Interest rates squeeze buyers, Tesla deliveries continue YoY decline, GM's Q2 wins

Hey everyone. Huge podcast dropping tomorrow with the one and only Aaron Zeigler, President of Zeigler Automotive. After a hot streak of acquisitions over the past few years, Zeigler is pushing on with expansion efforts. The group recently acquired two Subaru stores and opened up a brand-new facility in Indiana. But what’s next? Find out tomorrow on the CDG podcast.

— CDG

1. Car prices dip, but interest rates keep buyers in park

Lately, car buying conditions have become more favorable in some areas. But, many consumers still feel the pinch when it comes to financing, according to Edmunds analysts. 

The intrigue: Rising inventory and incentives may not be enough to get sideline buyers off the bench. Stubbornly high interest rates are preventing many borrowers from benefiting from these conditions. Let’s face it, Americans don’t usually buy their cars with cash … Read more

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2. Tesla loses ground in Q2 as competitors' EV sales surge

While Tesla did outperform the last quarter, it failed to reverse the annual decline in demand.

By the numbers: Tesla delivered 443,956 vehicles and built 410,831 between April and June. The two numbers represent respective declines of roughly 4.8% and 14.4% compared to last year … Read more

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3. General Motors ekes out Q2 victory, held back by weaker fleet demand

General Motors posted its best quarterly sales numbers since late 2020, a noteworthy victory only slightly undermined by the meager year-over-year improvement across its portfolio.

But, the automaker is struggling in one key area: the fleet market. Production shutdowns heavily suppressed fleet demand throughout 2020 and 2021, forcing business customers to rely on aging units … Read more

• Former used-car retailer Vroom agrees to pay $1 million to settle FTC claims.

• China’s BYD is set to take Tesla’s crown as the world’s No. 1 producer of battery electric vehicles.

• Tesla starts pushing its third ‘one-time’ FSD transfer to boost Q3 demand.

• Group 1 adds 4 Mercedes stores in the U.K.

• VW recalls more than 84,000 SUVs and hatchbacks over backup cameras.

Thanks for reading everyone.

— CDG