Ford posts revenue gain, dealers adopt AI, GM fights Biden on emissions

Inside Automotive

John Myers and Matt Heydon join Inside Automotive to discuss how Toyota is working with dealers to boost fixed operations efficiency.Fine-tuning the service experience for today’s car buyers — John Myers, Matt Heydon | Toyota
Toyota Motor North America’s digital retailing service Smartpath makes it easier for shoppers to buy and finance their vehicles online. Now the brand is rolling out a new service platform, which more than one-third of its dealers have already committed to support. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by John Myers, general manager of retail transformation for Toyota Motor North America and Matt Heydon, group manager of retail transformation for Toyota Financial Services, to discuss these new platforms and how dealers are getting involved. Watch full segment here.

Top Stories

Ford outperformed analyst expectations for the second quarter, posting higher year-over-year revenue and increasing its earnings forecast.

Ford outperformed analyst expectations for the second quarter, posting higher year-over-year revenue and increasing its earnings forecast for 2023. Ford reported an automotive revenue of $42.43 billion, beating Wall Street’s expectations by over $2 billion. The automaker’s net income for the period totaled $1.9 billion, an increase of roughly 288% from the prior year’s $667 million and 5% from the first quarter’s $1.8 billion. Read More

Disapproval of ElonSince the acquisition of Twitter, Elon Musk has frequently shared his political and social views, as well as controversial conspiracy theories. This has altered people’s minds about Musk, and many have suggested his statements may harm the Tesla brand. However, Musk dismissed concerns claiming to be “More popular than ever before” based on his Twitter follower count. Until recently, there’s been little evidence to suggest his behavior has negatively affected Tesla. Read More

Car dealers are eagerly adopting new artificial intelligence tools, according to research by software provider CDK Global.Car dealers are eagerly adopting new artificial intelligence tools, according to research by software provider CDK Global. An overwhelming majority of car dealers now feel that artificial intelligence has helped their businesses grow. In a survey of 230 dealership executives and managers, 76% said AI had already made a positive impact on their business. Of the respondents who planned to integrate the technology in the future, 60% held optimistic expectations, a 4% jump from a previous poll in 2021. Read More

GM emissions

General Motors has expressed concerns that the Biden Administration’s proposed modifications to car emissions regulations might result in hundreds of billions of dollars in fines for the entire industry by 2031. However, the Biden administration disagrees with GM’s claim. On July 27, GM executive David Strickland met with the White House Office of Management and budget representatives to discuss the administration’s improved car fuel efficiency proposal. Read More

For Dealers

As the demand for electric vehicles surges, it is crucial for dealers to develop a sound marketing strategy to address these buyers.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

ituational leade­rship represents a style­ that emphasizes adapting one's approach to match the nee­ds and readiness of staff members.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

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