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Car prices freeze, EV sales soar, and the price of Tesla's new battery rises

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Serra Automotive plans to acquire Bill Marsh Auto Group later this year, making it one of the industry's most high-profile acquisitions.Serra Automotive plans to acquire Bill Marsh Auto Group later this year, making it one of the industry's most high-profile acquisitions.Why dealer groups prioritize M&A — Joe Serra, Matt Serra | Serra Automotive
Serra Automotive, ranked No. 12 among Top Dealer Groups and No. 6 among Top Private Groups in the United States, plans to complete its acquisition of Bill Marsh Auto Group. When the transaction closes in the coming months, Serra Automotive will receive three new stores representing eight franchises across Michigan. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Joe Serra, Chairman of Serra Automotive, and Matt Serra, President of Serra Automotive, to share transaction details and expectations for the 2024 auto market.Watch full segment here.

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Although the used car market has been volatile for a year, the average wholesale used car price during January was the same as December.Although the used car market has been volatile for a year, the average wholesale used car price during January was the same as December.After falling slightly at the end of 2023, wholesale used car prices were stable in January, indicating that the used car market has regained stability. The average used car price at auction in January was the same as the price in the last four weeks of 2023, according to Cox Automotive. Prices continued to fluctuate slightly throughout the month, falling in the first half and rising in the second half. Average prices in December fell by about 0.5% from November. read more

Sales of electric cars hit a record high in December, but hybrid cars have gained attention due to a surge in demand.Sales of electric cars hit a record high in December, but hybrid cars have gained attention due to a surge in demand.Global plug-in electric vehicle sales, including hybrids, hit a new record high in December 2023, despite widespread concerns among manufacturers about slowing consumer demand. Sales database platform EV Volumes recorded approximately 1.56 million new registrations of plug-in electric vehicles in the last four weeks of this year, up 12% from the record high of 1.39 million recorded in November 2023 and 2022. This was an increase of 23% from 1.26 million units in December. read more

Jaguar Land Rover (JLR) has postponed the launch of two electric models due to unexpected demand for plug-in hybrid vehicles.Jaguar Land Rover (JLR) has postponed the launch of two electric models due to unexpected demand for plug-in hybrid vehicles.Jaguar Land Rover (JLR) has postponed the launch of two electric models due to unexpected demand for plug-in hybrid vehicles. After starting to take orders in December, JLR has confirmed a significant surge in demand for its first electric Range Rover. Following strong sales in the third quarter of the fiscal year, JLR has announced plans to introduce four new electric vehicles (EVs) within the next two years. read more

As a Tesla owner, the thought of having to replace your car's battery can be scary, and depending on the model year, can be very expensive.As a Tesla owner, the thought of having to replace your car's battery can be scary, and depending on the model year, can be very expensive.As a Tesla owner, it's scary to think about having to replace your car's battery. Batteries are the most expensive part of an electric vehicle (EV), and no one wants to know that their car needs a new battery. Throughout his more than 15 years of manufacturing, Tesla has employed various types of lithium-ion batteries in its vehicles. The 18650 style cell was used in the original Roadster and later Model S. read more



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