Earlier this week: CDK Global confirmed there were no data breaches in June cyberattacks. The forecast shows a stable outlook for U.S. new vehicle sales in August. The Biden-Harris administration will finalize tariff hikes on Chinese imports amid industry pushback. Samsung SDI and GM finalize a $3.5 billion EV battery plant deal. Dave Cantin Group helps Stivers Automotive expand with a strategic Ford dealership acquisition. Biden admin invests $521 million to expand EV charging infrastructure. Ford announces a major shift in diversity, equity, and inclusion strategy.
Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.
1. CDK Global confirms no data breach in June cyberattacks
CDK Global, a leading provider of dealership management systems, has confirmed that the cyberattacks in June that led to the shutdown of its systems across North America did not result in the theft of dealership employee or consumer data. Read More
2. Stable outlook for U.S. new vehicle sales in August, forecast shows
Cox Automotive’s latest forecast anticipates that U.S. new vehicle sales for August will remain relatively stable when adjusted for significant seasonality. The seasonally adjusted annual rate (SAAR) is projected to reach 15.4 million units, a slight increase from last August’s 15.3 million but down from July’s strong 15.8 million pace. July’s surge was partly due to a rebound from a dealership software disruption that affected the market in late June. Read More
3. Biden-Harris admin to finalize tariff hikes on Chinese imports amid industry pushback
The Biden-Harris administration is expected to finalize steep tariff increases on certain Chinese imports this week. However, various U.S. manufacturers, from electric vehicle makers to utility equipment producers, urge the administration to soften, delay, or abandon many of these planned duties. Read More
4. Samsung SDI and GM finalize $3.5 billion EV battery plant deal
South Korea’s Samsung SDI and General Motors (GM) have finalized an agreement to jointly invest $3.5 billion in a new electric vehicle (EV) battery manufacturing plant in Indiana, marking a significant step forward in their partnership. Read More
5. Dave Cantin Group helps Stivers Automotive expand with strategic Ford dealership acquisition
The Dave Cantin Group (DCG), a prominent advisor in the automotive retail sector, has successfully facilitated Stivers Automotive’s acquisition of a Ford dealership in Union City, Georgia, from AutoNation. This transaction underscores DCG’s expertise in navigating the Southeast automotive market. Read More
6. Biden admin invests $521 million to expand EV charging infrastructure
The Biden administration announced a $521 million funding boost to expand electric vehicle (EV) charging infrastructure, which will see the deployment of over 9,200 new charging ports across the United States. This investment addresses the critical need for enhanced EV charging networks to support the growing adoption of electric vehicles and reduce greenhouse gas emissions. Read More
7. Ford announces major shift in diversity, equity, and inclusion strategy
Ford has announced a major shift in its diversity, equity, and inclusion (DEI) strategy, including ending its involvement in the LGBTQ+ advocacy group’s ranking system. This change aligns Ford with other U.S. companies, such as J.P. Morgan, Chase, and Harley Davidson, that have recently redefined their DEI programs under pressure from conservative groups. Read More
8. Why F&I success starts with the sales desk: building stronger, more collaborative dealership teams
In this episode of Training Camp, Adam Marburger, a seasoned F&I expert, delivers a compelling message that underscores the crucial relationship between sales managers and F&I departments. Marburger draws on his extensive experience in the automotive industry to highlight how a strong partnership between the sales desk and the F&I office can significantly enhance dealership performance. Watch the full segment here.
9. Tesla’s market share slips in California as EV competition intensifies – Brian Maas | CNCDA
Tesla, the second best-selling brand in California, continues to face challenges in the state. The last time we checked in with Brian Maas, the President of the California New Car Dealers Association, we discussed the decline of Tesla registrations. On today’s episode of Inside Automotive, we want to get an update on how things are going and some of the other key takeaways from their Q2 Auto Outlook Report. Watch the full segment here.
10. Strategies for elevating black women in automotive leadership – A.V. Fleming | Ford Minority Dealers Association
In an industry traditionally dominated by men, black women have often been left out of the conversation when it comes to leadership roles in automotive retail. However, change is on the horizon. Joining us on the latest episode of Diversity in Automotive is A.V. Fleming, Executive Director of the Ford Minority Dealers Association, to shed light on the strategies needed to elevate black women within the industry and the importance of focused initiatives to drive this change. Watch the full segment here.
