Stellantis dealers prepare for EV rush in 2024

Stellantis dealers prepare for EV rush in 2024 https://ift.tt/72haXZM

With the first Stellantis EVs arriving this year, dealerships have to meet training requirements for sales associates, technicians, service advisers and management.

Federal Reserve leaves interest rates unchanged, says more 'confidence' needed in inflation slowdown before cuts

Federal Reserve leaves interest rates unchanged, says more 'confidence' needed in inflation slowdown before cuts https://ift.tt/G3c7QoT

For the auto industry, interest rates remain top of mind for franchised dealerships.

Toyota global EV sales quadruple in 2023, still big gap with goal

Toyota global EV sales quadruple in 2023, still big gap with goal https://ift.tt/akoGuJn

Toyota sold 104,018 EVs worldwide last year, but the automaker has a long way to go before it reaches its target of selling 1.5 million in 2026.

Guest commentary: Is AI-powered GPT a friend or foe?

Guest commentary: Is AI-powered GPT a friend or foe? https://ift.tt/SCwZRDf

Even as the automotive software industry races to embrace GPT, a closer look reveals a lack of true innovation in these new tools.

BYD faces key decisions in growing European market share

BYD faces key decisions in growing European market share https://ift.tt/4JayNdc

BYD is having an internal debate about which products, brands and powertrains to launch in Europe, where it will soon open a car plant in Hungary.

Column: NADA Show is like the Super Bowl of auto retail

Column: NADA Show is like the Super Bowl of auto retail https://ift.tt/tvuJbxH

NADA Show 2024, coming up in a few days, is akin to automotive retail's Super Bowl, a mix of meetings, mingling, music, demonstrations, drinking and dancing.

Column: Even an imperfect salary survey uncovers important truths

Column: Even an imperfect salary survey uncovers important truths https://ift.tt/rg18C4i

Respondents with decades of experience were overrepresented, but the bottom-line takeaways are still useful.

Editorial: EV startups' sales path show value of auto dealers

Editorial: EV startups' sales path show value of auto dealers https://ift.tt/ioOFvd5

EV startups Fisker and VinFast are abandoning direct sales in favor of the tried-and-true franchise dealership model.

NADA Chairman Geoffrey Pohanka looks back on his tenure

NADA Chairman Geoffrey Pohanka looks back on his tenure https://ift.tt/7wSIo02

Direct-to-consumer sales, fuel economy legislation and the Federal Trade Commission's CARS Rule were just some of the issues the outgoing NADA chairman faced in 2023.

Guest commentary: While recall repair rates have improved, much work remains

Guest commentary: While recall repair rates have improved, much work remains https://ift.tt/xjcvRs5

Dealers need to know immediately, and with certainty, if a vehicle in their inventory has an open recall.

Conn. dealership target of lawsuit by former service manager they sued for leaving

Conn. dealership target of lawsuit by former service manager they sued for leaving https://ift.tt/0xHaNSi

After service manager Brent Mattson resigned from Central Hyundai in Plainfield, Conn., to join a rival dealership, his ex-employer sued him.

New-car sales rebound sharply in first weeks of January

New-car sales rebound sharply in first weeks of January https://ift.tt/4UBn0MV

Some 1.23 million sedans, crossovers, SUVs and multipurpose vehicles were delivered across China in the first three weeks of January, the China Automobile Dealers Association said.

Reduced hours to stay at some car dealerships, owners say

Reduced hours to stay at some car dealerships, owners say https://ift.tt/ZfORcNX

Dealership owners say clipping just an hour or so a day — which many did during the COVID-19 pandemic and have since continued — has aided employee turnover and morale.

Automotive News Dealership Compensation Calculator

Automotive News Dealership Compensation Calculator https://ift.tt/OdI4DZw

See how your pay stacks up against the expected 2023 incomes of other U.S. auto retail employees and managers.

BYD tops VW as China's No. 1 selling car brand in 2023

BYD tops VW as China's No. 1 selling car brand in 2023 https://ift.tt/pHM81jw

VW had been China’s best-selling brand since at least 2008, when industry data first became available.

E-commerce used-vehicle retailer Vroom to cease operations

E-commerce used-vehicle retailer Vroom to cease operations https://ift.tt/AfEW1Je

Online used-vehicle retailer Vroom Inc. said it will wind down its e-commerce operations and used-vehicle dealership business.

Column: Could you do better? Check out the Automotive News Dealership Salary Survey results

Column: Could you do better? Check out the Automotive News Dealership Salary Survey results https://ift.tt/GitzCNH

and a partner firm surveyed more than 1,000 U.S. auto retail professionals from Aug. 1, 2023, to Oct. 26, 2023, in our inaugural car Dealership Salary Survey. The findings provide details on auto dealership pay and benefits for supervisors and employees.

