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New vehicle prices, Toyota’s hybrid Camry, financing satisfaction study

Inside Automotive

Julie Herrera joins Inside Automotive to discuss how Toyota of Cedar Park has continued to grow in America's most competitive car market.How the Texas car market continues to surprise dealers — Julie Herrera | Toyota of Cedar Park
Located in one of the largest car markets in the U.S., Toyota of Cedar Park has achieved incredible success in Texas, navigating a pandemic, rising interest rates, work shortages, and inventory hurdles with apparent ease. But even as the company celebrates its achievements, it is also taking steps to grow its business, underscoring the ongoing vitality of the retail automotive sector. Watch full segment here.

Top Stories

New vehicle prices saw little movement in October even as the United Auto Workers strike threatened to cause shortages.New vehicle prices and inventory remained stable in October, even as a six-week United Auto Workers strike disrupted Detroit-Three manufacturing and cost the industry billions in revenue. According to Cox Automotive, average new vehicle prices saw only slight shifts in October, falling 1.4% from the previous year but gaining less than 1% from September 2023. Read More

Digital channel users score higher in satisfaction, Net Promoter Scores, and lower service costs, according to J.D. Power study.Digital channels have emerged as the most efficient and effective way for auto lenders to maintain or grow their profitability despite the current macroeconomic conditions. Customers who use digital channels to handle their accounts have much higher overall satisfaction, bigger Net Promoter Scores, and lower cost to service than customers who use traditional methods, according to the J.D. Power 2023 U.S. Consumer Financing Satisfaction Study. Read More

The 2025 Toyota Camry will launch as an exclusively hybrid model without the option to purchase an ICE-only drivetrain.The incoming generation of Toyota Camrys will abandon their customary internal combustion engines in favor of a hybrid-only system, according to automaker executives. The 2025 Toyota Camry will be exclusively hybrid, launching with both a 2.5-liter engine and an electric powertrain. In a first for the series, buyers can choose between FWD and AWD models, with respective outputs of 225 and 232 horsepower. Read More

With Thanksgiving vastly approaching, Columbia Gorge Toyota and Honda utilized social media to promote its 3rd annual Turkey Trot 5K Benefit.With Thanksgiving rapidly approaching, the Columbia Gorge Toyota and Honda dealerships utilized social media to promote their third annual Turkey Trot 5K Benefit Walk/Run by sharing a humorous TikTok video that has captured the community’s hearts. Matthew Ryan Thompson, who was featured in the TikTok video, came up with the concept back in 2021, and it has since made a comeback. Read More

For Dealers

The succe­ss of car sales depends not only on an e­ffective sales or F&I de­partment but also on the synergy cre­ated betwee­n them.Synergizing sales and F&I: unlocking efficient communication for faster car sales
The automobile­ industry has undergone remarkable­ changes, and the deale­rships that have embraced the­m have thrived while those­ that didn’t were left be­hind. However, one aspe­ct that’s often disregarded is the­ internal communication betwee­n sales and F&I teams. Improving this line of communication can unlock impressive e­fficiency gains and faster car sales. Read More

CBT News is honored to present the recipients of the first-ever CBT News 40 Under 40 awards.CBT News names winners of inaugural 40 Under 40 awards
CBT News, the dealer community’s No. 1 resource for in-depth interviews and news coverage, is pleased to announce the winners of the inaugural CBT News 40 Under 40 awards, recognizing excellence, passion and success in today’s retail automotive professionals. Read More

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CBT News
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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