Inside Automotive
Transform your dealership’s success with these key sales strategies – Jen Suzuki | eDealer Solutions
As the retail automotive industry evolves, dealerships recognize the importance of personalized shopping experiences and sales strategies. On today’s episode of CBT Now, we’re joined by Jennifer Suzuki, acclaimed sales trainer and the President of eDealer Solutions, to share some of her essential sales strategies. Watch full segment here.
Top Stories
In the third quarter, Q3, of 2023, the Cox Automotive Dealer Confidence Index (CADSI) revealed that dealer confidence in the U.S. remained largely stable despite high interest rates and economic concerns significantly impacting the car market. The Q3 2023 CADSI is based on responses from 983 U.S. auto dealer respondents, including 429 independents and 554 franchised dealers. The survey conducted from July 24 through August 8, 2023, weighs dealer responses and considers the kind of dealership and the number of sales to accurately reflect the national dealer population. Read More
The United Auto Workers union received a counteroffer from General Motors, which included a proposed 16% wage increase for the top earners in its facilities and a 56% pay increase for new workers who make less. Shawn Fain, president of the UAW, promptly responded and called the proposal “insulting.” The wage increase is marginally more than what Ford, a competing company, promised the union but remains far less than the 46% pay increase that would arise from the UAW’s initial offer. Read More
Asbury Automotive Group has agreed to purchase Jim Koons Automotive Companies, marking the first dealership group merger of this size since 2021. According to a press release, the transaction will integrate 20 storefronts representing 29 different car brands into the Asbury Automotive network, alongside six additional service centers. During its 50 years of business, the Jim Koons dealership group has operated locations across Virginia, Delaware and Maryland, including one of the busiest Toyota and Stellantis stores in the country. Read More
The U.S. Treasury Department has announced upcoming revisions to its electric vehicle tax credit guidelines that will add new ways for dealers to collect payments from car buyers. The news was revealed during a press briefing on September 8, where the Treasury also noted it would be launching additional tax incentives before the year’s end to support the Biden Administration’s clean energy focus. Read More
For Dealers
August U.S. vehicle sales: signs of a market slowdown?
August, traditionally a significant month for car sales, has offered the auto industry a mixed bag of data. While there’s notable year-over-year growth of 17%, there are signs that the industry should approach with caution. S&P Global Mobility reported that new light vehicle sales for August 2023 were expected to increase by a significant 18% from last year, so the reality of 17% wasn’t that far off projections. Read More
How to adapt your dealership to navigate the service-to-sales evolution
The service department has always proven to be a major driver of profitability for dealers of every size. Even so, current market dynamics are increasingly emphasizing both the short and long-term value of the drive. According to S&P Global Mobility, the average age of cars and light trucks in the U.S. reached an unprecedented 12.5 years in 2023, increasing by more than three months as compared to 2022. Read More
