U.S. Energy Department Finalizes Loan for GM Battery Venture

The U.S. Energy Department finalized a $2.5 billion loan to a joint venture of General Motors Co. and LG Energy Solution for three lithium-ion battery cell manufacturing facilities.
https://www.fi-magazine.com/369578/u-s-energy-department-finalizes-loan-for-gm-battery-venture?utm_source=dlvr.it&utm_medium=blogger

AutoNation Picks Up Mobile Repair Service

RepairSmith acquisition boosts its offerings and opens up new customer opportunities.
https://www.fi-magazine.com/369585/autonation-picks-up-mobile-repair-service?utm_source=dlvr.it&utm_medium=blogger

DriveItAway Partnership Launches Subscriptions in Canada

Partners with Legacy Auto Credit in Ontario for app-based subscription-to-ownership program.
https://www.fi-magazine.com/369595/driveitaway-holdings-partnership-launches-subscriptions-in-canada?utm_source=dlvr.it&utm_medium=blogger

Why “Penny- Perfect” Payments Simply Don’t Cut It

The technology of today has far surpassed “penny-perfect,” and those competitors who understand this are cleaning up.
https://www.fi-magazine.com/369699/why-penny-perfect-payments-simply-dont-cut-it?utm_source=dlvr.it&utm_medium=blogger

Desking in a Rising Rate Environment

If a dealership is still buying Sharpies to complete paper Four Squares, you will probably find a higher percentage of packed payments or potentially discriminatory pricing.
https://www.fi-magazine.com/369701/desking-in-a-rising-rate-environment?utm_source=dlvr.it&utm_medium=blogger

Redwood Materials to Build S.C. Battery Manufacturing and Recycling Facility

The new facility will employ 1,500 people and produce enough cathode and anodes components to supply 1 million EVs annually.
https://www.fi-magazine.com/369597/redwood-materials-to-build-s-c-battery-manufacturing-and-recycling-facility?utm_source=dlvr.it&utm_medium=blogger

Stellantis Finance Unit Ramps Up

More and more dealers signing onto captive service.
https://www.fi-magazine.com/369633/stellantis-finance-unit-ramps-up?utm_source=dlvr.it&utm_medium=blogger

F&I Tip of the Week: Sharing New Information to Show Value

Join Brown and Brown Dealer Services' John Tabar, with this F&I Tip of the Week!
https://www.fi-magazine.com/368630/fi-tip-of-the-week-sharing-new-information-to-show-value?utm_source=dlvr.it&utm_medium=blogger

The Path of People: The Power of Empathy

If we provide the path through the process that our customers enjoy, expect, and hope for, they will trust us and listen to the insight we offer.
https://www.fi-magazine.com/369687/the-path-of-people-the-power-of-empathy?utm_source=dlvr.it&utm_medium=blogger

A Bottle of Water

Now at some point, we have all had a bottle of water. And for the most part, water is just water. When we need to or want to purchase a bottle, we have a general idea of what it should cost. If I was to purchase a case of water at Costco, what would that cost? On the other end of that spectrum, if I were to purchase a bottle of water at Disney World, what would that same bottle of water cost? The bottle of water has two very different price points and two very different value positions. https://www.elitefipartners.com/post/a-bottle-of-water?utm_source=dlvr.it&utm_medium=blogger
https://www.elitefipartners.com/post/a-bottle-of-water?utm_source=dlvr.it&utm_medium=blogger

New Index Shows EVs Have Gained Ground

But multiple obstacles stand in the way of widespread adoption.
https://www.fi-magazine.com/369634/new-index-shows-evs-have-gained-ground?utm_source=dlvr.it&utm_medium=blogger

EV Tax Credit Guidance Delayed

Controversial rules on battery component sourcing anticipated by carmakers.
https://www.fi-magazine.com/369642/ev-tax-credit-guidance-delayed?utm_source=dlvr.it&utm_medium=blogger

USPS to Electrify Much of Delivery Fleet

It will buy at least 66K EVs by 2028.
https://www.fi-magazine.com/369644/usps-to-electrify-much-of-delivery-fleet?utm_source=dlvr.it&utm_medium=blogger

Compliance Offering for Dealerships Released

Reynolds and Reynolds/Proton Dealership IT offer tools for compliance, security ahead of FTC Safeguards Rule deadline.
https://www.fi-magazine.com/369662/compliance-offering-for-dealerships-released?utm_source=dlvr.it&utm_medium=blogger

Security Ops Center Planned at Reynolds HQ

State-of-the art facility to enhance Proton Dealership IT’s cyber threat monitoring and response services.
https://www.fi-magazine.com/369668/security-ops-center-planned-at-reynolds-hq?utm_source=dlvr.it&utm_medium=blogger

Audi to Abandon ICE Vehicles

Joins growing list of carmakers embracing electrification.
https://www.fi-magazine.com/369664/audi-to-abandon-ice-vehicles?utm_source=dlvr.it&utm_medium=blogger

CarMax’s Bad Q3 Results Drag Down Industry

Used-car retailer grapples with waning demand in face of economic challenges.
https://www.fi-magazine.com/369666/carmaxs-bad-q3-results-drag-down-industry?utm_source=dlvr.it&utm_medium=blogger

