Inside Automotive
What to expect from the 2024 dealership buy-sell market — Erin Kerrigan | Kerrigan Advisors
As the retail automotive sector has adjusted to new technologies, government policies, and consumer preferences, so too has the dealership buy-sell market. Although the pace of mergers and acquisitions activity remains intense, many retailers looking to grow their businesses or exit the industry altogether are no longer familiar with what buyers are looking for. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Erin Kerrigan, founder and managing director at Kerrigan Advisors. Watch full segment here.
Top Stories
According to estimates from Kelley Blue Book, a subsidiary of Cox Automotive, a record high of 1.2 million American car buyers opted for electric vehicles last year. This marks a steady shift towards an electrified future as 1,189,051 new EVs were placed into operation. Estimates from Kelley Blue Book also indicated that in 2023, EV sales accounted for 7.6% of the overall vehicle market in the U.S., an increase from 5.9% in 2022. Read More
Tesla has slashed driving range estimates across its model lineup in response to new regulations aiming to improve transparency in the electric vehicle sector. The EV maker has previously faced criticism from consumers, third-party analysts, and federal regulators for exaggerated driving range estimates. Last year, Reuters reported that Tesla received so many calls over the issue that the company created a secret division in 2022 tasked solely with suppressing customer complaints. Read More
At the Consumer Electronics Show (CES) 2024 in Las Vegas, Honda unveiled two innovative, electric concept cars as part of its “0 Series.” Set to debut in North America in 2026, the 0 Series will utilize advanced driver-assistive systems linked to Honda’s Sensing Elite software. The “Saloon” is the flagship of the 0 Series, and features a design focused on maximizing space and efficiency. The vehicle has a low, wide exterior and spacious interior. Read More
Tesla has introduced an upgraded Model 3 sedan in North America, which was previously available only in China, the Middle East, and European markets. The Model 3, which was codenamed “Highland” during its development, has undergone several visible changes, making it a better entry-level EV option. These features include a new backseat screen, ambient light, and more. The revamped model is now taking orders for deliveries. Read More
For Dealers
How situational leadership can elevate your entire team
In the ever-changing world of leadership, it is evident that one approach cannot effectively suit all situations. The ability to adapt and customize leadership styles based on the distinctive needs of individual team members delivers formidable results, propelling entire teams towards unparalleled achievements. This article delves into the transformative concept of situational leadership—an adaptive leadership style approach that highlights the flexibility and a comprehensive understanding of each team member’s readiness levels. Read More
5 reasons to work in the retail automotive industry
Technology is always evolving, and one of the industries that consistently pushes the boundaries of innovation is the automotive industry. When it comes to careers in the industry, however, there are various misconceptions that shine a negative light on them. In many cases, when people hear the phrase “retail automotive industry,” they think of desperate salespeople with a poor work-life balance and lackluster benefits standing in a showroom hoping customers come in and help them reach their quotas. In reality, however, this is far from the truth, and careers in the industry can be extremely fulfilling. Read More