2024 Automotive News Dealership Salary Survey highlights

2024 Automotive News Dealership Salary Survey highlights https://ift.tt/3Zb6Ngn

Reclusive billionaire dealer Terry Taylor speaks

Reclusive billionaire dealer Terry Taylor speaks https://ift.tt/ks8xliO

One source compared the billionaire to Batman. 'You hear about him and you admire his work, but nobody has really ever seen him in real life.'

Hunter to expand Ultimate ADAS calibration system beyond Honda, Acura

Hunter to expand Ultimate ADAS calibration system beyond Honda, Acura https://ift.tt/o7iZEmW

Pete Liebetreu, executive at Hunter Engineering, talks about a potential role for AI in tire and wheel services and what the company will unveil at NADA Show.

Hunter to expand Ultimate ADAS calibration system beyond Honda, Acura

Hunter to expand Ultimate ADAS calibration system beyond Honda, Acura https://ift.tt/3edLAHr

Pete Liebetreu, executive at Hunter Engineering, talks about a potential role for AI in tire and wheel services and what the company will unveil at NADA Show.

Backlog at new-car stores drops for 3rd straight month

Backlog at new-car stores drops for 3rd straight month https://ift.tt/ahOy2gf

Stockpiles at new-car dealerships dipped to a 36-day supply on average in December from 43 days a month earlier, as vehicle demand accelerated at year end, the China Automobile Dealers Association said.

American Honda targets 1.4 million sales in 2024

American Honda targets 1.4 million sales in 2024 https://ift.tt/VZgUwsx

American Honda expects to sell 1.4 million vehicles in 2024 between its Honda and Acura brands, and will launch four electrified products this year as well as a new, entry-level Acura crossover.

'24 focus for Volvo dealers: Profit margin, EV transition

'24 focus for Volvo dealers: Profit margin, EV transition https://ift.tt/r7lEDOH

Volvo retailers would like to see a greater focus on plug-in hybrids.

Lamborghini topped 10,000 sales last year for first time, CEO says

Lamborghini topped 10,000 sales last year for first time, CEO says https://ift.tt/q4GkHou

Lamborghini delivered a total of 10,112 sports cars and SUVs last year, up from over 9,200 vehicles in 2022.

Service advisers need more EV training

Service advisers need more EV training https://ift.tt/sAgmjpi

One piece of data in the Duker Carlisle research should be especially heeded by fixed ops leaders because it involves a new area of adviser training never covered in the past — how to answer questions about EVs.

2023 U.S. sales: Who’s up, who’s down

2023 U.S. sales: Who’s up, who’s down https://ift.tt/ncirFO7

With COVID-19 disruptions, the microchip shortage and other supply snags now largely in the rearview mirror, U.S. auto sales rebounded to the highest level since 2019.

Polestar misses target for 2023 deliveries

Polestar misses target for 2023 deliveries https://ift.tt/BqAK1vT

Elevated interest rates to tame stubbornly high inflation resulted in weak demand for Polestar's luxury vehicles, as buyers flocked toward lower-priced alternatives.

Lucid Q4 deliveries fall 10 percent; stock plummets

Lucid Q4 deliveries fall 10 percent; stock plummets https://ift.tt/FfwicQx

The EV startup reported 1,734 deliveries in the most recent quarter and full-year sales of 6,001. Lucid has repeatedly cut its production forecasts amid weak demand for its luxury Air sedan.

Vehicle output, shipments in 2023 top 30 million, set records

Vehicle output, shipments in 2023 top 30 million, set records https://ift.tt/Iu0137D

Vehicle shipments industrywide jumped 24 percent to 3.16 million in December, with 2023 volume rising 12 percent to a record 30.09 million, the China Association of Automobile Manufacturers said.

Used-vehicle market expands 15% in 2023

Used-vehicle market expands 15% in 2023 https://ift.tt/DxvtQL8

Sales of used light vehicles in China rose 17 percent to 1.34 million last month, the China Automobile Dealers Association said, with 2023 volume up 15 percent to nearly 14.8 million.

Ga. dealership accused of denying former collision center director medical leave

Ga. dealership accused of denying former collision center director medical leave https://ift.tt/hjBH7Es

A former collision center director has filed a disability discrimination and retaliation suit against a Georgia dealership claiming he was wrongfully denied medical leave.

Inventory rises to three-year high

Inventory rises to three-year high https://ift.tt/MupkQvX

New-vehicle inventory levels in the United States climbed by 200,000-plus vehicles in December to more than 2.7 million, the highest in three years, according to data from Cox Automotive.