Car Prices to Ease in 2023

Report shows used models in particular to fall as new-car inventory improves.
https://www.fi-magazine.com/369676/car-prices-to-ease-in-2023?utm_source=dlvr.it&utm_medium=blogger

Impacts of a Down Economy

It is not clear how current economic conditions will affect vehicle sales, auto lending and remarketing over the next 12 months.
https://www.fi-magazine.com/369670/impacts-of-a-down-economy?utm_source=dlvr.it&utm_medium=blogger

F&I Tip of the Week: Primary Responsibility

Join Brown & Brown Dealer Services' John Tabar, here with this F&I Tip of the Week.
https://www.fi-magazine.com/368673/fi-tip-of-the-week-primary-responsibility?utm_source=dlvr.it&utm_medium=blogger

Dealers Get December Gift of Good Business

Forecast shows rising sales, inventory, and good 2023 outlook.
https://www.fi-magazine.com/369653/dealers-getting-december-gift-of-good-business?utm_source=dlvr.it&utm_medium=blogger

Bloomberg Names Hyundai World’s 3rd-Biggest Carmaker

Data analysis puts South Korean brand’s volume above GM, other big players.
https://www.fi-magazine.com/369655/bloomberg-names-hyundai-worlds-3rd-biggest-carmaker?utm_source=dlvr.it&utm_medium=blogger

Black Book: Weekly Market Report

With the holidays approaching, auction lanes are following the trend of past weeks of being slow.
https://www.fi-magazine.com/369646/black-book-weekly-market-report-3?utm_source=dlvr.it&utm_medium=blogger

Auto Dealership Buy/Sell Stays Hot with Yet Another Record in 2022

According to Third Quarter 2022 Blue Sky Report® by Kerrigan Advisors, dealership buy/sells increase 25% YoY as auto retailers overcome economic headwinds to achieve a 205% increase in earnings compared to pre-pandemic averages.
https://www.fi-magazine.com/369648/auto-dealership-buy-sell-stays-hot-with-yet-another-record-in-2022?utm_source=dlvr.it&utm_medium=blogger

Honda Accord Touring Model to Include Android Automotive

The automaker’s top of the line Touring model Accord will come with “Google built-in” in 2023.
https://www.fi-magazine.com/369635/honda-accord-touring-model-to-include-android-automotive?utm_source=dlvr.it&utm_medium=blogger

Automaker Favors Varied Auto Lineup to All EVs

Toyota Motor Corp. President Akio Toyoda says there is a silent majority who question whether automakers should pursue electric vehicles exclusively.
https://www.fi-magazine.com/369636/automaker-favors-varied-auto-lineup-to-all-evs?utm_source=dlvr.it&utm_medium=blogger

N.C. Stores Bought From One of Top U.S. Groups

Hudson Automotive buys nine from Asbury.
https://www.fi-magazine.com/369598/n-c-stores-bought-from-one-of-top-u-s-groups?utm_source=dlvr.it&utm_medium=blogger

CPO Sales Up Year-Over-Year

The interest rate factor actually buoys them, Cox says.
https://www.fi-magazine.com/369612/cpo-sales-up-year-over-year?utm_source=dlvr.it&utm_medium=blogger

VW CFO Foresees Tighter New Year

Economic pressures expected to make 2023 even more challenging.
https://www.fi-magazine.com/369614/vw-cfo-foresees-tighter-new-year?utm_source=dlvr.it&utm_medium=blogger

KBB Announces Winners of 2023 Best Buy Awards

NASCAR Driver Toni Breidinger teams up with Kelley Blue Book to test top award winner.
https://www.fi-magazine.com/369616/kbb-announces-winners-of-2023-best-buy-awards?utm_source=dlvr.it&utm_medium=blogger

Lawmakers Seek Help to Prevent Crashes

Implore transportation secretary to work with carmakers to deploy connected-car technology.
https://www.fi-magazine.com/369624/lawmakers-seek-help-to-prevent-crashes?utm_source=dlvr.it&utm_medium=blogger

Texas Discretionary Allocation Suit Decided

Court rules that Hyundai’s discretionary allocations weren’t unreasonable.
https://www.fi-magazine.com/369625/texas-discretionary-allocation-suit-decided?utm_source=dlvr.it&utm_medium=blogger

ZeroSum Dealers’ Market First Report: 2022 Automotive Inventory Trends That Matter in 2023

From inventory and pricing trends to future predictions, this report provides everything auto dealers need to know to prepare for a successful year in 2023.
https://www.fi-magazine.com/369618/zerosum-dealers-market-first-report-2022-automotive-inventory-trends-that-matter?utm_source=dlvr.it&utm_medium=blogger

State of the Automotive Finance Market: Q3 2022

New Experian report finds average loan terms extend for new and used vehicle loans as interest rates rise.
https://www.fi-magazine.com/369620/state-of-the-automotive-finance-market-q3-2022?utm_source=dlvr.it&utm_medium=blogger

