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GM’s Q3 results, used car and EV affordability report, Hudson Auto Group acquires Vic Bailey stores

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General Motors finished Q3 ahead of expectations despite revising its guidance, earning a swift response from the United Auto Workers union.
Pictured: General Motors CEO Marry Barra

General Motors on Tuesday included a revised profit forecast for 2023 in its third-quarter earnings report, published hours before the United Auto Workers union announced a new strike against the company’s Texas SUV plant. Although analysts had worried the United Auto Workers strike would impact its bottom line, General Motors finished the third quarter ahead of projections. Read More

Over the past 11 months, used and electric vehicle affordability improved following years of sharp price increases, according to iSeeCars.comOver the past 11 months, used and electric vehicle affordability improved following years of sharp price increases, according to While used vehicle costs declined by 5.4% and household income climbed by 3.7% since October 2022, there has been a significant increase in interest rates. Read More

Hudson Automotive Group has signed an agreement to purchase five storefronts from Vic Bailey Automotive of Spartanburg.
Image Source: Vic Bailey Automotive

Hudson Automotive Group is set to acquire South Carolina dealership group Vic Bailey Automotive. According to a Monday press release, the two businesses have already signed an agreement, with a purchase date set in early December. The transaction includes Vic Bailey Automotive’s five dealerships and one service center. Vic Bailey Automotive has been in business for over 54 years and has achieved substantial success within South Carolina. Read More

Toranto-based Li-Cycle dropped almost 50% following the company pausing to build a first-of-its-kind lithium-ion battery recycling plant. The share price of Toronto-based Li-Cycle Holdings Corp., which is expected to receive support from the Biden administration, dropped almost 50% when the company said it would pause building a first-of-its-kind lithium-ion battery recycling plant. Read More

For Dealers 

Data mining allows dealers to identify opportunities for upselling and cross-selling, creating more personalized customer experiences.Uncover hidden opportunities: Elevate your car sales strategy with data mining
Auto dealers can strategically employ data mining techniques to enhance their sales, service, and retention efforts. By analyzing customer interests and retention efforts, purchase histories, and demographic trends, dealerships can tailor their marketing campaigns and inventory offerings to match customer demands precisely. Read More

Generative AI has the potential to revolutionize marketing, streamlining the traditionally labor-intensive and speculative process.Where does generative AI fit into dealership operations?
Artificial Intelligence (AI) has been revolutionizing different industries, and the dealership sector is not immune to its impact. Generative AI, a specific type of AI, focuses on generating new data that closely resembles a given dataset. In the context of dealerships, this translates into personalized customer experiences, optimized marketing strategies, and improved website content. This article explores the transformational possibilities of generative AI in enhancing dealership operations.
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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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