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New vehicle prices fall in Nov., FTC finalizes CARS rule, Tesla recalls 2 million vehicles

Inside Automotive 

The EV mandate, among other challenges, caught Lusk's attention as a significant initiative that substantially impacted the industry.EV mandates, affordability concerns are challenging the auto industry – Cody Lusk | AIADA
As we reflect on the year 2023, we recognize that dealers have been met with a myriad of challenges and successes along the way. Today, our spotlight is on international nameplate dealers adhering to diverse regulatory standards. Joining us on the latest episode of Inside Automotive is Cody Lusk, President and CEO of the American International Automobile Dealers Association (AIADA). Watch the full segment here

Top stories

Average new car prices declined in November to 98.3% of MSRP as incentives and discounts rose sharply from last year.New car prices trended lower in November as the economy continued its post-pandemic balancing act, benefiting consumers but challenging dealer and automaker earnings. According to data from Cox Automotive’s Kelley Blue Book, the average new car price was $48,247 in November, rising marginally from October but falling 1.5% year-over-year. Read More

The FTC has voted to pass the CARS rule, banning questionable fees and tactics in car sales but earning a harsh response from the NADA.The Federal Trade Commission (FTC) has voted to implement a new rule banning anti-consumer tactics and unwarranted fees in car sales, prompting a swift and critical response from the National Automobile Dealers Association (NADA). First revealed in mid-2022, the FTC’s Combating Auto Retail Scams (CARS) rule places additional restrictions on dealers and their employees when communicating with their customers. Read More

Tesla issued a recall affecting nearly 2 million models sold in the U.S. due to its Autopilot feature, which has caused nearly 1,000 crashesAuston-based Tesla recently issued a recall affecting nearly 2 million models sold in the U.S. due to its Autopilot feature, which has been involved in nearly 1,000 crashes. The recall includes Models Y, S, 3, and X, manufactured between October 5, 2012, and December 7 of this year. Read More

Utah Crimson Collective's NIL deal honors student-athletes with car leases, led by CEO Derek Mattsson and Utah 360°.
Utah Football/ Instagram

The Utah Crimson Collective and its streaming app, Utah 360°, have agreed to honor the University of Utah’s men’s and women’s basketball and gymnastics teams. In what may be the largest teamwide NIL (Name Image Likeness) agreement in collegiate sports history, student-athletes can choose between receiving a lease for a 2024 Jeep Grand Cherokee L limited edition or a 2024 Ram 1500 big horn truck, complete with the night edition package. Read More

For Dealers 

service advisor5 focused strategies to bring a wayward service advisor back in line
In the automotive realm, the salespeople are superstars, capable of selling big-ticket items. In most dealerships, however, the service advisor is responsible for generating more gross profit every month than a salesperson while serving more customers. Anyone who’s spent time in the service drive with these crucial team members can understand what a grind it can be.  Read More

From airfields to auto shops and beyond: discovering alternative pathways for finding service technicians in the retail automotive industry.Hiring auto technicians: exploring alternative industries to recruit from
Finding the right automotive technicians for your dealership can be challenging, especially when the pool of traditional candidates seems to have dried up. Yet, there’s a wealth of untapped potential in professionals from related fields who possess transferable skills and knowledge that align closely with the demands of automotive repair and maintenance. Read More

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Jaelyn Campbell
Jaelyn Campbell
Jaelyn Campbell is a staff writer/reporter for CBT News. She is a recent honors cum laude graduate with a BFA in Mass Media from Valdosta State University. Jaelyn is an enthusiastic creator with more than four years of experience in corporate communications, editing, broadcasting, and writing. Her articles in The Spectator, her hometown newspaper, changed how people perceive virtual reality. She connects her readers to the facts while providing them a voice to understand the challenges of being an entrepreneur in the digital world.

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