Inside Automotive
OEMs and auto dealers: helping consumers together — Jessica Stafford | Cox Automotive
Auto dealers and car manufacturers may not always see eye to eye, but the need for cooperation between the two is more important than ever. On this episode of Inside Automotive, CBT News anchor Jim Fitzpatrick is joined by Jessica Stafford, Cox Automotive’s senior vice president of consumer solutions, to discuss how changes in the consumer environment have made it necessary for OEMs and retailers to work together. Watch the full segment here
Top stories
A sharp rise in electric vehicle sales has made the U.S. the world’s second-biggest EV market behind China. According to technology-market research firm Counterpoint, first-quarter EV sales in the U.S. showed a 79% year-over-year increase, up from previous reports indicating 63%. In contrast, sales of gas-powered cars only showed negligible differences between 2022 and 2023. Read More
In a recent interview with CNN, Ford Chairman Bill Ford Jr acknowledged that the U.S. is not fully prepared to compete with China in producing electric vehicles. Although, the automaker has reported to be “all hands on deck” as it approaches preparation. China is on track to become the world’s second-largest exporter of passenger vehicles, possibly changing the global auto industry and upending the supremacy of its automotive trading partners and rivals. Read More
Tesla applied new incentives and discounts to its electric vehicle lineup on June 17, lowering the Model X and Model S prices and offering three years of free Supercharging. Dual motor and all-wheel drive versions of the Model X and Model S now cost approximately $8,000 less than they did a week ago, with the latter now retailing for $82,790. Read More
The Office of Defects Investigation at the NHTSA opened a preliminary investigation after several American Hyundai owners of the popular Ioniq 5 electric SUV complained of losing propulsive power, either completely or partially. Hyundai said it will offer a software update beginning next month and replace affected components if necessary. Read More
For Dealers
Time: your most precious, most perishable, and most profitable product
I was introduced to a new term recently, “aftersales.” After 40+ years in the automotive business I was unfamiliar with the word. Aftersales refers to anything sold to the customer after they have purchased a new or used car from the dealership. Therefore, fixed ops is better to be thought of as the “Aftersales Department” rather than the Service Department. Read More
Upselling with integrity: building trust and value for long-term customer loyalty
Upselling is a crucial strategy for improving the bottom line of every deal, but how sales staff approach this essential task can make all the difference now and down the road. Upselling is no longer about arm twisting and trickery. Instead, today’s techniques for maximizing a deal require building trust and establishing a relationship, which can’t happen in an atmosphere of subterfuge and deception. Read More
