Car Dealership Guy

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[NEWS] Toyota is sounding off on California-led EV ‘mandates’: Calling the targets “impossible,” Toyota’s North American COO, Jack Hollis, warns that these mandates could “limit consumer choice” in multiple states unless there’s a change. The challenge is — Starting next year, California wants 35% of 2026 models to be zero-emission… And it’s not just California. Over a dozen states, plus Washington D.C., are lining up to adopt similar rules by 2027. But with EV sales growth moderating — it’s looking like an uphill climb. Bottom line — Toyota’s hard stance could spark another look at what’s achievable on the road to zero emissions. Read today’s top automotive stories, presented by Edmunds: https://lnkd.in/e2m52SqS (Data source: CNBC)

[NEWS] General Motors is axing the Cadillac XT4: The reason? The automaker wants to make room for the re-launch of the Chevy Bolt EV, set to enter production at its Kansas factory in late 2025. But why now? XT4 sales have been sliding, with drops of 28% in Q4 2023 and 12% so far this year — And with GM targeting EV profitability, it makes sense to focus on its most popular electric model. But with a new administration starting next year — GM might be forced to change plans if tax credits and other incentives disappear… Read today’s top automotive stories, presented by Edmunds: https://lnkd.in/gGNT2zRV (Data source: Reuters)

Subprime auto loan stress is at all-time highs: The subprime 30-day delinquency rate is up 40% from pre-pandemic levels — Meanwhile… The 60-day delinquency rate has reached an all-time high. Is there any silver lining? Possibly. Interest rates are beginning to drop, and auto loan availability is expanding, which could bring some relief for subprime consumers. But nonetheless, these are unprecedented delinquency levels and something to monitor closely. (Data source: Bloomberg Research / Bill Ploog)

[NEWS] Top 5 auto industry stories from the week: 1. Drivers eye relief with possible auto loan refinancing A TransUnion survey shows 76% of respondents are considering refinancing, with over half saying they’d do so to save $50 - $149 monthly. 2. Dealer satisfaction jumps in 2024 on inventory, pricing improvements Dealers who met nine to 10 of the top 10 key performance indicators (KPIs) scored well-above average. 3. Wholesale car prices slide in Oct. as used retail sales accelerate Prices were down 1.9% from the previous month, marking the second straight month of declines after a summer rally. 4. What's really going on with EV depreciation? Used EV prices have declined roughly 42% since reaching their peak in July 2022 and are down 10% compared to January 2024. 5. Scout Motors reignites buzz around extended-range EVs Scout Motors is bringing extended-range electric vehicles (EREVs) back into the conversation with its new Traveler SUV and Terra pickup. Read the breakdown here, together with OPENLANE: https://lnkd.in/gfuM43WC

"Negotiations" may now be putting dealerships at risk. With top-tier talent scarce, Jack Ballinghoff of Ourisman Automotive Group believes standardizing processes could be more important than ever. Here's why dealers might need to pay attention. ? Stream the Car Dealership Guy Podcast now on your favorite platform.

Auto loan availability is heating up ??

It’s as if a dam has burst. Auto lenders have suddenly turned more aggressive. Post-election, three separate lenders approached a friend who’s the COO of a 40+ store dealer group … All three urging him to send more consumer applications—some even asking for applications that don’t fit traditional underwriting profiles.

As dealerships standardize, acquisition efforts may require a new focus. Ourisman Automotive Group's COO, Jack Ballinghoff, suggests targeting areas with less competition and fewer smart players. Here's how dealers can gain a competitive edge. ? Stream the Car Dealership Guy Podcast now on your favorite platform.

As recalls continue to rise, there may be growing opportunities for dealers. CEO of WarrCloud Inc. Jim Roche suggests that actively managing recalls can grow service revenue. Here's how dealers can maximize recall work and enhance their service departments. ? Stream the Car Dealership Guy Podcast now on your favorite platform. #WarrcloudPartner