chinese influence in the U.S. EV market. Here’s a closer look at these top stories and more headlines to stay on top of this week in automotive industry newsRead More

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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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