Dealers' #1 source for auto industry news, content, coaching & analysis

CBT automotive newscast: February 26, 2021

Featured Interview:

2021 AIADA Chairman2021 AIADA Chairman Steve Gates and CEO Cody Lusk discuss challenges facing the auto industry
The American International Automobile Dealers Association (AIADA) recently announced Steve Gates as its 2021 Chairman. Gates and AIADA President and CEO Cody Lusk joined CBT News to discuss the direction of the association and future challenges the industry could face in 2021. Gates was introduced to the new Chairman at AIADA’s 51st Annual Meeting, held virtually this year. Gates is a third-generation Kentucky dealer and President of Gates Auto Family. Watch the full segment here.

Top Headlines:

President Joe Biden signed an executive order Wednesday afternoon aimed at addressing the global chip shortage. Biden said that he would push for $37 billion in funding for legislation to accelerate chip manufacturing in the U.S. automakers were supportive of Biden’s plan as many have had to reduce production due to the crisis. Ford backed Biden’s plan, saying in a statement that it was, “incredibly important for our labor force, our customers, and our business that we have a commitment to end this shortage as soon as possible.”

Daimler trucks say that its plan to create zero-emissions vehicles will cost thousands of jobs. The company expects to gradually make cuts at its german powertrain plant by 2033. Chairman Martin Daum said that the transition will not involve forced layoffs, but instead will be achieved through early retirement benefits and voluntary severance agreements.

EV startup Fisker has reached a manufacturing deal with Foxconn to build electric vehicles. Foxconn, most notably known for building iPhones, has agreed to build Fisker’s second vehicle, which has yet to be announced and is expected to hit the market in late 2023. Fisker told the Wall Street Journal that production could take place at Foxconn’s factory in Wisconsin.

Tesla has put a temporary halt on production at its Model 3 assembly line in California. Tesla informed employees that the line would be down until March 7. Last month, Tesla said that it’s currently trying to mitigate the effects of the semiconductor shortage as it strives to meet its goal of increasing global vehicle deliveries by 50% in 2021.

This week, Carvana debuted the world’s first slot machine for cars. The online auto retailer launched its newest location in Las Vegas, Nevada. Upon arrival, customers receive an oversized Carvana coin to insert into the slot machine, which will activate the automated vending process. The new glass structure stands 11 stories tall with a 39-vehicle capacity.

News & Opinion:

mobileThe importance of a mobile-friendly shopping experience
Even if you’ve been stuck under a hood for the last decade, it’s not surprising to know that the selling of auto-parts and accessories has changed drastically over the last few years due to digital technologies and evolving habits. And the trends we’re seeing won’t be slowing down any time soon. What was once commonplace to head down to grab a particular part from the dealer or local shop gave way a handful of years ago to what is now a more familiar eCommerce way of life. And today, as you read this, it’s evolving once again from the mere online sales of eCommerce to mCommerce—the buying and selling of goods that are conducted on mobile smartphones or tablets. Read more

onlineThree easy ways to boost e-commerce sales at your dealership
Have you recently shifted to selling cars online? What about service repairs and parts? The automotive world has gone digital, and dealers committed to adapting will beat out the competition. However, if you are new to this world, it can be challenging to know how to jump in and put processes in place to see your online car sales flourish. Fortunately, there are steps you can take to put yourself in the best position to reach the masses and increase those sales online. Selling online doesn’t have to be daunting. Here are three simple and easy ways that you can boost online car sales. Read more

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CBT News
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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