Inside Automotive
How Bergstrom Automotive is adapting to post-COVID industry trends — Tim Bergstrom
While the industry collects itself in the aftermath of COVID, dealers are on the frontline tackling never-before-seen automotive trends. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Tim Bergstrom, CEO and president of Bergstrom Automotive, to discuss how the car business has changed and what he foresees in the future. Watch the full segment here
Top stories
Electric vehicle customers are highly likely to consider new brands when shopping for a product, according to an Edmunds study on brand loyalty in the EV market. In its 2023 EV sentiment survey, the research firm found that 85% of EV consumers would consider purchasing from a brand they have never bought from. Jessica Caldwell, executive director of insights at Edmunds, noted that this trend challenges the norm car manufacturers are used to. Read More
Electric vehicle maker Rivian has agreed to adopt Tesla’s charging standard, issuing customers access to the most predominant U.S. charging network and adding momentum to Tesla’s bid to set industry standards. Automaker Hyundai’s president said the company would consider joining the alliance of automakers shifting to Tesla’s standard but that it would have to determine what is in the best interest of its customers. Read More
Ex-Nissan CEO Carlos Ghosn has filed a lawsuit against his former employer, seeking $1 billion in compensation for alleged defamation, slander, libel and fabrication of material evidence. The case was filed on May 18 in Lebanon, where Ghosn has evaded fraud charges arising from his tenure at Nissan. Reuters reports that the court will hear the case in September. Read More
A $27,000 battery-electric vehicle (BEV) from Stellantis is scheduled to be unveiled in 2024, possibly at the same time as the Volvo EX30 and the Volkswagen ID. Additionally, Stellantis’ BEV is set for sale around the same time as Tesla’s $25,000 vehicle launch. Read More
For Dealers
Q&A with ACV’s Randy Barone: How to perfect your dealership’s wholesale strategy
In today’s dynamic wholesale market, dealers are challenged with navigating historically high used car prices and fluctuating inventory within a digital environment. To stay competitive, dealers must prioritize effective inventory management and strategic sourcing. Gone are the days of placing any vehicle on the lot. Instead, dealers need to leverage up-to-date data to make informed decisions about the right vehicles to buy from the right sources. Read More
Synergizing sales and F&I: unlocking efficient communication for faster car sales
The automobile industry has undergone remarkable changes, and the dealerships that have embraced them have thrived while those that didn’t were left behind. However, one aspect that’s often disregarded is the internal communication between sales and F&I teams. Improving this line of communication can unlock impressive efficiency gains and faster car sales. Read More
