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Lordstown sues Foxconn, new Stellantis chargers, Ford starts layoffs

Inside Automotive

Brian Pasch joins Inside Automotive to discuss the upcoming Google Analytics 4 launch, and its significance for automotive retailers.Is your dealership ready for Google Analytics 4? — Brian Pasch | PCG Companies
The arrival of Google Analytics 4 is swiftly approaching, meaning dealers must prepare for the next generation of digital data collection. On this episode of Inside Automotive, host Jim Fitzpatrick is joined once again by Brian Pasch, auto marketing expert and the Founder and CEO of PCG Companies, to discuss the transition and to share some of his observations. Watch full segment here.

Top Stories

Consumers and dealers expressed opposing beliefs and concerns over the electric vehicle market in a new Cox Automotive analysis.Consumers and dealers expressed opposing beliefs and concerns over the electric vehicle market in a new Cox Automotive analysis. Of the 1,024 car shoppers surveyed by Cox Automotive, 51% said they were considering an EV purchase in 2023. This number represents a substantial increase from 2021 when the number only reached 38%. Consumer respondents also expressed confidence in the electric vehicle market’s future, with 53% sharing the view that battery-powered cars will eventually replace their gas-powered predecessors. Read More

Electric vehicle brand Lordstown Motors is suing its former business partner Foxconn after filing for bankruptcy on June 27.

Electric vehicle brand Lordstown Motors is suing its former business partner Foxconn after filing for bankruptcy on June 27. The conflict stems from a deal struck by the two companies last year, which saw the Taiwanese tech conglomerate commit to buying $100 million worth of the EV manufacturer’s shares; $52.7 million due upfront and the remaining $47.3 million due after the Committee on Foreign Investment in the United States (CFIUS) certified the agreement. Read More

Stellantis charging

On June 27, Stellantis launched a “Charging & Energy” business unit to make keeping electric vehicles on the road easier and cash in on an expanding service range around greener mobility. The effort will offer a platform, Free2move Charging, to provide customers with services, including access to over 500,000 charging points in Europe through partners by the end of the year. The company said, “Insufficient charging networks across the industry have created ‘charging anxiety’ for all EV owners.” Read More

Ford's layoffsOn June 26, Ford announced it would carry out layoffs, primarily affecting engineering jobs in the U.S. and Canada, as the carmaker aims to cut costs while restructuring its business operations. All three of Ford’s business units, Ford Blue, Model E, and Ford Pro, are expected to be impacted by the job cuts. The automaker stated in its most recent quarterly report from May that it anticipated total expenses in 2023 to range between $1.5 billion to $2 billion, “mainly attributable to employee separations and supplier settlements.” Read More

For Dealers

Studies show that financial stress can heavily limit workplace productivity. Here are three ways dealers can help their employees.3 low-cost ways to help dealership employees reduce financial stress
Looking for a competitive edge amid an already insanely competitive automotive marketplace? Many employers lean towards lead generation and digital marketing as a solution. “If only we had more people walking through the front door….” What if I told you there was an 800-pound gorilla in the middle of your dealership, and you haven’t stopped to ask, “Why?” Underestimating the impact of financial stress on your employee’s performance could be the most significant oversight you make as a leader. Even more so in an industry that relies almost 100% on face-to-face interaction between employees and customers. Read More

In this article we discuss how to turn difficult car sales situations into opportunities for both the customer and the dealership.Why ‘bad news’ doesn’t exist in car sales
Car salespe­ople tackle various challenge­s every day, ranging from customer he­sitancy to financial hurdles. Although these type­s of tough conversations are a common aspect of the­ job, it’s worth wondering – does “bad news” have­ to exist in car sales? The solution lie­s in how salespersons frame and approach these situations. One way to handle­ unpleasant news is by pinpointing the typical issue­s that may occur throughout a sales transaction. Read More

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