Musk backs Trump, VinFast delays U.S. factory, IRS advises dealers on avoiding scams

Hey everyone. Heads up — the Car Dealership Guy podcast is back again tomorrow for another great conversation with top auto industry professionals. Jeremy Nowling, sales and digital retailing director at Rohrman Automotive Group, discusses why he has stayed with Rohrman for over 20 years, the importance of reinventing yourself, and how cutting-edge tech is changing the game.

— CDG

1. Musk endorses Trump for President after assassination attempt

Soon after the attempt to assassinate former President Donald Trump at a campaign rally in Butler County, Pennsylvania, Tesla CEO Elon Musk took to X to show his support for the GOP candidate – calling Trump "tough.” 

Why it matters: Musk often criticizes the Biden Administration on his X feed. He also regularly trolls Democrats when discussing contentious issues – a clear sign of disillusionment with the party he once supported … Read more

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2. EV startup VinFast officially delays U.S. factory launch

Vietnamese electric vehicle manufacturer VinFast is pushing back the launch of its U.S. factory to 2028, citing challenges in the global EV market.

Between the lines: The news comes just three months after the company promised investors it remained on track to open the facility in 2025, during its quarterly earnings call. Foreign automakers are heavily incentivized to build EV production campuses in the U.S., yet construction at the site had made little progress … Read more

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3. IRS warns car dealers of phishing blitz after data breach

In a post on its website, the IRS said it has seen a “barrage of email and text scams targeting businesses and individual taxpayers.”

Why this matters: This marks the latest sign of heightened awareness over automotive cybersecurity, following a ransomware attack on CDK Global and subsequent DMS outages for dealers. With the safety of both businesses and consumers on the line, it will take an industry-wide effort to address the rising threat … Read more

• Ford is considering investing $400 million into EV component production at its plant in Kentucky.

• A preliminary look at an annual report from Boston Consulting Group suggests BEVs will account for 50% of new car sales by 2030.

• Tesla has started offering an “energy boost” software unlock to recent buyers of the Model Y RWD.

• A July 8 court filing by UAW monitor Neil Barofsky revealed new evidence of infighting among the union's executive board.

• In light of the outage caused by the cyberattacks, CDK Global CEO Brian MacDonald is promising financial compensation for the losses that affected dealerships

Thanks for reading everyone.

— CDG