CBT Automotive News Bulletin: August 18, 2022

Inside cars:

How car dealers are adapting to changes in new car buying behavior
In the past few years, new and used car dealerships across the United States have recognized the need for digital transformation, and as a result, customer satisfaction and dealer productivity have soared. But with soaring inflation and still having limited stock of cars, how are dealers reacting to a market that is now driven by the three electronic factors: economy, electricity, and e-commerce? Today at Inside Automotive, we hear firsthand from those on the front lines of auto retail, including Robin Santiago, general manager of Nalley Lexus at Roswell, Brandon Apon, general manager of Mazda Georgia Mall, and Lori Wittman, head of retail solutions for Roswell. Cox Automotive. Watch the full clip to here.

headlines:

Yesterday, the Biden administration said that about 20 models of electric cars will qualify for tax credits of up to $ 7,500 through the end of this year. The Inflation Control Act, signed Tuesday, will immediately end credits for about 70% of the 72 models that were previously eligible, according to the Alliance for Automotive Innovations. The law requires electric vehicle assembly in North America to qualify for tax credits, with additional provisions effective January 1, 2023. Buyers with binding written contracts prior to signing the invoice can still access the credits. Read more

According to the findings of a recent study by J.D. Power, electric vehicle owners are struggling to find suitable and operable charging stations, especially in high-volume electric vehicle markets such as California, Texas and Washington. The study says the growth in electric vehicle sales over the past year has increased pressure on public vehicle charging infrastructure. The study measures electric vehicle owners’ satisfaction with both Level 2 charging stations and DC fast charging stations. Tesla ranked highest among tier 2 charging stations, Volta came in second, and ChargePoint ranked third. Tesla’s supercharger ranked highest among DC fast chargers, and is the only brand to rank above the industry average. read marepeat

Dodge unveiled the brand’s first electric vehicle under new owner Stylantis Tuesday night at an event in Pontiac, Michigan. The car, called the Hornet R/T, will be a plug-in hybrid crossover with a starting price of about $40,000. Dodge CEO Tim Kuniskis declined to discuss the electric vehicle sales outlook, but said, “We think the potential is huge as this segment grows.” The news came a day after Dodge announced that it will stop production of the gas-powered Charger and Challenge models by the end of next year. Read more

Ford Motor Company sells green bonds as a way to take advantage of the rising credit market. The automaker has sold $1.75 billion in debt expected to mature within 10 years, according to a source. Fitch Ratings has assigned the bond a BB+ rating with a positive outlook. The sale of the new debt is part of the company’s green strategy, which includes spending $50 billion to build two million electric vehicles annually by 2026. The company will use the proceeds to help fund clean transportation projects and a battery-powered electric vehicle portfolio. Read more

News and opinion:

electrical
Image source: Society for Science

17-year-old invents a new electric motor that can reduce the costs of electric vehicles
Two years ago, 17-year-old Florida-based inventor Robert Sanson watched a video about the pros and cons of electric cars and saw that the materials needed to produce cars are made from rare materials, which can cost hundreds of dollars per kilogram. Sansone’s previous inventive pursuits and interest in motors inspired him to see if there was a more cost-effective way to power electric vehicles. the answer? synchronous reluctance motor. Sansone has determined that these engines may pose the need for rare earths due to the new design approach. Read more

electric vehiclesElectric vehicles are often praised for their lower operating costs, and daily fuel costs are cheaper. But what about the initial cost?
With Dodge heralding the end of an era, it’s the “last call” for the Charger and Challenger to switch to electric vehicles — whether customers really want them or not. Time will tell, of course, but it can be a long, hard and slow road. In fact, the government is forcing the industry to move towards electric cars while at the same time asking the rationale who can afford to buy them Unless it’s called a Tesla. Reuters says Less than 1% of the 250 million cars on the road are electric, and the plan is to get those drivers to switch to EVs by 2050. But, of course, with 14 million new cars sold annually and declining, you can do the math on how well that works. Read Mose


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