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July sales forecast, Tesla’s range estimates, interest rate hikes

Inside Automotive

Julian TreasureUsing conscious listening to aid salespeople in improving customer satisfaction — Julian Treasure
In today’s noisy, fast-paced, and competitive business landscape, effective listening and speaking are skills you should master. It ultimately impacts your bottom line. On today’s Inside Automotive, we’re pleased to welcome 5-time TED and International Keynote Speaker, Entrepreneur, and Author of Sound Business and How to be Heard Julian Treasure. Julian joins us to share his insights into conscious listening and powerful speaking. Watch full segment here.

Top Stories

When automakers release their new-vehicle sales figures, it’s expected to show significant year-over-year growth and a slight improvement over last month. The market’s strong rebound from being supply-chain limited over the previous two years continues to be the primary driver of these increases. The seasonally adjusted sales rate (SAAR) for July is anticipated to be close to 15.9 million, higher than the 15.7 million level from June and the 15.1 million from May. Read More

Tesla rangeFor years, Tesla falsified its range-estimating software to inflate the possible range of its vehicles. The EV maker created algorithms for its range meter to present drivers with “rosy” projections for how far owners can drive before recharging. The algorithms would display drivers’ more accurate projections for their remaining driving range when the battery exceeded 50% of its maximum charge. Tesla’s were built with a “safety buffer,” providing an additional 15 miles (24 km) of range even after the dash display indicated an empty battery to prevent drivers from becoming stranded. Read More

The American economy grew faster than expected in the second quarter, leading the Federal Reserve to raise interest rates once more.

The American economy grew faster than expected in the second quarter, leading the Federal Reserve to raise interest rates once more in an effort to slow inflation. Although analysts no longer believed the second quarter would result in a recession, expectations for the period still trended below 2% growth. However, the Bureau of Economic Analysis estimates the economy expanded at a rate of 2.4% over the course of April, May and June, slightly faster than in Q1. Read More

Seven automakers are partnering to build thousands of universal electric vehicle chargers in an attempt to boost sales in the U.S.Seven automakers are partnering to build thousands of universal electric vehicle chargers in an attempt to boost sales in the U.S. The new joint venture involves Stellantis, BMW, Mercedes-Benz, Honda, Hyundai, Kia and General Motors. The car manufacturers plan to install more than 30,000 electric vehicle charging stations across the country. Each station will be powered entirely by renewable energy and feature both NACS and CCS connectors, making them accessible to virtually all EV drivers. Read More

For Dealers

Timing is critical to both dealers and car buyers and seasonal sales are once again playing a big role.

Q&A | How auto dealers can leverage the return of seasonal sales
Seasonality plays a crucial role for both dealers and car buyers, and understanding its impact is vital in the automotive industry. Historically, certain seasons experience higher demand for vehicles, such as the spring and fall, while winter months see a slowdown. However, the pandemic disrupted these patterns, causing inventory shortages and a decline in end-of-year sales. Now, as inventory levels gradually stabilize, dealers are once again embracing the significance of seasonality by reintroducing incentives and other seasonal sales to stay competitive. Read More


Weekly roundup: Stellantis posts record earnings, Tesla’s 7-year financing, new AI solutions from J.D. Power
Stellantis reported record-breaking earnings of $12.1 billion, a 37% increase in net profit, and a 12% year-over-year revenue growth to $109 billion for the first half of 2023. Seven automakers are forming a joint venture to construct over 30,000 universal electric vehicle chargers powered by renewable energy. J.D. Power and Palantir Technologies have partnered to create AI-powered analytics and workflow tools for dealers, and more headlines to stay on top of this week in automotive industry newsRead More

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