F&I profits tumble, Hyundai's ambitious growth plan, most reliable used cars

Hey everyone. Chrysler’s lineup is a shadow of its former self.

And now, Frank B. Rhodes, Jr., Chrysler’s great-grandson, wants to take back the reins from Stellantis.

His plan? Still murky.

He’s talking hybrids, muscle cars, and affordable options—but specifics are thin.

What do you think? Can he drum up enough investment support?

— CDG

1. F&I profits tumble in Q2 across public dealer groups

Driving the news: Despite a surge during the pandemic, F&I profits for public dealership groups declined again in Q2,

Rising interest rates, economic uncertainty, and disruptions like the CDK Global cyberattack have taken their toll.

While the industry remains optimistic about future growth, the honeymoon period for F&I profits seems to be over … Read more

2. Hyundai bets on hybrid, hydrogen and AV tech in new strategy

Hyundai has unveiled an ambitious plan to increase global sales by 30% over the next six years.

But that’s just the beginning.

What’s happening: Hyundai is betting big on emerging technologies like hybrids, electric vehicles, and autonomous driving.

Will this strategy pay off, or is Hyundai overreaching? … Read more

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Here are some standouts for anyone looking for their next move.

• Ron Marhofer needs to fill three dealership positions including sales, BDC, and F&I.

• PureCars is hiring a (remote) regional manager of client experience.

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Looking to hire? Add your roles today—it’s 100% free.

3. Lexus and Toyota reign supreme in used car reliability

With new car prices sky-high, savvy shoppers are turning to used vehicles—and picking wisely is key.

Big picture: Consumer Reports just dropped its first reliability rankings for 5-to-10-year-old cars, with Lexus and Toyota leading the pack.

Meanwhile, brands like Tesla and Chrysler are struggling to keep up, thanks to issues with aging tech and costly repairs … Read more

• Polestar adds ex-VinFast chief as new CEO.

• Japanese automakers shutter factories ahead of dangerous typhoon.

• China's BYD profits jump in Q2, fueled by price cuts.

• Stellantis sued over emissions cheating allegations.

• Samsung SDI and GM finalize a deal to build a massive battery factory in the U.S.

Thanks for reading everyone.

— CDG