Thursday, January 28, 2021

DAILY NEWSCAST

The Weekly Automotive Market Minute for January 27, 2021

Welcome to the Weekly Automotive Market Minute with Jim Fitzpatrick: This week’s retail SAAR of new car sales came out to 13.07, an 8.8% increase...

How the automotive retail buy/sell market finished up 2020 – Erin Kerrigan

Kerrigan Advisors, one of the nation's top buy/sell firms in automotive retail, recently released their 2020 Kerrigan Index Year-End Review. On today's show, founder...

Customer satisfaction reaches new heights as online processes advance

Many of us are quick to groan and sigh when tasked with going to a car dealership, but could car buying actually be enjoyable?...

All-time high new vehicle prices a reason to emphasize F&I products

As CBT News has reported previously, the average new vehicle listing price broke through the $40,000 ceiling in December 2020. Throughout the year, average term...
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New Car Sales

How Sonic Automotive and EchoPark plan to keep up their momentum in 2021 – Jeff Dyke, President

Sonic Automotive is coming off a strong year in 2020 as it set records in sales and expanded its EchoPark used-car stores. Today, we...

Rethinking the test drive to unlock new revenue

There’s no doubt COVID-19 accelerated automotive retailers’ digitization efforts. Evolving consumer preferences for personalized, on-demand service that doesn’t require a dealership visit mean the retail environment now...

New and trending phrases customers are saying to auto dealers

The pandemic has shaped how customers are communicating with car dealerships. That’s not just in methodology, like preferring text messages to emails or phone...

How the acceleration of digital retailing will affect the auto industry long-term – Pete MacInnis, eLEND Solutions

Today on CBT News, anchor Jim Fitzpatrick is joined by Pete MacInnis, Founder and CEO of eLEND Solutions. His company offers automotive finance solutions...

TrueCar predicts 16 million new car sales in 2021

Headed into another year of uncertainty, TrueCar is forecasting a healthy increase over 2020’s suppressed auto sales performance, expecting new light vehicle sales in 2021 to...

Used Car Sales & Remarketing

Rethinking the test drive to unlock new revenue

There’s no doubt COVID-19 accelerated automotive retailers’ digitization efforts. Evolving consumer preferences for personalized, on-demand service that doesn’t require a dealership visit mean the retail environment now...

How independent auto dealers have been coping with the COVID-19 pandemic – Louis Tedeschi, NIADA

With the departure of Steve Jordan in September of last year, Louis Tedeschi was named the new president of the National Independent Automobile Dealers...

TrueCar predicts 16 million new car sales in 2021

Headed into another year of uncertainty, TrueCar is forecasting a healthy increase over 2020’s suppressed auto sales performance, expecting new light vehicle sales in 2021 to...

Making ‘profitable reconditioning’ an integral component of your dealership’s used vehicle acquisition strategy in 2021

Nearly every used car manager in the country uses software and data to make smart decisions when it comes to buying a used vehicle....

With remote sales here to stay, salespeople need to be strong in four areas

According to V12’s compiled data, four in five car buyers want to configure a payment online to begin their journey toward purchasing a vehicle. Research...

Dealer interviews

How Sonic Automotive and EchoPark plan to keep up their momentum in 2021 – Jeff Dyke, President

Sonic Automotive is coming off a strong year in 2020 as it set records in sales and expanded its EchoPark used-car stores. Today, we...

Jim Ellis Auto Group CEO Jimmy Ellis gears up for their annual Holiday Giving Campaign

The holidays are very difficult for many families. Some face economic hardships and others face the loneliness of missing loved ones. The holidays are...

How to build a strong culture at any car dealership regardless of size or volume – John F. Bergstrom

With 16 dealerships named to Automotive News' 'Best Places to Work', Bergstrom Automotive had the most dealerships to make the list. On today’s show,...

How to build and sustain a strong company culture at your dealership – Alex Casebeer, Capitol Subaru

For the seventh year in a row, Capitol Subaru was named one of the best dealerships to work for by Automotive News. Building the...

Leveraging innovation to create a frictionless customer experience – Brian Benstock

After several dealers experienced strong months during July and August, many auto retailers are wondering what to expect in the future. Brian Benstock, partner...

