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CBT automotive newscast: October 1, 2020

Today’s Featured Interview:

How the new Facebook automotive inventory ad options affect your dealership
When advertising on social media platforms like Facebook, automotive marketers must their strategies often, as these sites constantly evolve. In fact, last year Facebook launched its on-facebook automotive inventory ads which allow manufacturers and dealers to upload their entire catalog of vehicle inventory with relevant details. Recently, Facebook has expanded its automotive marketing features to drive inventory ads to a mobile-optimized shopping experience. So what does this mean for your dealership? To find out, we spoke to Facebook’s Head of Automotive Retail, Bob Lanham. Watch the full segment here.

Top Headlines:

Two women have come forward accusing Nikola founder and former chairman Trevor Milton of sexually assaulting them when they were underage. One of the alleged victims, Milton’s cousin, filed a formal complaint to police on Saturday in Holladay, Utah. A spokesman for Milton said he “strongly denies these false allegations.” No word yet on how this news will affect Nikola’s partnership with General Motors, however, the Detroit-automaker has delayed the 10-year deal that was set to close on Wednesday.

The first of three presidential debates aired Tuesday night with President Donald Trump and former Vice President Joe Biden sparring in what some are calling the worst presidential debate in history. Both candidates had a lot to say about Michigan automakers with Biden taking aim at Trump for the losses automakers have suffered during his presidency. While Trump refuted saying, “Michigan has the best year they’ve ever had.”

Former Audi CEO Rupert Stadler finally sees his day in German court over Dieselgate fraud charges. As reported by Forbes, Stadler is the first senior executive to stand trial in the emissions cheating scandal. He will appear alongside other Volkswagen group members including Wolfgang Hatz, former head of development for Audi and Porsche.

A key witness in the case against former Nissan executive Greg Kelly testified on Tuesday, that he worked with Kelly on finding ways to pay ex-CEO Carlos chosen without disclosing the full extent of his compensation. On the stand, former HR executive Toshiaki Ohnuma stated, “We worked together to consider how to avoid disclosure of the unpaid compensation.” Kelly has been charged with failure to disclose Ghosn’s compensation by $88 million, as reported by the Associated Press.

News Stories & Opinion:

customerReport shows that 86% of brands aren’t benefiting by tracking CX
According to InMoment, top brands are wasting billions on customer experience programs that are failing. In 2019, data strategy and insights leaders at Forrester Research determined that 86% of brands haven’t seen return on their investment into CX. Nearly all spending for customer experience has been in monitoring and tracking. Key performance indicators such as survey scores and touch points at important intervals in a customer’s shopping journey have been the focus. And in Forrester Research’s estimation in the 2020 US Customer Experience index report, no businesses achieved the rank of ‘excellent’ in 2020 when compared to their benchmark. Read More

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CBT News
For over 11 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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