Inside Automotive
NADA President Mike Stanton on building bridges between OEMs and dealers
The role dealers play in shaping the future of the car business is more essential than ever, but do manufacturers see it that way? On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Mike Stanton, president and CEO of the National Automobile Dealers Association (NADA), to provide an update on the organization’s work to support and represent automotive retailers and to offer his perspectives on the car market. Watch the full segment here
Top stories
Coming off one of its most successful quarters, General Motors has revised its 2023 guidance to account for greater earnings and revenue than it previously anticipated. The automaker surpassed Q1 expectations by generating nearly $40 billion in revenue, a year-over-year increase of 11.1%, breaking its North American record with $32.9 billion. Read More
General Motors and Samsung SDI have announced they are partnering to build a new $3 billion battery cell factory in the U.S. to power GM’s EVs. The official announcement by GM and Samsung highlights the plan to invest more than $3 billion to build a new battery plant, which is anticipated to be operational in 2026. Read More
According to a new global sales analysis, Tesla has completed an important objective on its path to becoming a prominent international brand. The study, conducted by CleanTechnica, a news platform reporting on clean technology and sustainable energy, compared Tesla’s worldwide manufacturing and delivery reports leading up to and including Q1 2023. Read More
To boost Hyundai’s electrification, the company said on April 25, 2023, it finalized a $5 billion EV battery plant in the U.S. In Georgia, a new battery manufacturing facility will be established by Hyundai and its new partner SK On, a battery innovation. In order for car owners to be eligible for up to $7,500 in incentives under the Biden administration’s Inflation Reduction Act (IRA), the action follows the new U.S. EV requirements for components and critical minerals. Read More.
For Dealers
Drive your dealership sales to new heights: The power of ongoing training
Talk with any sales manager, and they’ll say that a dealership’s success is built on the foundation of its sales department. And it’s tough to disagree with that. Often, the salesperson is the first voice of the dealership and will make or break anything that comes after that contact.
Q&A with Toyota dealer Chris Kari: Can daily rentals make fleet programs profit centers?
The cost of courtesy loaner fleets presents a familiar challenge for every dealer: Spend on cars that can win customers and increase some RO values, or save on fleet costs and potentially lose CSI points and service volume? Read More
