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Tesla shareholder meeting, CPO sales decline, new Ford recall

Inside Automotive

paradigm shift, ZieglerWhy Jim Ziegler thinks the F&I market is going through a paradigm shift
From franchise system threats to supply chain disruptions, the retail automotive industry has faced unprecedented challenges recently. On today’s Inside Automotive, we’re joined in the studio by Jim Ziegler, automotive retail veteran, speaker, and President of Ziegler SuperSystems, to give us his perspective on the current state of the automotive industry. Watch full segment here.

Top Stories

Toyota now ranks 10th for future readiness according to the International Institute for Management DevelopmentThe Institute for Management Development lowered its preparedness ranking for Toyota from second to tenth over the automaker’s outdated electric vehicle products. Although the company’s new CEO, Koji Sato, has promised to substantially increase EV research and development, IMD director Howard Yu expressed doubt on “whether Toyota can scale these new capabilities ahead of the competition.” Claiming the Japanese brand’s former position is Chinese manufacturer BYD, which the institute praised for its in-house production capabilities. Read More

Tesla's annual shareholder meeting concluded Tuesday, May 16, leaving investors with a long list of developments to watch forTesla chief Elon Musk offered several updates during the company’s annual shareholder meeting. The CEO reiterated the brand’s commitment to launch the long-awaited Cybertruck later this year, and predicted the Model Y would become the “Number one selling car on earth.” Musk also showcased teaser images of the brand’s next model, which he noted was already in production. During a Q&A session, the entrepreneur dismissed rumors that he was planning to retire, garnering applause from meeting attendees. Read More

Certified pre-owned, sales, CPOCox Automotive witnessed declining certified pre-owned sales over the course of April. While volume remained higher than January and February, total CPO sales dropped by 15,000 units from March. Compared to the same period in 2022, dealership sales remained relatively stable, although year-to-date numbers are still elevated over last year’s. The firm attributed the monthly decline to higher interest rates and recession worries, and warned it could take substantial time for the market to recover. Read More

Ford is recalling more than 310,000 trucks in the U.S. due to the driver’s front airbag, which may not inflate in a crash. 

Ford is set to recall more than 300,000 units to fix defective airbags after the discovery of a potential wiring issue. According to the National Highway Traffic Safety Administration, dust accumulation within the steering wheel can disconnect electrical components, preventing the airbag from deploying in the event of a crash. The automaker’s announcement covers 2016 versions of the F-250, F-350, F-450 and F-550 Super Duty pickups. Affected drivers may be unable to use their horns, and could hear clicking sounds from within the wheel assembly. Read More

For Dealers

There are a few approaches you can take to satisfy demanding customers without giving them what they are really asking for.4 common types of difficult customers and how to handle them
Some customers are harder to deal with than others. Whether they are loudly yelling out at you, are especially demanding, can’t decide on anything, or are rather critical of everything, there is always a little something you can do. We’ll explore a few of the customers you might encounter in the car sales business (and nearly any other line of sales!) and what you can do to move in the right direction. Read More

The best collaborative leadership style for a business will depend on its specific objectives and the needs of its employees.Stop commanding and start communicating: 6 benefits of collaborative leadership
The success of a business depends heavily on its people, including everyone from entry-level employees to those that are the top executives. Everyone plays a role, and therefore it makes sense that collaboration is required. In order for teamwork to be effective, leaders should stop commanding and start collaborating more through collaborative leadership. In general, collaborative leadership emphasizes teamwork, communication, and collective decision-making. Read More

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CBT News
CBT News
For over 11 years, CBT News has been informing and helping automotive retail professionals grow their businesses and thrive in their careers through an awarding-winning, on-demand streaming platform. With exclusive interviews featuring the biggest names in the industry, daily newscasts, up-to-date market data, and exclusive articles covering the latest trends, CBT News is your #1 source for auto industry news and content.

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