Today's car buying realities, Chinese EV dilemma, Volvo suspends subscriptions

Hey everyone. Big week ahead —

I’ve got two insane Car Dealership Guy podcast episodes dropping this Tuesday and Thursday.

1) Buy Here Pay Here King: Secrets of Automotive's Most Controversial Business
2) The Story of Vince Sheehy: America's Most Interesting $2.5B Car Dealer!

Can't wait... Hope you enjoy 'em 😉

— CDG

Car buyers are finding a huge gap between their shopping expectations and what’s actually on the lot, according to a new Edmunds survey.

Driving the news: Nearly half of new car buyers are hoping to spend under $35,000, but with prices averaging over $47,000 and loan rates above 7%, that’s proving unrealistic for many. Used car shoppers aren’t faring much better, facing prices around $27,000 and interest rates at 11.3%.

Even as more inventory becomes available, the mismatch between what buyers want and what they can afford is leaving some considering extra work or side gigs to fund their next vehicle … Read more

Some China-made EVs will still be cheaper than their American counterparts even after the Biden Administration’s new tariffs take effect later this month.

Why it matters: The White House’s 100% tariff hike, set for Sept. 27, aims to address "unfair trade practices.” But even with the tariff, models like BYD Seagull — a $12,000 EV — would cost $24,000 — still way less than many U.S. options.

With average U.S. EV prices over $56,000, the tariff may not close the price gap as domestic manufacturers struggle to lower costs … Read more

Dealerships that sell vehicles across state lines know out-of-state titling and registration can be a headache. That’s why DLRdmv created DLR50 – The nation’s fastest-growing interstate titling platform.

DLRdmv understands the impact these deals can have on your business. With DLR50, your dealership now has 24/7 portal access to calculations, pre-filled forms, checklists, inquiries, plus white glove processing and specialist support, DLR50 is a game-changer.

You can even acquire duplicate titles in all 50 states directly through the DLR50 platform!

Out-of-state deals don’t have to be complicated! Let DLR50 simplify the entire process for you and your team.

Click Here to show us how DLR50 can help your dealership today!

DLRdmv – “The Dealer’s DMV”

Volvo quietly hit the brakes on its car subscription service, Care by Volvo, in the U.S. on Aug. 1 to focus on its core business and streamline operations.

Launched in 2017, the service offered a monthly package deal for car use, insurance, and maintenance to attract younger buyers, but it ran into trouble with high costs and pushback from dealers.

While it brought in new customers and turned a profit by 2020, issues like regulatory challenges and complicated logistics made it tough to keep going … Read more

Thanks for reading everyone.

— CDG