Inside Automotive
John Bergstrom on EVs, OEM relations, building an outstanding company culture, and more
What do you get when you combine world-class company culture with 39 new car dealerships? Well, you end up with a remarkable dealer group that drives exceptional experiences for their customers and prioritizes philanthropic initiatives that extend far and wide. We’re, of course, talking about Bergstrom Automotive. On this edition of The Executive Profile, host Jim Fitzpatrick recently had the opportunity to spend the day with John Bergstrom, Chairman of Bergstrom Automotive, at their headquarters in Neenah, Wisconsin. Watch the full segment here.
Top stories
General Motors is now facing international labor strikes after failing to negotiate a tentative agreement with approximately 4,300 workers represented by the Canadian union Unifor. The Canadian autoworkers will join approximately 9,200 United Auto Workers members on strike at two GM assembly plants and 18 components and distribution facilities in the United States. Read More
After Tesla’s most recent price cuts, the EV maker’s best-selling EVs now directly compete with gasoline cars on price. At $38,990, the base Model 3 is $8,700 less expensive than the U.S. average for buying a vehicle. According to Bloomberg Green research, the starting price of a Model Y SUV is $3,700 less than the approximate $48,000 national average for new cars. Read More
BMW broke its previous electric vehicle sales record in the U.S. as overall sales rose 8% year-over-year during the third quarter. From July through September, the German automaker recorded total sales of 91,849 vehicles, including 7,900 units from its Mini lineup and 13,079 EVs. Electric vehicle sales rose by 202% from the prior year period, setting a new yearly and quarterly record. Since January, the brand has sold 254,363 units in the U.S., an increase of 10% from the same point in 2022. Read More
South Korean tech startup BOS Semiconductors has formed a partnership with U.S. artificial intelligence hardware company Tenstorrent to develop semiconductors for use in vehicles and vehicle manufacturing. The partnership will give BOS access to Tenstorrent’s AI Tensix core technology. According to the two companies’ press release, the goal of incorporating Tensix cores into BOS’s computer chips is to use artificial intelligence to accelerate the processing capabilities of automotive semiconductors. Read More
For Dealers
From online to in-store: creating a seamless dealership customer experience
Rapid digitalization during the pandemic has made a lasting impact on the way customers shop for vehicles. According to S&P Global Mobility’s latest Vehicle Buyer Journey Study, 65% of U.S. vehicle buyers now either shop online or partially online, with “Online Readiness” up by 17% in just two years. Most importantly, 61% of consumers said the availability of an online transaction option influenced their purchasing decision – even if only 25% opted to purchase entirely remotely outside of the showroom. Read More
Why creative problem solving is the secret ingredient to overcoming business challenges
One of the more pressing issues facing dealerships today is navigating the numerous challenges they face, including changing consumer behavior, new OEM agreements, rising competition, and technological disruption. So, it’s understandable that dealership owners and managers might be concerned about meeting these challenges. Read More
