Inside Automotive
From car salesman to mega-dealer: Cuban-born Mario Murgado’s journey to unparalleled success
On today’s Executive Profile, we visited Mario Murgado, President and CEO of Murgado Automotive Group, at his brand new, state-of-the-art Cadillac dealership in Miami, Florida. Like many Cuban immigrants seeking political refuge in the 1960s, Mario came to the United States alone just five days before his fourth birthday. In 1981, he entered Miami’s Braman Imports and landed a job selling new Hondas. Over the next 12 years, he became president and managing partner at Braman Imports and Palm Beach Imports. The rest, as they say, is history. Watch the full segment here.
Top stories
This week, Haig Partners served as the exclusive sell-side advisor for the most expensive dealership purchase in history with the sale of Al Hendrickson Toyota to Morgan Automotive Group. Al Hendrickson Toyota, located in Coconut Creek, Florida, is the nation’s second-busiest dealership, with the distinction of selling the most passenger cars among any franchise in 2022. The storefront worked solely with Haig Partners for the transaction, successfully negotiating the highest blue sky value on record. Read More
Elon Musk may have his very own supersecret driver mode that enables hand-free driving in Tesla vehicles. A security researcher, who goes by the handle “@GreentheOnly,” discovered an intimate setting in Tesla vehicles that the company could enable and allows a driver to use Tesla’s advanced driver assistance systems, marked as Autopilot and Full self-driving, FSD, without keeping their hands on the steering wheel for an extended period. Read More
Tesla‘s status as one of the top U.S. car manufacturers received a boost on June 21, when its entire electric vehicle lineup dominated the four top spots in Cars.com’s 2023 American-Made Index, a study examining trends in domestic vehicle production and sales. Using component-sourcing, employment, and manufacturing-location data, the study selected 100 gas-powered, hybrid, and electric vehicles out of 388 entries to feature in its rankings. Read More
Ford’s chairman, Bill Ford, announced on June 20th that the Ford Fund is initiating a $5.8 million investment in disaster relief operations to aid communities affected by tornadoes, floods, hurricanes, and wildfires. The announcement is a part of the five-year partnership between the automakers’ charitable arm and Team Rubicon, a veteran-led nonprofit organization in the U.S. Read More
For Dealers
How your dealership can find stellar automotive technicians
Hiring technicians today is more than putting bodies in service bays. These team members have to have the right skill set, possess a strong work ethic, be able to get along with others, and understand customer needs. This comes at a time when there’s a tight talent pool, constant training requirements, and high turnover. Read More
Women owners of electric vehicles: tapping into a growing market
As electric vehicles (EVs) continue to gain popularity, it is crucial for automotive retail businesses to understand and cater to diverse consumer segments. In recent years, women have emerged as a significant force in the EV market. Today, we’ll explore some of the statistics on women owners of electric vehicles, sheds light on their motivations, and provides insights into effective marketing and sales strategies to engage and attract this growing demographic. Read More
