Inside Automotive
NAMAD’s Damon Lester on the latest dealer diversity and inclusion efforts
The automotive industry has historically struggled with the rise of diversity and inclusion. But in recent years, there has been a push for greater diversity. Organizations like the National Association of Minority Automobile Dealers, NAMAD, have helped to increase the number of minorities owned dealerships. So, on today’s Inside Automotive, Damon Lester, Interim president of NAMAD, is providing us with an update on where things stand, and the relationship OEMs have with minority dealers. Watch the full segment here
Top stories
Dealer sentiments improved substantially over the previous quarter, driven by unexpectedly high sales and revenue. Cox Automotive tracks retailer outlooks through its Dealer Sentiment Index, periodically measuring attitude changes over the car market’s performance. Read More
Ford has debuted a redesigned version of its popular midsize pickup, the Ranger, for the model year 2024. Engineers have undertaken a complete overhaul of the Ranger implementing significant improvements that draws inspiration from the F-150. The new Ranger is more extensive, with the wheelbase in track expanded by 2 inches each resulting in more bed space. Read More
Group 1 Automotive revealed the acquisition of three dealerships in Texas on May 8, 2023, as it continues to ramp up its growth efforts. In a press release, the auto group indicated the high-volume storefronts would generate an additional $760 million in annual revenue and would push the organization’s acquired earnings to $910 million. Read More
Nineteen local charities have benefited from Buck Baumann’s generosity and community support for the past two decades. Recently, the company kicked off its 21st annual Baumann Auto Group big charity raffle. The raffle features a grand prize of a new car and, so far, has raised $1,183,997 to date. Read More
For Dealers
Shifting Focus: Making your dealership’s data work for you
In today’s rapidly evolving automotive retail industry, adapting to challenges is crucial for dealerships to stay ahead of the competition. Your dealership’s data is key to navigating through those challenges and driving sustainable success and long-term profitability – but to do so, dealers must first understand and prioritize the activation, integration and security of their data. Read More
Selling is discovery: Determining what your customer needs [+5 questions to avoid]
Even all-star sales team members can experience hiccups when helping car buyers find the best vehicles for them. You may have a customer who knows what they want, but pricing may be a significant limiting factor. On the other hand, another customer might have the money to spend but still may not know the type of vehicle they’re looking for. Read More
