EV Sales Start To Fall In California, an Industry Bellwether

Following a long, seemingly inexorable climb, registrations of battery-electric vehicles in California fell in the fourth quarter of last year. EV sales have now fallen for two consecutive quarters in the state, even as California regulators set a 2035 deadline for all new auto registrations to consist of zero-emission vehicles.

Toyota Has A Change Of Heart About Super Bowl

Toyota Motor North America has reversed an early decision not to run a national spot during Super Bowl LVIII on Feb. 11. More details will be shared closer to game day, according to the automaker’s announcement.

VW, BMW and Kia To Run Super Bowl Spots

The Super Bowl will see the return of BMW and Volkswagen as advertisers after hiatuses while Kia, a marketing mainstay during the Big Game, will be back for the third straight year.

U.S. New-Vehicle Inventory Expected To Rise Again in 2024, Forecast Says

New-vehicle inventory levels in the U.S. are expected to continue to reach post-pandemic highs this year, data analytics firm Cloud Theory said in its 2024 outlook report. U.S. new-vehicle inventories have been on the rise and reached a three-year high of 2.7 million last month, according to Cox Automotive.

Auto Inventory Rises to 3-Year High

New-vehicle inventory in the U.S. rose by more than 200,000 in December and started January half again as large as where it stood a year earlier, the highest in three years, according to Cox Automotive.

Automotive TV Spending Down 14.9% in December

Automakers spent an estimated $271.2 million on national TV advertising in December, down down 14.9% compared $318.5 million a year ago. December 2023 household TV ad impressions were also down 13% to 29.3 billion compared to 33.6 billion in December 2022, according to iSpot.tv.

Stellantis Punts On 2024 Super Bowl 

Stellantis is continuing its belt-tightening measures and has announced it will not participate in this year’s Super Bowl. It’s an unusual move from an automaker that often has not just one, but multiple spots across its brands, which include Ram, Dodge, Jeep, Fiat and Alfa Romeo.

Automotive Buyers Are In For A Wait

New vehicle buyers should expect to wait six months to a year for prices to drop, according to a new report analyzing why the new-car shortage happened and when it will end.

New-car Prices Easing After Record Highs

After a multiyear surge in new-car prices, buyers are starting
to see some relief on dealership lots. Inventory levels are
gradually coming back, giving shoppers more options when
browsing showrooms, and some discounting has crept back
into the market, albeit in a limited fashion.