Daily Newscast – CBT News https://www.cbtnews.com Your #1 source for auto industry news and content Fri, 01 Sep 2023 17:43:05 +0000 en-US hourly 1 https://wordpress.org/?v=6.2.2 https://d9s1543upwp3n.cloudfront.net/wp-content/uploads/2023/04/cropped-CBT-logo-scaled-1-32x32.png Daily Newscast – CBT News https://www.cbtnews.com 32 32 Hyundai posts sales, Biden supports workers, Dealership supports student https://www.cbtnews.com/cbt-automotive-newscast-september-05-2023/ Tue, 05 Sep 2023 08:59:16 +0000 https://www.cbtnews.com/?p=189610 Inside Automotive How Texas dealers are driving electric vehicle demand — John Luciano | Street Volkswagen Electric vehicles have become a contentious topic in the automotive community as automakers, dealers and consumers share differing perspectives on the short and long term future of transportation. In an unexpected development, Texas has quickly become a hub not […]

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Inside Automotive

John Luciano joins Inside Automotive to share his insights into the Texas electric vehicle market and the challenges facing EV dealers.How Texas dealers are driving electric vehicle demand — John Luciano | Street Volkswagen
Electric vehicles have become a contentious topic in the automotive community as automakers, dealers and consumers share differing perspectives on the short and long term future of transportation. In an unexpected development, Texas has quickly become a hub not only for thousands of EV drivers but also for manufacturers such as Tesla, which operates a massive factory near the state’s capital. Although most buyers in the region are in no hurry to abandon their gas-powered cars, understanding why some Texans are making the switch to electric may help dealers learn how to drive demand in their own states. Watch full segment here.

Top Stories

Hyundai continued to see strong demand in the U.S. throughout August as electric vehicle purchases broke all-time sales records.Hyundai continued to see strong demand in the U.S. throughout August as electric vehicle purchases broke all-time sales records. According to the automaker’s report, last month’s U.S. sales reached 65,046 units, an increase of 1% compared to August 2022. However, the number is slightly behind July’s sales numbers, which amounted to 66,527 units. This marks the fifth consecutive month that Hyundai has seen lower month-over-month sales after hitting a peak of 75,404 units in March. Read More

The Biden Administration will supply $12 billion in grants to retool car factories for electric vehicle production.The Biden Administration will supply $12 billion in grants to retool car factories for electric vehicle production, according to an announcement by Energy Department officials on Thursday. The department has yet to announce where the funds will be directed, although a spokesperson did not that facilities offering higher quality labor conditions would take priority over others. According to Energy Secretary Jennifer Granholm, the initiative is aimed at protecting local communities that depend on ICE car factories for jobs. Read More

A Rhode Island Honda dealership has donated a wheelchair-accessible van to a local college student with spinal muscular atrophy.

A Rhode Island Honda dealership has donated a wheelchair-accessible van to a local college student with spinal muscular atrophy. Grieco Honda supplied the vehicle to Ciarra Muller, who recently started her major in journalism at the Community of College of Rhode Island. Muller and her family originally contacted the company to refit their family van for a wheelchair. Read More

For Dealers

7 tips for enhancing your dealership’s online vehicle merchandising strategy
In today’s fast-paced digital age­, having a robust strategy for showcasing your dealership’s vehicles online­ is not just a passing trend – it’s absolutely vital. With 80% of car shoppers conside­ring making their vehicle purchase­ online, how you present your inve­ntory on the internet can significantly influe­nce your sales and competitive­ness. In this article, we will de­lve into the effectiveness of online me­rchandising and provide practical tips to help you achieve success in this crucial area. Read More

The mentorship mindset: how effective leaders nurture the growth of their teams
For dealership managers and executives, getting top talent in place is only half the battle for driving sales and boosting profits. Sharp leaders realize that success comes from developing people to their fullest potential. It’s an approach requiring a mentorship mindset. Exceptional leaders recognize that their roles extend far beyond overseeing daily operations and concentrating on KPIs and other metrics. Read More

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Ford’s UAW contract proposal, Tesla continues price cuts, UAW files charges against GM and Stellantis https://www.cbtnews.com/cbt-automotive-newscast-september-04-2023/ Mon, 04 Sep 2023 08:59:32 +0000 https://www.cbtnews.com/?p=189543 Inside Automotive  Enhancing your dealers’ brands to reach your customers where they are — Matt Bowers | Matt Bowers Auto Group Dealers are seeing more inventory- meaning their lots are filling back up. In fact, the Matt Bowers Auto Group, based near New Orleans, Louisiana, has had several stores lead their markets in a new […]

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Inside Automotive 

Matt BowersEnhancing your dealers’ brands to reach your customers where they are — Matt Bowers | Matt Bowers Auto Group
Dealers are seeing more inventory- meaning their lots are filling back up. In fact, the Matt Bowers Auto Group, based near New Orleans, Louisiana, has had several stores lead their markets in a new volume in May. On today’s Inside Automotive, we’re joined by Matt Bowers, Owner of Matt Bowers Auto Group, to discuss the new volume and other business happening for the group. Watch the full segment here

