Today on CBTNews.com – Thursday, May 9th, 2019:
April Car Sales: As New Vehicle Prices Rise, Consumers Continue to Trend Toward Used Vehicles, But For How Long? – Karl Brauer, KBB
While U.S. auto sales softened this past April, many customers continued to flock to used car lots due to vehicle affordability issues. However, this uptick in used-car sales might not last for much longer. Here to discuss April’s winners, losers, and more of what dealers can expect in the coming months, is Karl Brauer, executive publisher for AutoTrader and Kelley Blue Book. Watch Now
Trump Threatens 25% Hike on Tariffs for China
Just two months after deciding to hold off on implementing tariffs on China, the Trump administration has announced plans to place them on $200 billion worth of Chinese goods, including cars and auto parts. For now, Japan and the European Union are immune from auto tariffs while negotiations are being made; however, the existing tariffs on China might get raised exponentially in a few days. In regard to currently-imposed tariffs, President Trump tweeted on May 5th that “these payments are partially responsible for our great economic results.” Read More
Making Mentorship Programs that Pay Off
A mentorship program is a valuable tool for dealerships. While training gives a new hire your standards and practices, mentoring imparts nuance. Mentors deliver the more subtle aspects of your dealership culture and can cover training material with more detail and personalization than regular training programs can. That said, many dealerships see mentoring as simply pairing veteran staff with new employees. While that paradigm might occasionally have success, it underutilizes the potential of mentoring. Read More
