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Car payments rise, Stellantis sales decline, Toyota partners with LGES

Inside Automotive

Roberts leadershipHow to go from being a busy leader, to a productive one — Ed Roberts | Bozard Ford Lincoln
Ed Roberts, the Chief Operations Officer at Bozard Ford Lincoln, has released his new book, Mile One: A Leadership Journey. Throughout his career, Roberts has gained extensive experience in various leadership positions and has developed a deep understanding of what it takes to inspire and motivate people to achieve their goals. So on today’s Inside Automotive, Roberts will walk us through what readers can expect to take away from the new book. Watch full segment here.

Top Stories

Talks between Detroit-Three automakers and the United Auto Workers union have accelerated since the launch of additional strikes last week.Talks between Detroit-Three automakers and the United Auto Workers union have accelerated since last week, according to sources familiar with the matter. Reuters on Thursday reported that contract negotiations with Stellantis had recently become more “active” from the preceding weeks. Remarks from United Auto Workers president Shawn Fain corroborate this claim. Read More

Edmunds reports that new and used car payments reached new heights over the third quarter as the industry braces for more shortages.Car payments for new and used vehicles rose to all-time highs over the third quarter, according to automotive data firm Edmunds. The economic impact of the COVID pandemic has increased the burden on consumers across all industries. This is especially true for vehicle buyers, who continue to face unaffordable prices and lack optimal financing options. Annual percentage rates (APR) on used and new car payments reached all-time highs between July and September. Read More

According to Stellantis, the manufacturer of Chrysler, Dodge, Jeep, Ram, and other vehicles saw a 1% year-over-year decline in third-quarter sales in the U.S.

According to Stellantis, the manufacturer of ChryslerDodgeJeepRam, and other vehicles, it saw a 1% year-over-year decline in its U.S. third quarter sales. Following the second quarter, when the automaker reported its first uptick in U.S. sales in two years, the third quarter saw another decline in Stellantis’ biggest market. The United Auto Workers strike against the transatlantic automaker and its crosstown rivals has had little effect on sales thus far because Stellantis has some of the highest amounts of inventory. Read More

Toyota and LG Energy Solution (LGES) will work together to supply lithium-ion batteries for use in the Japanese automaker's electric vehicles produced in the United States.Starting in 2025, Toyota and LG Energy Solution (LGES) will work together to supply lithium-ion batteries for use in the Japanese automaker’s electric vehicles produced in the United States. The U.S. Inflation Reduction Act, which encouraged a tidal wave of investments in new EV battery plants in North America, catalyzed the Toyota-LGES announcement. The IRA and other U.S. legislation give incentives to increase American manufacturing of EVs, batteries, and raw materials. Read More

For Dealers

This week in automotive news: Detroit's big three amp-up union talks, September car sales data, and Ford's new F-150 Lightning Flash.

Weekly roundup: UAW talks intensify, U.S. auto sales hold steady, Ford unveils F-150 Lightning Flash
The Detroit-Three and the United Auto Workers union have ramped up their contract negotiations, as reported by sources and further confirmed by Reuters. This development unfolds amid a backdrop of consistent car sales in the U.S., with Japanese automakers, especially Honda and Toyota, showing notable figures. Meanwhile, emerging electric giants, Tesla and Rivian, provide a glimpse into the EV market’s trajectory. Adding to the mix, Ford announces its advanced F-150 Lightning Flash, signaling further innovation in their vehicle lineup, and more headlines to stay on top of this week in automotive industry news. Read More

video marketingVideo marketing strategies that convert leads into sales
The key to success is converting leads into sales for automotive dealerships. And video marketing is one of the most effective ways to do just that. According to a Vidyard study, prospects are 64% more likely to buy after watching a video than those who didn’t watch it. Additionally, viewers are 85% more likely to buy a product after watching a video about it. So how can you use video marketing to convert leads who’ve already contacted you into booking an appointment and ultimately a sale? Here are some tips. Read More

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