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Carvana beats expectations, Wholesales used car prices decline, NHTSA investigates electrical issues

Inside Automotive 

Don HallWhat dealerships need to do to attract tomorrow’s top talent — Don Hall | VADA
Welcome back to another edition of Inside Automotive with your host Jim Fitzpatrick, on the CBT Automotive News Network. We are pleased to be joined again by Don Hall, President and Ceo of the Virginia Automobile Dealers Association, who will enlighten us on the need to know of how to attract the kind of talent that will get us across the finish line.  Watch the full segment here

Top stories

CarvanaUsed car retailer Carvana has released its first-quarter earnings report and revealed a quarterly loss of $1.51 per share, resulting in an earnings surprise of 19.5% over Wall Street forecasts. Read More


The year-over-year declines in wholesale used car prices indicate a return to pre-pandemic conditions rather than waning demand.Wholesale used car prices declined for the first time this year. According to April’s latest Manheim Used Vehicle Value Index, prices decreased 3% from March and 4.4% from a year ago. “We’ve experienced eight straight months of year-over-year declines, averaging 8.3%, and it’s likely not over yet,” stated Chris Frey, senior manager of economic and industry insights for Cox Automotive Read More

After a woman died inside her SUV in December, U.S. safety regulators are investigating possible electrical issues in older Dodge Journeys. After a woman was trapped and died inside her Dodge Journey SUV in December, U.S. safety regulators began investigating possible electrical malfunctions to determine whether or not this was an isolated incident or if more drivers are exposed. Read More

Wall Street, U.S. economyThe Labor Department revealed that job growth performed better than anticipated in April despite banking turmoil and a slowing economy. According to the Bureau of Labor Statistics, nonfarm payrolls rose by 253,000 for the month, exceeding Wall Street expectations for growth of 180,000. Read More

For Dealers 

Conquering your self-doubt: How to get out of your own way
Running a successful auto dealership requires a mix of business acumen, passion, and dedication. Despite having these traits, self-doubt can still creep in and negatively impact your business. By understanding how self-doubt can affect your auto dealership and learning strategies to overcome it, you can create a thriving business that exceeds expectations. Read More

Resolving OEM-dealer conflict: Is legislation the only solution?
Although both sides of the automotive industry profit from the other’s success, the goodwill between dealers and manufacturers is frequently marred by controversy. Much of the conflict between retailers and OEMs originates from the opposing motives each party brings to the table. Dealers argue that automakers exploit loopholes in the system at the expense of retail profits and accuse OEMs of failing to observe the diverse needs of local markets. Read More

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