Tesla’s Twitter fiasco, new J.D. Power insights, airbag recall continues

Inside Automotive

AutoNation expands with RepairSmith to be the #1 leader in transportation solutions
AutoNation is set to acquire RepairSmith, a full-service mobile repair and maintenance company making solutions much more convenient and comprehensive for their customers. On today’s show, we’re learning more about the expansion with AutoNation’s Executive Vice President and Chief Customer Experience Officer, Marc Cannon alongside the CEO of RepairSmith, Joel Milne. Watch the full segment here.

News Headlines

Starting off our coverage, Elon Musk is facing more scrutiny than ever, after suggesting he would leave his Twitter role hours before a downgrade of Tesla stock. Yesterday morning, international investment bank Oppenheimer lowered the automaker’s stock outlook to ‘perform’ from ‘overperform,’ noting that the negative press surrounding the entrepreneur’s Twitter buyout had “severely damaged” investor confidence in Tesla’s future. This announcement arrived the morning after the CEO hosted a poll on Twitter asking users to vote on whether or not he should step down from his leadership role at the social media company. 17.5 million people responded, 57.5% of whom voted for him to leave. While Musk has yet to give further details, investors are understandably eager to leave the controversy behind. Read More

New data from J.D. Power suggests 2023 could be a game-changing year for the electric vehicle industry. Many automakers are betting on a lucrative future for EVs, a gamble which researchers now believe will pay off sooner than expected. Although its full report has yet to be released, J.D. Power has announced that electric vehicle market share will rise to 12% in 2023, a five point increase from this year. Furthermore, its analysts anticipate that growth could occur even faster than their current predictions, once the Inflation Reduction Act’s tax incentives arrive in January. While many dealers and automakers are concerned about a possible recession in the coming months, the strong performance of electric vehicles is likely to ensure continued growth in the sector, regardless of what 2023 brings. Read More

Faulty Takata airbags have sadly claimed another life, as automakers and regulators urge consumers to check their vehicles. The airbags have been the focus of a 13-year-old recall effort after it was discovered that they contained inflators that could explode in an accident. This is the third death since November related to the issue, bringing the worldwide total to 33. However, since 67 million units were installed across the U.S., agencies have had a difficult time tracking and replacing the components. If you’re curious about whether your vehicle is part of the recall, the National Highway Traffic Safety Administration urges you to check on their website and bring your car in for repair immediately. Read More

First impressions of Kia’s new EV6 GT are in after journalists were recently allowed to take the vehicle on a Las Vegas test drive. So far the car ranks well in terms of performance and features, boasting a 576 horsepower engine and improved charge time. Unfortunately, in comparison to other newcomers on the market, the EV has a drive range of 310 miles, lagging behind other leading brands. Consumers looking for zero-emission alternatives may be willing to overlook this, however, thanks to its attractive MSRP of $48,500; expensive but better than the industry average of $66,000. The automaker is preparing to make the car available for purchase sometime this month. Read More

For Dealers

EVs are all the rage; but ICEs are all the profit!
It seems that Electric Vehicles (EVs) are everywhere. Every football and basketball game has several EV commercials featuring happy families living the abundant life in their plug-in, environmentally friendly EV. There’s been an EV article on the front page of every automotive publication for the last several years. Every time you go online, scroll through your newsfeed, or surf social media you see an EV ad, video, or link. Politicians talk about EVs, government agencies talk about EVs, even the president talks about EVs. Read More

How to grow your dealership’s online reviews and reputation
It’s no secret that online reviews are essential for businesses, which goes double for auto dealerships. With so much competition, it’s crucial to have a solid online presence – which means having good reviews. So how can you get them? Here are a few tips. Most customers research you and your vehicles online, so your dealership must pay attention to online reviews. People trust each other’s opinions when shopping for car purchases, customer service, repair services, and parts departments. With a few clicks of their mouse, shoppers can search for car dealership online reviews and get valuable insight into whether a business is worth exploring. Read More

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