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CBT automotive newscast: June 21, 2021

Featured Interview:

influencerHow you can influence and impact your organization’s success in 3 simple steps – Bill Berman, leadership expert
We are often influenced by the people and work that surrounds us, at any level. So how can you better influence and impact your organization’s success? On today’s show, we’re pleased to welcome Bill Berman, executive coach, founder of Berman Leadership Development, and author of Influence and Impact: Discover and Excel at What Your Organization Needs From You The Most. Watch the complete segment here.

Top Headlines:

U.S. Senators have proposed a new 25% tax credit for investments in semiconductor manufacturing as congress works to increase U.S. chip production. Although the Senate didn’t provide an estimated cost for the proposal, last week the Senate approved a $52 billion budget for production and research on semiconductors and telecommunications equipment. $2 billion of that budget is specifically for chips used by automakers.

Speaking of chip shortages, Subaru will be temporarily shutting its plants in July due to the worldwide shortage of semiconductors. Although the company hasn’t set a date for the shutdown, a spokesperson from the company said, “[Subaru] will continue to make adjustments to minimize impact.”

In other news, Ford Motor Company is on its way to developing the most advanced charging and energy management experience for commercial customers. After acquiring Electriphi, Ford will accelerate EV fleet adoption by offering commercial customers, depot charging management for some of their vehicles such as the F-150 Lightning Pro trucks and e-transit vans. The charging platform will help commercial customers with ecosystem services, employee home charging, public charging, and e-telematics solutions. This investment is part of Ford’s proposal to invest over $30 billion by 2025 to lead the electrification revolution for commercial and retail customers.

Since 2016, the National Highway Traffic Safety Administration has opened 30 investigations into Tesla crashes which resulted in ten deaths. Of those thirty crashes, the NHTSA has tossed out three cases where the autopilot system was involved. The investigations are still ongoing and Tesla has not responded to requests for comment.

News & Opinion:

catalytic converterWhat can car dealers do about rampant catalytic converter thefts at dealerships?
Last week, the Bill Barth Kia dealership reported that they were the target of a thief that stole three catalytic converters and damaged four other vehicles in a single night. The Bismarck, ND dealership has been hit twice before for catalytic converters which Travis Barth says can cost “around $2,500” to replace. The problem is compounded for Barth as the replacement parts are in short supply. He says, “Not only is it frustrating that we have to spend that much money on a new vehicle and can’t sell it, but with the parts, there is really no estimated ship date. So, these vehicles end up sitting in the back lot waiting for parts to show up.” Read more

multicultural marketingSix tips for mastering multicultural marketing at your dealership
Today’s consumer looks much different than they did two decades or even ten years ago. According to Deloitte, millennials are the most diverse generational cohort in the history of the United States. Roughly 44% of this group consists of racial or ethnic minorities. This evolution of demographics has made the need for multicultural marketing strategies no longer optional. Creating messaging that resonates with multicultural groups is not only the right thing to do to garner trust, but it also makes good business sense. 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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