Inside Automotive
How to secure lender-qualified payments upfront with digital retail – Pete Maclnnis I eLEND Solutions
Today’s economic headwinds have forced dealerships across the nation to alter the way they achieve customer satisfaction. On today’s Inside Automotive, we’re joined in studio by Pete Maclnnis, CEO of eLEND Solutions, to discuss how affordability is impacting the Digital Retail process. Watch the full segment here
Top stories
On June 5, General Motors announced its plans to invest more than $1 billion in two Michigan plants for the production of its next-generation heavy-duty trucks. The investment includes $788 million to prepare its Flint Assembly plant to build the heavy-duty and diesel trucks. Read More
Ford is recalling 142,734 Lincoln vehicles over a potential fire hazard and has advised owners to park outside until they can visit their dealership for repairs. According to the National Highway Traffic Safety Administration (NHTSA), a battery monitor sensor in the affected vehicles can short circuit, causing the engine to catch fire even when the car is turned off. Read More
Stellantis and General Motors paid a total of $363 million in civil penalties for failing to meet U.S. fuel economy requirements for prior model years. The National Highway Traffic Safety Administration, which administers the Corporate Average Fuel Economy (CAFE) program; reported record-setting penalties that included $235.5 million for Stellantis and $128.2 million for GM. Read More
Analysts expect to see car prices drop in the coming months as automakers overproduce in the face of declining demand. A report by UBS predicts that car manufacturers will build more vehicles than they can sell by the end of the year, leaving the industry with a surplus of five million units. To address this discrepancy, automakers will need to cut car prices to find buyers. Read More
For Dealers
May U.S. auto sales
May’s new auto sales are defying even Cox Automotive’s initial expectations. It looks like the release of pent-up demand due to an increase in inventory is a significant culprit. Also, some automakers are reporting year-over-year gains. Nevertheless, while May seems to be a stand-out compared to last year, there is a bit of a drop compared to April. Read More
Driving diversity: Embracing Inclusion for automotive retail success
Focusing on diversity and inclusion in the automotive industry has shifted from being a “nice-to-do” to an essential business initiative. Many automakers have started to prioritize these efforts, while some dealers are also following suit. How are diversity and inclusion shaping the automotive retail experience and impacting how dealers do business and interact with their customer bases? Read More
