LotLinx Weekly News Vol. 216: Feel the Need, The Need for Inventory…

FROM KELLEY BLUE BOOK: Dealers Paying More for Used Cars: What That Means for You

In the first half of May, dealers paid 12.1% more for the average used car than they did last year. The result is inevitable – buyers are seeing continuous price increases.

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FROM CAR AND DRIVER: Survey: EV Price, Range Anxiety, Infrastructure Keep Car Shoppers Away

While a survey found that a fraction of car shoppers hold reasons for EV skepticism, there is good news – most respondents just lack the knowledge to even consider EVs. The solution for dealers? Educate and inform. 

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FROM AUTOMOTIVE NEWS: Toyota, Honda, Hyundai, Kia, Subaru Sales Slump Again in May

Lots are remaining vacant as U.S. light-vehicle sales fell by double-digits for the third consecutive month. Hyundai faces its biggest decline since the start of the pandemic with a 34% drop in deliveries, while Toyota and Kia saw 27% and 28% declines respectively.

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FROM FORBES: Is Tesla Really Competing Against the Auto Industry – Or Oil and Gas?

The EV seller isn’t just trying to push the traditional auto industry toward sustainable energy products, it’s trying to dominate big oil’s market share, claiming “the future will be good for Earth.”

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