In recent news, the Biden Administration has finalized milder fuel economy rules for trucks and SUVs, which is expected to have a significant impact on the automotive industry and consumers. Meanwhile, General Motors (GM) is leveraging the Costco Auto Program to boost electric vehicle (EV) sales, despite market challenges. This partnership aims to increase accessibility to EVs for consumers.
However, not everything is rosy in the automotive industry as Stellantis is facing a recall of over 200,000 SUVs and trucks due to a stability control system malfunction. This recall highlights the importance of vehicle safety and the need for prompt resolutions.
On a brighter note, May has seen a decline in wholesale used-vehicle prices, reflecting seasonal trends and market fluctuations. The decline in prices could be an opportunity for dealers to buy low and sell high.
In addition to these developments, Ted Smith, President of the Florida Automobile Dealers Association (FADA), shares insights into their plans and initiatives to support dealers in an interview with FADA President discussing challenges and advocacy efforts for 2024-2025. Dealer state associations play a crucial role in advocating for their members amidst industry changes.
Pete MacInnis has introduced ‘Deal Maker’ on the latest episode of CBT Now to bridge the gap between dealers and consumers. The evolving auto finance landscape calls for innovative solutions to improve transparency and accuracy in car buying and financing. This platform aims to streamline the dealership process and enhance the overall customer experience.
