The Friday 5

The Friday 5 is a weekly CBT News Network series, which recaps the week's action in automotive technology deals and is hosted by the Founder and CEO of Automotive Ventures, Steve Greenfield.

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How California auto dealers are grappling with the devastating wildfires

This year, the California wildfires have been record-breaking and they continue to make headlines for widespread damage, deaths, and lowered air quality. As auto dealers and families in the area have had to close up and seek shelter, Hilary Haron, owner of Haron Motor Sales and Ellena Woodhams, compliance and outreach director for Stevens Management Group have mobilized to help wildfire teams, evacuees, and displaced animals. Both Haron and Woodhams join us today to talk about their efforts. In this segment, Haron, Woodhams, and anchor Jim Fitzpatrick discuss how their dealerships are faring through the wildfires. They also share how…
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Why now is the time to lean into your dealership’s marketing strategy – John...

On today's show, we’re pleased to welcome back John Fitzpatrick, Co-Founder and CEO of Force Marketing to discuss the latest updates and news in the automotive industry with regards to marketing trends and strategy. Labor Day was a key moment for the auto retail industry to fully realize its recovery potential. The feedback that Fitzpatrick is hearing from Force Marketing clients is that the holiday was as good or better for many dealers than in the previous year. Dealers feel that the consumer demand is on par with 2019 and even higher in certain localized markets. Force Marketing data supports…
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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…

Sources: NADA on the verge of announcing virtual show in 2021

A source close to the situation told CBT News that an announcement from the National Automobile Dealer Association regarding the NADA 2021 Show is imminent. According to this source, the annual expo will move to an exclusively virtual platform. The show was originally scheduled to meet in the city of New Orleans next January 21st - 24th. The annual show's in-person presence has been in doubt due to the lingering impact of the COVID-19 pandemic. CBT News will continue to monitor and update this story as it unfolds. Correction: It has come to the attention of CBT News that a…

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…