Toyota bets on hybrid-first strategy, retail used car prices dip, car seats steer family purchases

Hey everyone. Having an EV dealer tell me EV mandates should end now was not on my bingo card… but here we are.

On today’s episode of the CDG Podcast, I speak with Alex Lawrence, CEO of EVAuto about his unique approach to selling EVs, what it takes to be one of America’s top 10 used EV dealerships, and decoding Elon to beat the market.

Stream it now.

— CDG

1. Toyota weighs hybrid only lineups after sales surge

Toyota is considering becoming the first automaker to phase out ICEs in favor of hybrids.

Big picture: With models like the Camry and Sienna already ditching their traditional engines, the automaker is evaluating each carline for a possible hybrid-only future.

While this doesn't mean an immediate embrace of full electrification, it signals a major strategic change for the world's largest automaker … Read more

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2. Used car prices continue to tumble from historic peak

After skyrocketing during the pandemic, used car prices have plummeted and continued to fall with a 2.3% month-over-month drop in July, driven by shifts in the new car market.

Between the lines: While this is good news for buyers, the market is still volatile. Wholesale prices actually ticked up in July, suggesting retail prices could rebound in the coming months.  

Despite the downward trend, other car-related costs are rising. Auto insurance premiums are up 15% already this year, offsetting some of the savings from cheaper used cars … Read more

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3. Car seat needs drive majority of parents’ car buying decisions

Car seat safety is now even more of a top priority for parents, driving SUVs to the forefront of family vehicle choices.

By the numbers: With over 60% of parents prioritizing car seat fit, SUVs with spacious interiors and advanced safety features are winning over buyers.

Dealerships that cater to car seat concerns can gain a competitive edge in a market where safety is non-negotiable … Read more

• Tesla’s missing Cybertruck is a problem for the EV revolution.

• AutoCanada considers selling U.S. stores, reports data breach and $24 million Q2 loss.

• EV and hybrid sales surged 21% last month despite sluggish demand in the E.U.

• Polestar to heavily expand North American retail network.

• Karma Automotive and Intel partner up for software-defined vehicles.

Thanks for reading everyone.

— CDG