New dealer outlook survey, Hyundai's EV share, auto loan access in May

Hey everyone. Many of you who have been with me from the jump, know that a lot of the CDG brand was built on transparent insights into the auto lending space. It’s a topic near and dear to my heart, which is why I’m stoked about today’s podcast guest.

Amitay Kalmar is the CEO of Lendbuzz, and we discuss why consumer financing is broken in the U.S., what it’s like handling 1.5B in auto loans, and much more. Check it out here.

— CDG

1. Dealer sentiment weakens on political tensions, interest rates

Car dealers feel more pessimistic about the market than they did at the start of the year, citing concerns over interest rates and a looming presidential election.

Why this matters: Dealer sentiments give insight into the frontline experience of the car business, establishing where the major pain points lie and shedding light on areas of uncertainty … Read more

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2. Hyundai conquers chunk of EV market

Hyundai Motor Group is swiftly becoming one of the top EV sellers in the U.S., occupying 11% of the eco-friendly market for the first time last month.

What this means: Not only is the brand putting major competitors to shame, but its EV lineup is performing remarkably well during a time of decelerated demand … Read more

Connecting world-class talent with top-notch companies in Automotive.

Great career opportunities are hard to find. We make it easier. Search through open roles or submit your resume confidentially on the CDG Jobs Board. Best part? It’s 100% free.

Here are some standouts for anyone looking for their next move.

• Want to work for one of the top dealer groups in the country? Rick Case Automotive Group is looking for a sales rep located near Sunrise, FL.

• Fixed operations your area of expertise? Subaru of Ft. Myers needs a service director with top-notch leadership skills.

• Looking to break into the SaaS world? Impel is seeking a Specialty Sales Manager and a Customer Success Manager.

3. Auto loan access tightens, but other factors ease the squeeze

Auto credit availability, a measure of how easy it is for consumers to get financing for car purchases, declined slightly in May for the second month in a row.

Why it matters: Although auto credit availability didn’t improve in May, there is a gradual return to affordability in some areas of the market … Read more

• General Motors said on Tuesday it will buy back outstanding shares worth $6 billion as part of a new stock repurchase plan.

• Despite strong rumors of an upcoming refresh, CEO Elon Musk confirmed that the automaker has no plans to launch an updated version of its popular Model Y.

• United Auto Workers President Shawn Fain is under investigation by an independent federal monitor over allegations of retaliation against other union leaders.

• Stellantis-owned Chrysler is recalling more than 211,000 SUVs and pickup trucks in the U.S., due to a software malfunction.

• Chinese domestic manufacturers are upping their automated-driving game as Elon Musk seeks the regulatory green light for advanced features.

Thanks for reading everyone.

— CDG