Inside Automotive
Female car buyers: how dealers underestimate women — Lena Bourgeois | Equifax
Women make up one of the largest car buyer demographics in the U.S., but many dealers are still relying on outdated practices or old-school perspectives that deter female shoppers, both online and in the showroom. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Lena Bourgeois, the general manager of automotive services for Equifax, to discuss common misconceptions about women in the automotive industry and what retailers can do to abandon these stereotypes. Watch the full segment here
Top stories
Tesla once again beat earnings forecasts in the second quarter but struggled to sustain profitability on its increasingly discounted electric vehicle lineup. The electric vehicle brand reported $24.93 billion in revenue for Q2, slightly over the maximum $24.22 billion expected by analysts. The amount represents a 47% increase over the year before and a 6.8% increase compared to the first quarter. Read More
Elon Musk focuses on sales rather than profitability, hoping Tesla’s elusive full autonomous vehicles software could improve margins. This strategy could intensify the price war in the electric vehicle industry. Tesla shares plummeted 3% on July 20 after Musk suggested that price cuts, which have already lowered gross margins to a four-year low, might not be alleviated. Read More
President Biden met privately with Shawn Fain, leader of the United Auto Workers (UAW) union, on July 19 as the automotive industry prepares for the possibility of a labor strike. Biden reportedly asked to speak with Fain separately after learning that the UAW had contacted his administration to schedule a meeting for top aides to hear the union’s perspective on heated contract negotiations with Detroit car manufacturers. Read More
The previous few weeks have been a frenzy of activity for Air Force 2nd Lieutenant Madison Marsh. On May 27, she won over 20 of the state’s top competitors to become the newest Miss Colorado. The week after graduating from the Air Force Academy and receiving a commission, she made history by becoming the first military officer on active duty to hold a title inside the Miss America organization. On July 20, the Mike Maroone Honda presented Madison Marsh with a vehicle that should help make her more mobile as she travels across the state in her role as Miss Colorado. Read More
For Dealers
Promoting EV adoption through community outreach and education
We’ll up be upfront: The process of getting people to think about buying electric cars isn’t really all that different from selling a gas-powered vehicle. Sure, many of the tech specs have changed and customers have both their delights and concerns, but electric vehicles can be introduced in your area in much the same way gasoline-powered cars were decades ago: community outreach and education. We’ll talk about a few methods of getting your community to gain an interest in electric cars. Read More
Weekly roundup: Carvana aims to trim debt under new agreement, Fords slashes price for F-150 Lightning
Earlier this week: Carvana, the used-car mega-retailer, revealed its second-quarter earnings and also announced a significant agreement to reduce its total debt by over $1.2 billion. Meanwhile, Ford made a bold move by lowering the price of its electric F-150 Lightning truck, attributing the decision to successful manufacturing improvements and cost reductions in battery materials. Read More
