Inside Automotive
Fine-tuning the service experience for today’s car buyers — John Myers, Matt Heydon | Toyota
Toyota Motor North America’s digital retailing service Smartpath makes it easier for shoppers to buy and finance their vehicles online. Now the brand is rolling out a new service platform, which more than one-third of its dealers have already committed to support. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by John Myers, general manager of retail transformation for Toyota Motor North America and Matt Heydon, group manager of retail transformation for Toyota Financial Services, to discuss these new platforms and how dealers are getting involved. Watch full segment here.
Top Stories
Ford outperformed analyst expectations for the second quarter, posting higher year-over-year revenue and increasing its earnings forecast for 2023. Ford reported an automotive revenue of $42.43 billion, beating Wall Street’s expectations by over $2 billion. The automaker’s net income for the period totaled $1.9 billion, an increase of roughly 288% from the prior year’s $667 million and 5% from the first quarter’s $1.8 billion. Read More
Since the acquisition of Twitter, Elon Musk has frequently shared his political and social views, as well as controversial conspiracy theories. This has altered people’s minds about Musk, and many have suggested his statements may harm the Tesla brand. However, Musk dismissed concerns claiming to be “More popular than ever before” based on his Twitter follower count. Until recently, there’s been little evidence to suggest his behavior has negatively affected Tesla. Read More
Car dealers are eagerly adopting new artificial intelligence tools, according to research by software provider CDK Global. An overwhelming majority of car dealers now feel that artificial intelligence has helped their businesses grow. In a survey of 230 dealership executives and managers, 76% said AI had already made a positive impact on their business. Of the respondents who planned to integrate the technology in the future, 60% held optimistic expectations, a 4% jump from a previous poll in 2021. Read More
General Motors has expressed concerns that the Biden Administration’s proposed modifications to car emissions regulations might result in hundreds of billions of dollars in fines for the entire industry by 2031. However, the Biden administration disagrees with GM’s claim. On July 27, GM executive David Strickland met with the White House Office of Management and budget representatives to discuss the administration’s improved car fuel efficiency proposal. Read More
For Dealers
How to electrify your EV marketing strategy
Electric vehicles are becoming more prominent in dealerships. With customer interest in EVs rising along with occasional spikes in gas prices, it’s time to start flexing your digital muscle to sell these new kinds of vehicles. Strategies will vary based on the platform, so we’ll give you some basic ideas on how to market electric vehicles through paid search marketing, SEO, and social media. Read More
How situational leadership can elevate your entire team
In the ever-changing world of leadership, it is evident that one approach cannot effectively suit all situations. The ability to adapt and customize leadership styles based on the distinctive needs of individual team members delivers formidable results, propelling entire teams towards unparalleled achievements. This article delves into the transformative concept of situational leadership—an adaptive leadership style approach that highlights the flexibility and a comprehensive understanding of each team member’s readiness levels. Read More
