Inside Automotive
Better inventory, bigger prices: what Q1 says about the 2023 car market – Charlie Chesbrough | Cox Automotive
The car market’s strong first-quarter performance surprised many auto industry analysts who expected demand and production to remain suppressed well into the year. However, dealers still have many questions about what this means for their businesses and whether the positive trends are here to stay. On this episode of Inside Automotive, CBT News anchor Jim Fitzpatrick sits down with Charlie Chesbrough, Senior Economist and Senior Director of Industry Insights at Cox Automotive, to discuss the Q1 results and the implications for the future. Watch the full segment here
Top stories
With the 2024 Chevrolet Blazer EV going on sale this summer, General Motors has announced that it will stop supporting CarPlay and Android Auto. Instead, a built-in system will provide drivers with more features than the current iPhone technology. Read More
Piper Sandler believes that in order to compete with Tesla, Rivian, an EV manufacturer, must address finance issues. On Thursday, April 13, the company lowered Rivian from overweight to neutral. Additionally, Piper reduced its price target from $63 per share to $15 per share. The new target indicates a little increase from the close on Thursday. Read More
Electric vehicle brand Lucid revealed its quarterly production and sales numbers, shedding light on the automaker’s struggle to build a following. On Thursday, the automaker announced a first-quarter production total of 2,314 units, down approximately 34% from Q4 2022. In February, Lucid set a full-year target of 10,000 to 14,000 vehicles, well below analyst expectations but higher than the previous year’s total of 7,180. Read More
First-quarter data on U.S. manufacturing showed increased production, despite a slight dip reported in March. Although manufacturing accounts for just over a tenth of the U.S. economy, its rate of production has implications for many industries. Typically, less output coincides with a decrease in demand since businesses struggling to move product will make fewer factory orders. Read More
For Dealers
How this underrated employee benefit is helping dealers shrink turnover
When speaking with individuals about their personal and business finances, I find much of an individual’s stress is caused by the unknown. As the old saying goes, “People fear what they do not understand….” Credit card debt, interest rates, the stock market, inflation, and the list goes on. Read More
From overwhelmed to aligned action: Empowering service advisors for success
Over the last three years, dealerships have had to rely on service to bring in more profit than ever. And service advisors play a crucial role in bridging the gap between customers and the technical world of automotive repair. Read More
