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February new vehicle supply, Audi’s 2023 outlook, Honda recalls 500,000 units

Inside Automotive

Leading employees through times of change – Scott Mautz
Leadership requires you to be flexible and embrace change… but for many of us, it’s easier said than done. So how can you lead change effectively for your team? Today on Inside Automotive, we’re pleased to welcome back Scott Mautz, founder of Profound Performance, Inc. Magazine‘s top 50 leadership innovator, and best-selling author of Leading from the Middle. Watch the complete segment here.

Top Stories

supply and salesA Cox Automotive report has revealed that February new-vehicle supply and sales grew year-over-year. According to new data analysis from Cox Automotive and vAuto, new vehicle supply ended February higher than it did in January despite surprisingly strong sales and a decrease in average listing prices. At the end of February, 1.8 million new vehicles were available on the market, and days’ supply was 56. Read More

home chargingAccording to J.D. Power’s 2023 U.S. Electric Vehicle Experience Home Charging Study released on March 16, 2023, the growing EV market has experienced rising electricity rates partly due to the recent inflationary period, which has led to lower satisfaction with home charging. Although more than two-thirds (68%) of EV owners have a permanent level 2 charging station at home, their overall satisfaction decreased by 12 points from last year on a 1,000-point scale, the study found. Read More

Image Source: Audi Newsroom

Audi, a Volkswagen-owned brand, projected a significant revenue increase in 2023, it said on Thursday. Nevertheless, Audi anticipates a more cautious profitability margin as higher costs weigh on profits. The automaker plans to normalize its product mix and provide customers with lower-priced models now that chip shortages are less severe. The company projects a profit margin of 9-11% for the group that includes Audi, Bentley, Lamborghini, and Ducati, down from 12.2% last year. Read More

seat beltsAccording to documents published on Wednesday by U.S. safety regulators, Honda is recalling around 500,000 vehicles in the U.S. and Canada due to faulty locking mechanisms impacting front seat belts. Some of the automaker’s best-selling models are included in the recall, like the CR-V (model years 2017–2020), Accord (model years 2018–2019), and Odyssey (model years 2018–2020) odyssey. According to Honda, the surface coating on the buckle channel can erode over time. Read More

For Dealers

local search SEO, Search Engine Optimization, Web browser concept.How to own local search in 2023: Key trends for auto marketers to know
According to SEO software company MOZ, local inquiries accounted for almost half of Google’s two trillion searches yearly. Local search is a significant part of any brick-and-mortar business’ marketing strategy, and this especially applies to dealers. Being in the top listings for “car dealer near me” or “used car dealer in X city” is the target. However, the world of local search is consistently changing. What are some of the key trends that are shaping local search in 2023? Check out these takeaways: Read More

Mature salesman delivering an excellent customer experience to a man and woman in cr dealership showroom.5 unique customer experience best practices to try this year
Customer experience is the number one brand differentiator. It is the holistic perception of customers and their interactions with an organization and its products and services throughout their relationship. Customer experience is part of the three Es in the value chain: Efficiency, Effectiveness, and Experience. You cannot have efficiency and effectiveness without experience. Read More

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Jaelyn Campbell
Jaelyn Campbell
Jaelyn Campbell is a staff writer/reporter for CBT News. She is a recent honors cum laude graduate with a BFA in Mass Media from Valdosta State University. Jaelyn is an enthusiastic creator with more than four years of experience in corporate communications, editing, broadcasting, and writing. Her articles in The Spectator, her hometown newspaper, changed how people perceive virtual reality. She connects her readers to the facts while providing them a voice to understand the challenges of being an entrepreneur in the digital world.

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