Inside Automotive
The long-term impacts of rising interest rates — Tom Maoli | Celebrity Motor Cars
As dealers navigate the ever-changing headwinds of today’s automotive landscape, many are worried about the effects of rising interest rates on consumers. Although inflation is showing signs of stagnating, car buyers are still facing major financial roadblocks to purchasing their next vehicle. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Tom Maoli, president and CEO of Celebrity Motor Cars. Watch the full segment here
Top stories
United Auto Workers president Shawn Fain took to social media on Friday, October 13, to deliver updates on the union’s ongoing strike against Detroit-Three automakers. The UAW chief’s latest livestream comes just two days after the union called on 8,700 additional workers to abandon their positions at Ford’s largest truck plant, located in Kentucky. Read More
Electric vehicle sales accelerated for legacy automakers in the third quarter, raising new questions about the market’s future top players. According to Cox Automotive, electric vehicle sales totaled 313,086 between July 1 and September 30, rising 49.8% from Q3 2022 and 5% from Q2 2023. Since last year, 14 new EV models have entered the market, a jump of roughly 85.7%. Read More
On October 12, Honda and Mitsubishi teamed up to maximize the value of EVs and find new uses for outdated EV batteries. The two companies signed a memorandum of understanding to develop two new business models that’ll mainly benefit Japanese EV owners. The automaker will launch its Prologue EV, the company’s first-ever all-electric SUV, in the U.S. market next year. Read More
Senior administration officials at the White House have stated that U.S. Department of Energy Secretary Jennifer Granholm and President Joe Biden unveiled seven regional “Hydrogen hubs,” stretching across 16 states, that will be eligible for up to $7 billion in federal funding. Read More
For Dealers
Creating a seamless online-to-offline EV buying experience
Remember the golden days of car buying? There wasn’t an internet where people could do research—only magazines. When new cars arrived, dealers often used opaque waterproof marker paint over the windows for the big yearly reveal. Read More
What do electric car buyers want to know before the purchase?
The car sales process has changed a lot in the last 15 to 20 years. Cars themselves have changed quite a bit in the same time period. With the introduction of new electric vehicles to many dealerships, has the information electric car buyers want to know – or want from the sales process, changed? We’ll take a look at recent studies and surveys to help you better understand how to make an electric vehicle shoppers’ experience a good one. Read More