Top stories

Ford made a significant offer on the upcoming contract, which provides hourly employees benefits over the contract's term. Following extensive negotiations, Ford made a significant offer on the upcoming contract, which provides hourly employees with 15% guaranteed combined wage increases, lump sums, and better benefits over the contract’s term. In a statement attributed to Jim Farley, “Ford has surpassed its obligations to invest and add employment throughout the last three contracts.” Read More

Shawn Fain, the National Labor Relations Board, NLRB, has received complaints from the United Auto Workers accusing General Motors and Stellantis of unfair labor practices for failing to bargain with the union in good faith or on time.
Image Source: Contract Talks with Detroit Three – The Detroit Bureau

According to UAW President Shawn Fain, the National Labor Relations Board, NLRB, has received complaints from the United Auto Workers accusing General Motors and Stellantis of unfair labor practices for failing to bargain with the union in good faith or on time. Fain branded the negotiation stance of GM and Stellantis as “Insulting and counterproductive” in a Facebook Live update to union members. Read More

Tesla has reduced the cost of its Full Self-Driving software by $3,000, from $15K in the U.S. to $12K, and it reduced its Model S/X prices.
Image Source: Beata Zawrzel | Getty Images

Tesla has reduced the cost of its Full Self-Driving software by $3,000, from $15K in the U.S. to $12K. Although North America did not receive the same formal Model 3 refresh announcement as Europe, it did experience a significant decrease in the cost of FSD. Thanks to the refreshment of vehicles, the Model S base price is now $3,500 cheaper, and the Model X is $8,500 more affordable. Read More

For Dealers 

Is there a disconnect between your service managers and technicians? Here’s how to fix it
Strong connections between service department managers and technicians are vital on two fronts: productivity and customer satisfaction. But sometimes poor communication, lack of training, and other factors impact workflow and the fixed ops bottom line. Let’s explore what causes this friction and how to smooth things over to foster teamwork and camaraderie. Read More

Being ready to identify fraud from the beginning of a customer interaction helps protect your store and maintain relationships with lenders.Tips to help spot identity and income verification fraud
With the gloomy economic forecasts that are flooding every media outlet daily, criminals are finding an easier environment to be able to pull off different types of fraud in dealerships nationwide. Read More

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Car owners spending records on new vehicles, Polestar reports quarterly loss, GM’s truck facility closes https://www.cbtnews.com/cbt-automotive-newscast-september-01-2023/ Fri, 01 Sep 2023 08:59:29 +0000 https://www.cbtnews.com/?p=189458 CBT Now  How to identify and fix the ‘Upper Limit Problem’ – Gay Hendricks | Hendricks Institute Could you be sabotaging your own success? On today’s episode of CBT Now, we’re exploring the “Upper Limit Problem,” a common problem many of us experience in business with allowing ourselves to enjoy our wins without boundaries. Joining […]

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CBT Now 

On today's CBT Now, we're exploring the "Upper Limit Problem," a common problem many of us experience in business with allowing ourselves to enjoy our wins without boundaries with Gay HendrickHow to identify and fix the ‘Upper Limit Problem’ – Gay Hendricks | Hendricks Institute
Could you be sabotaging your own success? On today’s episode of CBT Now, we’re exploring the “Upper Limit Problem,” a common problem many of us experience in business with allowing ourselves to enjoy our wins without boundaries. Joining us is Gay Hendrick, the founder of the Hendrick Institute, to discuss his new book, “The Big Leap,” which explores this problem and how to overcome it. Watch the full segment
here

Top stories

New car owners are now spending an average of $12,182 a year on their vehicles, according to data from the American Automobile Association.New car owners are now spending an average of $12,182 a year on their vehicles, according to data from the American Automobile Association (AAA). The costs of vehicle ownership have risen significantly since the onset of the COVID pandemic. During 2019, AAA reported that new car owners were spending $9,282 a year, which at the time was the highest since the association began tracking consumer spending. Read More

Electric vehicle brand Polestar continued to lose money in the second quarter but still expects to achieve its annual delivery target.Electric vehicle brand Polestar continued to lose money in the second quarter but still expects to achieve its annual delivery target thanks to a strengthening sales pace. The Volvo-owned EV maker published its quarterly earnings on Thursday, August 31, revealing a net loss of $304 million. The electric vehicle brand previously announced it had sold roughly 15,765 units between April and June, a year-over-year growth of 36%. Read More

Production at GM's Fort Wayne, Indiana, light-duty truck assembly will be closed until September 8 due to unidentified supply constraints. 
2024 Chevrolet Silverado 2500HD ZR2 | Car and Driver

Production at General Motors Fort Wayne, Indiana, light-duty truck assembly will be closed until September 8 due to unidentified supply constraints. According to Dennys Pimeta, Fort Wayne’s Plant Executive, wrote to employees, “GM is aggressively working with our supplier to overcome the challenges that have occurred so we can start producing the vehicles that are in high demand with our dealers and consumers.” Read More

