Carvana's Q2 wins, hybrid sales maintain momentum, Japanese automakers partner up

Hey everyone. Today’s episode of the CDG podcast got me thinking…Are “A.I. employees” really a must-have for dealerships in the current market?

My guest, Eric Rea, CEO of Podium, dives into how A.I. chatbots are boosting sales and booking service appointments for dealerships all day, every day.

But there’s a catch — A.I. can’t do it alone. Stream the episode to find out why.

— CDG

1. What bankruptcy? Carvana defies downbeat car market with earnings jump

Carvana has made a stunning turnaround, with profits soaring and sales up 33%, defying all expectations of a company once near bankruptcy.

Driving the news: Q2 revenue has climbed to $3.41 billion, with net income hitting $48 million—a stark contrast to last year's losses.

What’s more: If Carvana meets its 2024 earnings target, it stands to earn 3x more this year, than last … Read more

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2. Hybrid cars are having a banner year

With a balanced inventory and fewer concerns than EVs, hybrids are winning car buyer loyalty.

Driving the news: Hybrids are now a top choice for drivers moving away from gas-powered cars, doubling sales and capturing 11% market share in Q1.

But are they a smart bet for the long term? These automakers seem to think so … 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. Honda, Nissan, Mitsubishi formally partner up on EVs, A.I. and more

A new pact including Mitsubishi, Nissan, and Honda aims to develop next-gen electric and software-defined vehicles.

Why it matters: With fierce competition both domestically and globally, sharing resources for EVs, securing components, and jointly developing software could be a game-changer … Read more

• The UAW endorses VP Kamala Harris for president over Trump.

• Hyundai recalls about 50,000 vehicles over electrical wiring faults.

• Ford Mustang Mach-E GT gains new performance upgrade to rival Tesla’s Model Y.

• How generative AI is boosting innovation for carmakers and drivers.

• China woes hit BMW as profit margin falls.

Thanks for reading everyone.

— CDG