Kain & CO.
How dealerships can serve as the heartbeat of their communities – Julie Taberejo
On the latest episode of Kain and Co., host David Kain, president of Kain Automotive, is joined by Julio Taberejo, Marketing Director of The Tony Group Autoplex, to discuss the relief efforts the dealership is currently spearheading for the victims of the “largest natural disaster in Hawaii’s state history.” Watch the full segment here
Top stories
As contract negotiations continue, pressure is mounting on Stellantis and General Motors following the United Auto Workers strike at Ford’s biggest and most profitable factory in Louisville, Kentucky. According to summaries issued by the UAW and automakers, the Kentucky walkout serves as a warning to Stellantis and GM, whose wage and benefits offers fall short of Ford’s. Read More
Tesla has lowered the base leasing prices for its Model 3 and Y by $90 and $100 a month, following a price cut that made the Model 3 the most affordable Tesla to date. But the company has now stated that it “expects” to lose access to half of the $7,500 federal tax credit that the Model 3 is eligible for at the end of the year, meaning that the credit will only be $3,750. Read More
The Ed Morse Automotive Group announced today that it has acquired three dealerships in Fairfield, Texas. The dealerships were purchased from Foundation Automotive Corp. The new dealerships will be: Freedom Ford by Ed Morse, formerly Freestone Ford at 1201 US Highway 84 W, Fairfield. Freedom Chevrolet by Ed Morse, formerly Freestone Chevrolet at 320 I-45, Fairfield. Freedom Chrysler Dodge Jeep RAM by Ed Morse, formerly Freestone Chrysler Dodge Jeep RAM at 350 I-45, Fairfield. Read More
Ally Financial announced today that Jeffrey J. Brown will be stepping down early next year after serving as Chief Executive Officer and a member of Ally’s Board of Directors since 2015. The search for a successor is underway, the company said in a statement. “After 14 years at Ally, including nearly 9 years as CEO, I am so proud of how we transformed the company from the days of GMAC to who we are today, a more strategically, operationally and financially sound organization,” said Brown. Read More
For Dealers
Why every car dealership needs an upskill plan for their staff
Has The Great Resignation impacted your dealership? Are you concerned that it might? Well, offering opportunities for your dealership staff to upskill and expand their skill sets could be the answer. Read More
Weekly roundup: UAW strikes Ford’s biggest factory, auto loan trends, Shift Technologies goes bankrupt
Earlier this week: Ford faced an unexpected UAW strike, sending ripples through its Detroit counterparts, GM and Stellantis. Meanwhile, auto loan accessibility witnessed its third consecutive month of improvement. Tesla, not to be outdone, slashed its prices, challenging conventional gasoline vehicles on cost. Online used-car giant, Shift Technologies, announces its exit with a bankruptcy plan. Lastly, the U.S. Treasury Department rolled out its proposed guidelines for lucrative EV tax credits, and more headlines to stay on top of this week in automotive industry news. Read More