Kia recall
Image Source: Green car reports 2017-2018 Optima Hybrid

Due to a potential break at the base of the trunk latch, which would make it impossible for the trunk to open from the inside, the South Korean automaker, Kia, is recalling nearly 320,000 Rio, Optima, Optima Hybrid, and Optima Plug-in Hybrid vehicles. According to the latest National Traffic Safety Administration, the recalled cars “Fail to comply with Federal Motor Vehicle Safety Standard requirements. Read More

For Dealers 

Evaluating the long-term costs of electric vehicles: pros and cons
Electric vehicles are a different breed of mechanical knowledge. Does that mean electric vehicles cost more or less in the long run? This is an interesting question many car buyers deciding between a gasoline engine and a battery-powered engine have been facing and one that many will face in the near future. Let’s find out! Read More

Automotive news this week: Nissan electrifies, UAW votes to strike, Hyundai ups its charging game, and Ford ditches some gas models.
Hyundai’s E-pit super-fast charging station // Image source: Hyundai

Weekly roundup: UAW members vote to strike pending negotiations, Ford discontinues 3 gas-powered models
Earlier this week: Nissan is accelerating its plans to go electric, with plans to release 27 electrified models by 2030. The UAW has voted in favor of a strike should negotiations with Detroit 3 car manufacturers fail to produce an acceptable contract by the upcoming deadline. Hyundai unveiled its own advanced charging network in South Korea with a capacity of 350 kW.  Read More

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U.S. officials have questions for Tesla, Ford discontinues 3 gas-powered vehicles, Rivian unveils electric pickup https://www.cbtnews.com/cbt-automotive-newscast-august-31-2023/ Thu, 31 Aug 2023 08:59:32 +0000 https://www.cbtnews.com/?p=189379 Inside Automotive  The role of speed in customer service and car buyer loyalty — Jay Baer Customer service speed can make or break a dealership’s brand loyalty and long-term growth. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Jay Baer, speaker, business growth and customer experience research and New York Times […]

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Inside Automotive 

Jay Baer joins Inside Automotive to discuss the relationship between customer service speed and brand loyalty in the dealership.The role of speed in customer service and car buyer loyalty — Jay Baer
Customer service speed can make or break a dealership’s brand loyalty and long-term growth. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Jay Baer, speaker, business growth and customer experience research and New York Times Best Selling Author, to explore service efficiency and whether companies can ever be too fast when helping customers in-store or online. Watch the full segment here

Top stories

U.S. safety officials are alarmed by Tesla's decision to let certain drivers use its Autopilot driver-assist system for prolonged periods
Image Source: Spencer Platt | Getty Images

U.S. safety officials are alarmed by Tesla’s decision to let certain drivers use its Autopilot driver-assist system for prolonged periods without requiring them to place their hands on the wheel. The National Highway Traffic Safety Administration has asked Tesla to provide statistics regarding the number of vehicles that have received a software update enabling such capability. Read More

As Ford prepares to launch its next-generation EV portfolio, the automaker is discontinuing its Escape, Edge, and Transit gas-powered vehicles.As Ford prepares to launch its next-generation EV portfolio, the automaker is discontinuing its Escape, Edge, and Transit gas-powered vehicles. Despite some setbacks in its EV rollout, Ford is moving forward with developing its second-generation cars. CEO Jim Farley announced in February that the carmaker was creating an internal EV platform for its upcoming line of EVs. Read More

Rivian has announced the maximum driving range for the new dual motor configuration of the R1T electric pickup.
Image Source: William Walker, MotorTrend

Rivian has announced the maximum driving range for the new dual motor configuration of the R1T electric pickup after launching the long-awaited Enduro drive unit. Apart from the electric pickup, the dual-motor option is also available for the R1S electric SUV. The EV brand is also planning to rely on the Enduro motors for its upcoming R2 lineup, the first model of which is scheduled to launch in 2026. Read More

Illinois lawmakers have passed an amendment to the state's vehicle code allowing car dealers to sell and deliver vehicles online.Illinois lawmakers have passed an amendment to the state’s vehicle code allowing car dealers to sell and deliver vehicles online, after facing pressure from e-commerce platform Carvana. Although dealerships in the state have been selling vehicles online for some time, the updated bill establishes explicit permissions regarding internet transactions, whereas earlier versions lacked precise guidelines. Read More

For Dealers 

Google and Bing have unique strengths. Our unbiased comparison is intended to help you decide how to use each one.Bing ads vs Google ads: choosing the right platform for your dealership
Search engine marketing, or SEM, is an advertising form common amongst car dealerships and service departments in an effort to buy traffic from people who use Google or Bing to shop for vehicles on the Internet. You might not have heard of Bing, or at least not much. We’ll take a deep dive comparing Bing to Google and their ad platforms. Read More

