Weekly roundup: Stellantis brings electric Fiat 500e to U.S., GM opens EV charging stations, Biden tightens EV rules

Earlier this week: Stellantis launched the Fiat 500e, marking its first EV foray in the U.S. GM’s collaboration with EVgo opened up new EV charging stations at Pilot Travel Centers. A recent study discussed the challenges facing the used EV market, highlighted by a significant sales slowdown. Additionally, the Biden Administration adjusted the latest EV regulations aimed at reducing Chinese influence in the U.S. EV market. Here’s a closer look at these top stories and more headlines to stay on top of this week in automotive industry news.

1. Stellantis brings back Fiat 500e, marking first EV entry in U.S. car market

Stellantis is relaunching the Fiat 500e in the U.S. car market, marking the first time the company has launched a fully electric vehicle in North America since its inception in the 2021 Fiat Chrysler and French PSA Group merger. The urban-friendly hatchback, last produced in 2019, is scheduled to launch in early 2023, with an initial price tag of $34,095. The 2024 Fiat 500e has an estimated range of 149 miles and is powered by a 42 kWh battery. Due to its limited size and power, the vehicle is not compatible with DC fast chargers. Read More

2. GM, EVgo open first of 2,000 EV charging stations at Pilot Travel Centers

On December 5, General Motors, along with its partners EVgo and Pilot Flying J travel centers, announced the opening of 17 EV charging stations as part of its “coast-to-coast EV charging network.” Currently, the charging stations are spread across 13 states and GM plans to bring the total number of stations to 25 before the end of the year. Over the next five years, GM, EVgo, and Pilot Flying J intend to build at least 2,000 EV charging stations, and by the end of 2024, the companies will add 200 more. The stations will be located at approximately 500 Pilot Flying J truck stops and managed by EV charging company EVgo. Read More

3. Report shows, EVs are the slowest selling section of the used vehicle market

There’s no doubt that the 2020 pandemic has caused a significant decline in vehicle pricing and sales times. On average, new and pre-owned vehicles are selling more slowly and for less money than in 2022. A recent iSeeCars analysis shows that the average price of used electric vehicles has decreased the most, falling 33.7%. In comparison, the overall average price of used cars was reduced by 5.1%, while the average price of a used hybrid vehicle declined by 9.6%. Meanwhile, EVs are the slowest-selling section of the pre-owned market, which reflects the overall decline in EV demand. Nevertheless, EVs take almost three times as long to sell as opposed to a year ago. Read More

4. Biden’s new EV regulations to limit China’s role in U.S. market

The Biden administration released electric vehicle tax credit regulations restricting Chinese imports. However, by reducing the number of vehicles that meet the $7,500 federal tax credit requirements, the regulations may impede the United States’ shift away from fossil fuels. The law defines “foreign entity of concern” as any business owned, controlled, or subject to the laws of North Korea, Russia, China, or Iran. The provision applies to any business from the mentioned countries, although its primary target is China. Read More

5. Used vehicle prices hit seasonal slump in November

Wholesale used vehicle prices declined in November as the auto industry entered its seasonal slump. According to Cox Automotive’s Manheim Used Vehicle Value Index, used vehicle prices declined 2.1% from October and 5.8% from November 2022. The pace at which car values depreciated varied between segments. Smaller passenger vehicles saw the most significant drop, falling 11.3% year-over-year. Meanwhile, pickups retained their value the most, with wholesale prices declining only 4.6%. Read More

6. How to ask well-crafted questions that positively influence buying decisions — Matt Easton

In business and in life, oftentimes what we ASK someone is far more powerful than what we TELL them. Matt Easton, founder of the Easton University sales coaching system, joins Jim Fitzpatrick on Inside Automotive to share a few of his “power questions” to help you have better conversations, get what you want, and succeed in business and life. Easton shares specific “power questions” that can drive a conversation forward, increase credibility, and uncover crucial information. Watch Here

7. U.S. Senate candidate Bernie Moreno on economic, social policies and electric vehicles

Welcome to another edition of the CBT News original series Inside Automotive. Today, we’re joined by United States Senate candidate and former dealer principal, Bernie Moreno. In 2005, Moreno invested all of his money to acquire his first car dealership, eventually building a group with 15 successful dealerships over 12 years. Embracing blockchain technology early in 2016, he also co-founded ChampTitles in 2018, a company revolutionizing title issuance, and successfully led it as Chairman before selling his stake. After a prosperous career in retail automotive, Moreno sold most of his business to dedicate himself to politics and preserving the American dream for future generations. Watch Here

8. Explaining the electrification slump, and the keys to spurring EV adoption — Mark LaNeve | Charge Enterprises

Stellantis, one of the world’s largest car manufacturers, recently announced a partnership with EV infrastructure company Charge Enterprises in an effort to supercharge the automaker’s electrification plans. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Mark LaNeve, former General Motors, Ford and Volvo executive and president of Charge Enterprises. As one of the industry’s leaders, LaNeve is a firm believer in the strength of the dealership franchise system and continues to advocate heavily for supporting local retailers. Watch Here

9. Honing your sales process for the new car market — Jim Ziegler

On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Jim Ziegler, retail automotive veteran, speaker, and president of Ziegler Super Systems. Ziegler has helped thousands of dealers, sales professionals, executives and managers across the industry boost profits and improve efficiency by providing in-depth training and sharing his immense knowledge of sales tactics and strategies. He is also the Dealers Choice Diamond Award Winner for Sales and Management Training. Now, he discusses his new book, “The Sales Managers’ Forum” in which he reveals the key steps to ensure your sales process is prepared for the changing automotive landscape. Watch Here