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Hyundai and Kia sales, automatic emergency braking proposal, Lucid’s billions

Inside Automotive

legacy, Celebrity MotorsHow the legacy of Celebrity Motors Cars is changing the automotive industry
Celebrity Motor Cars, the family of luxury automotive dealerships on the east coast, recently added a Ford store to their portfolio. On this episode of Inside Automotive, we are pleased to welcome the President and CEO of
Celebrity Motor Car Tom Maoli along with his daughter and Owner of Celebrity Ford of Toms River Veronica Maoli to discuss the transaction and the importance of legacy. Watch full segment here.

Top Stories

The NHTSA has submitted a proposal to make automatic emergency braking systems a required safety measure in all new vehiclesDemand for Hyundai and Kia vehicles continued to rise in the U.S., as both brands reported higher year-over-year sales throughout May. Hyundai’s electric vehicle lineup performed especially well for the period, with some models selling more than twice their prior-year total. Kia experienced its second-best performance for the month, increasing sales by 23% over the previous year. The two companies have now seen ten consecutive months of improvement despite ongoing supply chain and inventory issues. Read More

The NHTSA has submitted a proposal to make automatic emergency braking systems a required safety measure in all new vehiclesThe National Highway Traffic Safety Administration is proposing a rule which would require automakers to include automatic emergency braking in all new vehicles. The agency claims that the policy would prevent 24,000 injuries and 360 deaths annually, while reducing property damage related to vehicle accidents. Pete Buttigieg, the U.S. Transportation Secretary, compared the proposed rule to seatbelt and airbag regulations and said the measure “would keep all of us safer on our roads.” Read More

electrification, ToyotaToyota revealed that an upcoming electric SUV will be manufactured in the U.S., with production expected to begin in 2025. In a press release, the Japanese automaker said it plans to build the vehicle at the Toyota Kentucky facility located in Georgetown. When it launches, the product will be the brand’s first American-made EV, and will use batteries made at a separate plant in North Carolina. The move is part of a broader overhaul ramping up the company’s electric car division, which critics say has fallen behind other global car makers. Read More

PIF, LucidLucid expects to raise $3 billion from stock sales, after securing an agreement from Saudi Arabia’s Public Investment Fund. Roughly 40% of this amount will come from public traders, while the remaining 60% will be provided by the P.I.F.’s $1.8 billion investment. The electric vehicle manufacturer has struggled to compete in a small, but quickly saturating, market, comprised of both major brands such as Tesla and legacy automakers like Ford. In its quarterly report, the company said it had enough money to continue operating until next summer. Read More

For Dealers

In the auto industry's competitive landscape, dealerships must prioritize customer satisfaction to achieve success7 strategies for dealerships to enhance customer satisfaction
In the auto industry’s competitive landscape, dealerships must prioritize customer satisfaction to achieve success. Satisfying customers acts as fuel, driving growth and profitability for dealerships. As customers have endless options available in this market, differentiating themselves through providing exceptional customer experience is crucial for dealerships. This article explores seven effective strategies that can help dealerships enhance customer satisfaction and stand out in the industry. Read More

Prioritizing customer e­motions is vital for building trust, fostering healthy relationships and driving results in automotive sale­sThe role of empathy in automotive sales: Understanding customer needs for effective selling
In the automotive­ sales landscape, empathy holds significant importance­. It involves grasping and relating to others’ e­motions and perspectives. In this industry, e­mpathizing means stepping into the custome­r’s shoes, seeing through the­ir eyes, and fee­ling what they feel. Howe­ver, empathy is not synonymous with sympathy- it’s about truly comprehe­nding where they’re­ coming from. Read More

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CBT News
CBT News
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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