Auto credit access rises, Chrysler pauses crossover EV, Biden finalizes ban on Chinese, Russian car tech

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Hey everyone. We’ve got tons of great jobs hitting the CDG Job Board right now:

• Ron Marhofer Auto Family: General Manager (Ohio).

• Foureyes: Customer Success Manager (remote).

• Edmunds: Account Executives (Wisconsin, Michigan, Arizona).

So, if you’re looking to hire or are on the job hunt, visit the CDG Job Board — it’s 100% free.

— CDG

1. Dec. sees slight credit access boost as auto loan rates decline

This past December saw the highest level of auto credit availability since March 2023. Month-over-month—credit unions led the charge in loosening requirements, and auto-focused finance companies followed suit.

Meanwhile, manufacturer-controlled captives (the direct financing arms of automakers) tightened their criteria the most.

For consumers—the picture is mixed but leaning positive.

Approval rates climbed, and the average auto loan rate dropped 23 basis points in December.

Yet—shorter loan terms, higher down payments, growing negative equity, and fewer subprime approvals are still causing some problems—but not enough to reverse the overall loosening trend … (Go deeper: 3 min. read)

2. Chrysler crossover EV "on hold," future of brand uncertain

Chrysler’s crossover EV project is reportedly on indefinite hold, raising questions about the brand’s future as it aims to become all-electric by 2028.

The Airflow concept, first unveiled in 2021, was set to be Chrysler’s flagship EV, but internal communications reveal that suppliers have been instructed to halt spending on the project.

With only the Pacifica minivan left in its lineup, Chrysler’s future looks increasingly uncertain, especially under the shadow of Stellantis’ broader challenges.

The parent company has faced declining sales, profit losses, and tough competition from Chinese automakers … (Go deeper: 3 min. read)

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3. Biden finalizes ban against smart cars from China and Russia

President Biden is closing out his term with sweeping measures targeting connected vehicles and AI development, aimed at bolstering U.S. manufacturing and addressing national security concerns.

• A ban on smart cars tied to China and Russia is being finalized, prohibiting imports, sales, and even individual components with links to those countries.

• The administration is also proposing to extend the ban to commercial vehicles like buses and trucks.

• At the same time, a new executive order seeks to supercharge AI infrastructure in the U.S., allowing companies to lease federal land for data centers and restricting chip sales to foreign data centers.

Biden frames the move as essential for economic competitiveness and national security, but its future under President-elect Trump is less than certain … (Go deeper: 2 min. read)

Bonus: The top 3 ways digital technology can boost your bottom line in 2025

Traditional titling processes are plagued by inefficiencies, manual errors, and high costs, frustrating customers and dragging down dealerships’ growth potential.

But cutting-edge digital technologies are simplifying workflows, reduce processing times, and boosting customer satisfaction—all while safeguarding compliance.

By embracing automation, dealerships can cut costs, speed up sales, and improve the overall customer experience.

And with digital titling quickly becoming the industry standard, staying competitive means modernizing—or falling behind… (Go deeper: 5 min. read)

• SEC accuses Elon Musk of cheating Twitter investors out of more than $150 million.

• Taiwan's Foxconn sets its sights on the ever more crowded EV market.

• Ford fills leadership gap in Europe.

• GM signs supply deal with Vianode for synthetic graphite for EV batteries.

• Honda is bringing back the Acura RSX in 2025 as an EV built in the U.S.

Thanks for reading everyone.

— CDG