Used Vehicle Prices Drop as Other Costs Remain High

The most recent Consumer Price Index from the U.S. Bureau of Labor Statistics shows a slight but promising decline in used car prices.
https://www.fi-magazine.com/369601/used-vehicle-prices-drop-as-other-costs-remain-high?utm_source=dlvr.it&utm_medium=blogger

New Mazda SUV Part of Industry Electrification Trend

Details of CX-90 to be fully revealed in January.
https://www.fi-magazine.com/369603/new-mazda-suv-part-of-industry-electrification-trend?utm_source=dlvr.it&utm_medium=blogger

F-150 Lightning MotorTrend’s Truck of the Year

Magazine cites in part the model’s appeal to existing truck owners.
https://www.fi-magazine.com/369588/f-150-lightning-motortrends-truck-of-year?utm_source=dlvr.it&utm_medium=blogger

Black Book: Weekly Market Report

Sales rates continue to be less than ideal, with many buyers exercising caution for fear of loading up on inventory that does not turn quickly, especially when values are experiencing heavy declines week after week.
https://www.fi-magazine.com/369592/black-book-weekly-market-report-8?utm_source=dlvr.it&utm_medium=blogger

Inventory Rises Again in November

Most reporting carmakers have supply days in the double digits.
https://www.fi-magazine.com/369575/inventory-rises-again-in-november?utm_source=dlvr.it&utm_medium=blogger

Elite FI Partners Employee Spotlight | Rob Varney

Employee Spotlight Rob Varney https://www.elitefipartners.com/post/employee-spotlight-rob-varney?utm_source=dlvr.it&utm_medium=blogger
https://www.elitefipartners.com/post/employee-spotlight-rob-varney?utm_source=dlvr.it&utm_medium=blogger

Toyota to Adjust EV Strategy

The automaker plans to adjust its electric vehicle strategy and provide it to key suppliers early next year, report people close to the project.
https://www.fi-magazine.com/369577/toyota-to-adjust-ev-strategy?utm_source=dlvr.it&utm_medium=blogger

Baltimore-Area Dealerships Settle Discrimination Suit

EEOC alleged they fired female dispatcher over equal-pay complaint.
https://www.fi-magazine.com/369548/baltimore-area-dealerships-settle-discrimination-suit?utm_source=dlvr.it&utm_medium=blogger

Survey of Dealers Ranks Brands on Sentiment

Top five are familiar, especially with Honda’s return.
https://www.fi-magazine.com/369550/survey-of-dealers-ranks-brands-on-sentiment?utm_source=dlvr.it&utm_medium=blogger

More Auto Dealers See Market as Weak

U.S. auto dealers cite a poor economy, higher interest rates and low inventory as the reason why, finds the Cox Automotive Dealer Sentiment Index.
https://www.fi-magazine.com/369560/more-auto-dealers-see-market-as-weak?utm_source=dlvr.it&utm_medium=blogger

Toyota Sets Sights on Carbon Neutrality in Europe by 2040

Toyota maintains operations in Europe will be carbon neutral by 2040, at Toyota Motor Europe’s annual Kenshiki presentation in Brussels.
https://www.fi-magazine.com/369561/toyota-sets-sights-on-carbon-neutrality-in-europe-by-2040?utm_source=dlvr.it&utm_medium=blogger

Trade Dispute Decision Could Move More Auto Manufacturing to Canada, Mexico

Preliminary ruling would give countries more leeway in meeting duty-free threshold.
https://www.fi-magazine.com/369563/trade-dispute-decision-could-move-more-auto-manufacturing-to-canada-mexico?utm_source=dlvr.it&utm_medium=blogger

Ease-of-Purchase Survey Shows November Upticks

CDK score reflects progress as inventories rise, but still room for improvement.
https://www.fi-magazine.com/369567/ease-of-purchase-survey-shows-november-upticks?utm_source=dlvr.it&utm_medium=blogger

Reinsurance Check Up: What Are You Really Paying For?

Dealers need to protect themselves by understanding their statements, what they are paying out, and the services they are receiving.
https://www.fi-magazine.com/369553/reinsurance-check-up-what-are-you-really-paying-for?utm_source=dlvr.it&utm_medium=blogger

8 F&I Trends to Keep an Eye On

Industry veteran identifies trends that will spur F&I growth now and in the future.
https://www.fi-magazine.com/369555/8-fi-trends-to-keep-an-eye-on?utm_source=dlvr.it&utm_medium=blogger

Carvana’s Stock Plummets Amid Bankruptcy Fears

Creditors join together to negotiate with used-car retailer.
https://www.fi-magazine.com/369537/carvanas-stock-plummets-amid-bankruptcy-fears?utm_source=dlvr.it&utm_medium=blogger

NHTSA Probes Honda, Jeep and Ram Models

Involves reports of loss of power and braking.
https://www.fi-magazine.com/369539/nhtsa-probes-honda-jeep-and-ram-models?utm_source=dlvr.it&utm_medium=blogger

75% of Gen Z View Their Vehicle as a Third Space

Safety, comfort, and radio/audio rank highest as vehicle third space design priorities.
https://www.fi-magazine.com/369528/75-of-gen-z-view-their-vehicle-as-a-third-space?utm_source=dlvr.it&utm_medium=blogger