Inside Automotive
Playing the long-game with CDPs and unified data – Aaron Baldwin | automotiveMastermind
On the last episode of Auto Marketing Now, we discussed the differences between the most common CDP systems in the auto industry, along with their associated strengths and weaknesses. For this installment, host Brian Pasch is joined by special guest Aaron Baldwin, Chief Product Officer at AutomotiveMastermind, to discuss how dealers can use their CDP’s data activation tools to create a better customer experience. Watch the full segment here
Top stories
New data from Cox Automotive reveals that the average transaction price (ATP) for new vehicles has fallen below MSRP for the first time in nearly two years. In March, customers paid an ATP of $48,008, down $550 or 1.1% from February’s average of $48,558. By the end of the month, new vehicles were retailing for $171 below MSRP, a significant improvement from last year when buyers were paying an additional $1,000 on their car purchases.
The U.S. Environmental Protection Agency (EPA) on April 12, recommended substantial emission reductions for new vehicles and trucks through 2032. The agency claims that this proposal may result in two out of every three new cars sold by automakers would be electric.
Mercedes-Benz has posted strong first-quarter numbers, driven by better electric and premium vehicle sales. The automaker sold 503,500 units globally, a 3% increase from the same period in 2022, although performance varied substantially between regions. European sales grew 8% year-over-year, the best improvement overall, followed by 3% in Asia and 1% in North America.
According to a Labor Department report, inflation decreased in March as the effects of the Federal Reserve’s interest rate rises became more apparent. The consumer price index, a commonly followed measure of the cost of goods and services in the U.S. economy, rose by 0.1% in March compared to a Dow Jones estimate.
For Dealers
What to look for when hiring a social media manager for your dealership
Social media managers are likely one of the most crucial individuals you’ll hire for your dealership marketing team. Over the past decade, their role has expanded from making mere postings and interacting with customers to running campaigns and managing ads. It’s a role that will continuously evolve. Read More
8 tips to revamp your dealership ad designs for today’s modern customers
You may not want to believe it, but your customers are becoming increasingly immune to traditional advertising— especially your future customers. Marketing Tech News mentions a report titled “Ad blockers and advocacy: Why Gen Z is blocking paid ads in favor of real voices’, researchers found that 99% of consumers in Gen Z will hit ‘skip’ on an ad if it’s an option and that nearly two-thirds (63%) use ad blockers to avoid online adverts.”Read More
