Oct. car sales forecast, Tesla Q3 earnings, Rivian denies scathing safety report

Hey everyone. In case you missed it — I had a great talk this week with Fede Ranero, CEO of Draiver, on the Car Dealership Podcast. Fede is doing some cutting-edge work with A.I., and in this episode, he shares his insights into the future of vehicle delivery.

You can stream the full episode now on YouTube, Spotify, or Apple.

— CDG

Public EV charging hit a new milestone:

As of Sept. there are now over 200,000 public EV charging ports (level 2 and DC fast) in the U.S. —

More than double since the start of 2021.

A meaningful jump – but many analysts say the public charging network still needs major work before it can support current (or future) EV demand.

(Data source: Joint Office of Energy and Transportation / Harvard Business School)

1. Oct. car market balances higher sales with shrinking margins

The U.S. car market is settling into a new phase, with rising inventories and bigger incentives offering more choices to consumers — but at a cost.

While discounts and lease deals are growing, higher interest rates are pushing monthly payments higher, limiting affordability.

Dealers are also seeing fewer cars sell above MSRP, squeezing margins and making it harder to stay profitable.

And as vehicles sit on lots longer, automakers and dealers must now manage the trade-off between moving inventory and protecting their bottom line … (Go deeper: 4 min. read)

2. Tesla earnings make strong recovery after Q3 sales gain

Tesla surprised the market with strong Q3 earnings, reversing a streak of declining profits. Revenue rose 8%, with net income up 17.3%, thanks to cost-cutting efforts and regulatory credit sales

But with competition heating up and its model lineup aging, Tesla faces increasing pressure to maintain its growth.

As the EV market becomes more crowded, all eyes are on Tesla’s ability to deliver on future promises — including its long-awaited “affordable” model … (Go deeper: 4 min. read)

In today's automotive landscape, car buyers invest more time than ever in researching, considering, and comparing options. But for dealers, the challenge lies in pinpointing the audience ready to make a purchase.

Enter Premier by Edmunds.

Premier offers dealers a groundbreaking way to connect with in-market car shoppers precisely when, where, and how they prefer. With over 20 million monthly visits, Edmunds.com is the go-to destination for buyers seeking market insights, expert advice, and budget tools to make informed decisions.

Through Edmunds Premier, dealers gain access to this highly coveted audience. Simply list your new and used inventory on Edmunds, and watch as qualified, in-market traffic flows directly to your vehicle detail pages on your website.

Don't miss out on this opportunity to elevate your dealership's visibility and sales performance. You can sign up for Premier today at Edmunds.com/CDG.

3. Rivian disputes Bloomberg’s scathing safety report

Rivian is pushing back hard against a Bloomberg report that paints a troubling picture of safety issues at its Normal, IL factory.

The report highlights serious allegations, including workers suffering cracked skulls and vomiting after exposure to paint without proper safety gear.

While Rivian acknowledged receiving OSHA citations, it criticized Bloomberg for misrepresenting the facts, noting that initial citations often get downgraded … (Go deeper: 3 min. read)

• Congress pushes back after Stellantis—Mexico confirmation.

• BMW U.S. boss bets on another record sales year despite Q3 slump.

• Fire takes out 55 Rivian EVs… cause unknown.

• Ford CEO Jim Farley loves his Chinese EV.

• Qualcomm Elite promises ‘step-change’ in SDV capability.

Thanks for reading everyone.

— CDG