Inside Automotive
Actionable steps to improve diversity within the dealership — Fernando Varela | Varela Group
National Hispanic Heritage Month is a time to celebrate diversity and reflect on the culture and contributions of the Hispanic community. Within retail automotive, Hispanic Americans make up 18% of U.S. new vehicle purchases, according to S&P Global, underscoring the need for better representation within the car business. On this episode of Inside Automotive, host Shyann Malone is joined by Fernando Varela, CEO and president of Varela Group and past chairman of the National Association of Minority Automobile Dealers (NAMAD). Watch the full segment here.
Top stories
Detroit automaker, Ford, is reducing its plans for a $3.5 billion battery facility in Michigan due to the slower-than-anticipated change in consumer preference toward electric vehicles, rising labor costs, and cost-cutting measures taken by the company. On November 21, Ford announced that it would reduce the number of jobs it expects to create from 2,500 to 1,700 and reduce its manufacturing capacity by roughly 43% to 20 gigawatt hours annually. Read More
The California-based startup Lucid has ventured into the lucrative and fiercely competitive SUV industry with its debut offering, the Gravity, built on the same platform as its Air sedan. Lucid claims that the SUV can have a range of 440 miles and reach 60 mph in less than 3.5 seconds. It is anticipated to go into production in late 2024 at a starting price of $80,000. Read More
The growing issue of food poverty that families nationwide encounter during the Thanksgiving holiday was addressed by The Salvation Army and the Toyota Lexus Minority Owners Dealership Association (TLMODA), as their collaboration was extended once again. On the Fourth Day of Service, more than 3,400 food boxes containing non-perishable supplies such as cereal boxes and canned goods were distributed at several participating Toyota dealerships nationwide. Read More
For Dealers
Using AI to drive more fixed ops revenue
The fixed ops department is the lifeblood of most dealerships. But this vital profit center continuously faces challenges from rising customer expectations, ever-changing vehicle technology, and competitive pressures. Exploring optimization strategies is a logical approach to maintaining and boosting revenue. Read More
Drive your dealership sales to new heights: The power of ongoing training
Talk with any sales manager, and they’ll say that a dealership sales success is built on the foundation of its sales department. And it’s tough to disagree with that. Often, the salesperson is the first voice of the dealership and will make or break anything that comes after that contact. Read More
