Tuesday, October 19, 2021
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Auto industry leaders ruffle feathers with recent tweets

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Elon Musk hasn’t particularly cared about tradition and has often upset those who have enjoyed the control they had on their business environment. Recently, MSNBC wrote, “Elon Musk’s tweets are moving markets — and some investors are worried.” The truth is, even the media are concerned because, unlike decades ago, they aren’t the only funnel of information […]
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rental

Rental companies are snatching up pre-owned cars amid supply challenges

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As the coronavirus pandemic drags on, the auto industry continues to be impacted in many ways. There is no doubt manufacturers and dealers have faced many hurdles over the past year, which includes innumerable problems on supply chains. J.D. Power’s Tyson Jominy stated that “every day, there is practically a new supply challenge,” which has […]
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remote

How remote work is affecting pay structures and staffing nationwide

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Prior to the pandemic economy shutdowns, less than 10% of Americans in the workforce were full-time remote workers. Virtually none of the auto retail positions were performed from home. But in the US, nearly half of workers transitioned to work from home (WFH) and a good portion will likely continue that way of a hybrid […]
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TrueCar

TrueCar predicts 16 million new car sales in 2021

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Headed into another year of uncertainty, TrueCar is forecasting a healthy increase over 2020’s suppressed auto sales performance, expecting new light vehicle sales in 2021 to reach 16 million units. That figure represents an overall increase of 10% industry-wide, with retail sales calculated at a 9.6% boost over last year’s results.  The positive forecast may come as […]
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industry

‘Tis the season of giving back – How can cause...

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This Thanksgiving, I reflected on all the things for which I’m thankful, as well as the people: family, friends, and the wonderful automotive professionals I’ve met over the years. This industry is filled with some of the most genuine, caring folks around. While this time of year is known as the season for giving, so many […]
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Biden

Trump vs. Biden on the future of the American automotive...

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The current 2020 presidential candidates diverge on many issues, and the US auto industry is no exception. For undecided voters, it can be challenging to sort out who takes which position. Here are some points to consider as we head into the final days of the election. Tradition vs. Innovation While both Trump and Biden […]
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oil

ExxonMobil chairman provides updates and future of oil industry

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On Wednesday, ExxonMobil Chairman and CEO Darren Woods held an employee forum to discuss the oil and gas industry’s position and the outlook for the future. A statement was released that summed up his comments to ExxonMobil staff that delved into the pain points experienced by the company as well as a forecast that maintains […]
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retail

Auto industry recovering well amidst retail slump

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Most industries have taken a devastating hit because of the coronavirus pandemic, with some recovering at a faster pace than others. The auto industry was greatly impacted according to a July McKinsey report, which noted that car sales had tanked worldwide including a 47% drop in the U.S. and drops of 71% and 80% in China […]
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Biden

Trump vs. Biden: What Are their Plans for the Auto...

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The American election is coming on November 3rd, just ten weeks away, and polls are very close between the Trump-Biden camps, according to CNN’s tracking data. Without a doubt, the auto industry can expect very different effects depending on who earns the public’s trust and occupies the Oval Office for the next four-year term. CBT […]
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stimulus

Lobbying Efforts Pivot Towards Buying Stimulus

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As the United States slowly begin to emerge from a never-before-seen pandemic shutdown, the auto industry has weathered the storm better than expected. While nowhere near pre-pandemic forecasts, the real figures are tickling the 50-percent decline rather than 70 or 80 percent. Still, as a sector that relies on a chain stretching from resource procurement […]
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