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CBT automotive newscast: July 8, 2021

Featured Interview:

PaschBrian Pasch addresses the digital marketing challenges car dealers are facing today
How are you addressing your marketing measurements in today’s digital landscape? Joining us on today’s show Brian Pasch, Founder, and CEO of PCG Companies, also the host of CBT’s monthly series, Auto Marketing Now, to discuss marketing measurement challenges for dealers and agencies today. Watch the complete segment here.

Top Headlines:

16 Republican State Attorney Generals are pushing for the EPA to reconsider California’s clean car program waiver, which allows the state to set its own greenhouse gas emissions standards and zero-emission vehicle mandates. Multiple states are requesting the agency to instate Trump Administration policy, which would revoke California’s authority to limit tailpipe emissions and other mandates. This month, the EPA plans to present vehicle fuel-efficiency rules that will be tougher than Trump-era standards.

Shareholders of EV maker Nikola, have rejected a proposal to further compensate its “named executive officers,” including Founder Trevor R. Milton. The compensation plan includes salary, bonus, and stock awards for a total of six people, including CEO and President Mark Russell and Chief Legal Officer Britton Worthen. This rejection illustrates shareholders’ discontent with Nikola leadership and the multiple class-action lawsuits challenging the company.

Volkswagen has announced that it is looking to sell a partial stake in Electrify America. The billion-dollar question is, what company would be interested in the deal? As part of a settlement from the diesel emissions scandal, Electrify America was launched. Instead of the automaker paying fines, they were forced to invest $2 billion in ZEV charging infrastructure. Volkswagen now owns the biggest third-party fast-charging network in the U.S.

Actor Mark Wahlberg and dealer partner Jay Feldman have acquired their fifth dealership in Ohio. Joe Firment Chevrolet in Avon, Ohio was acquired for an undisclosed amount and will be re-named Mark Wahlberg Chevrolet of Avon. In a recent statement, Wahlberg said, “the people of Ohio have really embraced our sales and service standards. With this expansion into the Cleveland area, we are deepening our bond with our midwestern customers.”

News & Opinion:

contentHow to build valuable, digital content for your car-buying audience
Many car dealerships struggle with the consumer-facing content that they send out. Social media posts, blog content, and newsletters inevitably become saturated with new model release info or details about a new sale that’s time-sensitive. There’s absolutely nothing wrong with sending your email list promotions, but it will only resonate with a small portion of readers who are dissatisfied with their current car or ready for a new one. Read more

EVsNewly proposed EV legislation sparks controversy
As the push towards the electrification of the auto industry continues, questions about incentives and discounts remain a point of contention for lawmakers, automakers, and consumers. Back in April, the Senate Finance Committee voted to advance the Clean Energy for America Act, which the committee said would “consolidate current energy tax incentives into emissions-based provisions that incentivize clean electricity, clean transportation, and energy efficiency.” Read more

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CBT News
CBT News
For over 11 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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