Weekly roundup: GM’s new EV battery plant, direct-to-consumer sales banned in Florida, and Lithia acquisition

CBT News - June 16, 2023

Earlier this week: General Motors announced that it will follow Ford's lead and adopt Tesla's North American Charging Standard. Florida Governor and presidential hopeful Ron DeSantis signed a state bill...

Daily Automotive News Articles

To further support affordability, median income experienced a growth of 0.3% during May. Manufacturers also offered increased incentives to entice buyers.

New vehicle affordability improved in May despite higher prices and interest rates

CBT News - June 15, 2023

In May, the affordability of new vehicles experienced a slight improvement compared to previous months, according to new data from Cox Automotive. This positive trend was primarily driven by solid...

Headlines Articles

TrueCar appointed Jantoon Reigersman as its new CEO to turn around the struggling vehicle listings company as part of a restructuring plan.

TrueCar replaces CEO, cuts 102 positions as part of restructuring plan

Jaelyn Campbell - June 15, 2023

On June 12, the Santa Monica, California-based business said it would eliminate 102 jobs or 24% of its workforce. TrueCar is also appointing COO Jantoon Reigersman as its new CEO...

Headlines Articles

On June 13, Lithia grew its portfolio in a significant way by announcing the purchase of 13 locations from the Priority Automotive Group.

Lithia expands footprint with acquisition of 13 Priority Automotive stores

Jaelyn Campbell - June 15, 2023

On June 13, Lithia and Driveway announced its plans to grow its dealership footprint with the purchase of 13 locations from the Priority Automotive Group in Virginia, which expands its...

Headlines Articles

According to the U.S. Commerce Department, sales rose 0.3% rise from April to May, driven by stronger retail sales at auto and parts dealers.

Retail sales rose 0.3% in May, beating analyst expectations

CBT News - June 15, 2023

Despite the challenges posed by persistent inflation and rising borrowing costs, Americans increased their spending at retailers in the month of May. According to the latest U.S. Commerce Department report released...

Articles Headlines

A study published on Tuesday, June 13, by AAA found sizable differences in an electric vehicle's driving range based on cargo weights.

AAA study finds EV driving range limited by heavy cargo

CBT News Staff Writer - June 14, 2023

A study published on Tuesday, June 13, by the American Automobile Association (AAA) found sizable differences in an electric vehicle's driving range based on cargo weights. Using a 2022 Ford F-150 Lightning, AAA researchers loaded...

Articles Headlines

Shareholders reject a resolution calling for greater disclosure of Toyota’s climate lobbying

Jaelyn Campbell - June 14, 2023

On June 14, Toyota shareholders rejected a resolution urging greater disclosure of its climate lobbying, voting down the first investor proposal before the automaker's annual general meeting in almost two...

Headlines Articles

Several companies favor Tesla’s NACS connector, but Stellantis isn’t ready

Jaelyn Campbell - June 14, 2023

Following the announcement that both Ford and GM will adopt Tesla’s NACS connector in future electric vehicles in North America has sent gaining support from other companies, primarily charging stations,...

Headlines Articles

Florida Governor Ron DeSantis signed off on a bill prohibiting car manufacturers from using direct-sales models.

DeSantis approves bill partially banning direct-to-consumer car sales in Florida

CBT News Staff Writer - June 14, 2023

Florida Governor and Republican presidential candidate Ron DeSantis has signed off on a bill prohibiting car manufacturers from using direct-sales models in the state. DeSantis signed the law, along with several others, on Tuesday, June...

Articles Headlines

Toyota has revealed plans to heavily boost electric-vehicle development and production amidst shareholder protests over electrification.

Toyota unveils electric vehicle plans amidst shareholder outcry

CBT News Staff Writer - June 13, 2023

Toyota has revealed plans to heavily boost electric vehicle development and production amidst shareholder protests over its slow-moving progress on electrification. The Japanese car manufacturer published a new technology strategy on Tuesday, June...

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Headlines

Weekly roundup: GM’s new EV battery plant, direct-to-consumer sales banned in Florida, and Lithia acquisition

New vehicle affordability improved in May despite higher prices and interest rates

TrueCar replaces CEO, cuts 102 positions as part of restructuring plan

Lithia expands footprint with acquisition of 13 Priority Automotive stores

Retail sales rose 0.3% in May, beating analyst expectations

AAA study finds EV driving range limited by heavy cargo

Shareholders reject a resolution calling for greater disclosure of Toyota’s climate lobbying

Several companies favor Tesla’s NACS connector, but Stellantis isn’t ready

DeSantis approves bill partially banning direct-to-consumer car sales in Florida

Toyota unveils electric vehicle plans amidst shareholder outcry

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