Earlier this week: The Federal Trade Commission defended its new regulations on dealership advertising and finance practices. General Motors announced that its new entry-level Cadillac Optiq EV will start at $54,000. Toyota is making a significant stride in engine technology with plans to develop smaller engines capable of running on carbon-neutral fuels. The NHTSA said that owners of nearly 84,000 older Nissan vehicles in the United States equipped with recalled, unrepaired Takata airbags should immediately stop driving them. Cox Automotive anticipates a positive trend in May’s new-vehicle sales compared to last year, buoyed by significantly higher inventory levels leading to more attractive incentives. Volkswagen aims to debut its new low-cost EVs in 2027, priced around $21,800. As the class of 2024 graduates and embarks on their next adventure, many will be looking for new vehicles to accompany them.
Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.
1. FTC defends new rule on dealership practices amid legal challenge
The Federal Trade Commission (FTC) has defended its new regulations on dealership advertising and finance practices, asserting the rules are necessary, lawfully developed, and beneficial to society. This defense comes as the National Automobile Dealers Association (NADA) and Texas Automobile Dealers Association petition the 5th U.S. Circuit Court of Appeals to amend or overturn the regulations. Read More
2. General Motors unveils its $54,000 2025 Cadillac Optiq EV
General Motors has announced that its new entry-level Cadillac Optiq electric vehicle will start at $54,000. The compact crossover, Cadillac’s fourth electric vehicle, is expected to hit the market later this year. Read More
3. Toyota’s new compact engines embrace carbon neutrality
Toyota is making a significant stride in engine technology with plans to develop smaller engines capable of running on carbon-neutral fuels. This move marks a strategic move by the world’s largest carmaker amid the industry’s transition away from traditional internal combustion engines. Read More
4. NHTSA urges immediate halt in driving older Nissan vehicles due to Takata airbag risks
The U.S. National Highway Traffic Safety Administration (NHTSA) announced yesterday that owners of nearly 84,000 older Nissan vehicles in the United States equipped with recalled, unrepaired Takata airbags should immediately stop driving them due to a significant safety hazard. This urgent warning follows a similar advisory from Nissan concerning specific models from 2002 to 2006. Read More
5. Cox Automotive forecasts improved May new-vehicle sales driven by increased inventory/incentives
Cox Automotive anticipates a positive trend in May’s new-vehicle sales compared to last year, buoyed by significantly higher inventory levels leading to more attractive incentives. However, despite this optimism, challenges in vehicle affordability persist. These are influenced by factors like elevated new-vehicle prices and high interest rates, contributing to monthly loan payments exceeding $750 on average. Read More
6. Volkswagen targets 2027 for launch of affordable EV
Volkswagen aims to debut its new low-cost electric vehicles (EVs) in 2027, priced around $21,800, positioning itself competitively in the growing market for budget-friendly EVs. This strategic move follows Volkswagen’s decision to end its partnership with Renault to develop an entry-level EV, opting instead to proceed independently. Read More
7. Autotrader announces best cars for 2024 college graduates
As the class of 2024 graduates and embarks on their next adventure, many will be looking for new vehicles to accompany them. Autotrader, a Cox Automotive subsidiary, has released its list of the Best Cars for Recent College Graduates for 2024 after thoroughly analyzing the automotive landscape. Read More
8. How dealers can navigate non-compete agreements amid political uncertainty – Attorney Len Bellavia
The FTC has banned almost all non-compete agreements, so on today’s episode of Inside Automotive, we’re learning more about how dealers may be impacted. We’re pleased to welcome back Len Bellavia, Founding Partner of the law firm of Bellavia Blatt, also known as DealerLaw.com. Watch the full segment here.
9. Market Rebounds: Signs of normalcy as buyers return amidst growing inventory – Joseph Yoon | Edmunds
Affordability has been a major concern for dealers and consumers. In today’s episode of CBT Now, we’ll learn how the market performed in the first quarter, especially in relation to used vehicles. Joining us is Joseph Yoon, Edmunds‘ Consumer Insights Analyst. Watch the full segment here.
10. Navigating the roller coaster: Nate Myers on surviving the volatile automotive market
In a market as unpredictable as a roller coaster ride, automotive professionals must continually adapt to survive. However, used vehicles are on the rise. Nate Myers, Used Car Director of SONS Automotive Group, joins us on today’s episode of Inside Automotive and discusses strategies and trends he’s seeing with used cars. Watch the full segment here.
