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May U.S. auto sales forecast, VinFast recall, Stellantis invests in EV battery startup

Inside Automotive 

Kara Delaine and Ted Ings from the Fixed Ops Roundtable join Inside Automotive to discuss new opportunities opening up in the service spaceNew opportunities for mobile service in fixed ops and why technicians are scarce
Fixed ops is an essential but often misunderstood department in the dealership, leading many dealers to miss out on the growing opportunities in the service space. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Kara Delaine, vice president and co-host of Fixed Ops Roundtable, and Ted Ings, founder, president and co-host of Fixed Ops Roundtable, and the executive director of the Center for Performance Improvement, to discuss how the field has grown over the last few years. Watch the full segment here.

Top stories

According to a joint auto sales forecast from J.D. Power and LMC Automotive, total new car sales in May are expected to increase 15.6% YoY.According to a joint auto sales forecast from J.D. Power and LMC Automotive, total new car sales, including retail and non-retail transactions, are expected to reach 1,337,700 units in May, representing a 15.6% increase from May 2022. When adjusted for the number of selling days, sales volume will increase 20.4% year-over-year. New-vehicle retail sales for May are anticipated to reach 1,079,200 units, a 9.6% jump from a year ago. When comparing sales volume without adjusting for the number of selling days, the increase from 2022 is 14.2%. Read More

brand loyalty
Image Source: Tesla supercharger pilot gallery

A recent study from iSeeCars sheds light on the driving habits of electric vehicle owners compared to their internal combustion engine counterparts. The study analyzed data from over 860,000 vehicles sold in 2020 to determine the average mileage of EVs and compare it to that of traditional three-year-old cars. According to the study, the average three-year-old EV covers approximately 9,059 miles annually. The Tesla Model X, which averages 10,378 miles annually, tops the list. Following closely behind are the Model Y (10,199 miles), Model 3 (9,960 miles), and Model S (9,340 miles). Tesla’s dominance is likely the result of its solid range capabilities and an extensive public charging network. Read More

VinFast, a Vietnamese electric vehicle brand, announced a recall affecting the entirety of its first shipment to North AmericaVinFast, a Vietnamese electric vehicle brand and newcomer to the U.S. automotive industry, announced a recall affecting the entirety of its first shipment to North America. The announcement arrives some days after the National Highway Traffic Safety Administration (NHTSA) published its own recall notice on May 18. The agency writes that a software defect discovered in some 2023 VF 8 SUVs can cause the multifunction head unit (MHU) display to fail. Without a functioning MHU, which provides the driver with “critical safety information,” the agency says the EV brand’s vehicles fail to meet auto industry safety regulations. Read More

Stellantis announced a new automotive tech investment into Lyten, which aims to develop a groundbreaking electric vehicle batteryStellantis announced a new investment into advanced materials company Lyten, which aims to develop an electric vehicle battery with twice the efficiency of current automotive technology. The automaker’s offshoot venture capital fund, Stellantis Ventures, revealed the decision on Thursday, May 25. This subsidiary has purchased stakes in multiple automotive technology enterprises since its founding in 2022 and is part of its parent company’s electric-vehicle-focused Dare Forward 2030 strategy. Read More

For Dealers 

Beyond autonomous driving: Exploring cutting-edge technologies reshaping the automotive landscape
Remember the days when your phone could only call others? In 2023, phones have computing power that rivals computers used in the Apollo 11 mission. It’s looking as if cars might be following the same path. The automotive industry is at the forefront of technology innovation, especially regarding autonomous vehicles. However, several new technologies are quietly gaining traction beyond autonomous driving and could change the face of the automotive industry in the near future. Read More

A close-up of the Cadillac ESCALADE IQ name badge seen on the vehicle. Preproduction model shown // Source: Cadillac

Weekly roundup: Cadillac Escalade EV coming this year, Tesla’s brand reputation dips, Ford boosts EV goals
Earlier this week: General Motors will release the all-electric Escalade as part of its push to make Cadillac a fully electric brand by 2030. Toyota executives are urging continued development of hybrid and alternative-fueled vehicles, citing concerns about the industry’s rush toward electrification. Ford outlined plans to build millions of EVs while maintaining its financial guidance and securing new lithium supply deals. New car sales in May are expected to increase by 15.6% from the previous year, and more headlines to stay on top of this week in automotive industry news. Read More

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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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