Big truck sales falter, OEM leadership hurdles, used car sales spike

Hey everyone. Don’t forget — if you like my daily roundups of the top automotive industry news, then you have to check out my latest Week-in-Review, where I take you deeper into the top 5 stories that impacted CDG readers the most.

Best part? It only takes 3 minutes.

— CDG

1. Big truck sales shrink along with car buyer budgets

Demand for full-size trucks has deteriorated in 2024 as affordability issues have pushed consumers to shop for cheaper options.

Why this matters: With their wide profit margins and historic popularity, big pickups have been an important part of most manufacturers’ lineups for years. Indicative of larger economic problems, weakening sales in the segment are not totally unexpected — here’s why … Read More

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2. Trust in OEM leadership: A look at Toyota, Stellantis and Tesla

Some automakers are facing a bit of an identity crisis as confusing decisions, scandals, and inconsistent sales have eroded trust in executive leadership.

Why this matters: Trust between a car manufacturer and its stakeholders, whether they be dealers, consumers, or investors, is critical to its success. While many brands have defended their positive public image, confidence in the most high-profile automakers is starting to wane, placing their future success in doubt … Read More

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3. Used car sales jump in May, inventory dips

After a mild tax refund season, sales of used vehicles increased by 15.9% month-over-month in May.

Why it matters: So far, in the first 5 months of 2024, used car prices have been lower than they were for the same period in 2023. This is primarily because new car inventory is creeping back up near the 3 million mark. The increase in new car supply is driving both new and used car prices down, but by how much? … Read More

• Elon Musk is claiming that Tesla’s Roadster “coming next year” will be able to fly.

• Larry Hinkle, who owned the world's largest Jeep dealership during the American Motors Corp. era passed away at 92.

• Auto industry insiders are skeptical that tariffs will be able to hold off Chinese imports for long.

• Android Automotive is gaining the updated Google Assistant redesign.

• With the purchase of Hollywood Kia, Morgan Auto Group owns 77 dealerships.

Thanks for reading everyone.

— CDG