Inside Automotive
Jen Suzuki’s expert tips on maximizing opportunities in auto sales
A new year is filled with new opportunities. For sales teams asking how to crush it, this Inside Automotive episode may be the one for you. Jen Suzuki, Sales Trainer, President of eDealer Solutions, and Host of the podcast Dealer Talk with Jen Suzuki, is joining us. Suzuki discusses the key elements salespeople need to take away from the endless opportunities of a new year. Watch the full segment here.
Top Stories
Used car prices are expected to make a slight recovery over the course of 2024, reversing course after two consecutive years of sharp declines stemming from the COVID pandemic. Cox Automotive forecasts wholesale used car prices will rise 0.5% year-over-year by December, following a 7% drop in 2023 and a 15% drop in 2022. Although the improvement is marginal, the company expects the 2024 pre-owned vehicle market to be relatively stable as inventory, demand, and affordability trends shift back toward pre-pandemic norms, benefitting both consumers and dealers who have struggled with unpredictable conditions since 2020. Read More
At the 2024 Consumer Electronics Show (CES) in Las Vegas, Kia unveiled its Platform Beyond Vehicle (PBV) future strategy. Kia’s PBV business will first revolve around introducing an all-new, modular car, the Kia Concept PV5. As several established manufacturers abruptly scale down their electric vehicle (EV) strategy, Hyundai, which comprises Hyundai, Genesis, and Kia, remains committed to advancing electric mobility across multiple markets. Read More
On January 8, LexisNexis Risk Solutions, a provider of data and analytics for the insurance and automotive industries, revealed that customer brand loyalty in the U.S. grew in 2023 based on information gathered throughout the year. From January to December 2023, researchers calculated vehicle brand loyalty by analyzing 107 million garages throughout the U.S. According to research by LexisNexis Risk Solutions, 51.3% of new car buyers in 2023 remained faithful to the brands they already owned, a 1.6% rise from 49.7% in 2022. Read More
Stellantis, in partnership with Amazon Web Services (AWS) and BlackBerry QNX, has unveiled a new virtual cockpit simulator, creating new possibilities for development teams designing applications and software for vehicle infotainment systems. The Stellantis Virtual Engineering Workbench (VEW), which the automaker calls an “industry-first platform,” is a cloud-based development tool that simulates an onboard vehicle computer system, complete with user interface controls. Read More
For Dealers
How to electrify your EV marketing strategy
Electric vehicles are becoming more prominent in dealerships. With customer interest in EVs rising along with occasional spikes in gas prices, it’s time to start flexing your digital muscle to sell these new kinds of vehicles. Strategies will vary based on the platform, so we’ll give you some basic ideas on how to market electric vehicles through paid search marketing, SEO, and social media. Read More
2024 – Innovate or Stagnate
Let’s just say it out loud, yes, there are headwinds and challenges ahead for dealerships. Yes, the challenges are in both sales and service. Whether you look at the insightful data from Cox Automotive which states that only 30% of total vehicle service business is going to dealerships, or the continual and growing retention problem plaguing the service advisor role or the never-ending frustration of customers during a disjointed and slow sales process – there are undoubtedly problems to solve in dealerships. Now that we have confessed to the problems, what will we do about them – innovate or stagnate? Read More
