Inside Automotive
Why dealer transparency is key to healthy OEM relations — Peter Cooper | Lexus of Lehigh Valley
Tensions between OEMs and retailers have never been more strained, but could both sides benefit from simply taking a step back and re-examining their roles in the conflict? On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Peter Cooper, the president, and CEO at Lexus of Lehigh Valley, to discuss the effect dealers may unknowingly have on OEM and consumer relations. Watch the full segment here
Top stories
In a report by the International Energy Agency (IEA), EV sales increased to 10 million last year, with China accounting for approximately 60% of the market. Record sale numbers continue the industry’s progressive growth pattern in the IEA’S Global EV Outlook for 2023: Read More
On April 26, Honda revealed additional details for its upcoming electric vehicle lineup, including the 2024 Prologue and an unnamed model planned for 2025. Honda made the announcements during a Wednesday business meeting in Japan, during which its electrification strategy took center stage. Read More
Stellantis is looking to reduce its hourly workforce by as many as 3,500 employees through buyouts. Last week, Shawn Fain, the recently elected president of the UAW, and Stellantis spoke about their “fractured” relationship regarding Stellantis’ electrification strategy and the subsequent indefinite shutdown of the Belvidere Assembly plant in Illinois back in February, which impacted 1,350 employees. Read More
Penske Automotive published its first-quarter performance numbers on Wednesday April 26, revealing some disquieting financial results on top of record-breaking revenue. According to the dealership group’s report, quarterly revenue grew 5.2% year-over-year, hitting a record $7.3 billion in March. The company’s automotive retail segment also grew 4% to $6.3 billion, accounting for 85% of its total Q1 earnings. Read More
For Dealers
5 digital tools every modern dealership needs to drive sales success
Adding new digital tools to your dealership strategy mix can feel overwhelming and time consuming. Things like price constraints, learning curves, and whether or not the software can make a difference can impact your decision. Read More
Why is there still a technician shortage and what are industry leaders doing about it?
The lack of qualified technicians is an ever-present issue for most dealerships. By next year, this shortfall is projected to increase to 642,000 open positions across the automotive industry. That’s a clarion call that wise dealer executives should be listening to. Read More
