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Commercial service centers, Tesla stock downgrade, Vehicle transaction prices

Inside Automotive

repercussionsMatt Easton shares key sales advice: ‘Stop selling and talk about the repercussions of not acting’
When it comes to prospective buyers, salespeople need to ask the right questions. According to Matt Easton, Sales Trainer, Consultant, and Founder of Easton University, asking your buyer questions regarding the repercussions of not taking action, has power. Therefore, Matt Easton joins us on today’s episode of Inside Automotive to further elaborate. Watch full segment here.

Top Stories

commercial service

Over 120 dealers have signed onto Ford’s plan to add commercial service centers to storefronts across the country. Each center is required to operate a minimum of 24 bays and five mobile service vans. While the final cost of each facility will vary between locations, reports from participating dealers suggest a range of $9 million to $15 million, with the potential to earn conditional funding of up to $550,000 from Ford. Last year, the brand initiated a similar program for its franchisees to encourage electric vehicle adoption. Read More

Berenberg

Following a series of unexpected price cuts and mixed reviews over the automaker’s annual Investor Day, a Wall Street analyst has downgraded Tesla’s stock rating to hold. The report, published by investment bank Berenberg, reasoned that the brand has little room for error due to increased competition in the EV space and high interest rates, increasing the risk to investors with above-market expectations. The analyst also predicted that Tesla will take much longer to introduce a budget-friendly model to its lineup than expected, dashing shareholder hopes that the company would soon break into a wider segment after losing market share to legacy automakers. Read More

transaction prices

A new report from Kelley Blue Book reveals that new vehicle transaction prices decreased by 1.4% in February, while incentives rose 3% month-over-month. The average car transaction now costs $48,763, $705 lower than January but up $2,466 from the same period last year. OEM to dealer incentives have risen to the highest point in almost a year, reaching an average of $1,474. The study also notes that EV prices dropped more than $1,000 on average, the third consecutive month of decreases. Read More

F-150 Lightning

New data from Ford suggests that F-150 Lightnings are being used for heavy-duty work more than the traditional I.C.E.-equipped version. Speaking to the Detroit Free Press, the brand explained that, on average, owners of the electric pickup spend more time using the vehicle for home projects, hauling and camping than traditional F-150 drivers. Ford also noted that a majority of Lightning consumers did not own a truck prior to their purchase, while the complete opposite was true for the truck’s gas-powered counterpart. Read More

For Dealers

Building a dealership culture inclusive of female employeesHow to build a dealership culture that attracts and retains female employees
Throughout the past decade, women have undoubtedly begun to prove they can hold top leadership positions in the automotive industry. Dealership staff has started to include more females, which is often a very wise business decision seeing as women can bring different perspectives on things and can also draw in more female customers. Along with this change, however, comes the need to build a dealership culture that attracts and retains female employees. Read More

candidatesWhat should you look for when interviewing candidates for the dealership?
Over the last year, you’ve lost employees because of everything that surrounds the shutdowns. But now that business is back in most dealership areas, you probably now find yourself looking for employees. Although there may be a good number of people available, how do you find the right fit? Do you only use experience or seek people with character and desire to learn? First, let’s check out some qualities of a good candidate. Read More

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