Dealership profits tumble, used car sales shoot up, EV registrations buck trend

Hey everyone. Hydrogen car owners in California are fed up.

With just 54 stations to fill up at (many out of service or empty), and prices soaring to $15 a gallon, some Toyota Mirai owners claim they were sold on convenience but got chaos instead.

Now, they’re suing — putting the future of hydrogen cars on even shakier ground.

— CDG

1. Dealership profits dropping fast despite stable revenue

Dealership profits have been on a downward trend throughout 2024, but some of the reasons might surprise you.

Despite stable sales and only a slight dip in overall revenue, dealer profits are down 33.4% year-over-year.

The real issue? Researchers say rising expenses are squeezing margins, and many dealerships haven't adjusted their spending to match the new reality … Read more

2. Used car sales rebound in July, inventory tightens

Driving the news: July’s used car market bounced back with a 27.6% sales surge, but inventory is tightening fast, leaving dealers with fewer affordable options to offer.

As cars under $15,000 become scarce and prices edge higher, the market’s recovery could face new obstacles.

The question now is whether dealers can adapt quickly enough to keep up with demand without alienating budget-conscious buyers … Read more

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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. EV registrations jump in June against industry-wide cooldown

EVs are quietly gaining ground, driven by attractive incentives that set them apart from the rest of the auto market.

What’s happening: In June, while overall vehicle registrations declined, EVs bucked the trend, with brands like Kia seeing tiple-digit growth thanks to strategic discounts.

But can automakers sustain this momentum as they challenge Tesla’s dominance? … Read more

• Ford recalls about 85,000 Explorer SUVs over engine fire risk.

• Autos Cadillac reveals new ‘Opulent Velocity’ performance EV concept.

• U.S. Transportation Department announces ambitious, high-tech roadway safety plan.

• Some Tesla customers complain they got dirty Cybertrucks.

• Porsche builds a third 993 Speedster 29 years after the first.

Thanks for reading everyone.

— CDG