Today on CBTNews.com – Tuesday, July 23rd, 2019:
The 3 Things Consumers Want When Shopping for a Vehicle Online – Ben Ellencweig, McKinsey & Co.
Jim Fitzpatrick sits down with Ben Ellencweig, Partner at McKinsey & Co., on CBT News to talk about how dealerships must adapt to the growing online used-vehicle market. With consumers making a large number of their purchases online, from clothing to electronics and even food, dealerships place a lot of focus on new cars, but Ben says they wanted to focus on the used side, especially with 40 million used cars sold in the USA per year. Watch Now
From Then to Now: Everything You Need to Know about the CAFE Standards
In 1975, the United States took measures to improve the fuel economy of most vehicles by implementing the Corporate Average Fuel Economy (CAFE) standards. Congress recognized the need for regulations after the oil embargo of 1973 and therefore established these within the Energy Policy and Conservation Act of 1975. The standards have gradually risen with advancements in automotive technology, but in addition to increasingly prominent environmental concerns, the original purposes of relying less on foreign oil and having a more stable supply chain in the U.S. still stand. Read More
How Service Centers Can Prepare for Electric Vehicles
Automotive service centers have to stay on the cutting edge of automotive technology. An advancement the industry has been keeping an eye on in recent years is a trend toward electric cars. In 2018 alone, sales of electric cars rose by 81%, with 361,307 electric vehicle sales compared to 199,826 sold in 2017. If this trend continues, service centers will need to make big changes to accommodate the growing number of electric vehicles that will be on the road. Read More