CBT automotive newscast: July 1, 2021

Featured Interview:

Premier Automotive Group’s Troy Duhon discusses his unique approach to acquiring used cars
The inventory shortages that automotive retail is facing have forced many car dealers to become more creative in the way of sales and acquisitions. Joining us today is Troy Duhon, Founder and Owner of Premier Automotive Group, to discuss what business currently looks like from his perspective, and what people can expect from the market for the rest of 2021. Watch the complete segment here.

Top Headlines:

Detroit automakers and the United Auto Workers union are easing COVID-19 restrictions for some of their employees. Starting July 12, fully vaccinated workers will not have to wear a mask at U.S. factories. Additionally, employees will not be required to show proof of vaccination. Those who have not been vaccinated, are still required to wear a mask. Of their 153,000 employees, the U.A.W. declined to say how many of their members were vaccinated.

The N.H.T.S.A. is now requiring automakers with automated driving technology to submit mandatory crash reports within 24 hours of any incident. This includes any car loaded with a technology ranked at level 2 through level 5. According to N.H.T.S.A. “this action will help the agency play a role in keeping Americans safe on the roadway.” With this transparency, the NHTSA hopes to collect data to prevent potential safety concerns or defects in the future.

The stock market has declared Tesla as the ‘winner’ of mass EV production, according to one expert analyst. Tradinganalysis.com Founder Todd Gordon told CNBC that while competitors of Tesla will certainly gain more market share, “the one who has the most data will be victorious.” Other analysts agree that Tesla stock will remain strong and over-ride the competition in the long term.

Bob Johnson Auto Group has acquired all nine Dorschel Automotive Group dealerships in the greater Rochester area, for an undisclosed amount. This deal adds nine new brands to Bob Johnson Auto Group, making it one of the largest family-owned dealer groups in the U.S. the group has also retained all Dorschel employees and has announced 50 additional openings.

News & Opinion:

Bob Johnson Auto Group expands with acquisition of Dorschel Automotive Group
On Tuesday, Bob Johnson Auto Group announced that they’ve purchased all nine dealerships in the Dorschel Automotive Group. The Dorschel dealerships are all located along W Henrietta Blvd in Rochester, NY and are interspersed with many of the stores in the Bob Johnson group already. The sale adds a handful of high-volume brands to their banner including Toyota, Volkswagen, Nissan, and Kia as well as premium or niche brands such as Infiniti, Lexus, Maserati, Alfa Romeo, and MINI. Dorschel’s pre-owned store is also included. Read more

National Tire Safety Week offers service departments the perfect opportunity
The U.S. Tire Manufacturers Association set this year’s dates for National Tire Safety Week as June 28 through July 4. If you ever wanted to maximize tire sales at your dealership, now is the time. Here are a few steps you can make this week. From the second your customers walk through the door, they should be able to see that you sell tires. You can throw a four-tire quad display at the front of the service drive, add an easel board talking about tires and throw up some banners. Read more