Lawsuit: Ohio dealership forged customer's signature on niece's financing documents

Lawsuit: Ohio dealership forged customer's signature on niece's financing documents https://ift.tt/g2ihktn

A customer has sued a Bedford, Ohio, dealership for allegedly forging her signature on another customer's sales and financing documents.

Billie Jean Ellis, co-founder of Jim Ellis Automotive, dies at 89

Billie Jean Ellis, co-founder of Jim Ellis Automotive, dies at 89 https://ift.tt/0SIrfHs

Billie Jean Ellis co-founded the group with her husband, Jim Ellis.

GM's sales drop in 2023; U.S. biggest market once again

GM's sales drop in 2023; U.S. biggest market once again https://ift.tt/j6cNQUA

After peaking at 4 million in 2017, GM’s China sales have steadily dropped by nearly half.

The new normal: Stagnant domestic demand, surging exports

The new normal: Stagnant domestic demand, surging exports https://ift.tt/07s4xRV

Annual vehicle shipments in China will reach a record high of 30 million in 2023, the China Association of Automobile Manufacturers predicts. But growth is largely being driven by exports rather than robust domestic demand. 

Penske feature leaves out other contributions

Penske feature leaves out other contributions https://ift.tt/3bO5p9h

While it was great to see Roger Penske featured in your all-stars list, you missed his contribution to the dealer network.

Column: Internet pranksters could dampen dealership embrace of ChatGPT

Column: Internet pranksters could dampen dealership embrace of ChatGPT https://ift.tt/x89U6gM

A prankster attack on dealership websites was more silly than serious. But what about next time?

Big December finish gives automakers fresh hope for 2024, despite headwinds

Big December finish gives automakers fresh hope for 2024, despite headwinds https://ift.tt/I9yeWw2

U.S. auto sales grew 9.2 percent in the fourth quarter to finish the year up 13 percent to 15.6 million. Optimistic automaker executives see growth continuing in 2024 as inventories improve and incentives grow.

Improve job satisfaction and service adviser retention by providing more training

Improve job satisfaction and service adviser retention by providing more training https://ift.tt/UrQzSjI

If dealerships want to improve service adviser job satisfaction and retention, consultant A.J. Holst says one important puzzle piece is more training.

The new normal: Stagnant domestic demand, surging exports

The new normal: Stagnant domestic demand, surging exports https://ift.tt/s9gX6Yp

Annual vehicle shipments in China will reach a record high of 30 million in 2023, the China Association of Automobile Manufacturers predicts. But growth is largely being driven by exports rather than robust domestic demand. 

The new normal: Stagnate domestic demand, surging exports

The new normal: Stagnate domestic demand, surging exports https://ift.tt/6GHNpES

Annual vehicle shipments in China will reach a record high of 30 million in 2023, the China Association of Automobile Manufacturers predicts. But growth is largely being driven by exports rather than robust domestic demand. 

SUBARU: Sales rise 6% in Q4 on improved inventories

SUBARU: Sales rise 6% in Q4 on improved inventories https://ift.tt/l8KydnR

Subaru sales rose 6 percent in the fourth quarter to 164,862, and were up 14 percent for the year to 632,086.

More consumers opted for shorter car loans with lower interest

More consumers opted for shorter car loans with lower interest https://ift.tt/PLimlUW

More than one-tenth of consumers continued to take out shorter loans on new cars in the third quarter in search of lower interest rates, Experian said Nov. 30.

Guest commentary: How auto retailers are using connected vehicle data for lot management solutions

Guest commentary: How auto retailers are using connected vehicle data for lot management solutions https://ift.tt/wm9yT8H

These solutions are leveraging new data technologies to help reduce costs, improve customer experience and enhance efficiency as well as safety in inventory operations, leading to increased profitability.

VinFast opens first U.S. dealership with Leith Automotive Group in N.C.

VinFast opens first U.S. dealership with Leith Automotive Group in N.C. https://ift.tt/k9XTfsG

The Vietnamese EV maker's first franchised store opened in late December in Cary, N.C., marking the first step toward a national dealer network. The company sells direct to consumers in California, its first U.S. market.

BYD posts record quarter to challenge Tesla for EV sales lead

BYD posts record quarter to challenge Tesla for EV sales lead https://ift.tt/N5Q3sZg

BYD's vehicle sales were helped by aggressive end-of-year discounting.

Geely sets 2024 sales target at 1.9 million

Geely sets 2024 sales target at 1.9 million https://ift.tt/q2xy56K

Geely said it sold 1.69 million vehicles in 2023, up 18 percent from 2022.