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Automotive weekly roundup: Nissan targets growth, online sales rise, Hyundai Invests big in EV future

Earlier this week: Nissan plans to boost sales by 1 million units and slash EV costs through its "Arc" strategy by 2027. CarGurus reports a trend toward online car buying and decreased brand loyalty. J.D. Power finds higher satisfaction among EV owners with home charging compared to public stations. Edmunds highlights a gap between consumer expectations and the actual pricing of EVs. Hyundai is investing $51 billion in electrification, aiming to lead in the EV market despite industry hesitations. Here’s a closer look at these top stories and more headlines to stay on top of this week in automotive...

Dealer Jack Kain, former NADA chair, passes away at age 94

Jack Kain, legendary Ford dealer, founder of Kain Family Ford, and former Chairman of the National Automobile Dealers Association (NADA), passed away March 26,...

Ally Financial names Michael G. Rhodes as new CEO

On March 27, Ally Financial announced that Michael G. Rhodes will become the company's new CEO, effective April 29, 2024. At that point, Ally...

Fisker aggressively cuts Ocean SUV prices, looks to avoid bankruptcy

Electric vehicle startup Fisker is making aggressive price cuts across its 2023 Ocean SUV lineup as it grapples with an increasingly dire financial situation...

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March sees 12.1% new car sales surge amid market adjustments

In March 2024, new car sales are poised to make a big leap. Analysts forecast 1,525,700 units sold, a 12.1% increase from the previous...

How successful salespeople get leads and close deals in a competitive market — Sean Gardner | Joe Verde Group

With the car market becoming increasingly consumer-friendly in the wake of the COVID-19 pandemic, dealership salespeople must prepare themselves for a more normalized environment....

New vehicle prices continue falling in February as sales pace accelerates

New vehicle prices dropped again in February, progressing toward pre-pandemic averages while sales and inventory improved. According to Cox Automotive, the average new vehicle transaction...

The vital role of sales and BDC training in today’s automotive market – Sean V. Bradley | Dealer Synergy

As the dust settles post-NADA Show, dealerships are buzzing with revitalized passion for the road ahead. However, the emphasis on effective training should not...

Former general manager shares universal business principles in new book – Glenn Lundy

Since running a dealership in Paris, Kentucky, and seeing 800 percent growth in 5 years, Glenn Lundy has since been working with dealers across...

Unleash gold: 4 ways to help you sell more cars – Sean Gardner | Joe Verde Group

Could you be sitting on a gold mine? In today’s episode of CBT Now, Sean Gardner, Instructor and Sales Trainer at the Joe Verde...

How dealerships are improving the customer experience — Gary Barbera | Barbera’s Autoland

With the rapid onslaught of innovation, technological advancement, and shifts in consumer preferences, dealerships must work harder than ever to stay on top of...

Balancing growth to maximize dealership competitiveness — Jeff Dyke | Sonic Automotive

In 2023 Sonic Automotive, one of the nation’s largest automotive retailers, saw an all-time record annual revenue of $14.4 billion despite some challenges, like...

Hyundai-Amazon update puts dealers at the heart of online sales — Andy Wright | Vinart Dealerships

Last year, Amazon and Hyundai announced a new partnership that would see the automaker's vehicles sold on the e-commerce giant's platform. The reveal left...

How to win in today’s volatile used car market – John Ellis

The used car market is bustling with activity this spring, and car dealers must ensure their pre-owned operational strategies align with current market conditions....

Used vehicle sales rocket forward thanks to tax season

Used vehicle demand continued to surge through February and into March, pushing inventories down as dealers adapt to consumer behaviors. Dealers sold 1.49 million used...

Negative equity sets new record in previous-quarter’s used vehicle market

Negative equity in the used vehicle market grew in the final months of 2023, underscoring normalizing trends in the preowned segment. Edmunds noted high levels...

Mobile service startups transform car service, capturing dealership attention

A wave of innovative startups is challenging the status quo by offering mobile repairs and maintenance for cars just about anywhere. These disruptors have...

Driving efficiency in dealership service operations — Tom Druzynski | West Herr Automotive Group

Efficiency is everything when it comes to dealership service operations, with customer satisfaction often contingent upon the speed of their appointment. However, in a...

Car owners flock to independent service centers to escape high prices

Drivers prefer to work with independent service centers rather than dealerships for car repairs, according to a new study by Consumer Reports. The survey sourced...

