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Used car supply steadies, UAW votes on contracts, Tesla sells Superchargers

Inside Automotive

In early October, the California New Car Dealers Association’s 2023 Franchise Bill (AB 473) was signed into law, strengthening franchise laws in the state.California’s new franchise law: what dealers need to know – Brian Maas | CNCDA
In early October, the California New Car Dealers Association’s (CNCDA) 2023 Franchise Bill (AB 473) was signed into law, strengthening dealership rights in the state. Brian Maas, the President of the California New Car Dealers Association, is joining us on the latest Inside Automotive episode to determine what this means for dealers. The California New Car Dealers Association works to advance and safeguard franchised dealers’ interests across the state. Watch full segment here.

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Used car supply improved from October but declined from last November, while prices failed to rise during the United Auto Workers strike.Used car supply remains under pressure in November, as high new vehicle prices force many consumers to wait on their next purchase. According to Cox Automotive, dealers started the month with a total used car supply of 2.3 million units, up slightly from the beginning of October but down 4% from last November. Days’ supply averaged 49 days, unchanged month-over-month but falling five days from the prior-year period. Read More

United Auto Workers members at facilities in Kentucky and Michigan have voted against contracts proposed by Detroit-Three OEMs.

United Auto Workers members at three key facilities in Kentucky and Michigan have voted to reject their respective contracts with Detroit-Three manufacturers, raising concerns about the union’s efforts to move on from its six-week strike. Production workers at Ford’s Kentucky truck plant and Louisville Assembly Plant have voted against the automaker’s offer, which included, among other things, a 25% raise and improved benefits. Read More

Tesla made a deal to sell its Supercharger under the EG Group, a central gas station, marking the second agreement of its kind.Tesla has agreed to sell its Supercharger under the EG Group, a central gas station and convenience store operator. The deal marks the second of its kind that Tesla has made this year alone. The EV maker startled many when it announced last month that it had signed an agreement with BP to sell them $100 million in Supercharger hardware to be deployed at BP petrol stations across the U.S. under the BP brand. Read More

To calculate 5-year depreciation rates, iSeeCars examined more than 1.1 million vehicles to determine which cars hold their value better.In order to calculate five-year depreciation rates, iSeeCars examined more than 1.1 million vehicles sold between November 2022 and October 2023. This data’s historical comparison revealed that depreciation was lower across major segments than in 2019. Karl Brauer, executive analyst of iSeeCars, stated, “The good news for car owners is that all used cars hold their value better than they did five years ago.” Read More

For Dealers

automotive dealership growth strategies4 growth strategies to expand your auto dealership
If your dealership has been firing on all cylinders and the bottom line is healthy, it’s only natural to think about expansion. Yet, knowing when to grow can be challenging, especially in uncertain economic times. SCORE, which the U.S. Small Business Administration partially funds, recently highlighted several big-picture indicators that a company is ready to expand. Read More

career6 career options to explore if you’re thinking about joining the auto industry
Are you thinking of trying a new career path? The auto industry may be a perfect fit for you! The auto industry is not just about selling cars or building them; there are dozens of career paths to take and more benefits than you can imagine.
The auto industry has been booming since the first vehicle was invented in the late 1800s. Industries with long histories have the best job security. Read More

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Colin Velez
Colin Velez
Colin Velez is a staff writer/reporter for CBT News. After obtaining his bachelor’s in Communication from Kennesaw State University in 2018, he kicked off his writing career by developing marketing and public relations material for various industries, including travel and fashion. Throughout the next four years, he developed a love for working with journalists and other content creators, and his passion eventually led him to his current position. Today, Colin writes news content and coordinates stories with auto-industry insiders and entrepreneurs throughout the U.S.

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