Inside Automotive
Why consumers are avoiding the used car market — Karl Brauer | iSeeCars.com
The used car market has rapidly transformed in recent years under the weight of the COVID pandemic and constricted manufacturing. As vehicle inventories started to dwindle, new trends began to emerge in the preowned segment. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Karl Brauer, executive analyst at iSeeCars.com. Watch full segment here.
Top Stories
Tesla struggled to build momentum in the third quarter, causing it to stumble on earnings and miss analyst forecasts. From July through September, the electric vehicle company generated $23.4 billion in revenue on deliveries of 435,000 units. The number represents an 8.8% increase over the $21.5 billion it earned in Q3 2022 but a decline of roughly 6% from Q2 2023. Read More
Twenty-five Republican Senators and Democratic Sen. Joe Manchin are backing a bill that would nullify the Environmental Protection Agency’s (EPA) recently pitched emissions standards. Announced earlier this year, the EPA regulations would impose the strictest climate-change policies in U.S. history. The proposal’s effective date is roughly four years away, after which the permissible volume of emitted gas would shrink on a yearly basis. Read More
The inaugural J.D. Power U.S. Robotaxi Experience Study found that consumers are uneasy about testing and using robotaxis on city streets. The study offers the first customer reviews from people who have used robotaxis and those who have interacted with them in their neighborhood. According to the study, only 27% of non-riders are at ease sharing the road with robotaxis, and 20% of all customers nationwide are at ease with autonomous vehicles (AVs) technology being tested on nearby streets and highways. Read More
On October 18, Ford announced that it recalled 35,000 Mustang Match-E electric vehicles due to high voltage battery main contactors that may overheat, resulting in a loss of driving power. In August, the National Highway Traffic Safety Administration (NHTSA) opened an investigation to determine whether Ford’s recall of 49,000 Mach-E vehicles in June 2022 adequately addressed the issue. Read More
For Dealers
Auditing your dealership’s service scheduling processes
The gateway to your dealership’s service department is scheduling. Make this process effortless, and the journey for a satisfied customer gets off on the right foot. However, you may never know if there are roadblocks to arranging a service appointment because the customer will simply go elsewhere. This is why auditing your service scheduling process regularly is so critical. Read More
Weekly roundup: New car affordability, EV growth, and layoffs amid UAW actions
Car buyers experienced improved affordability for new vehicles despite rising interest rates, with Cox Automotive reporting a decline to 42.2 weeks of income as the cost for a new car. Meanwhile, the first half of October saw a dip in wholesale used car prices by 1.6%. Electric vehicle sales surged in Q3, with a notable 49.8% rise from Q3 2022 and 14 new models introduced, pushing EVs to make up almost 8% of Q3 car sales. Read More
