CBT automotive newscast: October 6, 2020

Today’s Featured Interview:

How to bring your best sales energy to the showroom floor – Jeff Shore
Sales teams can often be discouraged by the high volume of rejection from consumers. It can be overwhelming and create negative energy that can hurt every other sales opportunity. So, how can sales managers help their staff hone their skills and bring the best energy to the sales floor every time? We talked with Jeff Shore, expert sales trainer, keynote speaker, and author about how sales teams can transfer positive energy to car buyers. Watch the full segment here.

Top Headlines:

While many automakers are experiencing year-over-year declines from the third quarter, Ford Motor Company was still able to outpace its rivals. A day after FCA and GM both reported sales declines of 10%, Ford reported that third-quarter sales were only down 4.9% from 2019. According to Ford Vice President of sales marketing and service, Mark LaNeve, the company had its best third quarter of pickup sales since 2005 despite overall sales being down. Retail unit sales for Ford were down only 2%, and the F-Series finished the quarter strong with September sales up 17%.

Damian Lillard is getting into the car dealership game. The all-star guard for the Portland Trail Blazers has partnered with Brian Sanders to open Damian Lillard Toyota in McMinnville, Oregon. Lillard’s business looks to reinvent the car-buying experience. The dealership features amenities like a ping pong table, several pop-a-shot hoops, and black and red donuts representing the basketball player’s iconic jersey number. Lillard’s inspiration for the dealership came from his days as a kid, going to car dealerships with his parents, and being extremely bored. The new dealership is designed to be kid-friendly, welcoming to the community, and if you come in on the right day, you might just meet the NBA superstar.

Auto sales are looking to continue climbing back after the initial blow from the COVID-19 pandemic. According to a commentary released by Cox Automotive, total new vehicle deliveries were up 6.1% in September, year-over-year. Those volumes brought the September SAAR to 16.3 million, a 5% decrease from last year. While the September SAAR was down year-over-year, it was still an improvement from the August SAAR of 15.2 million. Chief Economist for Cox Automotive, Jonathan Smoke, said that while retail sales are better than August year-over-year, the market continues to be challenged by tight supply and high prices.

News Stories & Opinion:

Trail Blazer Damian Lillard opens dealership with a twist
Portland Trail Blazers star player Damian Lillard has a new venture to develop during the offseason. The highly-talented point guard has opened a new Toyota dealership franchise in McMinnville, a city of around 35,000 outside of Portland. The very visible Lillard opened the Toyota store with Brian Sanders, the founder of non-profit organization ‘A Working Family’s Christmas’ and automotive industry veteran of over 20 years. Formerly in sales, finance, and as General Manager at Dick Hannah Chrysler Dodge Jeep Ram and Dick Hannah Toyota, Sanders has the business acumen to make the foray into ownership with the basketball star a success. Read More

Trust Your Judgment
I started my career in the car business selling Oldsmobiles. Since then, I have managed used cars, reconditioning and sales — and I was also a wholesale dealer. I’d like to believe I know the business’s challenges. One challenge every dealer faces is making prudent decisions — often quickly. A valuable leadership quality that experience should teach is sound judgment. That comes from careful reasoning about a matter and evaluating what one learns through the shared advice and observations of trusted sources and colleagues. Read More