Ram production grows in Mexico, Honda recalls 700K vehicles, Santander digital banking expands in U.S.

Hey everyone. In all my years in the automotive retail industry, I’ve learned that the one thing that separates the good dealer operators from the exceptional ones is…

The ability to obsessively pay attention to the small details. When you’re running a low-margin business — every basis-point counts.

— CDG

The electric vehicle (EV) market is getting crowded — fast:

According to the latest data, EV registrations surged 18% in Aug. YoY.

Tesla still firmly leads the segment with the top 3 most registered EVs (including the Cybertruck), but brands like Ford, Chevy, and Honda are slowly stealing market share.

Bottom line: The EV market is far from a one-horse race, and newer contenders are shaking things up.

(Data source: S&P Global Mobility)

1. Stellantis to build Ram 1500 pickup in Mexico despite outcry

Stellantis will start building some Ram 1500s in Mexico in 2025, despite pushback from the White House and the United Auto Workers (UAW) union.

Ram CEO Christine Feuell says the move will ease pressure on Sterling Heights, which is hitting production limits.

While the automaker denies it’s about cutting labor costs, leadership has hinted that cheaper production is part of the plan.

But the decision is frustrating the UAW, which hoped for more investment in U.S. plants, setting the stage for more tension ahead … (Go deeper: 4 min read)

2. Honda recalling 700,000 Accord, CR-V, Civics over fuel pump leaks

The recall covers recent models, including the 2023-2024 Accord, 2023-2025 CR-V Hybrid, and 2025 Civic.

Despite 145 warranty claims, no injuries have been reported, and as usual, dealers will replace faulty pumps at no cost to affected owners.

This follows a separate Oct. recall of 1.7 million vehicles over potential steering issues… (Go deeper: 2 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.

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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. Santander launches digital banking in the U.S. to reduce auto loan costs

Santander is launching Openbank in the U.S., unlocking access to up to $30 billion in auto loans. This move allows the lender to expand beyond its 409-branch network and serve customers nationwide for the first time.

By using deposits from Openbank, Santander aims to reduce reliance on higher-cost wholesale funding and improve profitability across its $60 billion U.S. auto loan portfolio.

With interest rates slowing vehicle purchases, the bank is positioning itself to capture demand as more consumers return to the market looking for affordable financing … (Go deeper: 2 min. read)

• Volvo Cars emphasizes resilience in its Q3 earnings report.

• Shift to electric vehicles will have far-reaching impact, IMF says.

• GM to shutter cold-weather testing grounds in Ontario, Canada.

• Here’s why China has been testing its autonomous car technology in the U.S. for years.

• Lithia Q3 net income dinged by acquisition costs.

Thanks for reading everyone.

— CDG