There is evidence that shoppers still want EVs, but are looking for a lower price. But how much do federal tax incentives sway new and used-car purchases?Are American shoppers really over EVs?
It would be easy to fall for the headlines about wavering EV demand in the US. In the past few weeks, editors have rushed to publish articles suggesting that no one wants to buy EVs and that unsold electric cars are littering dealer lots, all backed by market data. Read More

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GM & Googles OnStar AI technology expands, Ford Pro unveils new EV charger, Hyundai looks to rival with EV charger https://www.cbtnews.com/cbt-automotive-newscast-august-30-2023/ Wed, 30 Aug 2023 08:59:19 +0000 https://www.cbtnews.com/?p=189324 Inside Automotive  The future of artificial intelligence in the dealership — Kevin Frye | Jeff Wyler Automotive Family The automotive industry is evolving once more as artificial intelligence transforms how car dealers and manufacturers conduct business and serve customers. One of the thought leaders at the forefront of this shift is Kevin Frye, marketing director […]

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Inside Automotive 

Kevin Frye joins Inside Automotive to discuss the future of artificial intelligence along with potential use cases for car dealers.The future of artificial intelligence in the dealership — Kevin Frye | Jeff Wyler Automotive Family
The automotive industry is evolving once more as artificial intelligence transforms how car dealers and manufacturers conduct business and serve customers. One of the thought leaders at the forefront of this shift is Kevin Frye, marketing director at the Jeff Wyler Automotive Family. Watch the full segment here

Top stories

General Motors revealed on August 29 that it's collaborating with Google to examine ways to apply AI technologies throughout the automakers' operations.
Image Source: Reuters | Aly Song

General Motors revealed on August 29 that it’s collaborating with Google to examine ways to apply AI technologies throughout the automakers’ operations. The Detroit automaker and Google Cloud unit have expanded their earlier collaboration on GM’s OnStar Interactive Virtual Assistant (IVA), which launched in 2022, by forming a broad partnership focused on generative, or conversational, AI. Read More

Ford Pro introduced its second-generation EV charger, the Series 2 AC Charging Station 80 amp, on August 29 to help fleets go electric.
Image Source: Ford Media Center Ted Cannis, Ford Pro CEO

Ford Pro introduced its second-generation EV charger, the Series 2 AC Charging Station 80 amp, on August 29. The new EV charger is intended to modernize and streamline the entire experience, making it simpler than ever for fleets to switch to electric vehicles. After unveiling its newest charging options, Ted Cannis, CEO of Ford Pro, said, “We’re committed to helping businesses make the transition to electric easy with a single-minded focus on curated commercial charging solutions.” Read More

Hyundai is looking to challenge Tesla's dominance in the electric vehicle charging front with an upgraded network of stations.
Pictured: Hyundai E-Pit charging station, Image Source: Hyundai | KED Global

Hyundai is looking to challenge Tesla’s dominance in the electric vehicle charging front with new technological upgrades and a proprietary network of stations. Tesla is one of the only charging providers on the market to see positive reviews from drivers. Most brands in the sector have seen customer satisfaction scores decline in 2023 as EV owners continue to experience higher levels of station outages, charging issues and long wait times. Read More

A Texas Subaru dealership has made a large donation to support the annual wreath-laying ceremony at a local veterans cemetery.
Image Source: Wreaths for Vets

A Texas Subaru dealership has made a large donation to support the annual wreath-laying ceremony at a local veterans cemetery. The funds, totaling $16,085, will go to the Wreaths for Vets nonprofit. Every year, the organization honors deceased service members and their relatives by placing wreaths at graves within the Central Texas State Veterans Cemetery. Speaking to the Fort Cavazos Herald, Jean Shine, the group’s founder, noted that storing the wreaths had become a challenge for the small team. Read More

For Dealers 

Managing stress and burnout in the fast-paced retail automotive industry
The automotive­ retail industry is a dynamic and ever-e­volving sector that poses unique challenges for its professionals. From continuous customer interactions to meeting sales goals and juggling time pressures, the demands can sometimes feel overwhelming. This article explores practical strategies for effectively managing stre­ss, preventing burnout, and fostering a healthy work-life balance in the automotive­ retail industry. By implementing these strategies, professionals can prioritize their mental well-being while flourishing in their care­ers. Read More

In-house vs external BDC: How and why to make a switch
For a dealership, follow-up with customers is absolutely crucial. Some customers will choose which dealership to shop at based on interactions with salespeople over the phone, through text, or email, and might even pick based on who responds faster or more professionally. This is where either well-equipped salespeople or business development centers come in. We’ll explain when and how to switch to a business development center – and when to just have your salespeople do the work. Read More

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Used vehicle market sees Q2 price declines, Tesla prepares for trial, U.S. auto sales hint slowdown https://www.cbtnews.com/cbt-automotive-newscast-august-29-2023/ Tue, 29 Aug 2023 08:59:02 +0000 https://www.cbtnews.com/?p=189247 Inside Automotive  Four vital factors to consider when trying to meet dealership hiring demands – Adam Robinson | Hireology Now more than ever, dealerships need help to fill roles and retain top talent, like technicians. But you may be surprised to learn it doesn’t always come down to money for job seekers. Hireology’s State of […]

