Inside Automotive
Dealership valuation trends: Has it become more difficult to sell? — Alan Haig | Haig Partners
Dealership valuations have become challenging to decipher in the post-COVID economy. On this episode of Inside Automotive, CBT News anchor Jim Fitzpatrick is joined by Alan Haig, president and founder of Haig Partners, to discuss the current trends influencing the dealer mergers and acquisitions market. Watch the full segment here
Top stories
General Motors has confirmed the release of an all-electric version of its flagship Cadillac Escalade later this year. The Detroit automaker said the new SUV would be called the “Escalade IQ,” which continues the brand’s EV naming strategy. The brand currently includes the Lyriq crossover and the upcoming Celestiq ultra-luxury sedan. Read More
Ahead of the company’s capital markets day, Ford revealed multiple agreements with lithium suppliers which it says will allow for a massive increase in electric vehicle production. Five partners were named in the announcement, each of whom agreed to massive amounts of lithium hydroxide and lithium carbonate over the next decade, two minerals essential to the production of EV batteries. Read More
In Dallas, Texas, a used car dealership gave away a 2016 Jeep Patriot to a high school sophomore with perfect attendance. Faith Family Academy, a charter school, teamed up with the local used car dealership, Drive Casa, for several years. The partnership has created a competition where students with perfect attendance get added to a randomly selected drawing, and the winner receives a vehicle. Read More
New research from professional services provider KPMG has shed more light on the relationship between electric vehicle hesitancy and the market’s limited ability to address consumer needs. According to the company’s pulse summer survey, roughly 50% of U.S. car buyers are interested in purchasing an EV. Read More
For Dealers
How to build a culture of accountability in your dealership
Building a culture of accountability in any business is not easy, but it is critical for the success of teams, including those within dealerships. Without accountability, productivity is reduced, and the blame for any mishaps gets shifted, often unfairly. Improving accountability in your dealership can take time, but it can also improve your business operations and the work quality of your staff. Read More
Attracting first-time car buyers: How to understand the needs of younger customers
First-time car buyers, particularly millennials, are becoming an increasingly influential demographic in the auto retail industry. Previously, experts underestimated the interest of this generation in vehicle ownership. However, they have proven to be a pivotal market segment, prompting a novel approach to sales, marketing, and customer service in dealerships. Read More
