Major dealership M&A deals, Ford's Q2 results, SCOTUS showdown over key climate case

Hey everyone. Happy 4th of July — I hope you get some quality time in with friends and family while celebrating the good ol' US of A.

But don't worry, even though it's a holiday, we've got some awesome auto industry news lined up for you today. Plus, we just put out a killer podcast with industry rockstar Aaron Zeigler you won't want to miss.

Have fun today and be safe out there — you don’t want to end up like these folks.

— CDG

1. Morgan Auto Group acquires huge FL dealership, Lithia scoops up 2 stores in TN

Right now, many dealers have a bullish outlook on the car market and significant cash reserves to deploy in the M&A space, setting the stage for more high-value transactions.

Let’s take a closer look at 5 recent deals to get a pulse on what brands and regions saw meaningful movement in May and June … Read more

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2. Ford sales jump slightly on better truck, EV demand

Ford saw sales rise slightly over the second quarter, benefiting from higher truck demand and the continued growth of its hybrid and all-electric vehicles.

What this means: Q2 proved to be a stronger quarter for the car industry than many expected, with most automakers beating their prior-year number … Read more

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3. Possible SCOTUS case could upend emission targets, EV plans

Vehicle emissions continue to be a point of contention between lawmakers and car manufacturers, but that dynamic could be about to change.

The Supreme Court is weighing whether or not to hear a lawsuit led by petroleum refiner Valero Energy over California’s emission policies.

Why this matters: The government has long used a “carrot and stick” approach when it comes to climate change, implementing incentives and penalties to keep the auto industry on task … Read more

• Stellantis temporarily cuts production at two plants amid sales woes.

• Tesla launches ‘Military Purchase Program’ with $1,000 discount.

• There’s a rough road ahead for U.S. EV makers despite upbeat quarterly sales.

• Recalls are down in Q2, but the 2024 total rises past 14 million vehicles affected.

• NFL coach Antonio Pierce owes $28 million after dealerships' collapse.

Thanks for reading everyone.

— CDG