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Inside Automotive 

On today’s edition of Inside Automotive, we’re joined by Adam Robinson, the CEO and Co-Founder of Hireology, to elaborate more on the report and solutions to fill job seekers roles.Four vital factors to consider when trying to meet dealership hiring demands – Adam Robinson | Hireology
Now more than ever, dealerships need help to fill roles and retain top talent, like technicians. But you may be surprised to learn it doesn’t always come down to money for job seekers. Hireology’s State of Automotive Hiring Report found that things other than pay could make all the difference. On today’s edition of Inside Automotive, we’re joined by Adam Robinson, the CEO and Co-Founder of Hireology, to elaborate more on the report and solutions to fill roles. Watch the full segment here.

Top stories

The used vehicle market remained strained by pent-up demand and supply shortages throughout the second quarter.The used vehicle market remained strained by pent-up demand and supply shortages throughout the second quarter, according to research by Edmunds. Since the onset of the COVID pandemic, the preowned segment has seen values fluctuate rapidly. In Q2, used vehicle transaction prices averaged $29,472, a decline of 4.6% from the prior-year period. Read More

For the first time, Tesla will defend itself in court against claims that the Autopilot driver assistance system was the cause of a fatal crash.For the first time, Tesla will defend itself in court against claims that the Autopilot driver assistance system was the cause of a fatal crash. Musk, whose image as an engineering leader is being questioned by plaintiffs in one of two cases who claim that he directly oversees the group behind the failed technology, claims that self-driving capabilities are essential to Tesla’s financial future. Read More

U.S. S&P GlobalAutomotive data provider S&P Global Mobility has reported that while U.S. light vehicle sales are expected to remain steady in August, there are signs of a slowdown. According to Chris Hopson, lead analyst at S&P Global Mobility, “Rising interest rates, credit tightening, and new vehicle pricing levels slowly decelerating remain pressure points for consumers.” Read More

United Auto Workers (UAW) union members have now voted in favor of a strike should negotiations with Detroit-Three car manufacturers fail.United Auto Workers (UAW) union members have now voted in favor of a strike should negotiations with Detroit-Three car manufacturers fail to produce an acceptable contract by their September 14 deadline. The UAW began tallying votes from workers across Stellantis, General Motors and Ford last week under orders from President Shawn Fain. Read More

For Dealers 

The conflict between the UAW and the Detroit 3 is spectacular in its intensity but could also have serious ramifications on the U.S. economy.Opinion | Rethinking the UAW and the Detroit 3 Saga: An Avengers level showdown with real-world stakes
In the Transformers movies, when Optimus Prime clashed with Megatron, or in The Avengers, when our heroes battled the likes of Thanos, the earth-shattering confrontations, while spectacular, always left a trail of devastation in their wake. The unfolding drama between the United Auto Workers (UAW) and the Detroit 3 is not so different—possibly spectacular in its intensity but with ramifications that echo throughout the American economic landscape. This isn’t a mere corporate face-off—it’s an epic clash with some potentially damaging results. Read more

By showcasing your EV knowledge, you can help electric car buyers have a more pleasant and effective experience on your sales floor.What do electric car buyers want to know before the purchase?
The car sales process has changed a lot in the last 15 to 20 years. Cars themselves have changed quite a bit in the same time period. With the introduction of new electric vehicles to many dealerships, has the information electric car buyers want to know – or want from the sales process, changed? We’ll take a look at recent studies and surveys to help you better understand how to make an electric vehicle shoppers’ experience a good one. Read more

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GM joint venture agrees to raise pay, Nissan’s upcoming EV lineup, Aug. new car sales forecast https://www.cbtnews.com/cbt-automotive-newscast-august-28-2023/ Mon, 28 Aug 2023 08:59:38 +0000 https://www.cbtnews.com/?p=189174 Inside Automotive  Leveraging AI as an asset in the dealership rather than being afraid of it – Shep Hyken Artificial Intelligence is changing how some companies conduct business, especially in customer service. It may already replace roles in some industries, but is that necessarily bad? On today’s Inside Automotive, we’re joined by Shep Hyken, Customer […]

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Inside Automotive 

Shep Hyken explores how dealerships can elevate their customer service experience using artificial intelligenceLeveraging AI as an asset in the dealership rather than being afraid of it – Shep Hyken
Artificial Intelligence is changing how some companies conduct business, especially in customer service. It may already replace roles in some industries, but is that necessarily bad? On today’s Inside Automotive, we’re joined by Shep Hyken, Customer Service and Experience Expert, Keynote Speaker, and a New York Times and Wall Street Journal Best-Selling Author. Hykne explores how dealerships can best elevate their customer service experience using AI. Apart from his most recent research, the ACA study, it focuses on this very topic. Watch the full segment here

Top stories

The joint venture battery business announced on that it would increase workers' compensation at its Ohio operation by an average of 25%.
Ultium’s plant in Warren, Ohio.