Optimizing GA4 to power dealership marketing — Brooke Furniss | BZ Consultants Group

With the official shutdown of its predecessor last year, Google Analytics 4 (GA4) is now the primary tool for tracking website data and gauging...

Using social media to harness the power of authentic personal branding – Tianna Mick | Dealer Synergy

Persistent high interest rates and affordability challenges remain a shared concern for dealers and consumers alike, so it's essential to empower your sales teams...

Electric vehicle marketing may be easier than you think — John Fitzpatrick | Force Marketing

Like it or not, electric vehicles are here to stay, leaving car dealers with the unenviable task of ramping up sales in a new...
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NADA appoints new senior advocacy staff members

The National Automobile Dealers Association (NADA) has declared several changes to its leadership team, including appointing an executive vice president for public policy. The...

How state dealer associations are tackling EV headwinds — Christine Vinatieri-Erickson

On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Christine Vinatieri-Erickson, president of the South Dakota Auto Dealer Association (SDADA) and...

Live Replay NADA Show 2024: Geoffrey Pohanka, Mike Stanton, & Gary Gilchrist

At the recent 2024 NADA Show, CBT News anchor Jim Fitzpatrick had the pleasure to speak with NADA CEO Mike Stanton, outgoing Chairman Geoffrey...

Column | How China’s auto ambitions are reshaping global markets

The global automotive industry is in a transformative phase, heavily influenced by America’s weaknesses and China’s expansive role. From dominating chip manufacturing to increasing...

Maximizing performance with automotive AI

As the auto industry begins to stabilize, dealers and OEMs face a new set of challenges. Slowly rising inventory levels, declining margins, brittle supply...

Confidence in self-driving car safety plummets in AAA study

More Americans felt less safe sharing the road with self-driving vehicles in 2023 than they did in 2022 after numerous reports of traffic incidents...

Group 1 expands with Modern Classic Motors acquisition in South Carolina

On March 11, Group 1 Automotive, one of the nation's leading auto retailers, announced the acquisition of Modern Classic Motors in Hilton Head, South...

Dealership M&A roundup: Ken Ganley expands in Cleveland, Group 1 sells 6 Texas stores

Ken Ganley Automotive Group has expanded its portfolio in Cleveland, Ohio, after buying Bob Gillingham Ford, now known as Ken Ganley Ford Parma, and...

MileOne acquires Koons Wilmington Lexus from Asbury Automotive

MileOne Autogroup purchased a Delaware Lexus dealership from Asbury Automotive just months after the seller acquired the storefront from the Jim Koons group. The transaction...

From the fax machine to the future: auto finance disruption’s time is here

Does anyone remember the last time there was major ‘disruption’ in communications between auto finance lenders and auto dealers? If not, let me refresh...

Innovating for short and long-term F&I headwinds — Scott Gunnell | JM&A Group

F&I (finance and insurance) continues to be one of the most important departments in the dealership, driving both revenue and customer satisfaction. But just...

Vehicle financing conditions trend against consumers in January

Vehicle financing remained an obstacle for many consumers in January, during which auto lenders displayed more caution and auto loan access declined. According to Cox...

How dealerships can win the talent war in fixed operations

In an industry as challenging and complex as fixed operations, attracting and retaining top-tier talent is not just a goal—it's a necessity. The landscape...

Why you should revisit your talent acquisition process in 2024 — Adam Robinson | Hireology

Dealership methods of talent acquisition and retention have become increasingly outdated, not only in how retailers identify candidates but also in how they keep...

5 reasons to work in the retail automotive industry

Technology is always evolving, and one of the industries that consistently pushes the boundaries of innovation is the automotive industry. When it comes to...

Decoding the future of car buying with transparency – Katie the Car Lady

For over two decades, Katie the Car Lady has championed consumer rights, earning her reputation as a beacon of transparency and expertise in the...

Automotive brand loyalty winners fend off retention woes in 2023

Brand loyalty remains a critical factor in automotive marketing but has been declining for several years, making events such as S&P Global Mobility's Annual...

How dealers can harness ‘Talk Triggers’ to boost customer retention – Jay Baer

On today's episode of Inside Automotive, we are joined by Jay Baer, an author, advisor, Hall of Fame keynote speaker, and customer experience researcher....
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