GM’s robotaxi issues, future of diesel, interest rate hikes

Inside Automotive

Quantum5 Sarah Vantine discusses the practices used to empower BDC teams
Today, we’re happy to have with us, Ms. Sarah Vantine, the Vice President of Sales for Quantum⁵, an automotive training and learning platform designed to develop the skills your sales and service teams need. In this segment, Sarah is going to discuss BDC best practices and effective ways to empower your entire team. Watch the full segment here.

Headlines

A new self-driving vehicle probe is underway, as the National Highway Traffic Safety Administration looks into issues with General Motors’ Cruise robotaxi. The agency announced the investigation after receiving reports of the car braking unnecessarily, causing backups and rear-end accidents. GM only offers its driverless ridesharing services in northern California, although it expects to expand into more states in the coming years. The automaker has promised to work with the NHTSA to improve safety standards while continuing development. Read More

After new vehicle prices hit an all-time high in November, Ford has again raised the price of its electric pickup variant by an additional $4,000. The base F-150 Lightning Pro now costs $58,514, roughly 44% more than it did at the start of the year. The automaker cited supply issues and shortages as reasons for the increase. Analysts are warning the auto industry that interest rate and price hikes have raised monthly lease payments for many Americans, causing consumers to delay vehicle purchases until the economy improves. However, Ford seems confident the pickup will continue to sell, and has added a third shift to its F-150 Lightning factory to increase production. Read More

Speaking to engineering and manufacturing specialists on Wednesday, diesel technology panelists reaffirmed their belief that fossil fuels will remain an important product in the future. Many industries are searching for ways to reduce emissions, leading them to invest in electric or solar energy resources to reduce gas consumption. However, as the experts noted, zero-emission and renewable fuels are still an affordable and clean alternative. Furthermore, the panelists also explained that gas addresses infrastructure weaknesses that certain energy alternatives can’t. While acknowledging that a transformation will inevitably occur in the coming decades, the panel concluded that decarbonization goals would best be met with a diverse array of energy sources, including diesel. Read More

The Federal Reserve has again raised interest rates to a target range of 4.25-4.5%, the highest since 2007. In its attempts to fight inflation and prepare for forecasted economic downturns, the Reserve has raised rates throughout 2022. However, while its intent is to ease the burden on consumers, supply chain issues and material shortages have forced industries to raise prices to cover production costs. Automakers and dealerships are especially struggling to balance manufacturer and consumer needs, as vehicle prices and monthly financing payments reached their highest in decades. Whether the new rate will finally succeed in forcing a market correction remains to be seen. Read More

News & Opinions

OTT audio advertising for car dealers: Is it truly worth it?
When it comes time to review your dealership’s marketing spend, you always face the same difficulty: is it worth investing in a new form of advertising or sticking with what’s comfortable and familiar? It’s a tricky question that must be answered before making any decisions. Today, we’re looking at streaming audio advertising and whether auto dealers should consider using this strategy as part of their marketing mix. Read More

10 Automotive retail trends that will shape the industry in 2023
EVAs we move into 2023, the automotive retail industry faces significant changes and challenges. Here are 10 of the biggest trends that will shape the industry over the next year. These trends may impact how automotive retailers do business in the coming year, from used car sales to fleet management. So, keep an eye on these ten trends as you plan your strategy for 2023. Read More

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