After several U.S. senators criticized General Motors and LG Energy Solution joint venture battery plant for paying employees as little as $16 an hour, the facility announced that it would increase workers’ compensation at its Ohio operation by an average of 25%. However, Ultium Cells stated that workers must still ratify the interim salary rise that goes into effect on August 28. Read More

Nissan's broader vision for an electric future is accelerating. The OEM announced plans to release EVs under the Nissan and Infiniti banners by 2025.
Nissan Chill-Out concept

Nissan pulled back the curtain for dealers this week, giving a sneak peek into its upcoming electrified arsenal, according to reporting from Automotive News. At the heart of their presentation were three promising models. First, they unveiled an updated version of the Nissan Leaf. The new Leaf boasts a sportier look and a longer driving range. Read More

August new vehicle
Charlie Chesbrough, Cox Automotive’s Senior Economist

When automakers release their new vehicle sales figures, they are predicted to show significant year-over-year growth with a modest slowdown from last month’s sales pace. The new vehicle inventory reaching its highest level over two years is a substantial factor in the volume increase. Higher sales volumes are anticipated to be supported by more robust fleet sales. Read More

The funds raised allow the USO to support over 300,000 service members and their families every year.
Chicago Automobile Trade Association, on behalf of the Chicagoland new-car dealers, presents fundraising check to USO for $100,453.

In an inspiring display of dealers doing good, over 80 local new car dealerships, rallied behind our nation’s military under the banner of the Chicago Automobile Trade Association (CATA). CATA partnered with the USO for the 10th time to present the annual USO Barbecue for the Troops fundraisers, according to a press release. The events, which took place on July 15, included barbecues, patriotic ceremonies, and classic car exhibitions. Read More

For Dealers 

Navigating EV maintenance: what dealerships need to know
Imagine walking onto your showroom floor first thing in the morning. The familiar hum of traditional internal combustion engine vehicles buzzes in the background. But right at the forefront, a lineup of shiny, sleek electric vehicles beckons. As you admire them, a long-time customer walks up beside you, eyeing an EV. “I’ve heard these hardly need any maintenance. Is that true?” they ask. Read More

Building rapport with prospective car buyers over the phone
Deve­loping a strong rapport with potential car buyers over the phone is crucial for sales professionals in the automotive industry. It involves establishing a ge­nuine connection, comprehe­nding the buyer’s require­ments, and assisting them in finding the perfect vehicle. Read More

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UAW practices strike, EV technology struggles, OSHA investigates Ultium https://www.cbtnews.com/cbt-automotive-newscast-august-25-2023/ Fri, 25 Aug 2023 08:59:33 +0000 https://www.cbtnews.com/?p=189108 Inside Automotive Addressing challenges in the ACC2 and driving zero-emission vehicle demand — Jim Appleton | NJ CAR New Jersey Governor Phil Murphy announced a proposal to adopt the Advanced Clean Cars II plan (ACC2), which would require car manufacturers to increase zero-emission vehicle shipments to 100% of all deliveries by 2035. The strategy was […]

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Inside Automotive

Jim Appleton joins Inside Automotive to discuss the ACC2 and the challenges to driving demand in the zero-emission vehicle sector.Addressing challenges in the ACC2 and driving zero-emission vehicle demand — Jim Appleton | NJ CAR
New Jersey Governor Phil Murphy announced a proposal to adopt the Advanced Clean Cars II plan (ACC2), which would require car manufacturers to increase zero-emission vehicle shipments to 100% of all deliveries by 2035. The strategy was originally implemented by the California Air Resources Board (CARB) last year and has since been adopted by multiple states. On this episode of Inside Automotive, hosts Jim Fitzpatrick and Shyann Malone are joined by Jim Appleton, president of the New Jersey Coalition of Automotive Retailers (NJ CAR), to discuss the proposal and how it could affect the retail automotive sector. Watch full segment here.

Top Stories

During a practice picket outside of a Stellantis plant in Detroit, UAW president Shawn Fain addressed the possibility of a strike.

During a practice picket outside of a Stellantis plant in Detroit, United Auto Workers president Shawn Fain discussed the possibility of a strike with union members as contract negotiations with Big-Three automakers draw closer to their September 14 deadline. The UAW has promised to strike should OEM executives fail to agree to their terms, which include large pay raises and guarantees that auto manufacturing jobs will be protected throughout the transition to electric vehicles. Read More

Drivers are starting to encounter more issues with electric vehicles than they do with ICE vehicles, as traditional OEMs compete with Tesla.Drivers are starting to encounter more technology issues with electric vehicles than they do with ICE vehicles, as traditional OEMs contend with disruptive brands such as Tesla. More than 82,000 new car owners gave electric vehicles lower scores in 17 of 21 features listed in a survey conducted by J.D. Power. Researchers noted that 86% of the EV models examined also saw lower scores in the area of advanced technology, referring to emerging innovations such as driver assistance software and hands-free user interfaces. Read More

The U.S. workplace safety regulator announced on August 23 that it was investigating a recent chemical solvent leak at a battery facility in Ohio that General Motors and LG Energy Solution of South Korea jointly control.

