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Nick Saban’s Dream Motor acquires two FL dealerships, Used vehicle prices change course, Polestar cuts guidance

Inside Automotive 

Patrick Manzi joins Inside Automotive to discuss the latest trends influencing the retail automotive sector as it prepare for Q4 and beyond.The most important retail automotive trends to monitor for 2024 — Patrick Manzi | NADA
On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Patrick Manzi, chief economist at the National Automobile Dealers Association (NADA). Manzi applies his academic skillsets to the car business by carefully studying trends and analyzing data points. His work at the NADA has produced crucial insights into the factors driving retail automotive excellence and the challenges that lie in wait for dealers. Now, he shares his insights into the last few months of business and his forecasts for the coming year. Watch the full segment here

Top stories

According to Automotive News, Dream Motor Group has expanded into South Florida by acquiring two Mercedez-Benz dealerships
Mercedes-Benz of Baton Rouge | Nick Saban

According to Automotive News, Dream Motor Group has expanded into South Florida by acquiring two Mercedes-Benz dealerships in a deal worth roughly $700 million. Dream Motor Group is owned by University of Alabama football coach Nick Saban and former Merecdes-benz CEO Steve Connon and CEO Joe Agresti. Dream Motors entered the Florida market on July 31 by purchasing a collision center, a Mercedes-Benz of Cutler Bay, and a Mercedes-Benz of Coral Gables from Bill Ussery Motors. Read More

Wholesale used vehicle prices declined in October as the United Auto Workers strike failed to have a positive impact on the preowned segment.

Wholesale used vehicle prices declined slightly in October as the market continued to fluctuate in response to the post-pandemic economy. According to Cox Automotive’s monthly report, wholesale used vehicle prices dropped 2.3% from September and 4% from October 2022. Values, while still heavily inflated from pre-COVID norms, have varied somewhat in the preowned segment since the start of the year but have typically trended back to normal levels. Read More

Polestar lowered its long-standing delivery goal for 2025 and revealed that, it will still need to raise capital to break even.
Polestar 1

On November 8, Swedish EV maker Polestar lowered its long-standing delivery goal for 2025 and revealed that, despite cost reductions, it will still need to raise capital to break even. The company also dropped its current-year guidance for 2023 by revising its delivery forecast to “Approximately 60,000” vehicles, which is at the lower half of its prior projection range. Read More

For Dealers 

There are multiple ways you can amp up your savings and investments while sales, commission checks, and pay plans continue to fluctuate. How car salespeople can save and invest consistently when making a living on commission
The challenge of committing and remaining consistent with investment savings aside from your 401k when your money is dominated by commission-based income. A difficult challenge to overcome? Yes. But far from impossible. After all, you wouldn’t let a little negative equity or a fresh ding from the detail team ruin your car deal, would you? Neither would we. Read More

By prioritizing authenticity, creating engaging content, and inte­racting with their audience, de­alerships can create a powerful social media strategy.Social media savvy: building an engaging online presence for your dealership
In today’s digital age, it is impe­rative for businesses, including car de­alerships, to have a strong online presence. Social media platforms offer a unique chance to engage with customers, build brand loyalty, and increase sale­s. This article examines effective strategies and valuable insights that can assist your dealership in creating an authentic and captivating digital identity. Read More

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Jaelyn Campbell
Jaelyn Campbell
Jaelyn Campbell is a staff writer/reporter for CBT News. She is a recent honors cum laude graduate with a BFA in Mass Media from Valdosta State University. Jaelyn is an enthusiastic creator with more than four years of experience in corporate communications, editing, broadcasting, and writing. Her articles in The Spectator, her hometown newspaper, changed how people perceive virtual reality. She connects her readers to the facts while providing them a voice to understand the challenges of being an entrepreneur in the digital world.

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