Car Dealership Guy

What’s happening with Stellantis is wild. They’ve priced themselves into a corner—and now dealers are stuck with 2023 models that nobody’s buying. The real question: Can Stellantis recover by 2025? Alan Haig of Haig Partners breaks it down:

This legacy brand is at a crossroads: About a year ago, I called out why car buyers and dealers were losing trust in Ford. Spoiler: Those issues haven’t gone away—and a few new ones are keeping the heat on the Blue Oval. But there are signs Ford could still turn things around… the big question is when? Here’s what I’m seeing and hearing from dealers: They’re stuck with inventory they can't move—especially EVs. Meanwhile, small-town dealers say they're barely getting allocations of the models people actually want. And those incentives? Mostly tied to finance rates and leasing. Cash rebates? Forget it. These high sticker prices aren’t budging—making it tough to sell. And while Ford has teased a four-door Mustang, don't expect a return to traditional sedans anytime soon. Zoom out: With buyers tightening their belts, Ford’s sedan exit hands the advantage to brands Honda, Hyundai, and VW. Then there’s the recall problem. Ford led the pack in Q2 2024, with over 1.3 million vehicles impacted. What’s going wrong? My guess is lousy quality control and sub-par supplier parts. And dealers say it’s hurting their reputations—once-loyal customers are looking elsewhere. June threw another curveball—Ford dropped its EV certification requirements. In 2022, dealers had to sink $500K to $1M (and sometimes more) to sell EVs. Now? Anyone can sell them. Many who invested big feel abandoned, with pricey chargers gathering dust. One dealer shared his frustration: new EVs aren't selling, and Ford’s not offering any help to recover his investments. Relationships are strained, to say the least… But Ford’s not out of the game. They've got strong contenders like the Maverick pickup, Bronco SUV, and a promising new Mustang. Plus, they’re pivoting to hybrids and easing up on the EV push, showing they’re listening to current market signals. Bottom line: Ford has the tools to bounce back— But they need to fix things fast with dealers and consumers. If they can leverage their global platforms and tighten their strategy, there's still a shot they'll come out on top. Read the breakdown here, together with Auto Hauler Exchange https://lnkd.in/eCa_HYya

The biggest winners from Labor Day Weekend car sales: 1. Ford F-150 2. Jeep Grand Cherokee 3. Subaru Crosstrek 4. Chevy Silverado 1500 5. Honda CRV Interestingly… none of these models made it on my list of biggest deals for the weekend. Any surprises? Sales data from Fullpath - learn more about Fullpath here: bit.ly/3UwCmwj *Tesla not included for lack of data* #fullpathpartner

SCOOP: Massive win for New York dealers: NY Gov. Kathy Hochul just signed a new law requiring automakers to cover ALL warranty repair costs. Now – automakers must pay dealers based on actual retail labor time. But that's not all... The bill also forces manufacturers to cover diagnostics, and they can't deny warranty claims simply because they're out of parts… What’s more? This law could benefit NY dealers in many ways: 1. Boosting technician employment 2. Better pay for warranty work 3. Reclaiming market share from aftermarket shops The big question is – will other states follow New York’s lead? Read today’s top automotive stories, presented by OPENLANE US: https://lnkd.in/ge9R7NyH (CDG News Exclusive)

[NEWS] Toyota snaps its 2-month losing streak: Toyota sold 198,708 units in the U.S., increasing 1.9% YoY. So what’s driving the uptick? Lexus. Sales for the luxury brand surged 25%, marking nearly 20 consecutive months of gains. On top of that, more eco-friendly vehicles (mostly hybrids) now make up almost half of Toyota’s total U.S. sales. Bottom line: Hybrids are having an enormous impact on Toyota, but as more of these models come to market, competition will only get hotter… Read today’s top automotive stories, presented by OPENLANE US https://lnkd.in/esMPaXYS (Data source: Toyota and Bloomberg)

Are *nostalgic* cars recession proof? Generally, the higher the price tag, the more insulated the market—fewer loans, more cash buyers. Exotics? Fairly recession-resistant But what about a 2000 Acura Type R or a ‘95 Cobra Convertible with just 12 miles? Here’s what Andrew Glaser of Vantage Auto discovered:

[NEWS] Volkswagen cars just got a whole lot smarter: VW is launching an enhanced ChatGPT-enabled voice assistant in select models this week. What’s changed? Drivers can now have more “human-like” conversations with the A.I. “to express themselves more vividly,” VW says. It’ll be interesting to see if drivers actually use it. VW’s past tech hasn’t always been well received, but this A.I. upgrade could give them an edge. Read today’s top automotive stories, presented by OPENLANE US: https://lnkd.in/ePaHBHPr (Data source: Volkswagen)

[NEWS] Auto loan rates are cooling off: Forecasts show new car loan rates averaged 6.9% in August, down from 7.2% last year. But here's the catch: Avg. monthly payments hit $729, up $4 YoY. One reason? Used car retail prices dropped 4.5% to $27,999, shrinking trade-in values by $1,433 against last year. The good news: More vehicles are hitting dealership lots, pushing new car prices down to $44,039. Still nowhere near pre-pandemic levels but a relief for car buyers nonetheless. The Fed has all but guaranteed to cut interest rates in its Sept. 17-18 meeting. But how much? Only four brokerages predict a 50-basis-point cut, while nine bet on a smaller 25-basis-point cut. Will this move finally give car buyers the break they need? We’ll have to wait and see. Read today’s top automotive stories, presented by OPENLANE US: https://lnkd.in/gF3zNJcw (Data sources: J.D. Power / Reuters)

This dealer is making millions off nostalgia: Andrew Glaser is the # 1 seller of interesting, odd, and weird cars in the U.S. Recently, I spoke with Andrew, Founder of Vantage Auto, about the art of selling the past and what it truly means to “own your niche.” Top takeaways: 1. Getting started. – How Andrew became one of the go-to sources for unique classic cars in the U.S. – Shifting from wholesale to retail during COVID and doubling down on inventory. 2. Getting creative with sourcing. – Building a reputation for fair deals. – Leveraging a nationwide buying team of expert scouts. – Why high cost, but rare finds set his auto group apart. 3. Go digital or go home. – How Andrew sold 1,400 cars on Bring a Trailer. – The keys to avoiding depreciation traps. – The power of a dedicated online community. 4. Know your audience. – Many buyers in their 30s to 50s are looking for 1980s-2000s “modern classics.” – How Andrew is capitalizing on the “cool factor” from decades ago. 5. Make marketing personal. – Ditching fancy ads— and why viral personal posts drive sales. – Keeps it authentic and simple—because “the cars are the stars.” The full episode is live! Stream it now: Apple Podcasts: https://lnkd.in/ewENj6TY Spotify: https://lnkd.in/ebHabEn8 YouTube: https://lnkd.in/ezs_wJ2D

[NEWS] A BMW recall is raising eyebrows: Over 140,000 Mini Cooper SE models built between 2020 –2024 (worldwide) have faulty battery components, says the NHTSA. Basically, the battery could short-circuit and catch fire—even when parked. (!) While only 12,535 of these vehicles are in North America, the news comes just after the U.S. Department of Transportation held a meeting on EV fire risks. Turns out – EV fires can take up to 90 minutes to put out — 3x times longer than gas cars (ICEs). But — Many analysts agree that EVs are actually way less likely to catch fire than ICEs. Still, that’s no reason to ignore the issue. The good news? A free software update performed at the dealership should solve the problem. Read today’s top automotive stories, presented by OPENLANE US https://lnkd.in/ea5Rv3g7 (Data source: NHTSA)