AI in auto lending, salespeople improve the car buying experience, automakers report Feb. U.S. sales

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— CDG

EV batteries cost 20% less year-over-year in 2024:

On top of that—by 2026—costs could drop another ~30%.

And since the battery is the most expensive component of an EV—

Analysts are predicting price parity between new EVs and gas-powered cars as battery costs continue to drop.

Bottom line: Cheaper batteries are a win for EV makers—now they just have to sell some hesitant buyers on the long-term math.

(Data/graph source: Bloomberg NEF / Recurrent)

1. Auto lenders turn to AI to cut loan processing costs and time

About 80% of new cars in the U.S. are financed—but every loan comes with 40 to 80 pages of paperwork that needs processing, verification, and compliance checks.

Driving the news: To cut time and costs, lenders are turning to AI, using automation to scan documents, verify identities, and analyze data at a scale humans can’t match.

For example—Upstart is expanding its AI-powered auto refinance systems, while Capital One’s new Chat Concierge helps dealerships handle financing questions and options.

But 55% of dealer finance teams are unsure—worried about job losses and reduced human oversight in loan approvals … (Go deeper: 3 min. read)

2. Dealership sales teams are earning higher marks from customers—survey

Car salespeople may finally be shedding some old stereotypes—at least according to a new CDK Global report.

• A survey of over 11,000 shoppers found more buyers now say salespeople use time efficiently, know their products well, and provide clear explanations.

• In 2024, 85% of shoppers called their salesperson consistently professional, up from 81% in 2022.

But skepticism remains—another report from Porch Group Media shows that 99% of shoppers still expect a hassle, and over half say they’d buy more often if the process were easier.

The upside? Dealerships that simplify the experience could see a 24% sales boost … (Go deeper: 3 min. read)

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3. Hyundai posts record February U.S. sales while Ford and Toyota slip

Hyundai hit another record February sales, with hybrids up 57% and EVs climbing 35%.

Kia and Genesis also posted strong gains—meanwhile—-Mazda and Subaru kept momentum, with Subaru marking its 31st straight month of growth.

But Ford struggled, with sales down nearly 9% and Lincoln plunging over 20%, while Toyota and Honda also saw declines … (Go deeper: 2 min. read)

• Dealer tells Fox Business ‘nobody is gonna buy’ trucks thanks to tariffs.

• All the EVs you can buy with 0% financing in March 2025.

• 2026 Cadillac Escalade IQL is a stretched version of the Standard IQ.

• Nearly every automaker is selling your data.

• Ben & Jerry’s goes EV with zero-emission Rivian scoopmobiles.

Thanks for reading everyone.

— CDG