Marketing/Advertising

4 automotive marketing essentials car dealers should prioritize this year – John Fitzpatrick, Force Marketing

Today on CBT News, John Fitzpatrick, CEO of Force Marketing, joins the show to reflect on marketing in 2020. He also looks ahead to...

General Motors CMO Deborah Wahl discusses the automaker’s transition to an all-electric future

General Motors has recently rolled out a new logo and rebranded website as part of its "Everybody In" campaign which highlights its corporate transformation...

CBT News launches its NADA High Media Impact Package for companies that want to connect with dealers

For more than eight years, CBT News has been working to build strong relationships with dealers across the country. Whether it’s through reporting daily...

Facebook & PureCars joint-study reveals key social marketing findings for car dealers

Measuring and attributing social media marketing campaigns to offline sales is often tricky for car dealers. Recently, a joint study ran by Facebook and PureCars, focused...

The role technological innovation will continue to play in 2021 for car dealers – Bill Reidy, LotLinx

Today on CBT News, we're pleased to welcome the new Chief Revenue Officer of LotLinx, Bill Reidy, to the show. In this segment, Reidy...

How to power dealership results with AI-driven consumer engagement – Gary Marcotte & Guy Super, Outsell

As well all know, the COVID-19 pandemic has changed the way businesses, including car dealerships, operate on a national level. Many of the automotive...

association News

How independent auto dealers have been coping with the COVID-19 pandemic – Louis Tedeschi, NIADA

With the departure of Steve Jordan in September of last year, Louis Tedeschi was named the new president of the National Independent Automobile Dealers...

WANADA Pres. John O’Donnell weighs in on recent political turmoil and how. D.C. dealers are being affected

After the recent violent attack on the U.S. Capitol building, all eyes have been on Washington D.C. as the new Biden Administration takes office....

AIADA President Cody Lusk on how the Biden Administration will likely impact the auto industry

As the COVID-19 pandemic persists, and the Biden administration enters the White House, many dealers are curious to know how new government leadership will...

Why Minnesota car dealers are fighting a new administrative rule regarding emissions standards – Scott Lambert, MADA

Minnesota car dealers were in federal court last week to fight a proposed change to the state’s emissions rules for new automobiles. The regulations...

NAMAD President Damon Lester shares his bold agenda for 2021

2020 was a rollercoaster year for many minority dealers. To continue the conversation regarding diversity in automotive and to look ahead at 2021, we...

GNYADA’s Mark Schienberg reviews the highs and lows NY dealers experienced during COVID-19

Today on CBT News, Mark Schienberg, President of the Greater New York Automobile Dealers Association, joins the show to discuss a recent audit report...

Fixed Ops

Seamless mobile experience in service a customer expectation in 2021

Smartphone use in the United States has increased in recent years to 81% of the total population. For those earning more than $50,000 annually,...

Cox Automotive expands its Pivet network with the acquisition of Dickinson Fleet Services

Cox Automotive recently announced its acquisition of Dickinson Fleet Services, one of the country's leading mobile maintenance providers for medium and heavy-duty trucks as...

Massachusetts right to repair update adds challenge for auto dealers

On Nov 3, voters in Massachusetts were casting ballots for more than just their choice of presidential candidate. Also included on the ballot was...

Is your dealership capitalizing on the revenue opportunities from service recalls?

On today’s show, we’re pleased to host a special Kelley Blue Book roundtable featuring Jade Terreberry, Director of Analytics for Cox Automotive, and Juan...
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OEM & Industry News

How the automotive retail buy/sell market finished up 2020 – Erin Kerrigan

Kerrigan Advisors, one of the nation's top buy/sell firms in automotive retail, recently released their 2020 Kerrigan Index Year-End Review. On today's show, founder...

Automotive Ventures CEO Steve Greenfield breaks down the major themes of 2020

On today’s show, we’re pleased to welcome Steve Greenfield, CEO and founder of Automotive Ventures. Greenfield specializes in advising founders, owners, and CEOs on...

EV owners likely to go electric again, says J.D. Power research

J.D. Power conducted an initial survey of American electric car buyers to determine their satisfaction. Their findings discovered that more than 4 out of...

Twitter Feed


F & I / leasing

All-time high new vehicle prices a reason to emphasize F&I products

As CBT News has reported previously, the average new vehicle listing price broke through the $40,000 ceiling in December 2020. Throughout the year, average term...