The United States’ workplace safety regulator announced on August 23 that it was investigating a recent chemical solvent leak at a battery facility in Ohio that General Motors and LG Energy Solution of South Korea jointly control. The joint venture, Ultium Cells LLC, said it had discovered a cathode mixing slurry leak at its Ohio production facility and took immediate action to isolate the cause and contain it. Read More

Consumer fatigue with new and used car pricing is impacting their sales rate, with top-selling new models selling 29.2% slower and popular used cars selling 26% slower than last year. According to a recent report by iSeeCars.com, used vehicle sales are growing overall by 6.1%, while sales of new cars are declining by 25.7%. Read More

For Dealers

Your dealership is or will become an expert on electric vehicles. Take advantage of this mastery by promoting what you know. 6 tips for marketing the benefits of electric vehicles and other eco-friendly cars
Electric vehicles (EVs) are increasingly gaining favor with eco-conscious consumers looking for more sustainable transportation. However, marketing the environmental benefits of EVs to this audience requires a well-thought-out approach. These efforts need to include highlighting the ‘green’ aspects of EVs. With this in mind, let’s review effective techniques that dealerships can use to appeal to environmentally-minded buyers. Read More

Ford Lightning leads EV pickups, Las Vegas dealer scammed, Anderson Automotive expands, and more headlines this week in automotive industry news.

Weekly roundup: Ford Lightning dominates EV pickup market, Anderson Automotive expands
The Ford Lightning leads in EV market interest, outdoing Tesla’s Cybertruck, says Cox Automotive. Las Vegas dealer Jim Marsh encountered a real-estate scam over a Colorado plot. Anderson Automotive Group expanded in South Carolina with seven new dealerships. A recent study shows electric vehicle leasing is more economical than gas-powered options. UAW’s president, Shawn Fain, readies for a potential strike amid pivotal automaker negotiations, and more headlines to stay on top of this week in automotive industry newsRead More

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EV lease affordability, NHTSA retracts position, VinFast considering dealers https://www.cbtnews.com/cbt-automotive-newscast-august-24-2023/ Thu, 24 Aug 2023 08:59:11 +0000 https://www.cbtnews.com/?p=189030 Inside Automotive Why public dealership groups are returning to the mergers and acquisitions market Publicly traded dealership groups are starting to return to the mergers and acquisitions market as the post-pandemic economy stabilizes and OEMs ramp up production. But what exactly are buyers looking for, and where are they hoping to purchase storefronts? On this […]

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Inside Automotive

Alan Haig and Mike Toth join Inside Automotive to discuss the mergers and acquisitions market and principles for attracting public buyers.Why public dealership groups are returning to the mergers and acquisitions market
Publicly traded dealership groups are starting to return to the mergers and acquisitions market as the post-pandemic economy stabilizes and OEMs ramp up production. But what exactly are buyers looking for, and where are they hoping to purchase storefronts? On this episode of Inside Automotive, host Shyann Malone is joined by Alan Haig, president and founder of buy-sell advisory Haig Partners, and Mike Toth, the firm’s managing director, to give a quarterly update on the state of retail automotive M&A. Watch full segment here.

Top Stories

A new study claims that an electric vehicle lease is more affordable than purchasing or leasing a gas-powered car.A new study claims that an electric vehicle lease is more affordable than purchasing or leasing a gas-powered car. Car prices have risen steadily since the COVID pandemic, as the automotive industry has grappled with supply shortages and production disruptions. The average cost of a new vehicle in July was $48,334, $200 higher than in 2022. Read More

The National Highway Traffic Safety Administration (NHTSA) has green lighted a Massachusetts law making car manufacturers share vehicle data.The National Highway Traffic Safety Administration (NHTSA) has green lighted a Massachusetts law making car manufacturers share vehicle data with third-party service centers after initially opposing the bill when it passed in 2020. The right to repair law requires automakers to share vehicle data with independent repair shops, with the aim of giving technicians better access to crucial diagnostic data and expanding consumer repair options. Read More

Vietnamese automaker VinFast is in talks with U.S. partners to sell its electric vehicles through franchised dealerships.

Vietnamese automaker VinFast is in talks with U.S. partners to sell its electric vehicles through franchised dealerships rather than first-party storefronts. Direct sales have become an increasingly prominent topic of discussion in the retail automotive sector. Electric vehicle brands, such as Rivian and Tesla, have opted to forgo traditional franchise partnerships in favor of selling directly to the consumer, with the latter seeing massive success with this strategy. Read More

Tesla continues to create new paying accounts on Elon Musk's X (formerly Twitter), to where it's now probably shelling out close to $20,000 a year to be present on the platform.Tesla continues to create new paying accounts on Elon Musk’s X (formerly Twitter), to the point where paying to be on the social media platform currently costs close to $20,000. Tesla and other publicly traded firms are required to report any “related transaction” that might present a conflict of interest between its executives or board members and any other businesses in which they have interests. For example, Tesla frequently revealed interactions with SpaceX over the joint use of Musk’s plane or the latter’s purchase of Tesla components. Read More

For Dealers

The intricate dance between electric vehicles and software is crafting a new narrative in the retail automotive industry.

