July new car sales forecast, Stellantis brands on the chopping block, car owner satisfaction improves

Hey everyone. Another solid week in the books and I want to kick things off today by saying thank you. Without your support, your perspectives on the auto industry, and your willingness to share inside scoops with yours truly…none of this would exist. Thanks for being a part of the CDG journey.

— CDG

1. New car sales poised to regain momentum in July

While dealerships are finally catching up on sales delayed by June's software outages, consumers are benefiting from increased inventory and better deals, including manufacturer discounts and lease options.

Yet, behind the scenes, dealers are grappling with thinner profit margins as competition intensifies and prices stabilize … Read more

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2. Stellantis considers shutting down unprofitable brands after first-half results

Automotive giant Stellantis is sputtering. In its first-half 2024 financial results the automaker took at 14% hit to revenue and saw net profit fall by 48%.

As consumers demand more value, Stellantis seems caught in neutral. Leading CEO Carlos Tavares to issue a ultimatum to unprofitable brands: “If they don't make money, we'll shut them down.” … 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. New car owner satisfaction makes surprise comeback after 2 years

New car owners are finally seeing improvements in vehicle quality, but the industry still has work to do.

After a 2-year slump in owner satisfaction, automakers have made strides in addressing design and quality issues, but infotainment continues to be an thorn in the side of car owners … Read more

• The majority of automaker executives in Kerrigan Advisors' 2024 Kerrigan OEM Survey said they believe their companies won't meet proposed EV sales goals.

• ChargePoint reaches milestone with 1 million charging ports now available globally.

• UAW withholds Harris endorsement as Chief Shawn Fain bashes Trump.

• On Oct. 7, a federal court will hold hearings that could determine what car dealers can charge.

• Toyota to build EV battery plant for Lexus cars.

Thanks for reading everyone.

— CDG