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Ford submits UAW offer, Q3 sales improve, Lithia sweetens Pendragon bid

Inside Automotive

Marco Schnabl joins Inside Automotive to discuss the importance of a well-trained dealership team and the need for quality education programs.Training your dealership team for long-term success — Marco Schnabl | RockED
A well-trained and educated dealership team is key to long-term success in the car business. Unfortunately, not only do such teams require immense effort to find, but managers also struggle to keep their employees informed on the latest practices, policies and technologies impacting the retail automotive sector. On this episode of Inside Automotive, hosts Shyann Malone and Jim Fitzpatrick are joined by Marco Schnabl, founder and executive chairman of RockED. Watch full segment here.

Top Stories

Ford included additional pay increases and concessions in its latest contract proposal to the striking United Auto Workers union.The United Auto Workers union received a new contract proposal from Ford on Tuesday, containing a larger wage hike than the automaker’s previous submission. Employee pay has been a key point of conflict in the ongoing negotiations between the UAW and Detroit-Three automakers. The union is currently seeking a minimum 30% wage hike over the life of the next contract after lowering its initial target from 46% in the latter half of September. Read More

Car sales held steady in September, allowing third-quarter volumes to improve across import and domestic automotive brands.Car sales held steady in September, boosting third-quarter volumes at major domestic and import automakers in the U.S. Japanese automakers saw solid year-over-year improvements in the U.S., especially at Honda. The brand sold 115,00 vehicles in September, driving a total Q3 volume of 339,143. These represent increases of 45.5% and 52.7% from the previous year’s numbers, although car sales declined by 7,882 units from the second quarter. Read More

Austin-based EV maker Tesla introduced a cheaper new version of its popular Model Y SUV just in time to address the global slowup of EV sales.

In order to combat the global slowdown in electric vehicle sales, Austin-based EV manufacturer Tesla unveiled a new, less expensive version of its well-liked Model Y SUV in the U.S. The Model Y RWD (rear-wheel drive) model, an SUV variant with a single motor powering its rear axle, is currently available on Tesla’s U.S. website. Tesla predicts that the Model Y RWD will cost $43,990 and have a range of 260 miles. Read More

Lithia increased its offer to acquire rival Pendragon's UK auto and leasing company amid a three-way bidding war between AutoNation and Hedin.

The price of Lithia’s offer to acquire rival Pendragon’s UK auto and leasing company has increased. It comes amid a three-way bidding war between AutoNation in the United States and Hedin in Sweden, which already has a 28% share in Pendragon. However, Pendragon reported last month that it had agreed to sell the UK dealership division for a little over 280 million dollars to Lithia. Read More

For Dealers

An inclusive workforce, composed of individuals from diverse backgrounds, brings a wide range of perspectives to the table.The value of an inclusive workforce in the automotive industry
In today’s competitive automotive industry, businesses are constantly seeking ways to stay ahead of the curve and maximize their profits. While technological advancements and innovative marketing strategies are crucial, there is another key element that often goes overlooked but can significantly impact a company’s bottom line: an inclusive workforce. In this article, we will explore why an inclusive workforce adds value and leads to higher profits for automotive business owners, including car dealers, service centers, tire dealers, and quick lubes. Read More

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? Read More

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For over 10 years, CBT News has been informing and helping automotive retail professionals grow their businesses and thrive in their careers through an awarding-winning, on-demand streaming platform. With exclusive interviews featuring the biggest names in the industry, daily newscasts, up-to-date market data, and exclusive articles covering the latest trends, CBT News is your #1 source for auto industry news and content.

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