CBT automotive newscast: March 24, 2021

Featured Interview:

NIADA CEO Bob Voltmann on how independent dealers are managing strong demand for used vehicles
Independent dealers face many unique challenges in the used-vehicle market. Today on CBT News, host Jim Fitzpatrick is joined by Bob Voltmann, CEO of the National Independent Automobile Dealers Association (NIADA). Voltmann joins the show to provide an update on the association, to discuss the obstacles independent dealers overcame in 2021, and to preview the association’s upcoming live, in-person conference and expo. Watch the full segment here.

Top Headlines:

New data from Experian has shown that Tesla continues to grow at a rapid pace in the U.S. new-vehicle registrations for the EV maker grew 18% in January year-over-year. Registrations have also increased 45% on a rolling three-month basis, measured from November 2020 through January 2021.

Ford has retained the top spot in U.S. auto production in 2020. According to IHS Markit’s 2020 light vehicle production and sales data, Ford produced 1.7 million vehicles in the U.S. in 2020, nearly 190,000 more than the next closest automaker.

The global microchip shortage is beginning to impact production of the popular, Ram 1500 classic. According to a statement from Stellantis, the trucks are being built and held at the company’s truck assembly plants in Michigan and Mexico. The automaker didn’t specify how many vehicles are being held but said it would finish building the trucks when the parts are available again. Stellantis hopes to deliver the trucks to Ram dealers in a few weeks.

One of the jeep’s new concept vehicles is catching the eyes and attention of consumers. The Jeepster Beach has elements of the modern Wrangler and the vintage 1968 Jeepster Commando. Jeep plans to unveil the concept vehicle at its annual Easter Jeep Safari event in Utah taking place March 27 through April 4.

News & Opinion:

5 Tips for acquiring pre-owned vehicle inventory
As a dealer that sells pre-owned vehicles, apart from customer acquisition, inventory acquisition is always front of mind. Throughout the past year, auctions have seen an increase in demand, and sites like Manheim and ADESA have had fewer vehicles on their run sheets. The dearth of inventory and the increasing competition for available inventory necessitates a change in approach. Buying cars off the street should be where you shift significant focus. Read more

Gender equity still a concern in auto industry
March 24, 2021 is the National Equal Pay Day in the US, highlighting the discrepancies in earnings between men and women who perform the same roles. In the automotive industry, there have been substantial advancements in recent years, but there continue to be inequities both in pay and in terms of the opportunities afforded to women. A study by Catalyst.org discovered that of the American workforce, women comprised nearly half yet less than 24% of jobs in motor vehicle and equipment manufacturing were women in 2019. In auto dealerships, it’s even lower – 17.9% of dealership staff are female while only 9.9% are employed in automotive repair and maintenance positions. Read more