Your #1 source for auto industry news and content


Rivian and Amazon renegotiate, Porsche has optimistic outlook for 2023, GM considers ChatGPT innovations

Inside Automotive

M&A activityTo buy or not to buy: M&A activity in today’s car market — Alan Haig
As the dust from the COVID pandemic settles on the automotive industry, M&A activity has become more energetic than ever. Dealers are now taking the next steps in their careers, whether this means making an exit or expanding their business, in greater numbers than ever before. Alan Haig is the President and Founder of Haig Partners, an investment bank serving dealers in their M&A efforts. On this episode of Inside Automotive, Haig joins host Jim Fitzpatrick to discuss why so many storeowners are looking for a change of pace, the state of M&A activity, and what buyers should do to navigate the process successfully. Watch the complete segment here.

Top Stories

Amazon Rivian , delivery-van pactAmazon and Rivian Automotive are currently discussing renegotiating the exclusivity agreement of their electric-van contract after the online retailer’s order for 2023 came in at the low end of a previously promised range. As per the conditions of a 2019 deal, Rivian must sell all of the vans it produces to Amazon. Read More

2023 outlookLuxury German automaker Porsche has published its 2023 outlook, predicting it will earn nearly 20% back on sales. The optimistic forecast arrives just after Porsche revealed record-breaking earnings for 2022. Last year, the brand made 309,884 deliveries, 2.6% more than in 2021, while its operating profit grew 27% year-over-year to a total of 6.77 billion euros or $7.23 billion. Read More

ChatGPT GMVirtual assistants in General Motor vehicles may soon be powered by the AI language models behind OpenAI’s ChatGPT. According to a GM executive, the American carmaker is looking into potential ChatGPT applications as part of a larger partnership with Microsoft. Similar to last week, “people with knowledge of the project” had revealed GM was creating a virtual personal assistant for its vehicles utilizing Microsoft’s Azure cloud service, which contains a ChatGPT API. Read More

wholesale used-vehicle pricesLast week, Cox Automotive reported a 4.3% increase in wholesale used-vehicle prices in February. According to the report, this is the largest monthly gain for February since 2009, although average values still declined 7% year-over-year. Cox Automotive attributes some of this change to seasonal adjustment. Non-adjusted changes in wholesale used-vehicle prices amounted to a monthly increase of 3.7%, and only 5.6% annually. Read More

For Dealers

Automotive technician grapples with new EV technologyEverything you need to know about the technician skills gap for EVs
Unless you’ve hit the technician lottery, chances are your dealership is among the thousands of automotive businesses suffering through a shortage of qualified service personnel. And this situation won’t ease any time soon. Dealer service departments are at crossroads. Most car owners still depend on conventional ICE-powered vehicles, but EVs are, unsurprisingly, gaining more and more market share. Read More

Marketing and advertising to women in the automotive industryMarketing vs advertising to women car buyers and owners
Women are significant vehicle owners and drivers in North America, and their participation in the automotive market has been steadily increasing over the years. According to a 2021 report by the Women’s Bureau of the U.S. Department of Labor, 75,699,000, or 56% of women aged 16  in the United States participated in the labor force, with many of them commuting to work or driving for other reasons. Additionally, women account for almost half of all new car purchases in the U.S. 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.

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.

Related Articles


Latest Articles

From our Publishing Partners