CBT automotive newscast: December 29, 2020

Today’s Featured Interview:

Is hiring back on the rise for automotive retail professionals? – Adam Robinson, Hireology
Today on CBT News, Jim Fitzpatrick is joined by Adam Robinson, CEO and Co-Founder of Hireology. The company specializes in transcendent hiring software that transforms the recruiting process, finding candidates that fit perfectly in the culture of the organization. Robinson joins the show to discuss the best hiring practices dealers can make when trying to assemble a strong team. Watch the full segment here.

News & Opinion:

J.D. Power says the auto market has seen a 12.2% overall decrease in year-over-year sales through November. The last time the industry saw this steep of a decline was during the Great Recession in 2008 when the sales drop was 8%. While consumers were aided by the March Cares Act in 2020, the second round of stimulus is not expected to recreate the sales spark in the first quarter of 2021. Fox Business reports that “November saw U.S. retail sales fall for the first time in seven months, suggesting consumers are pulling back on spending amid a surging pandemic and expiring federal aid.” Does the 11% decline from October signal a darkened mood from consumers for 2021? And does the downturn in retail sales predict anything for the automotive industry? Read more

Last month, voters in Massachusetts were not only casting ballots for their choice in the Presidential election but also for the Right to Repair Law. The law was passed with 74.9% support. This will require manufacturers that sell vehicles in Massachusetts to become equipped with a standardized open data platform beginning with model year 2022. Vehicle owners and independent repair facilities may access the data platform to retrieve mechanical data and run diagnostics through a mobile-based application. You can read more on how this new law will challenge auto dealers in the state of Massachusetts and the impact it will have on dealers across the U.S. Read more