The role of software in EVs: opportunities and challenges
The spotlight in the auto industry has transitioned to an unlikely subject: software. Electric vehicles (EVs), previously dismissed as a niche, are fast becoming mainstream. Central to this transformation is software, acting as the lifeblood and cognitive center of these vehicles. But how does this digital wave affect dealerships and the consumer? Read More

Now’s the time for dealerships to adapt to market disruptions, while also finding success in the face of economic uncertainty.Selling cars despite the current economic uncertainty
Automotive retailers have seen a massive upheaval in recent years. Between the effects of the COVID-19 pandemic, inflationary concerns, higher borrowing costs, and general economic uncertainty, the landscape for dealers has profoundly shifted. Not only has buyer behavior changed, but so have consumer preferences and expectations. It’s all the result of an evolving economic climate. Read More

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Service volumes fall, car satisfaction rises, Texas adds EV fees https://www.cbtnews.com/cbt-automotive-newscast-august-23-2023/ Wed, 23 Aug 2023 08:59:58 +0000 https://www.cbtnews.com/?p=188959 CBT Now The frontlines of retail automotive: what dealers are seeing — Katie Bowman Coleman | Bowman Auto Group From mom-and-pop dealerships to larger auto groups, the changing retail automotive landscape has impacted businesses big and small. But how are dealers on the frontlines adapting to the transforming landscape? On this episode of CBT Now, […]

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CBT Now

Katie Bowman Coleman joins CBT Now to discuss the state of retail automotive and what dealers are seeing on the ground.The frontlines of retail automotive: what dealers are seeing — Katie Bowman Coleman | Bowman Auto Group
From mom-and-pop dealerships to larger auto groups, the changing retail automotive landscape has impacted businesses big and small. But how are dealers on the frontlines adapting to the transforming landscape? On this episode of CBT Now, host Shyann Malone is joined by Katie Bowman Coleman, president and owner of the Bowman Auto Group, to discuss her experiences in the industry and how her dealership has fared throughout the year. Watch full segment here.

Top Stories

Service department performance was mixed in July as both work volume and revenue declined from the previous month.Service department performance was mixed in July as both work volume and revenue declined from the previous month. According to data from Cox Automotive’s Xtime Metrics platform, dealerships saw the number of repair and maintenance orders fall 7.8% from June and 3% from July 2022. As a result, service department volume hit a five-year low for the month. Read More

A new automotive study indicates that car owners are more satisfied with their purchases than they were a year ago.A new automotive study indicates that car owners are more satisfied with their purchases than they were a year ago as manufacturers look for ways to improve the experiences their vehicles provide. As reported by WardsAuto, the American Customer Satisfaction Index (ACSI) Automobile Study 2022-2023 found that car owners rated their happiness with vehicles two points higher in 2023 than in 2022, for an average score of 79. Read More

Anderson Automotive Group expanded its presence in South Carolina with its purchase of several dealerships from MCE Automotive Group.

Anderson Automotive Group expanded its presence in South Carolina with its purchase of several dealerships from MCE Automotive Group. In its second acquisition for the year, the family-owned dealership group bought seven new storefronts in total across Greer, Greenville and Easley. The purchase includes Toyota, Hyundai, Genesis, Nissan, Kia and Chevrolet franchises. Anderson Automotive now has 20 sites across North and South Carolina. Read More

Texas will begin charging electric vehicle owners in the state $200 annually in September, just over a week away.Texas will begin charging electric vehicle owners in the state $200 annually in September, just over a week away. In addition to the charge, electric vehicle owners will be required to pay an additional $200 when they purchase or renew their registration. The controversial fees come at a time of increased EV usage across the country. Although battery-powered cars remain a niche product, legacy automakers have seen demand rise steadily as they launch new models for the U.S. market. Read More

For Dealers

Google vs Bing search: mapping out the differences
Google and Bing are the kings of search in the United States, regardless of what you are searching for. In the world of automotive dealerships, both Google and Bing offer some specific competitive advantages and unique tools which can help car buyers find both the right vehicle and your dealership. We’ll give an unbiased look at what Google and Bing are doing as of August 2023 in regards to driving more vehicle interest to your website and your dealership doors. Read More

Rethinking dealership design for electric vehicles
The automobile industry is attempting a seismic shift. OEMs, at the direction of the government, are not only wanting to change the way we drive but also how we purchase and maintain our vehicles. For dealerships. with the help of OEMs, this means more than just updating inventory—it’s about reimagining the entire showroom experience. Let’s dive into how dealerships can redesign their spaces to cater to the new era of EVs and meet consumer expectations. Read More

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