June auto sales forecast, Rivian secures big investment, recall alerts

Hey everyone. I just created a dedicated space on CDG News for comprehensive coverage of the CDK Global cyberattacks, including news articles, a special edition podcast, and dealership best practices + insights.

Click here to catch up on everything you need to know.

— CDG

1. U.S. car sales expected to hold steady in June, CDK outages create uncertainty

New vehicle sales are expected to remain relatively flat in June while still ending the second quarter on a high note, despite a last-minute disruption caused by the CDK Global cyberattack.

What this means: Car sales have risen slowly but steadily throughout 2024, benefitting from improved supply and the return of incentives. However, ongoing challenges with affordability continue to constrain demand, leading many to search for signs of a more significant improvement … Read more

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2. Rivian lands $5 billion investment from Volkswagen

Volkswagen Group (VW) has agreed to invest up to $5 billion in EV startup Rivian by 2026. The deal also involves creating a joint venture (JV) that will allow VW to use Rivian's software technology for its own EVs.

Why it matters: The deal is a big win for Rivian and shows that VW is committed to electrification despite having to play catch up … Read more

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3. Major recalls plague Ford, Tesla and Toyota

Hundreds of thousands of vehicles are being recalled as three major automakers tackle issues ranging from moderate to severe.

Bottom line: In a market where automakers must push out model after model to stay competitive, quantity often takes priority over quality. This trend appears to be more true than ever, with manufacturers spending millions on costly repairs … Read more

• The Tesla Model 3 is now cheaper to lease than a Toyota Camry.

• Allison Parliament, creator of Jeep ‘ducking' movement passes away.

• With a national election approaching, the U.S. auto industry enters a season of uncertainty.

• GM's Cruise names a new CEO as it works to relaunch its robotaxi service.

• China’s Ministry of Commerce said over the weekend it was launching consultations with the EU.

Thanks for reading everyone.

— CDG