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Ford’s surprise strike, Tesla braces for tax credit loss, Ed Morse Auto Group acquires 3 Texas dealerships

Kain & CO.  

Julio Taberejo, Marketing Director of The Tony Group, joins David Kain to discuss the dealerships relief efforts for its community.How dealerships can serve as the heartbeat of their communities – Julie Taberejo
On the latest episode of Kain and Co., host David Kain, president of Kain Automotive, is joined by Julio Taberejo, Marketing Director of The Tony Group Autoplex, to discuss the relief efforts the dealership is currently spearheading for the victims of the “largest natural disaster in Hawaii’s state history.” Watch the full segment here

Top stories

Pressure is mounting on Stellantis and GM following the UAW strike at Ford's biggest and most profitable factory in Louisville, Kentucky. 
Image Source: Car and Driver

As contract negotiations continue, pressure is mounting on Stellantis and General Motors following the United Auto Workers strike at Ford’s biggest and most profitable factory in Louisville, Kentucky. According to summaries issued by the UAW and automakers, the Kentucky walkout serves as a warning to Stellantis and GM, whose wage and benefits offers fall short of Ford’s. Read More

Tesla has lowered the base leasing prices for its Model 3 and Y by $90 and $100 a month, following a price cut that made the Model 3 the most affordable Tesla to date.
Image Source: Which Car Gallery

Tesla has lowered the base leasing prices for its Model 3 and Y by $90 and $100 a month, following a price cut that made the Model 3 the most affordable Tesla to date. But the company has now stated that it “expects” to lose access to half of the $7,500 federal tax credit that the Model 3 is eligible for at the end of the year, meaning that the credit will only be $3,750. Read More

Ed Morse Automotive Group is headquartered in Delray Beach, Florida with dealerships in Florida, Texas, Iowa, Missouri, Illinois, Colorado, and Oklahoma.
Freedom Ford by Ed Morse, formerly Freestone Ford

The Ed Morse Automotive Group announced today that it has acquired three dealerships in Fairfield, Texas. The dealerships were purchased from Foundation Automotive Corp. The new dealerships will be: Freedom Ford by Ed Morse, formerly Freestone Ford at 1201 US Highway 84 W, Fairfield. Freedom Chevrolet by Ed Morse, formerly Freestone Chevrolet at 320 I-45, Fairfield. Freedom Chrysler Dodge Jeep RAM by Ed Morse, formerly Freestone Chrysler Dodge Jeep RAM at 350 I-45, Fairfield. Read More

Jeffrey J. Brown will remain with Ally until January 31, 2024, or an earlier date determined by the Chair of the Board to ensure a smooth leadership transition.
Jeffrey J. Brown, photographed by Jeff Siner for The Charlotte Observer

Ally Financial announced today that Jeffrey J. Brown will be stepping down early next year after serving as Chief Executive Officer and a member of Ally’s Board of Directors since 2015. The search for a successor is underway, the company said in a statement. “After 14 years at Ally, including nearly 9 years as CEO, I am so proud of how we transformed the company from the days of GMAC to who we are today, a more strategically, operationally and financially sound organization,” said Brown. Read More

For Dealers 

Why every car dealership needs an upskill plan for their staff
Has The Great Resignation impacted your dealership? Are you concerned that it might? Well, offering opportunities for your dealership staff to upskill and expand their skill sets could be the answer. Read More

Ford Kentucky Truck Plant in Louisville, Kentucky. September 15, 2023, Image by: Michael Clevenger and Matt Stone/Courier Journal/USA Today Network

Weekly roundup: UAW strikes Ford’s biggest factory, auto loan trends, Shift Technologies goes bankrupt
Earlier this week: Ford faced an unexpected UAW strike, sending ripples through its Detroit counterparts, GM and Stellantis. Meanwhile, auto loan accessibility witnessed its third consecutive month of improvement. Tesla, not to be outdone, slashed its prices, challenging conventional gasoline vehicles on cost. Online used-car giant, Shift Technologies, announces its exit with a bankruptcy plan. Lastly, the U.S. Treasury Department rolled out its proposed guidelines for lucrative EV tax credits, and more headlines to stay on top of this week in automotive industry news.  Read More

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Jaelyn Campbell
Jaelyn Campbell
Jaelyn Campbell is a staff writer/reporter for CBT News. She is a recent honors cum laude graduate with a BFA in Mass Media from Valdosta State University. Jaelyn is an enthusiastic creator with more than four years of experience in corporate communications, editing, broadcasting, and writing. Her articles in The Spectator, her hometown newspaper, changed how people perceive virtual reality. She connects her readers to the facts while providing them a voice to understand the challenges of being an entrepreneur in the digital world.

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