How the acceleration of digital retailing will affect the auto industry long-term – Pete MacInnis, eLEND Solutions

Today on CBT News, anchor Jim Fitzpatrick is joined by Pete MacInnis, Founder and CEO of eLEND Solutions. His company offers automotive finance solutions...

Is now the right time to try upfront F&I pricing?

Many years ago, Carmax stormed into the automotive space with the ‘no haggle’ price. What you see on the window sticker is it...no negotiation,...

How to become more profitable in the F&I office with virtual services – Scott Gunnell & Mike Casey, JM&A

Today on CBT News, anchor Jim Fitzpatrick is joined by Scott Gunnell, group vice president of business strategy at JM&A Group, and Mike Casey, group...

Tips to handle bad online reviews for F&I

Think about the last time you bought anything online. What did you do first? You probably started with Google (as we all do) or...

Management & Leadership

Customer satisfaction reaches new heights as online processes advance

Many of us are quick to groan and sigh when tasked with going to a car dealership, but could car buying actually be enjoyable?...

10 retail predictions all business owners should prepare for – Shep Hyken

On today's show, we’re pleased to welcome back Shep Hyken, customer experience expert, acclaimed speaker, and New York Times best-selling author. Hyken's work includes...

Super Bowl champion Gary Brackett on the importance of positive influence from leadership

From the spotlight of the gridiron to the spotlight of stages across the country, Gary Brackett has found tremendous success throughout his career. Brackett...

Five things to consider if you are thinking about selling your dealership

The COVID-19 pandemic has led to significant interruptions in the automotive industry. However, while the move to online sales and additional services like car delivery has...
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Network Shows

How to engage more effectively with consumers and build trust during transactions

In the latest episode of F&I Today, Lloyd Trushel joins Jim Fitzpatrick to discuss the latest F&I trends across the industry. Trushel is an...

How simple Facebook auto marketing practices can build consumer excitement

On this episode of Kain & Co., host David Kain shares the information he has learned from his company’s recent 16th Annual Kain Clients...

7 ways to increase your dealership website’s local organic search optimization

In this episode of Auto Marketing Now, host Brian Pasch discusses search engine optimization and the problems that he often finds while auditing dealership...

High automotive company valuations continue to drive a busy M&A market

Welcome to another edition of The Friday 5 with Steve Greenfield, Founder and CEO of Automotive Ventures, an auto technology advisory firm that helps...

Why your dealership should put an end to trial closes

On this edition of Straight Talk, our host, David Lewis, shares with us his lastest car buying experience. About 30 days ago, Lewis decided...

4 strategies to get the maximum effort from your entire team

As the new year begins, dealers are looking to get maximum effort from their entire team. Celebrated trainer, speaker, and CEO of DealerPRO Training,...

Areas of opportunity for auto dealers to increase their personal and business development

Welcome to another edition of Mind Your Own Business with Jonathan Dawson, automotive training expert and the founder of Sellchology, an automotive sales tool...

Selling Your Personality

 Focusing on being unique and different from what the customer expects from a salesperson is very beneficial. On today's Saturday Morning Sales Meeting, David Lewis...

Discovery Loft founders Stephen Southin & Brian Steinhauser discuss their entrepreneurial drive

On this episode of Founder Focus with Steve Greenfield, we hear from Stephen Southin and Brian Steinhauser Co-CEOs and Co-Founders of the Toronto-based company,...

SPECIAL FEATURES

Nov. Kerrigan Report: Buy-Sell transactions up 16% year-over-year

On the latest Kerrigan Report for the month of November, Ryan Kerrigan, Managing Partner of Kerrigan Advisors joins CBT News to discuss the latest...

Why the automotive industry needs to continuing having productive conversations around diversity

Welcome back to Diversity in Automotive, brought to you by TrueCar and CarNow. In the finale episode of this amazing series, host Cory Mosley...

CBT News Market Update: Todd Skelton, Prime Automotive & Neal Gann, LotLinx

Welcome to another edition of the CBT News Market Update. To quickly recap this week’s numbers, the retail SAAR of new car sales came out...

Selling Your Personality

 Focusing on being unique and different from what the customer expects from a salesperson is very beneficial. On today's Saturday Morning Sales Meeting, David Lewis...