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AutoNation Q4 record profits, Tesla recall, GM’s Mary Barra stands firm on EV revolution

Inside Automotive

Vaughn perspectivesFacing diversity, sales, and electrification challenges in the dealership – Lawrence Vaughn
Dealers are anxious to know what challenges await the automotive industry in 2023, which is why they are paying close attention to experienced perspectives. Lawrence Vaughn is the Dealer Principal for Wise Chrysler Dodge Jeep Ram in Ohio and has years of success in the car business. Watch the complete segment here.

Top Stories

AutoNation gross profitAs manufacturers increase volume and provide more incentives to price-conscious shoppers, AutoNation, one of the largest car dealership chains in the U.S., anticipates a reduction in new and used car prices this year. The company’s Q4 profit revealed adjusted earnings of $6.37 per share, the highest ever for a fourth quarter which beats the fastest-tracked consensus estimate of $5.83 a share. Read More

self-driving software
Image source: Mike Blake/Reuters/Electrek

Tesla is set to recall over 362,000 vehicles equipped with the company’s Full Self-Driving beta software, after facing pressure from the National Highway Traffic Safety Administration. According to the NHTSA, the company’s self-driving software could cause vehicles to “exceed speed limits or travel through intersections in an unlawful or unpredictable manner..” The recall extends to the entirety of Tesla’s SUV and sedan lineup between the years of 2016 and 2023, excluding its Cybertruck, Semi, and Roadster. Read More

Mary Barra EV ambitions electrification ambitions

Last Thursday, General Motors CEO Mary Barra confirmed the company would continue pursuing its electrification ambitions, but acknowledged a number of obstacles remain in the company’s pathSpeaking to virtual attendees of Wolfe Global Auto, Auto Tech, and Auto Consumer Conference, Barra and GM CFO Paul Jacobson spoke positively about upcoming developments in the company’s electrification strategy. Both spoke excitedly of upcoming additions to the brand’s EV lineup in 2023. Read More

supplies improving, Bank of AmericaDespite supply chain shortages improving, new data indicates that some automakers still feel pinched more acutely than others. Honda informed shareholders that despite the growing semiconductor shortage, it had nonetheless lowered its expected global sales for the upcoming year. According to a report released this month by analysts at Bank of America Global Research using data from S&P Global, the scarcity has not affected BMW, Mercedes-Benz, Renault, or Nissan so far this year. Read More

For Dealers

Why creative problem solving is the secret ingredient to overcoming business challenges
One of the more pressing issues facing dealerships today is navigating the numerous challenges they face, including changing consumer behavior, new OEM agreements, rising competition, and technological disruption. So, it’s understandable that dealership owners and managers might be concerned about meeting these challenges. Read More

5 tips to improve your search results page (SRP) design
One of the most popular locations for potential car buyers to find you are on the device you’re likely viewing this article from, whether it’s a phone, laptop, or desktop computer. Many of today’s customers are carrying out their car-buying searches online. And much like that billboard in the physical world, your website is a tool for drawing individuals to your dealership inventory. Read More

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CBT News
For over 11 years, CBT News has been informing and helping automotive retail professionals grow their businesses and thrive in their careers through an awarding-winning, on-demand streaming platform. With exclusive interviews featuring the biggest names in the industry, daily newscasts, up-to-date market data, and exclusive articles covering the latest trends, CBT News is your #1 source for auto industry news and content.

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