Inside Automotive
The halfway point: where car dealers see themselves in the next 6 months — Scott Gruwell | Courtesy Automotive Group
For the better part of seven decades, the Courtesy Automotive Group, one of the top car dealers in the U.S., has been known for its innovative solutions and a strong commitment to creating an excellent working environment for its staff. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Scott Gruwell, CEO of Courtesy Automotive, to discuss the past, present and future of retail automotive. Watch full segment here.
Top Stories
Used vehicle sales increased in July as customers prioritized affordable car prices and inventory normalized from 2022’s tumultuous market conditions. According to Cox Automotive data, purchases from retailers rose 6% from June to their highest since February, putting used vehicle sales just 0.5% behind last July when the market was still profiting from OEM production constraints. This small but helpful surge in demand softened the impact of falling preowned car prices, which declined an average of 1.6% month-over-month and 11.6% year-over-year. Read More
Zach Kirkhorn, chief financial officer of Tesla and long-time Elon Musk ally, has formally resigned from his position, ending a 13-year tenure at the electric vehicle brand. In a Linkedin post published on August 7, Kirkhorn called his time at the company “a special experience” and offered praise for his colleagues, writing: “I want to thank the talented, passionate, and hard-working employees at Tesla, who have accomplished things many thought not possible.” Read More
On August 3, 2023, Hyundai and Kia announced they were recalling more than 113,000 newer vehicles in the U.S. due to potential fire risks and urged owners to park outside and away from structures pending repairs. The recall covers Hyundai 2023 through 2024 Palisade, 2023 Tuscon, Sonata, Elantra, and Kona vehicles. In addition to the 2023 through 2024 Seltos and 2023 Kia Soul, Sportage vehicles. Read More
Electric vehicle maker, Lucid, cut prices of its Air luxury sedans by as much as $12,400. The cuts are part of an ongoing offer amid rising competition in the U.S. EV industry and a price war sparked by Tesla. The Air Pure’s price decreased by $5,000 to $82,400 from $87,400, and the more potent Touring and Grand Touring versions were discounted by $12,400 to $95,000 and $125,600, respectively. Lucid added that the offer would be available while supplies last. Read More
For Dealers
4 ways to incorporate QR codes into your dealership marketing strategy
We are sure you’ve seen these little grids on posters or mail pieces. These are QR codes, and they are rather versatile and straightforward to use paths to websites and apps. In this article, we’ll explain how to use QR codes in your dealership’s marketing strategy to better get messages out to more people. Read More
Ken Garff scoops up 7 Hawaiian dealerships, Lithia Motors purchases Ford, Honda stores
M&A activity continued to flourish in July, with Lithia Motors and other auto groups making notable purchases throughout the U.S., which include the following transactions: Lithia Motors Buys Wade Ford, Empire Automotive Group Acquires the Crystal Auto Mall, Aaron Auto Group Buys Anderson Chevrolet, Lithia Motors Buys Hill Country Honda, Ken Garff Automotive Group Buys Seven Hawaii Dealerships, Sutherlin sells Nissan of Fort Pierce, Great Lakes Auto Group Buys Dennis Automotive Dealerships. Read More
