Tech
How These Companies Are Taking Over Car Dealerships
Car dealerships have been mom and pop businesses for much of their existence. But the industry has been slowly consolidating. Six publicly traded dealership groups – AutoNation, Lithia Motors, Group1, Sonic Automotive, Penske, and Asbury – have been on a shopping spree, buying up a small but growing share of dealerships. These larger groups have been wildly profitable. But they face challenges. Tesla, Rivian and others are trying to sell cars directly. Consumers and automakers have been rebuking dealers for record high prices. But these groups have a lot of opportunity to expand further – they only control a small share of the total dealership market. They are also going online.
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How These Companies Are Taking Over Car Dealerships
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U.S. chip manufacturing faces a shortage of up to 157,000 skilled workers by 2030, a matter of concern for companies like Samsung.
Schools including Purdue and Arizona State have new semiconductor degree programs, and all the biggest chipmakers are investing millions to create pipelines of U.S. chip talent.
CNBC’s Katie Tarasov has the details. Watch the related video for full report.
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CNBC’s Michael Wayland takes a first look at electric vehicle startup Slate Auto’s modular $25,000 pick up trucks. The cars are affordable and basic, with features that buyers can customize. That includes turning the truck into an SUV. The vehicles had more than 150,000 refundable reservations before their release, despite waning consumer demand in EVs in the U.S. The company is about to find out if the truck can disrupt the market.
Reporting by: Michael Wayland
Produced and Camera by: Natalie Rice
Edited by: Darren Geeter
Senior Managing Producer: Tala Hadavi
Additional Footage: Slate Auto
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CNBC Takes A First Look At Slate Auto’s $25,000 Modular Cars
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AI data centers are driving unprecedented demand for electricity and putting renewed pressure on America’s power grid to modernize its equipment and develop greener, more efficient sources of power. Google, Meta, Microsoft and Amazon are all spending millions of dollars on local infrastructure upgrades and companies like SpaceXAI are even building off-grid power plants to power their data centers.
Google says its planned 780-megawatt data center in Pine Island, Minnesota, could offer a model for powering the AI boom. In a proposed agreement with Xcel Energy, Google says it will support 1,900 megawatts of new wind, solar and battery capacity, while minimum payments and exit fees are intended to protect local ratepayers if demand falls short.
CNBC examines whether projects like Pine Island can make the grid cleaner without shifting costs to existing customers, why some energy experts argue that smaller data centers could make better use of infrastructure already in place, and how utilities’ financial incentives can complicate efforts to build less.
Chapters:
0:00 – 2:06 Introduction
2:07 – 4:49 Off-grid solutions
4:50 – 9:00 Upgrading the grid
9:01 – 11:44 Smaller data centers
Produced by: Jeffrey Kopp
Senior Director of Video: Jeniece Pettitt
Tech Correspondent: MacKenzie Sigalos
Edited by: Erin Black, Matt Soto
Camera: Donny Rowles
Animation: Jason Reginato, Emily Park
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Want to get ahead at work? Then you need to learn how to make effective small talk. In CNBC’s new online course, How To Talk To People At Work, expert instructors teach you how to use everyday conversation to gain visibility, build meaningful relationships and advance your career. Sign up now: https://cnb.cx/4sGlSkh
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The Race To Power AI Is Reshaping America’s Electric Grid
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A leak by Indian supplier Tata Electronics, purportedly of the yet-to-be-released iPhone 18 Pro models, has become marketing gold for the Chinese government. The Communist Party paper, The Global Times, is using the leak – caused by a cyberattack – as a cautionary tale for Apple and other American companies that are in the process of diversifying their supply chains away from China. CNBC’s Eunice Yoon reports.
00:58 Correction: The location tag should be Beijing, China.
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China’s Swagger After India’s iPhone 18 Leak
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Unstoppable demand for AI is leading to a capacity crunch on factory lines at the world’s leading chip manufacturer, Taiwan Semiconductor. And it could put a chokehold on AI’s ability to scale. Analysts tell CNBC that Nvidia, Apple, Broadcom, AMD and others are locked in an “extremely fierce” competition to get their GPUs, CPUs and custom AI chips made at TSMC. Capacity can’t come online fast enough, despite TSMC’s rush to build new fabs in Taiwan, Japan and Arizona, where has expanded investment to $265 billion. The strain has made one man at TSMC “the most popular person on the planet,” as chip start-ups and big name CEOs visit Taiwan to ask him for wafer allocation. It’s also created a rich opportunity for Intel, as customers look to the long-struggling foundry arm of the U.S. chip manufacturer for a second source.
Chapters:
0:00 Introduction
2:06 ‘Most popular person on the planet’
6:54 Making room for smaller players
9:10 Can new U.S. fabs ease the crunch?
