Inside Automotive
Where dealership groups stand heading into Q4 — Jeff Dyke | Sonic Automotive
On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Sonic Automotive President Jeff Dyke. Dyke has spent more than two decades in the retail automotive sector, with a proven track record of leading businesses to success. Since becoming the dealership group’s president in 2018, he has helped the company navigate monumental challenges such as the COVID pandemic and an industry-wide shift to electric vehicles. Now, he discusses the business’s third-quarter report and what it means for retailers across the U.S. Watch the full segment here
Top stories
Consumer behavior trends seemed to contradict narratives set by automotive industry leaders throughout October, according to a new intelligence report by CarGurus. October presented challenges and even setbacks for many automakers, some of whom saw a sudden, if relatively small, decline in sales after a relatively strong year. Aside from unexpected in consumer behavior, multiple events contributed to the month’s complexity, not the least of which was the United Auto Workers strike. Read More
EV manufacturer, Rivian reported its third-quarter results beat Wall Street expectations and offered an improved outlook, which includes an increase in its annual production target by 2,000 vehicles to 54,000 units. The company’s third-quarter net loss of $1.37 billion marked a 20% drop from the $1.72 billion in losses recorded during the same period last year. Read More
On November 9, President Joe Biden will meet with the head of the United Auto Workers union, Shawn Fain, in Belvidere, Illinois, where the two are scheduled to discuss plans to reopen a factory that Stellantis once intended to close. The president and Fain will have the chance to officially present the tentative contract agreements following the end of a nearly 45-day union strike that targeted Ford, General Motors, and Stellantis. Read More
For Dealers
Rethinking dealership design for electric vehicles
The automobile industry is attempting a seismic shift. OEMs, at the direction of the government, are not only wanting to change the way we drive but also how we purchase and maintain our vehicles. For dealerships, with the help of OEMs, this means more than just updating inventory—it’s about reimagining the entire showroom experience. Let’s dive into how dealerships can redesign their spaces to cater to the new era of electric vehicles (EVs) and meet consumer expectations. Read More
Recall work: your service departments chance to impress
Automotive recalls in the U.S. rose 3.4% in the first quarter of 2023, up from 237 in Q4 2022 to 245 events in Q1. According to Sedgwick brand protection’s latest recall index report, the number of units impacted also increased slightly to 7.6 million. While car owners don’t tend to be a big fan of recall notices, they actually provide service managers and techs the opportunity to show what the department can do, especially for customers who don’t come in often. We’ll discuss how to approach service recalls and how to make them productive for the customer and our team. Read More
