Inside Automotive
New franchise laws in California could affect entire U.S. car market – Brian Maas
Franchise law reforms are set to arrive in several states, including California, which revise factory reimbursements for warranty work. Brian Maas is the President of the California New Car Dealers Association (CNCDA), where he keeps careful track of the massive region’s catalytic car market. On this episode of Inside Automotive, Maas joins host Jim Fitzpatrick to discuss these laws and what they could mean for retail automotive at large Watch the complete segment here.
Top Stories
On March 14, the White House announced the opening of applications for a $2.5 billion funding program to develop the nation’s urban and rural areas’ infrastructure for EV charging and alternative fueling. The Charging and Fueling Infrastructure (CFI) program, which was established by the Bipartisan Infrastructure Acts enacted in 2021, offers $2.5 billion over five years to qualifying applicants. Read More
Credit reporting agency Experian recently published consumer data in the electric vehicle market, revealing hidden strengths in the small but thriving segment. According to Experian’s January report, Tesla gained a strong competitive advantage in the luxury market against BMW, which earned a distant second to the EV brand in 2022. In total, the U.S.-based manufacturer had gained 49,917 registrations by the end of the month, 60% more than the German automaker’s 31,070. Read More
After revealing it had beat 2022 forecasts last Thursday, BMW has announced it is targeting a higher EBIT margin (earnings before interest and taxes) in 2023, fueled by its premium and electric products. Last week, the German automaker declared it had met its targets for 2022, with an automotive EBIT margin of 8.6%, resulting in an un-adjusted profit of 10.6 billion euros ($11.4 billion). Read More
Deborah Wahl, global chief marketing officer at General Motors, is leaving the company. The information was confirmed by a GM spokesman, who stated that Wahl “decided to retire” and “will be transitioning until March 31, 2023.” Adding “We appreciate Deborah’s accomplishments since joining GM in 2018 and wish her well in her future chapter. We will hire a new Global Chief Marketing Officer through an external process.” Read More
For Dealers
5 notable automotive M&A deals in the first months of 2023
With dealership and OEM profits relatively high, increased consumer demand, and an uptick in retirees who are closing or selling their dealerships, M&A activity has been high for several quarters now. There were numerous M&A deals throughout 2021 and 2022, and there have already been some quite notable ones in the first months of 2023. Read More
Autonomous vehicles: A look at the future of self-driving cars
The auto industry has been revolutionized by technology in recent years, with the introduction of electric vehicles and the emergence of connected cars. However, the most significant change that could shake the automotive industry to its core is the advent of autonomous vehicles. Read More
