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EV credit update, Honda sales rise, Fed pauses rate hikes


What Q3’s auto loan trends mean for the months ahead — Melinda Zabritski | Experian Automotive
Auto loan delinquencies have steadily risen throughout the year, giving many financing and insurance specialists the impression that car buyers are struggling to navigate today’s economic headwinds. However, to the surprise of many, dealers have continued to see strong sales in 2023, seemingly contradicting the idea that consumers are facing challenges. To take a deeper look at the actual state of consumer finances and how these have impacted auto loan trends, Melinda Zabritski, senior director of solutions consulting at Experian Automotive, joins Jim Fitzpatrick on CBT Now. Watch full segment here.

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By shopping with dealers registered with the IRS, a car buyer can use their electric vehicle tax credit as a down payment at the time of sale.Dealers can now obtain direct access to consumer electric vehicle tax credits thanks to a new website launched this Wednesday by the IRS. By registering through the IRS Energy Credits Online Portal, dealers can enable the immediate transfer of electric vehicle tax credits from the customer to the retailer at point-of-sale, effectively allowing buyers to use their incentives as a down payment for their purchase. Read More

American Honda saw sales rise dramatically from 2022, overcoming its inventory and supply challenges to score a year-over-year gain of 32.6%.American Honda saw sales rise throughout the month of October thanks to improved inventory and stable demand. The automaker reported total sales of 108,088 units, comprised predominantly of trucks. The number represents a 32.6% increase over the previous year, one of the strongest post-pandemic recoveries seen from major car manufacturers. Read More

The award for Automotive News 'Best Dealership to Work for' honors two Kunes Automotive and RV Group, located throughout the midwest.Automotive News’ presented its “Best Dealership to Work for” award to two storefronts owned by Kunes Auto and RV Group, which operates over 44 car and RV dealerships throughout the Midwest. The recipients are Kunes Chrysler Dodge Jeep Ram of Oregon and Kunes Chrysler Dodge Jeep Ram of Monmouth, Illinois. Each year, only 100 dealerships from the U.S. and Canada get recognized, and Kunes has been on the list for ten consecutive years, having won 44 awards altogether. Read More

The feds said that "economic activity expanded at a strong pace in the Q3" following policymakers' unanimous decision to keep rates unchangedThe Federal Reserve held interest rates steady on November 1 while policymakers grappled with whether financial conditions would be sufficiently tight enough to contain inflation or if the economy would continue to outpace forecasts and necessitate even more restraint. Fed Chair Jerome Powell acknowledges that there is still some mystery surrounding the matter. In the event that inflationary pressures rise, U.S. Central Bank officials will raise interest rates yet again. Read More

For Dealers

Most electric vehicle buyers are concerned with helping sustain or improve Earth’s environment since electric vehicles don’t have emissions.4 of the best marketing channels to reach electric vehicle buyers
As electric vehicles become more mainstream, you might wonder how you reach customers who tend to be more likely to buy electric vehicles. We’ll discuss some of the methods most commonly used to attract buyers who are interested in battery-powered vehicles. We’ll also talk about who today’s electric buyers are, and who they will be in the future. Read More

Future of MobilityEntrepreneurial endurance tested: navigating today’s economic climate
Welcome to another edition of The Future of Automotive, with Steve Greenfield, Founder and CEO of Automotive Ventures, where I put recent automotive and mobility news items into context in terms of the broader thematic areas that will potentially impact the industry. Being a founder is hard and can often be thankless. Entrepreneurs experience crazy highs and terrible lows. And recently it’s gotten even harder to be an entrepreneur. Overall, the market remains under considerable stress. Read More

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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.

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