FCA and PSA revise merger due to COVID-19

Fiat Chrysler and PSA announced plans to amend the merger that will launch Stellantis in 2021.  FCA announced in a press release that the amendments were made to address the liquidity impact on the automotive industry due to COVID-19. The…

Absenteeism continues to plague auto plants

Auto dealers have experienced highs and lows during the COVID-19 pandemic. Many have had surprising, record-breaking sales months and many have sold more used vehicles than ever before. The current value on used vehicles stems from the lack of new…

As dealer sentiment improves, inventory woes deepen

dealer
On Sept. 8, Cox Automotive released the Q3 2020 Cox Automotive Dealer Sentiment Index (CADSI). Information collected from dealers surveyed in late July through mid-August was used to determine how they view the conditions in the auto market – strong,…

Hertz navigating bankruptcy, but rental car industry expecting growth

rental
The goliath car rental corporation Hertz Global Holdings continues to battle their way through bankruptcy proceedings post-COVID. On May 22, 2020, Hertz filed for bankruptcy protection in the throes of the pandemic with roughly $19 billion in debt and almost…

Lucid unveils the new Air, sets its sights on the Tesla Model S

Lucid Motors has been building up its first production vehicle, with lofty claims of industry-leading battery range and speed, since releasing a prototype at the end of 2016. Four years later, the production model is here. The EV maker unveiled…

KAR Global makes digital waves by acquiring BacklotCars

KAR Global announced a definitive agreement to acquire BacklotCars Inc. According to a KAR Global, the deal is still subject to certain regulatory approvals and other customary closing conditions before it can be made official. The purchase price of the…

Low fuel prices here to stay, according to AAA report

fuel
A report from the American Automobile Association on September 8, the average gas price nationally between Memorial Day and Labor Day was $2.15 per gallon. That’s the lowest it has been during the unofficial summer months since 2004, and it’s…

Nikola partners with GM to produce electric pickup

Since the unveiling of the concept in February, The Nikola Badger has been hyped to be the direct rival to Tesla’s Cybertruck. The one question slowing the Arizona startup was who would produce the electric pickup. That question was answered…

U.S. putting pressure on China, considers blacklisting chipmaker

China
Earlier this year, Chinese carmakers were attempting to be the first to crack into the American auto market. Brands such as GAC Motor and Vantas were expected to target the auto industry in the US with low-cost models, capturing a…

Lithia Motorspurchases remaining John Eagle dealerships

Lithia
Last month, Lithia Motors announced it had purchased four John Eagle dealerships including John Eagle Honda of Dallas, Honda Cars of Rockwall, Howdy Honda of Austin, and John Eagle Sports City Toyota. That purchase was reportedly projected to “add $500…

HEADLINES

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…
Bernie Morenovideo

Bernie Moreno returns to auto retail with new digital technology

While the COVID-19 pandemic has created many obstacles for auto dealers, some have found ways to create opportunities in the midst of adversity. After taking a step back from the auto industry, Bernie Moreno, president of Bernie Moreno Companies, and…
automation

Why automation is a crucial tool in today’s auto industry

In today’s fast-paced world, customers expect personalized communication that speaks to their specific needs and grabs their attention. This expectation increases the number of meaningful touches needed between a customer and a sales representative. With a smaller team, how can…
wholesale

Wholesale prices begin to normalize on usual inventory levels

Dealers may start to notice the wholesale prices at auction slip back into more familiar territory. According to Manheim’s Used Vehicle Value Index mid-month report for September, wholesale used vehicle prices have decreased by 0.9% in the first two weeks…

Auto ventures capitalize on stock market strength to push through acquisitions...

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…

The role diversity plays in your dealership’s customer communications

Welcome back to Diversity in Automotive brought to you by TrueCar and CarNow. As you look across your customer base, there are several moving parts of communications that everyone has to get right. Externally, dealers have to represent the franchise…

Conducting customer interviews online to discuss F&I options

It’s time to face a new reality. Offsite deliveries aren’t going anywhere anytime soon. COVID-19 has forever changed the way car dealers do business, quite possibly forever if not for the foreseeable future. In growing numbers, more dealers performing offsite…