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CBT automotive newscast: March 14, 2022

Featured Show:

How these two sisters and dealer principals are enriching opportunities for women across their stores
Two sisters out of suburban Chicago were brought into their family business as the next generation of successors. They are now running successful dealerships and join us today during Women’s History Month, to discuss their journey in automotive as women. We’re pleased to welcome Karmala Sutton, Dealer Manager at Honda of Kenosha, and her sister, Karen Ford, Dealer at Sutton Ford in Matteson, Illinois. Watch the complete segment here.

Headlines:

Ford Motor Company has made the move to start shipping and selling Ford Explorers, despite the vehicles missing chips that power A/C and heating controls for rear passengers. Initially, Ford planned to ship un-chipped vehicles to car dealers’ lots and install semiconductors before they were sold to consumers. Today, Ford has changed its tune and now these vehicles can be sold to customers at a reduced cost. Representatives from Ford say this measure is temporary and the chips for these vehicles will be installed within one year of purchase.

Goldman Sachs has given Tesla and other EV-related stocks a 50% potential upside or more, due to “greenflation” and rising prices for crude oil, CNBC reports. Despite price increases for raw materials, EV batteries, and lower subsidiaries, extraordinary gas prices have many consumers looking more closely at EVs. In fact, Goldman Sachs estimates that if oil is trading at around $100 per barrel, car buyers can save on average, $850 every year if they switch to an EV.

Speaking of Tesla, CEO Elon Musk has challenged Russian President Vladimir Putin to “single combat” via a Twitter post. The full tweet reads, “I hereby challenge (Vladimir Putin) to single combat. Stakes are (Ukraine)” —with Vladimir Putin written in Russian and Ukraine written in Ukrainian. The SpaceX founder tagged the Kremlin in a follow-up tweet. Musk also made comments recently that StarLink will not block Russian news sources despite requests from government bodies.

News & Opinion:

womenHow to attract and retain more women in F&I in 2022
March is International Women’s Month and probably the perfect time to look at how the F&I market looks for women in F&I. 2022 is bringing many challenges to the automotive space but that doesn’t mean that there aren’t unique opportunities for women to take a more prominent role here. In today’s dealership environment, it’s becoming more important than ever to embrace the unique qualities that a female can bring to the F&I process. With the industry still lagging by a fair margin with only about 17% of female F&I staff, much more can be done here. Read More

KBBKBB Brand Image Awards show consumers’ opinions on best brands
The results of the latest Kelley Blue Book Brand Watch Study have been compiled, and the results are posted in the 2022 Brand Image Awards. These awards are intended to highlight not just the carmakers who have sold the most vehicles, but to showcase brands that “excite and attract new shoppers”. The results are compiled based on responses from over 12,000 vehicle shoppers annually on KBB.com and focus on customer perception rather than sales data. Three brands were recognized as the top overall brands in their segment – Honda, Tesla, and Toyota. Read more


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CBT News
CBT Automotive Network is a multimedia broadcast platform serving automotive professionals. With interviews featuring the biggest names in the industry, daily newscasts following top stories, up-to-date market data, and exclusive articles covering the latest industry trends, CBT is the leading voice of the retail automotive industry.

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