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CBT Automotive Newscast: July 17, 2020

Today’s Featured Interview:

Ohio Dealer Chris Marhofer Discusses Used-Car Inventory Strategy
In the midst of the uncertainty of COVID-19, many businesses are just looking for ways to get by. For Chris Marhofer, President and COO of Ron Marhofer Auto Family, surviving turned into thriving. Chris joined anchor Jim Fitzpatrick to talk about how they were able to have a record month in the midst of a pandemic. Watch the full-length interview here.

Top Headlines: 

A name can define everything. For Fiat Chrysler and PSA Groupe, a name was the only loose-end left in the automakers’ recent merger. The newly combined companies put a nice bow on that aspect of the business, naming the newly merged auto group “Stellantis”. While the company name is new, the names of their auto brands such as Alfa Romeo, Chrysler, and Fiat will all remain unchanged.

From new names to new factories, the state of Texas has offered Tesla, Inc. 80 million dollars in incentives to build a 136-acre site in Travis county. The state has been battling Red River rival Oklahoma to be the new Gigafactory destination for the EV maker.

Another player in the electric car space is ramping up manufacturing plans. General Motors is speeding up plans to switch entirely to battery-powered cars, while also making plans for wind and solar-powered solutions to power its plants. GM believes the transportation industry will look very different in the next five to ten years.

State leadership in Michigan is adamant about health and safety in the midst of another surge of COVID-19 cases. Governor Gretchen Whitmer indicated that thousands of employees working at automotive plants could be sent home if they don’t mask up. Auto manufacturing plants in Michigan were shut down earlier in the year for a duration of eight weeks and they could be in jeopardy of closing again.

News Stories & Opinion:

automotive newscastSubaru Tops J.D. Power Automotive Brand Loyalty Study Again

For the second year in a row, Subaru ranks highest in mainstream brand loyalty, according to J.D. Power’s 2020 U.S. Automotive Loyalty Study. Subaru owners who are trading in or purchasing a subsequent vehicle have a loyalty rate of 60.5 percent. That rate narrowly beats out second-place Toyota with a loyalty rate of 60.3 percent as well as Honda at 58.7 percent, RAM at 57.3 percent, and Ford at 54.3 percent. Read More

automotive newscast4 Custom Audiences Your Dealership Should Use in Facebook Ads
As an automotive marketer, you’re putting valuable time and money into your Facebook advertising strategy. That’s why it’s so important for your ads to be seen by the right audience. While Facebook’s interest-based targeting features have their place, they should no longer be the only audience you rely on when building your Facebook ads. Read More

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CBT News
For over 10 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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