How dealers can better manage their new and used car business today — Brian Finkelmeyer
Today on Inside Automotive, we’re joined in the studio by Brian Finkelmeyer, Senior Director of New Vehicle Solutions at Cox Automotive, to discuss the latest trends for the new and used car markets. Watch the complete segment here.
General Motors has temporarily paused paid advertising on Twitter after Tesla CEO Elon Musk assumed ownership of the company this past Friday. In an emailed statement, GM said it was “engaging with Twitter to understand the direction of the platform under their new ownership.” And called the decision a “normal course of business” when there is a significant change in a media platform. The email did say the company would continue its customer care interactions on Twitter. Most automakers currently have a presence on the social media platform, although not all of them utilize paid advertising. Read More
EV maker Nikola announced it is working with KeyState Natural Gas Synthesis to create Pennsylvania’s first low-carbon hydrogen production supply. Nikola also said it was working on securing a definitive agreement with the hydrogen producer to expand the supply for Nikola’s fuel-cell electric vehicles. Nikola, which is building a hydrogen fuel cell electric semi-truck, said KeyState plans to supply the company with up to 100 tonnes per day of low-carbon hydrogen, enough to supply fuel for up to 2,500 Nikola FCEVs. The KeyState site is over 7,000 acres and should be operational by 2026. Read More
Mopar, the aftersales brand of Jeep maker Stellantis, will be attending the Specialty Equipment Market Association show this week in Las Vegas to show three new concept vehicles, including the Jeep CJ Surge electromod concept, which in theory, could convert classic or newer vehicles into EVs. Currently, electromods can cost tens of thousands of dollars, with most of the costs related to battery packs. Read More
Kia is updating the Telluride, its popular three-row SUV model. The 2023 Telluride has a list of new features, including multiple trim levels, upgraded capabilities, and driver assist features. Starting prices for the Telluride jumped about $2,000 across the line for the 2023 model, and its two new off-road variations, the X-Line and X-Pro, are available in all-wheel drive only. The 2023 Telluride is available in dealerships now. Read More
News & Opinion
5 reasons why giving back to your community can boost your bottom line
Business and profit go hand in hand – that’s the whole point. But another thing that successful dealerships have available due to financial success is the ability to give back. Charity work and community engagement are great ways to boost morale within a dealership and build a positive reputation with buyers. Need statistical proof? It’s out there. A survey conducted by CarGurus found that 45% of shoppers were somewhat or very likely to switch to a brand that provides a similar price and quality if that brand supports a good cause. Read More
4 ways car dealers can win against aftermarket service providers
According to the J.D. Power 2022 U.S. Aftermarket Service Index Study, customers increasingly prefer aftermarket service providers to new-vehicle dealers. J.D. Power surveyed almost 10,000 vehicle owners who owned their cars between four and ten years. The data showed that aftermarket service providers capture 70% of the service market, while franchised dealers only acquired 30%.While it seems like vehicle owners prefer to take their service needs to independent servicers; fortunately, franchised dealers can do some things to close that gap — particularly in offering convenience. Here are some takeaways from this study and a few things your dealership can do to attract more consumers for service appointments. Read More
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