Steve Greenfield

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Steve is the Founder and CEO of Automotive Ventures, an automotive technology advisory firm that helps entrepreneurs raise money and maximize the value of their companies. They also assist PE firms to conduct due diligence on automotive technology acquisitions, advise technology CEOs on strategy, and help represent sellers at the time of sale.
electric vehiclesvideo

Electric vehicles make big waves in this week’s automotive tech headlines

Welcome to another edition of The Friday 5 with Steve Greenfield, Founder and CEO of Automotive Ventures, an auto technology advisory firm that helps entrepreneurs raise money and maximize the value of their companies. In this episode, Greenfield takes a look at Carvana's performance, the latest news out of California, and dramatic events from the makers of electric vehicles. Carvana There’s no doubt that COVID-19 has accelerated more consumers to online car buying, and, in parallel, investors’ interest in technologies that enable consumers to either buy or service their vehicles online. This week, we received a couple of interesting signals…
stockvideo

Auto ventures capitalize on stock market strength to push through acquisitions and IPOs

Welcome to another edition of The Friday 5 with Steve Greenfield, Founder and CEO of Automotive Ventures, an auto technology advisory firm that helps entrepreneurs raise money and maximize the value of their companies. In this episode, Greenfield takes a look at M&A activity, stock market performance, and the SEC investigation of Nikola. Stock Markets This week, stock markets remain buoyant, and many companies are taking that opportunity to push through their IPOs. With the uncertainty of the election, the backlog of unemployment that will have to play its way through the economy, and the continuing global health pandemic, there’s…
tech companyvideo

Auto investors make bold moves with this week’s tech company deals

Welcome to the first edition of The Friday 5 with Steve Greenfield, Founder and CEO of Automotive Ventures, an automotive technology advisory firm that helps entrepreneurs raise money and maximize the value of their companies. This weekly CBT News series recaps the week’s five most important actions and deals in automotive technology. U.S. stocks wrapped up a banner month, with the S&P 500 posting its best August results in more than 30 years. The Standard & Poor’s 500-stock index capped a remarkable five-month winning streak as improving labor data, central bank maneuvers and Big Tech’s continuing dominance helped fuel a…
David Longvideo

Hansel Auto Group’s David Long on inventory challenges, CA wildfires, and COVID-19

As dealers get back into the swing of things in the wake of the pandemic, some are adopting new business models and strategies while others are unfortunately taking a hit. Today, we’re checking in with David Long, executive general manager of the Hansel Auto Group and veteran of the retail automotive industry about what’s working for his business along with some challenges that he’s faced. In this segment, Long and anchor Jim Fitzpatrick discuss the state of the automotive industry including new vehicle inventory challenges, residual COVID-19 obstacles, and how wildfire season has affected California dealerships. For Hansel Auto Group,…
Edmunds

Edmunds forecasts a ‘roaring comeback’ for auto sales in third quarter

Retail auto sales will be a turning point for the industry in the third quarter, according to a press release from Edmunds.com. As Q3 2020 draws to a close, the research and shopping guide site is predicting that final numbers will reflect an increase of 30.6% compared to the results of the previous quarter. That increase is a dramatic improvement over the period of April through June when the COVID-19 pandemic wreaked havoc on all retail industries, not just automotive. Jessica Caldwell, Edmunds’ executive director of insights, said in the press release, “"Third-quarter sales make at least two things apparent:…
California

California plans to ban sales of new gas-powered vehicles by 2035

On Wednesday, California’s Gov. Gavin Newsom announced a remarkable plan for the state to ban sales of all new vehicles powered by fossil fuels. An executive order puts a definitive timeline on phasing out gas-powered vehicles in 15 years.  Newsom emphasized the executive order’s importance by signing the document on the hood of a Ford Mustang Mach-E, set to arrive at dealerships this fall.  “This is the most impactful step our state can take to fight climate change,” Newsom said. “For too many decades, we have allowed cars to pollute the air that our children and families breathe. Californians shouldn’t have to…
marketing

Benefits of effective seasonal fixed ops marketing

For dealerships, January through March new and used car sales are usually at the lowest levels of the year - pandemic shutdowns notwithstanding. This year poses an even bigger problem with layoffs of critical members in the service and parts area. These are challenging times. And as in any other year, many OEMs and automotive dealers will cut marketing budgets because it's low on the priority list if it's not aimed directly at car sales. Do you still cut marketing for service and parts growth? If you're thinking about cutting marketing and incentives to current owners, that's misplaced thinking. It…

Why minorities often don’t consider careers in the automotive industry

Welcome back to Diversity in Automotive brought to you by TrueCar and CarNow. One of the critical concerns that dealers grapple with on a consistent basis is employee turnover. Automotive recruiting efforts are strong, however, employees who enter the car business still end up leaving. Why? In today's segment, host Cory Mosley is joined by an esteemed panel of automotive retail professionals. This panel includes Elgie Bright, automotive department chair for Northwood University, Brandon K. Hardison, owner of Champion Strategies, and Kerri Wise, vice president of communications for TrueCar. The panel first tackles why members of the minority community may…

Electric vehicles make big waves in this week’s automotive tech headlines

Welcome to another edition of The Friday 5 with Steve Greenfield, Founder and CEO of Automotive Ventures, an auto technology advisory firm that helps entrepreneurs raise money and maximize the value of their companies. In this episode, Greenfield takes a look at Carvana's performance, the latest news out of California, and dramatic events from the makers of electric vehicles. Carvana There’s no doubt that COVID-19 has accelerated more consumers to online car buying, and, in parallel, investors’ interest in technologies that enable consumers to either buy or service their vehicles online. This week, we received a couple of interesting signals…

What the auto retail industry has gotten right and wrong about...

Welcome back to Diversity in Automotive brought to you by TrueCar and CarNow. When we talk about the issue of diversity, a lot of times, based on the marketplace, people tend to think about diversity as it relates to color. However, gender and sexual orientation often get ignored. In today's segment, host Cory Mosley is joined by an esteemed panel of automotive retail professionals who are part of the LGBTQ community. This panel includes Danny Zaslavsky, the dealer of Country Hill Motors, Richard Herod the dealer of White Bear Mitsubishi, Hollyanne Peck the Director of Marketing at CarNow, and Tim…

Modifying your dealership’s sales approach through COVID-19

Over the last six months, David Lewis has talked with hundreds of dealership personnel. The majority seem to be in agreement that the changes currently being made to the sales process will be around for a long time. On this edition of Straight Talk, our host, David Lewis discusses how the COVID-19 pandemic has compelled dealers to change their sales process and strategy. From his perspective, Lewis believes that a lot of the changes are positive and should be adopted by all dealerships. Lewis' method of selling has always been about inspiration, not high pressure. He believes that by lowering…