Car market further stabilizes, used EVs rev up, OEMs sell driver data for cheap

Hey everyone. Tomorrow’s guest on the Car Dealership Guy Podcast works for a company you might be familiar with…

Sanjiv Yajnik is President of Financial Services at Capital One, which includes overseeing the company's Auto Finance lines of business. Sanjiv has over 20 years with Capital One reimagining the entire car buying process.

Tune in tomorrow to find out where he thinks car ownership is headed.

— CDG

1. Car market stabilizes in first half of the year, used supply under pressure

After years of sky-high prices and limited inventory, the new car market is finally showing signs of stability. But as consumers adjust to this new reality, the demand for affordable used vehicles is surging, putting pressure on an already strained supply … Read more

Become an automotive insider in just 5 minutes.

Get the weekly email that delivers transparent insights into the car market.

Join 73,000 others now, it's free:

2. Used car market opens door to broader EV adoption

Once considered a luxury purchase, EVs are becoming increasingly affordable and, in some cases, rivaling their ICE counterparts.

What’s happening: New car prices are stabilizing, while the used EV market is experiencing a tick-up in supply (year-over-year), driving down costs. These trends are making it easier for consumers to transition to electric, potentially contributing to a mass market shift … Read more

The Auto Hauler Exchange has revolutionized the way vehicle haulers and vehicle shippers collaborate. AHX's B2B marketplace connects vehicle haulers directly to shippers in a frictionless manner.

The Exchange helps vehicle haulers maximize their capacity while limiting empty miles. The Exchange is the first true B2B marketplace of its kind in the vehicle logistics industry.

By connecting carriers and shippers directly, carriers can save time and choose which opportunities fit their needs each day.

At the same time, shippers can rest assured that their vehicles are being moved by qualified, vetted carriers who fit their vetting program.

The Auto Hauler Exchange has democratized the vehicle logistics industry by eliminating the middleman and connecting shippers directly to available carriers.

Get off the vehicle hauling roller coaster today with Auto Hauler Exchange.

3. Lawmakers expose low price of driver data after automaker probe

The big picture: Senators Edward J. Markey and Ron Wyden submitted a letter to the Federal Trade Commission (FTC) after conducting a short investigation into driving and location data sold by three automakers: Hyundai, General Motors, and Honda.

By the numbers: They found that the prices offered for the data were surprisingly low. Hyundai earned 61¢ per unit, while Honda only made 26¢ … Read more

• Toyota chairman warns he may lose board spot if investor support continues to fall.

• Ford, GM, and Stellantis face a daunting second half of 2024.

• Rivian sales chief and former Porsche exec Kjell Gruner resigns after 11 months.

• A former Tesla executive has confirmed a WSJ report on the Biden admin’s anti-Tesla bias.

• Nissan and Mitsubishi, look set to join a new commercial partnership with Honda on battery-electric vehicle production and software.

Thanks for reading everyone.

— CDG