Earlier this week: Trump’s return to the White House signaled a major shift in EV policy, trade, and economic direction. Bernie Moreno’s win in Ohio paves the way for Trump’s labor policy changes. UAW faces a setback in Trump’s victory, undermining efforts to rebuild political influence. Stellantis will lay off 1,100 workers at Ohio Jeep plant amid sales struggles. A study found new car prices surged to record highs, leaving used cars as the affordable choice. GM celebrates veterans with a $1,000 incentive on EVs for Veterans Day. CBT News celebrates the 2024 40 Under 40 award winners. AutoNation surprises Onco-Ballet Foundation with a $25,000 donation to support cancer survivors.
Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.
1. Trump’s White House return signals major shift in EV policy, trade, and economic direction
In a historic political comeback, former President Donald Trump decisively defeated Vice President Kamala Harris to secure another term in the White House, returning to office for the first time since losing in 2020. Trump’s victory will significantly alter the nation’s economic, trade, and automotive policy, particularly concerning electric vehicle (EV) regulations and foreign trade. Read More
2. Bernie Moreno’s win in Ohio paves the way for Trump’s labor policy changes
Donald Trump’s 2024 presidential comeback is sending ripples through the political and automotive worlds, with major implications for car dealers, labor unions, and industry regulations. The Republican victory not only secured Trump’s return to office but also handed the GOP a Senate majority, bolstered by significant wins in Ohio and West Virginia.
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3. UAW faces setback in Trump’s victory, undermining efforts to rebuild political influence
Donald Trump’s victory in the 2024 election has dealt a significant blow to UAW President Shawn Fain’s efforts to rebuild the union’s political influence. Despite an aggressive campaign to support Vice President Kamala Harris, the union’s influence fell short, particularly among its members, who were divided in their political leanings. The defeat raises questions about Fain’s political sway within the membership and the effectiveness of the union’s efforts. Read More
4. Stellantis will lay off 1,100 workers at Ohio Jeep plant amid sales struggles
Stellantis has announced it will cut one production shift and lay off approximately 1,100 workers at its Toledo South Assembly Plant in Ohio. This decision aims to align manufacturing output with decreased demand for the Jeep Gladiator pickup truck and is part of a broader strategy to manage high inventory levels and reduced earnings during a challenging year. Read More
5. Study found new car prices surged to record highs, leaving used cars as the affordable choice
As the price gap between new and used vehicles reaches an unprecedented level, many consumers are feeling the tension of escalating costs in the automotive market. A recent study by Edmunds revealed that in the third quarter of 2024, the average new car cost $47,542—$20,365 more than the average used car, which sold for $27,177. Read More
6. GM celebrates veterans with $1,000 incentive on EVs for Veterans Day
In honor of Veterans Day, General Motors (GM) is launching a new incentive to encourage military personnel to transition to electric vehicles. Throughout November 2024, veterans can take advantage of a $1,000 discount on select electric models from GM’s Chevy, Cadillac, and GMC brands. This initiative underscores GM’s commitment to supporting those who have served while promoting its expanding lineup of electric vehicles. Read More
7. CBT News celebrates the 2024 40 Under 40 award winners
CBT News, the dealer community’s No. 1 resource for in-depth interviews and news coverage, is pleased to announce the honorees of this year’s 40 Under 40 awards, which recognize excellence and success in today’s retail automotive professionals. Read More
8. Colin Carrasquillo’s guide to enhancing dealership performance via targeted marketing
In a hyper-competitive automotive sales environment, the power of first-party data cannot be overstated. Colin Carrasquillo, Digital Marketing Director of the Nielsen Automotive Group, dives deep into the essentials of managing, cleaning, and activating this valuable data for optimal marketing outcomes. In this episode of Marketing Matters, Carrasquillo offers practical insights that help dealers refine their marketing strategies and reach more qualified customers. Watch the full segment here.
9. NADA, association leaders respond to Scout’s direct sales strategy: A call to action for dealers
In a critical discussion on Inside Automotive, Mike Stanton, CEO and President of NADA, and John Devlin, President of the Pennsylvania Automotive Association and the Automotive Trade Association Executives’ 2024 Chairman, address the implications of Volkswagen’s Scout Motors deciding to sell vehicles directly to consumers. This controversial move raises significant concerns for existing dealerships and the franchise model, prompting NADA and state associations to prepare for a robust response. Watch the full segment here.
10. Five essential strategies for F&I success with Adam Marburger
In this enlightening episode of Training Camp, host Adam Marburger draws on his experiences as both a Brazilian jiu-jitsu black belt and an F&I expert to share invaluable insights for automotive professionals. Marburger emphasizes the importance of private training—what he calls “sharpening your blade”—and outlines five key takeaways that can help F&I managers enhance their skills and achieve greater success. Watch the full segment here.
