Inside Automotive
Mississippi House Bill 401: what the new franchise law means for dealers – Marty Milstead | Daniel Sparks
Recently, Mississippi Governor Tate Reeves signed a bill into law which places restrictions on electric vehicle manufacturers in the state. On this episode of Inside Automotive, Marty Milstead, the President of the Mississippi Automobile Dealers Association and Mississippi State Senator Daniel Sparks join host Jim Fitzpatrick to discuss House Bill 401, and what it means for dealers. Watch full segment here.
Top Stories
According to General Motors’ first quarter report, the company’s Q1 sales grew by 17.6% year-over-year. GM’s total U.S. sales reached 603,208 units, over 90,000 more than it sold one year before. The automaker’s EV sales rose to an all-time high of 20,000, mostly driven by the Chevrolet Bolt. Steve Carlisle, GM executive vice president and president of North America, commented that the company was off to a great start as it heads “into a busy season of new product launches.” Read More
Stellantis’ U.S. sales dropped 9% in Q1, a decrease of more than 36,000 vehicles. While brands Chrysler and Dodge saw modest gains, the automaker’s other labels, such as Ram, Jeep and Fiat, experienced declining sales throughout the first quarter. With a 59% drop, Fiat suffered the most, followed by Alpha Romeo and Jeep. The only Jeep product to see higher sales was the Cherokee SUV. Stellantis recently ended production of the vehicle after closing its factory indefinitely. Read More
Toyota’s first quarter sales declined 8.8% year-over-year, according to the company’s most recent report. Last month’s sales dipped 9.1% from the previous year in the U.S. to a total of 176,456 units. From January through March, the automaker sold 469,558 units, 25.3% of which were electric. Jack Hollis, Executive Vice President of Sales at Toyota Motor North America, noted that the brand’s selection of 22 EVs was the largest of any other automaker, and offered customers “a choice that fits their lifestyle, pocketbook and needs.” Read More
Ford’s first quarter sales rose 10% year-over-year, driven in part by the brand’s F-series pickups. The company’s total Q1 sales hit 475,906 units by the end of March, 170,377 of which were trucks. The Bronco and Explorer SUVs saw significant increases, gaining 38% and 36% respectively. The automaker’s EV sales hit 10,900, an increase of 41%. Last year, Ford’s recovery lagged behind other brands, as it missed its targets in Q4. Read More
For Dealers
U.S. auto sales defy economic headwinds in first-quarter of 2023
Amid an uncertain economic outlook, the automotive industry has much to be optimistic about with March’s auto sales performance. With year-over-year new vehicle gains and most major automakers seeing growth, the present looks bright. What is the margin of success, and which automakers benefit from the positive headwinds? Take a look at March’s 2023 auto sales results. Read More
Online reviews can’t be ignored – tips to get more (and better) reviews for F&I
We all rely on ‘social proof’ to help us know where to spend our hard-earned dollars. Name one business or product you have considered in the past few months and think about how many online reviews you looked at. Before trying that new restaurant or that new oil change place down the street. We all do it. Your dealership and more specifically, your F&I department, should have this as a focus when looking to increase positive online reviews. Yes…F&I will be reviewed, too. Read More
