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AutoNation sends proposal to Pendragon, Biden joins UAW picket line, Cox forecasts strong Q3 performance

Inside Automotive 

How to ensure your dealership operations meet today’s demand – Chris Conroy | Holman
With a legacy that dates back decades, Holman, one of the largest privately owned dealership groups in the U.S., has consistently set the bar high in retail automotive. Today, we’re joined by Chris Conroy, the CEO of Holman, to discuss the state of their operations on today’s episode of Inside Automotive. Watch the full segment here.

Top stories

AutoNation has joined other top U.S. dealership groups in a bidding war for Pendragon, the U.K.'s second largest auto retailer.
Pictured: Pendragon CEO Bill Berman

AutoNation is now looking to purchase the U.K.-based Pendragon automotive group, offering the company $544 million on Tuesday. The move has kicked off a bidding war between the top U.S. dealership groups as the U.K.’s second-largest automotive retailer expands its presence in North America. AutoNation’s unprompted proposal comes days after Penske Automotive Group and Pendragon’s largest shareholder, Hedin Mobility Group, upped their joint buyout offer. Read More

President Biden joined United Auto Workers members in Detroit as they continued to strike against Big-Three automakers.
Pictured: U.S. President Joe Biden standing next to United Auto Workers President Shawn Fain, Image Source: Evan Vucci, Associated Press

President Biden visited a United Auto Workers picket line in Detroit on Tuesday, joining union members as the strike nears two full weeks. During the historical visit, Biden encouraged union members to “stick with it” and told attendees, “you deserve the significant raise you need.” Standing outside a General Motors-owned distribution center, the President was joined by United Auto Workers chief Shawn Fain, who thanked the White House for “coming to stand up with us in our generation-defining moment.” Read More

According to an estimate by Cox Automotive, the robust year-over-year sales recovery continued in the Q3According to an estimate by Cox Automotive, the robust year-over-year sales recovery continued in the third quarter. Despite rising interest rates on new-vehicle loans and a UAW strike against the major domestic manufacturers, September sales volumes are expected to exceed about 1.3 million, a more than 13% rise from 2022. Moreover, sales in Q3 are predicted to top 3.9 million, up more than 15% from the same period last year. Read More

brand loyaltyAccording to the J.D. Power 2023 U.S. Automotive Brand Loyalty Study, more consumers are opting to forgo brand loyalty as new car inventory and sales in the U.S. continue to return to pre-pandemic levels. Read More

For Dealers 

The motivations women may choose electric vehicles are varied but often revolve around environmental consciousness, cost savings, and technology adoption.Women owners of electric vehicles: tapping into a growing market
As electric vehicles (EVs) continue to gain popularity, it is crucial for automotive retail businesses to understand and cater to diverse consumer segments. In recent years, women have emerged as a significant force in the EV market. Today, we’ll explore some of the statistics on women owners of electric vehicles, sheds light on their motivations, and provides insights into effective marketing and sales strategies to engage and attract this growing demographic. Read More

Unravel local advertising trends: Detect dealership competition in your area, strategize your next move, and stay ahead in the market.In your backyard: what to do if competitive dealers are advertising in your area
Dealerships are competitive with one another, to say the least. Whether you are seeing more license plates from competitive dealers in your area or the ads are becoming obvious in your backyard, knowing that someone is trying to pull from your community can make you a little defensive. Here are some tips on detecting when a dealership is advertising in your city and what you can do about it.  Read More

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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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