Inside Automotive
Choosing an automotive sales career: is it still worth it? — Hugh Okoye | Ocean Cadillac
Among the many career paths in the car business, few are as challenging or rewarding as a job in automotive sales. But with a rapidly evolving industry landscape, joining a dealership’s sales department may seem more intimidating and less lucrative to new hires than it once did. On this episode of Inside Automotive, host Jim Fitzpatrick is joined on location by Hugh Okoye, general sales manager of Ocean Cadillac in Miami, to discuss his professional journey and what it takes to succeed in today’s car market. Read More
Top Stories
Electric vehicle inventory rose to new heights over the second quarter, dwarfing supplies of gas-powered cars in the U.S. According to Cox Automotive, the average days’ supply of electric vehicles totaled 92 days in Q2, more than twice the amount seen in mid-2022 and 80% higher than the industry average of 51 days. On a weekly basis, dealers held roughly 92,000 EVs in stock across the U.S., a 342% increase over the previous year’s 21,000. Read More
The state of Kentucky is requiring electric vehicle charging companies to include Tesla’s plug if they want to be part of a state program to electrify highways using federal dollars. Kentucky’s mandate took effect on June 30th, making it the first state to require Tesla’s charging technology, despite Texas and Washington’s announcement with similar plans. Read More
On June 30, General Motors said it had acquired Algolion, an Israel-based software startup that can detect potential hazards in battery cells. The automaker disclaimed that Algolion’s six employees, including the company’s founders, will remain based in Israel and join more than 850 employees at the GM Technical Center in Herzliya, Israel. Read More
Toyota says it has made a breakthrough in solid-state electric-vehicle batteries, which will significantly reduce manufacturing costs while providing greater performance than current models. On July 4, the automaker announced it had devised a new, cost-effective method to produce solid-state EV batteries capable of driving nearly 750 miles on a single, 10-minute charge. Read More
For Dealers
(Presumed) tough times mean a back-to-basics approach
The R-word. The one no dealer wants to hear and well…none of us want to think about it. Recession. And though most economists are saying we’re not in one quite yet, there’s still some that are predicting the worst as we head into the second half of the year. Now is not the time to stick your head in the sand…it’s a time to be prepared to do things better so that you can stave off any potential crises if they do pop up. Read More
4 ways dealers and automakers can support customers and drive loyalty
In the past three years, nearly every industry has experienced a dramatic shift in consumer expectations. The auto industry is no exception, with services like online car sales and EV purchases seeing significant growth. The hard truth: consumers expect more from the brands they buy from, making relationship management more important than ever before (one recent McKinsey & Company report identified nearly 900 individual touchpoints across the car-buying journey alone). Read More
