April sales: Hyundai, Lordstown Foxconn conflict, declining aftermarket service satisfaction

Inside Automotive

Ryan Osten joins Inside Automotive to discuss digital retailDigital retail: what makes a good e-commerce platform? – Ryan Osten | Gubagoo
Digital retailing has become particularly popular among car dealers and consumers over the last three years. But to remain competitive, dealers must not only have the right tools but also the right strategies. On this episode of Inside Automotive, we find out how dealers can bridge the gap between the online and in-store shopping experiences with Ryan Osten, Executive Vice President at Gubagoo, an e-commerce platform offering solutions for the modern auto industry. Watch full segment here.

Top Stories

Hyundai and KiaThe demand for Hyundai and Kia continues to grow in the U.S., as shown by strong sales numbers over April. Hyundai sold more than 70,812 units during the month, a gain of 15% from 2022 and the second-best April in the automaker’s books. Kia also saw sales improve 15% year-over-year, breaking its prior April record with sales of 68,205 units. The news arrives just after the first quarter, which saw both brands enjoy higher profits, more deliveries, and faster production. Read More

Lordstown Motors at risk of bankruptcy after Foxconn threatsLordstown Motors could be facing bankruptcy after allegedly breaking its contract with Taiwanese electronics manufacturer Foxconn. In a letter, the tech company accused Lordstown of violating its commitment to keep stocks above the $1 mark. However, the EV brand has denied any breach of agreement, and argued that Foxconn is still contractually obligated to provide nearly $50 million in investments. Negotiations between the two companies are currently underway. Read More

Tesla pricesTesla has marginally raised prices for the Model 3 sedan and Model Y SUV in several major markets. The two vehicles now cost an additional $250 to $290 in the U.S., China, Japan and Canada, a move which arrives just four days after the last adjustment. The automaker has gradually reduced prices over the course of 2023, offering lineup-wide discounts on at least eight occasions. Read More

aftermarket, ASI, J.D. Power, studyIn a new study, J.D. Power says that customers are becoming less satisfied with aftermarket service providers. Research participants encountered more issues with service facilities, staff courtesy and pricing than in 2022, and reported long wait times and poor work quality. Overall sentiments have now fallen for the third year in a row, with quick-oil-change brands seeing the largest drop in approval out of all aftermarket segments. J.D. Power suggests encourages providers to offer more amenities, such as snacks, EV charging and workspaces to improve the customer experience. Read More

For Dealers

Breaking down communication silos between departments in your dealership can lead to increased collaboration, better decision-making, and improved productivity.How to break down communication silos between departments in the dealership
In a dealership, effective communication between departments is crucial for success. However, communication silos can impede collaboration and hinder productivity. By breaking down these barriers, dealerships can foster innovation, improve decision-making, and boost overall performance. In this article, we’ll explore strategies for breaking down communication silos between departments in a dealership. Read More

Customers are not likely to stay on a website that is confusing to navigate, as patience wears thin and they may decide to shop elsewhere. digital retailing personalized marketingFirst impressions matter: What message does your dealership’s website send?
The critical acceleration of digital retailing has undoubtedly led almost every industry to invest heavily in technology and eCommerce solutions. This includes the auto industry, with dealerships needing to design attractive, attention-grabbing websites to draw customers in and ultimately lead to sales. First impressions truly do matter, as dealers’ websites can influence customers to either shop for cars with them or choose to shop elsewhere. Read More

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