Inside Automotive
OEMs want to transform the car business: should dealers be worried? – Tim Jackson | CADA
Automakers are pushing for sweeping changes to way vehicles are sold, but how do franchisees factor into their plans? On this episode of Inside Automotive, host Jim Fitzpatrick is joined by long-time friend of CBT News Tim Jackson, president and CEO of the Colorado Automobile Dealers Association (CADA) as well as one of the industry’s most influential leaders, to discuss the role dealers are playing in the transforming car business. Watch the full segment here
Top stories
Multiple automakers are signaling the return of incentives as they consider options to address rampant unaffordability in the current car market. In comments made to WardsAuto, Ford’s chief financial officer John Lawler expressed that the company expects to see pricing pressures come down on Ford Blue products in the latter half of 2023 “as we see supply and demand normalize.” Read More
On May 11, Swedish EV maker Polestar trimmed its full-year production guidance to between 60,000 and 70,000 vehicles, claiming that its Polestar 3 SUV will be delayed until 2024 due to software issues. The company also announced that it would cut roughly 10% of the workforce to reduce costs. Read More
Five Star Automotive Group has acquired two dealerships in North Canton, Ohio, through major merger-and-acquisitions broker Tim Lamb Group. Cain Toyota and Cain BMW were purchased by the dealership group on April 26, 2023, under the supervision of the M&A firm’s president Tim Lamb. Now named Toyota of North and Canton and BMW of North Canton, the two storefronts sell new and used vehicles on a shared 10-acre lot. Read More
A Ukrainian-born dealer and his business partner have donated a 2010 Honda Ridgeline to the Ukrainian Army. Serhii Shelep and Eli Reznik, both with Ukrainian roots, are trying to offer the country as much support as possible. Shelep was born in Ukraine and moved to the U.S. 10 years ago. But, many of his relatives and friends remain in the region. Read More
For Dealers
How to be ready for Gen Z F&I applicants
If your dealership has been making a concerted effort to hire more from the Gen Z pool of job seekers for your F&I positions, there are a few keys things to keep in mind. It’s important to really dial into what makes this applicant tick and what they respond to when looking at a job opportunity. Read More
Lights, camera, action: Your playbook for high-quality professional walkaround videos
You’ve seen the stats – customers are increasingly turning to video content to make informed decisions when purchasing a car. In a recent Think With Google report, Google found that creator-produced videos received a whopping 93% of monthly views for all U.S. auto content on YouTube. Read More
