Featured Interview:
What motivated The Suburban Collection to make the decision to sell to Lithia? – George Karolis, The Presidio Group
As first reported by CBT News, Lithia Motors has acquired Michigan’s Suburban Collection. This transaction marks one of the largest dealership acquisitions in the past decade. Although details of the sale have not been disclosed, CBT News is providing insight from the deal with George Karolis, President of The Presidio Group, who advised The Suburban Collection on this sale. Watch the full segment here.
Top Headlines:
Porsche AG has made plans to launch its own plant to build battery cells for electric vehicles. The battery-building facility will help Porsche meet tougher environmental rules in both the European Union and the United States. The plant will be built in the southern German town of Tuebingen. Porsche will purchase EV batteries from its parent company, Volkswagen, which plans to build half a dozen battery cell plants across Europe, while it also looks to expand infrastructure for charging EVs globally.
Mark Phelan, columnist for the Detroit Free Press, and recent guest on CBT News, had the opportunity to take a test drive in the all-new Jeep Wrangler 4XE. The 4XE is Jeep’s first vehicle with electric capabilities in the U.S.. The off-road SUV is a plug-in hybrid which uses a gasoline-powered engine for long trips and a battery for shorter trips. Phelan was impressed with his drive, writing, “the Wrangler 4XE has game.” Phelan said the hybrid Jeep performed admirably both off-road and on the highway.
General Motors is changing its approach to diverse media relationships after coming under fire. Last month, black-owned media executives called out the automaker in prominent ads last month. GM recently announced an action plan, in which the company plans to double its commitment for spending with black-owned media from 2% in 2021 and 4% by 2022 with a goal of reaching 8% by 2025. The company also announced that it is planning a diverse-owned media summit on May 14th, and it has started a diverse marketing incubator fund, with plans to give $50 million over a 10-year period to support and scale diverse marketing companies.
Elon Musk has been announced by NBC as an upcoming host of Saturday Night Live. Musk will host the show on May 8th with Miley Cyrus as the musical guest. After the announcement was made public, the Tesla CEO tweeted, “Hosting SNL on May 8. Let’s find out just how live Saturday Night Live really is.”
News & Opinion:
Ways to effectively market your dealership
Marketing and advertising your dealership can sometimes get complicated. Do you do TV commercials or YouTube? Is online important, or should you ignore it? What about the budget? Often, effective marketing isn’t about traditional marketing at all. It’s about who you are and what the customer experiences when they contact you. Let’s look at that and some conventional marketing ideas that can assist you in building a foundation while you spend the big ad dollars in being the go-to place for an automotive purchase. Read More
Six high-performing silent superpowers
What would it mean to you as a leader to consistently perform at or near your best? And what if you could learn to influence your team and family to do the same? There are six key silent superpowers that we can all tap into that will help us perform at another level on a regular basis. Read More
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