EVs make their mark on fleets, dealerships give to charity, takeaways from Tesla's Q2 earnings

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1. Fleet operators take a shine to electric vehicles — study

Data from Cox Automotive reveals a new and somewhat surprising trend in the EV market. In Q1, 14% of fleet customers utilized EVs, exceeding the general market share of 8% for the same period.

EV successes in the fleet segment are fascinating to see, even if it’s still much too early to know if this reflects a broader trend … Read more

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2. 3 dealerships doing good for their communities in July

Did you know? The average car dealership donates $30,000 annually to charity according to the National Automobile Dealers Association. That's millions nationwide going towards worthy causes every single year.

Here are 3 dealer groups making a real difference in their communities this July … Read more

Everyone loves a summer sales event, and OPENLANE is cranking up the volume this month with DealerFest 2024, a week of deals, prizes and more in its digital wholesale marketplace.

OPENLANE is already known for offering exclusive inventory, lower fees, simple transactions and better outcomes. Now, they are headlining DealerFest by offering dealers 50% off all buy fees from July 22 - 28.

Want to learn more about DealerFest 2024 and the exciting line-up of offers? Head to openlane.com/dealerfest2024 for all of the details.

New to OPENLANE? Sign up now and receive:

• $350 buy fee credit

• Pay no sell fees until August 31

How’s that for an opening act?

3. Tesla's net-income slides 45% in Q2 despite modest sales gain

Tesla's Q2 results show a tale of two trends: sales remain steady at 444,000 units, but income dropped 45% year-over-year to $1.5 billion.

The big picture: While Tesla maintains its position as the leading EV maker, analysts are questioning their long-term strategy. Can they adapt to a changing market that prioritizes affordability? … Read more

• Volkswagen hopes new Scout EV pickup, SUV, and Rivian partnership will attract U.S. buyers

• Waymo will receive a $5 billion investment from its parent company Alphabet.

• Vehicle safety groups urge feds to preserve automatic braking rule.

• Two young professionals at Mohawk Chevrolet take mockumentary videos for a spin with great success.

• CrowdStrike outage caused ‘seizure’ for auto supply chain.

Thanks for reading everyone.

— CDG