Producer and Reporter: Katie Tarasov
Edited by: Matt Soto, Andrew Evers
Camera: Eddie Temborski, Robert Lampe, Evan Reinhardt
Senior Director of Video: Jeniece Pettitt
Animation: Jason Reginato, Emily Park
Additional Footage: Cerebras, D-Matrix, Getty Images, Intel, Nvidia, OpenAI, SpaceX, TSMC
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About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
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Why There’s An ‘Extremely Fierce’ Battle For TSMC’s Limited Chip Manufacturing Capacity
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@EricPham-gr8pg
December 21, 2023 at 4:46 pm
Should we demilitarize car industry as the last friendly guesture to the young and female. So installing crash proof , accident proof , and terrorist proof all the cars or atleast 50% of all cars may be as important as nuclear war itself. This save significant money misspent in overprice insurance and reduce unneccessary injury that cost nearly 20 billions in compensation to economic and lost productivity and human health yearly that in past 40 years add up more than entire vietnam war. Iraqi war , Afghanistan war , korean war add together
@alejandroescalante9194
December 21, 2023 at 4:46 pm
“the last bastion of the mom and pop industry” bruh its true that americans be having the weirdest comparisons smh 💀 ew
@hermanrogers1325
December 21, 2023 at 4:46 pm
Investors are trying to corner the car sales market and they are trying to do the same thing with houses
@bgregg55
December 21, 2023 at 4:46 pm
Haven't been in a dealership since '09 & have no interest in ever stepping foot in one again.
@MasticinaAkicta
December 21, 2023 at 4:46 pm
Ah car dealers. the true sludge of society. Well within a legal framework.
It is time for the american dealership and the system to die out and the market to change.
@Cabal77
December 21, 2023 at 4:46 pm
Simple question: What value do dealerships add into the market chain? Take your time; I'll wait. On a side note, maybe you'll say something about certified repair shops. Well, what should that have to do with sales?
@barbecueman6352
December 21, 2023 at 4:46 pm
Lol car dealerships are mom and pop stores? Mom and pop stores don’t claim exclusive rights to sell certain groceries in a large geographic location and lobby congress to maintain exclusivity.
@thecasual4880
December 21, 2023 at 4:46 pm
Of course this is all those people who are moving from nyc and la. Of course, car companies no longer worry about normal working class people.
@danhunt3652
December 21, 2023 at 4:46 pm
👍
@albieoval1657
December 21, 2023 at 4:46 pm
I bought my car off a lithia dealership (Toyota). I pre purchased oil changes.
That Toyota dealership stopped being affiliated with lithia. We were told our oil change would be charged as the deal was with lithia.
I was referred to a Hyundai dealership but when it came to scheduling an oil change months later we were told that dealership was not affiliated with lithia.
So, we were referred to a dealership nearly an hour away.
I think that’s their business model. Charge fees for services but then leave the dealership so those already paid services cannot be redeemed
@I_am_Tee
December 21, 2023 at 4:46 pm
If they were to all go out of business, it wouldn't be a love loss on my end. Good riddance!🎉🎉🎉 I'd love to buy straight from the manufacturer
@JonesJones-np2kq
December 21, 2023 at 4:46 pm
NOT for long, major manufacturers are looking to sell their vehicles directly to customers skipping the middleman! Ford has already announced despite the dealership lobby
@maxlemusa3520
December 21, 2023 at 4:46 pm
I wanted to sell my camry 2016 SE with 134k mileage. The dealership offered $9000 because of a scratch on the paint, and on their lot, there is a 2015 camry with 150k mileage for $13000
@sidekick96734
December 21, 2023 at 4:46 pm
Manufacturers need to sell direct to the customer. The government needs to step to the side on this one. This isn't the 1950s anymore…
@m-cw7er
December 21, 2023 at 4:46 pm
$1000 car payment. Lolol. Common sense people.
@REAL-UNKNOWN-SHINOBI
December 21, 2023 at 4:46 pm
It's almost as if states and the country could regulate how many dealerships one person can own, but God forbid regulations because that could seem as government corruption.
Even though the organizations already use legalized corruption to their advantage.
Otherwise known as lobbying.
@KA9DSL
December 21, 2023 at 4:46 pm
Money seems to be more important than reputation for these dealers. Direct from factory
is the wave of the future. It's 2023, not 1923. Laws need changing.
@scholarlyreader383
December 21, 2023 at 4:46 pm
Sales or other intermediate component of an Entreprise are a impedement to business progress. Sales dept aka the sales person must eliminated.
@salamecas5293
December 21, 2023 at 4:46 pm
Tesla does not have dealerships
@Trash67890
December 21, 2023 at 4:46 pm
dealership 🤝 Scalpers
@jimmydeneus7109
December 21, 2023 at 4:46 pm
Wow 💯 i never seen this day wpuld come to cars
@KeikoMushi
December 21, 2023 at 4:46 pm
So, large companies are trying to create monopolies. Being able to purchase direct from the manufacturer is much better for the customer as less entities are hiking up the price for the consumer.
@TechFollower
December 21, 2023 at 4:46 pm
In US everybody becoming greedy… that's really bad for a bright future
@TechFollower
December 21, 2023 at 4:46 pm
All cars business is done now