CBT Now
How the LA Auto Show expands the automotive footprint – Jessica Caldwell | Edmunds
After years of pricing instability and other disruptions brought on by early COVID-19-era supply chain losses, the used car industry is undergoing a course correction. The car-shopping experts at Edmunds have observed positive indicators of market stability, as highlighted in the most recent Edmunds Used Vehicle Report. Joining us on the latest episode of CBT Now, with a look inside the LA Auto Show and the Edmunds Q3 Used Vehicle Report, is Jessica Caldwell, Edmunds’ Executive Director of Industry Insights. Watch the full segment here
Top stories
Following a series of safety-related investigations, the CEO and co-founder of General Motors’ robotaxi division Cruise, Kyle Vogt, announced his resignation on November 19. Shortly after his departure, Vogt sent an email to the current workforce stating, “As CEO, I take full responsibility for the situation Crusie is in today. We need to step up our efforts in terms of safety, transparency, and community engagement. Still, I’m excited to see what Cruise has in store for us next!”. Read More
The United Auto Workers union has ratified its contracts with Detroit-Three manufacturers, following more than two weeks of voting among its members. General Motors was the first to see voting complete, followed by Stellantis, then Ford. Despite earlier signs of discontent among some members, the United Auto Workers union was able to ratify all three contracts with relative ease. Read More
Used vehicle sales and pricing have weakened in the final quarter as the market continues to normalize in the wake of the COVID pandemic. According to Cox Automotive, wholesale used vehicle prices have declined in the first half of November, although supply has remained relatively low, falling 1.6% month-over-month and 5.3% year-over-year. Read More
On the evening of November 17, U.S. District Judge Trina Thompson of San Francisco dismissed an antitrust lawsuit accusing Tesla of monopolizing the markets for vehicle repair and replacement components, which caused customers to pay excessive prices and experience long wait times. Read More
For Dealers
The power and necessity of owning your advertising accounts
Marketing managers, general managers, and advertising or marketing agencies might not agree on this one: You should create your own ads account whenever you start advertising your business somewhere, whether it’s social media, Google, or anywhere else. Let’s dive into why having your own advertising accounts is a good idea, and what could happen if you don’t. Read More
Online reviews can’t be ignored – tips to get more (and better) reviews for F&I We all rely on ‘social proof’ to help us know where to spend our hard-earned dollars. Name one business or product you have considered in the past few months and think about how many online reviews you looked at. Before trying that new restaurant or that new oil change place down the street. We all do it. Your dealership and more specifically, your F&I department, should have this as a focus when looking to increase positive online reviews. Yes…F&I will be reviewed, too. Read More
