Your #1 source for auto industry news and content

Transaction prices increase, next-gen Chevy Bolt, Tesla autopilot incidents

Inside Automotive

Sean Gardner joins Inside Automotive to discuss two complicated issues: negative equity and trade-in customers.3 tips for helping trade-in customers with negative equity — Sean Gardner | Joe Verde Group
The number of consumers with negative equity has grown in the post-pandemic era, making trade-ins more difficult for all parties. On this episode of Inside Automotive, CBT News anchor Jim Fitzpatrick sits down with Sean Gardner, trainer and sales consultant at the Joe Verde Group, to discuss how dealers can approach the topic of negative equity and solve customer pain points during the trade-in process. Watch full segment here.

Top Stories

Average transaction prices (ATP) for new vehicles increased slightly in May, although consumers continued to pay below MSRP.Average transaction prices for new vehicles increased in May, although consumers paid less than MSRP for the fifth consecutive month. Throughout the month, prices increased 3% for new cars compared to the same period in 2022. However, a corresponding increase in car-manufacturer incentive spend kept consumers costs $410 below suggested retail levels. Cox Automotive research manager Rebecca Rydzewski attributed the shift to high inventory and increased competition, stating, “This is good news for consumers…” Read More

General Motors CEO, Mary Barra, has hinted that a next-gen Chevrolet Bolt could be in the works, although production is set to end this year.

General Motors CEO Mary Barra has indicated there could be a third-generation of the Chevy Bolt, after production of the current-gen ends later this year. In an interview with NPR, the GM chief called the EV an “important vehicle in our portfolio,” despite being limited by outdated technology. Although the CEO declined to confirm a new version, she implied that the company’s updated EV platform, Ultium, could be used in future iterations of the Bolt EV. Read More

Tesla Autopilot

A Washington Post analysis suggests that Tesla’s autopilot may be involved in more crashes than previously known. According to National Highway Traffic Safety Administration data, the self-driving software was allegedly active during 736 accidents between 2019 and 2023. Whereas a report released by the agency in June 2022 found only three of these incidents resulted in death, the number of fatal crashes now sits at 17. The administration’s investigation into the safety of Tesla’s driver-assistance software is still ongoing. Read More

Tesla, White HouseTesla’s efforts to standardize charging across EV platforms have gained the attention of President Biden. After Ford and General Motors revealed they would abandon CCS-based charging outlets in favor of Tesla’s proprietary NACS outlets, the White House noted that the move would make charging stations eligible for government incentives. Although, the Biden Administration clarified that these subsidies would require station’s to include both CCS and NACS connectors, the change is projected to boost EV adoption across the country. Read More

For Dealers

When OEM policies negatively affect business, dealers, and associations have several options to get the attention of OEMs and seek recourse.Self-advocacy: How dealers can handle hot-button OEM issues
The relationship between dealers and OEMs in our industry is crucial for mutual success. However, as we all know, conflicts frequently arise as OEM policies can negatively impact dealers’ businesses. In such cases, it becomes essential for dealers to advocate for themselves and find avenues to communicate their concerns effectively. There are various opportunities and strategies for dealers to make their voices heard. Read More

How car dealers found success in a complicated first-quarter
With the arrival of summer drawing ever closer, car dealers are anxious to know where the auto industry stands and where it will go in the coming months. To answer these questions, Haig Partners, one of the nation’s most-recognized dealership buy-sell firms, has published its first quarter report, giving retailers invaluable insights into the trends shaping retail automotive. In this article, we examine four major takeaways from the Q1 2023 Haig Report and what they can tell us about the automotive mergers and acquisitions market. Read More

Stay up to date on exclusive content from CBT News by following us on Facebook, Twitter, Instagram and LinkedIn.

Don’t miss out! Subscribe to our free newsletter to receive all the latest news, insight and trends impacting the automotive industry.

CBT News is part of the JBF Business Media family.
CBT News
CBT News
For over 10 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.

Related Articles

Latest Articles

From our Publishing Partners