Used vehicle inventory update, Stellantis completes acquisition, Ford gets news EV manufacturing partner

Inside Automotive:

Matt Easton on the importance of having effective time management skills
On today’s episode of Inside Automotive, Matt Easton, sales trainer, consultant, and founder of Easton University joins us to discuss time management strategies. Time management, specifically in sales, is a life skill that develops into a lever that never goes away. Therefore, time is the most valuable resource when the economy deteriorates. However, most people believe that time is very valuable, but they don’t believe it should be micromanaged. Watch the complete segment here.

Headlines:

According to a Cox Automotive analysis of vAuto available inventory data, used-vehicle asking prices decreased during the month of October to their lowest average since April as inventory matched pre-pandemic levels. At the end of October, there were 2.44 million unsold used vehicles on dealer lots nationwide, including those run by independent and franchised dealers. Read More

Yesterday, carmaker Stellantis announced that it had reached an agreement to acquire aiMotive, a company based in Hungary that develops advanced artificial intelligence and autonomous driving software. In order to advance its technology development efforts. The agreement supports the goal of generating $20 billion in additional annual revenue from software-enabled product offerings and subscriptions by 2030. Read More

Ram is recalling 280,000 heavy-duty diesel trucks worldwide due to fire risks. 2020-2023 Ram 2500 and 2020-2022 Ram 3500 trucks are affected. The problems stem from the built-up pressure and heat inside the transmission causing fluid leaks that could start a vehicle fire. 16 vehicle fires and one serious injury have been reported by the company, but no crashes. Read More

Ford has a new partner to help it overcome EV manufacturing bottlenecks and meet the overwhelming demand for zero-emission models as the race to gain market share for electric vehicles heats up. On November 16, Rockwell, a leading provider of industrial automation, was selected to ensure Ford’s upcoming three EV assembly lines will speed up EV rollout. Through this collaboration, Ford hopes to surpass Tesla by maximizing its manufacturing capabilities and workflow. Read More

News & Opinion

CU’s share of auto lending increasing — How to compete in F&I
“I have my loan already handled with my credit union.” There is not an F&I Manager on the planet that enjoys hearing that from a customer. Credit unions have been the surprising life preserver for millions of buyers who no longer have favorable captive financing deals available. How do we know this? Recent data over the last couple of months has shown that the credit union share of both new and used auto loans has increased to its highest first quarter percentage in 5 years. Read More

4 vital ways you can further improve gross profit percentage
Of the KPIs your dealership must focus on, gross profit percentage should never be overlooked. To improve the gross profit percentage, your service department must do more than simply add more work to the repair order, although this can be part of the equation. While we will examine this option, we will look at a few more innovative ways you might not have thought about. Read More

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