Car Dealership Guy

[NEWS] Tensions between Stellantis and the UAW have escalated: Stellantis has filed a lawsuit against the UAW after the union authorized a potential strike at the automaker’s Los Angeles Parts Distribution Center. But it’s just the tip of the iceberg. The dispute dates back to Stellantis’ commitment to invest $1.5 billion in its Belvidere, Illinois plant as part of a larger $19 billion investment plan to build new trucks by 2027. Now, the UAW is accusing Stellantis of going back on that promise. Stellantis, on the other hand, says that the investment was always dependent on market conditions—and with demand for EVs slipping, they’ve had to adjust. But The union isn’t buying it. According to the UAW, Stellantis has only invested 2% of what it promised nationwide and is using market shifts as an excuse to stall future spending. Bottom line: A strike at the L.A. facility could spark walkouts at Stellantis plants nationwide — putting billions in revenue and future investments on the line. Read today’s top automotive stories, presented by Edmunds: https://lnkd.in/eF83DJPY (Data source: Stellantis via Reuters and UAW)

Over $100K/year is now the standard across many roles in Automotive: Dealership Controller Business Development Mgr General Manager ($200K+) Used Vehicle Buyer Regional Sales Mgr (vendor-side) See for yourself on my automotive job board: https://lnkd.in/e8KBRmSe

[NEWS] How Georgia is defying the so-called EV slowdown: While brands like GM and Ford scale back EV plans, others are still ramping up investments. And a lot of them are going to Georgia. Both Hyundai and Kia have started making EVs in the state this year. Meanwhile, Rivian is looking to resume construction on its $5 billion facility in Walton County, applying for a whole new federal loan. But, why Georgia specifically? For one, the state is aggressive with incentives, handing Hyundai $2.1B in subsidies and tax breaks for its newest site. Plus, its pro-business and tough-on-union policies make it an attractive landing spot. Allowing the state to stay ahead of other EV manufacturing hotspots like Tennessee and North Carolina. Bottom line: Georgia’s aggressive push to become an EV hub is paying off for now, but if more automakers shelve their plans, its position could be at risk. Read today’s top automotive stories, presented by Edmunds: https://lnkd.in/e5iRbtUS (Data source: Hyundai / Rivian / AJC)

[NEWS] Wholesale used vehicle prices edged down last month: Recently released data show prices dropped 0.1% MoM, reversing course from the steady increases seen over the summer. But prices are not falling as fast as many expected – indicating long-term depreciation is slowing. One reason? Fewer off-lease cars entering the market and a tight supply overall are keeping prices from sliding further. But there’s more to the story… Hurricane Helene’s aftermath could send demand for used vehicles soaring as affected residents replace their cars. Looking ahead: This increased demand, combined with existing supply constraints, could drive wholesale prices up for affected dealers in the near term. Read today’s top automotive stories, presented by Edmunds: https://lnkd.in/gxwtWZ4h (Data source: Cox Automotive)

For anyone interested in taking a peek behind the curtain… 👀

[DEEP DIVE] Volvo Cars is at a big turning point in the U.S.: Sales are down, and the company has cut its margin and revenue projections for the second time this year. One reason? Volvo bet huge on a growing EV market – but with adoption rates lagging behind expectations, those ambitions have been put on ice. In February, Volvo cut its stake in its EV affiliate, Polestar, from 48% to just 18%. And in September, it back tracked plans to go fully electric by 2030 – even though the automaker claims its “fully ready.” What’s more? Owned by China’s Geely, Volvo lost access to the federal EV tax credit. And the Biden administration’s quadrupled tariffs on Chinese-made EVs to 100% threw another wrench into its plans. That left the company scrambling to retool plans for European production, delaying the U.S. launch of a highly anticipated $35,000 SUV. Looking ahead — Volvo has a roadmap: It plans to launch 10 new or updated models by 2026, mixing new electric vehicles, refreshed designs, and hybrid versions of existing models. But the real challenge? Balancing its electrification goals with profitability. Volvo will need to reposition its vehicles smartly and find a way to stay competitive with American-made EVs— Especially with incentives now skewing heavily toward U.S. production. The big question? Can Volvo regain its footing and reassert its place as a leader in innovation while keeping its margins intact? Read today’s latest automotive insights, presented by CDG Recruiting: https://lnkd.in/gSe-mH-4 (Data source: Volvo via Reuters / The Verge / InsideEVs)

[CATCH UP] Top 5 auto industry stories from the week: 1. New car buyers are walking a financial tightrope According to Edmunds’ Q3 data, elevated interest rates, fewer low financing deals, and longer loan terms are making it harder to afford a new vehicle. 2. How long will the off-lease shortfall squeeze used car supply? Fewer lease returns mean fewer low-mileage used cars for dealers, keeping wholesale prices sticky and making it harder to find quality inventory. 3. Automakers bet on plug-in hybrids—but consumers aren’t convinced: study According to J.D. Power, PHEVs made up just 1.9% of total vehicle sales through Aug.—lagging far behind BEVs (9.4%) and traditional hybrids (10.7%). 4. Port workers reach and deal after brief but tense strike The tentative agreement will boost wages by $4 annually for six years, but final approval in January and unresolved issues like automation could bring more disruptions. 5. Q3 auto sales: Winners and losers Overall vehicle sales dipped in Q3 in the U.S., but a surge in demand for electrified vehicles (EVs, HEVs, and alternative fuels) kept many automakers steady. Read the breakdown here, together with CDG Jobs: https://lnkd.in/g9s-kMNc

What's the real secret to turning around an underperforming dealership? Raul Gomila, GM at City KIA, say's it all comes down to strict ethics— winning the right way is black and white, with no gray areas in-between. Here’s how he got his whole team to buy in:

[DEEP DIVE] Rivian could be the next Tesla – but it has a long ways to go: It’s hard to believe the company began 15 years ago with visions of being a hybrid coupe brand. Today, it’s all about rugged electric pickups and SUVs. In fact, after its debut, the $45,000 mid-size R2 SUV got over 68,000 reservations in just 24 hours. But Rivian has also been dealing with slower than expected EV demand and manufacturing chain challenges. Right now, the EV maker is roughly 4,500 deliveries behind last year’s pace and reporting $1B+ losses each quarter. On top of that, stock prices currently sit at over 80% below its IPO price of $78. To turn things around, Rivian’s honing in on efficiency. The company is revamping its Illinois plant to cut material costs by 35% on its delivery vans. It’s also consolidating production of the R2 in Illinois and temporarily stopping construction of a plant in Georgia —a move that could save $2.25 billion. But the biggest shot in the arm for Rivian? A game-changing partnership with Volkswagen, including a $5B investment. With VW’s help, Rivian aims to introduce more cost-efficient models and strategic operations. Sure, all startups have some growing pains but it’s getting down to crunch time for Rivian. Can its partnership with VW and promises of lower cost models really give Rivian the boost it needs? Read today’s latest automotive insights, presented by CDG Recruiting, a Car Dealership Guy Company: https://lnkd.in/gavqUzQG (Data source: Rivian / Bloomberg / The Motley Fool)

EVs vs. hybrids: What’s the ACTUAL future of decarbonization look like? Toyota’s stance- EVs are only part of the solution. So what else is in play? Holman Strategic Ventures CEO, Bill Cariss dives into where the market’s really heading (and when):