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Ford reissues 2023 guidance, reveals $8.8 billion cost of labor deal

In its latest financial update, Ford Motor Company has reissued its 2023 guidance, a month after withdrawing it due to the ongoing labor strikes and negotiations with the United Auto Workers (UAW) union. The revised forecast addresses the $1.7 billion in lost profits from the strike, which Ford estimates will result in approximately 100,000 fewer wholesale vehicles. According to the new guidance, Ford anticipates adjusted earnings before interest and taxes (EBIT) in the range of $10 billion to $10.5 billion, along with adjusted free cash flow between $5 billion and $5.5 billion. However, the company also acknowledges that the new UAW...

Hyundai, Kia reveal ‘Uni Wheel’ drive system to revolutionize electric vehicles

During the "Uni Wheel Tech Day" in Seoul, Korea, the Hyundai Motor Company and Kia Corporation presented their new Universal Wheel Drive System, or...

Chevrolet reveals upgraded 2025 Tahoe and Suburban SUVs

The industry's best-selling large sport utility vehicles (SUVs), the Chevrolet Tahoe and Suburban, will debut with new exterior and interior designs late next year....

UAW launches ambitious campaign to unionize non-Detroit automakers

The United Auto Workers (UAW) union has announced a bold initiative to organize 13 non-union automakers operating in the United States. This announcement comes...
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Nov. U.S. auto sales expected to soar: new-vehicle sales up 10.2% year-over-year

According to a joint forecast from J.D. Power and GlobalData, the automotive retail industry is witnessing a significant upswing in November, with total new-vehicle...

7 tips for enhancing your dealership’s online vehicle merchandising strategy

In today's fast-paced digital age­, having a robust strategy for showcasing your dealership’s vehicles online­ is not just a passing trend – it's absolutely...

Dealers warm up to digital retailing but obstacles persist

The adoption of digital retailing tools among dealers has expanded in 2023, with the percentage of storefronts offering a fully online car-buying experience increasing...

Drive your dealership sales to new heights: The power of ongoing training

Talk with any sales manager, and they'll say that a dealership sales success is built on the foundation of its sales department. And it's...

Conquering your self-doubt: how to get out of your own way

Running a successful auto dealership requires a mix of business acumen, passion, and dedication. Despite having these traits, self-doubt can still creep in and...

4 growth strategies to expand your auto dealership

If your dealership has been firing on all cylinders and the bottom line is healthy, it's only natural to think about expansion. Yet, knowing...

Actionable steps to improve diversity within the dealership — Fernando Varela | Varela Group

National Hispanic Heritage Month is a time to celebrate diversity and reflect on the culture and contributions of the Hispanic community. Within retail automotive,...

How this Texas dealership is revolutionizing the sector – Evelyn Sames | Sames Auto Group

Texas’s oldest dealership, and one of the oldest in the nation, belongs to the family-owned Sames Auto Group. Since its start in 1910, the...

How the Texas car market continues to surprise dealers — Julie Herrera | Toyota of Cedar Park

Located in one of the largest car markets in the U.S., Toyota of Cedar Park has achieved incredible success in Texas, navigating a pandemic,...

Key strategies to prepare for the 2024 used car market — David Simches | Crown Automotive Group

Used car dealers have faced numerous challenges over the last three years as they have navigated a fluctuating industry landscape and considerable economic headwinds...

Used car supply remains stable in November, pricing weakens

Used car supply remains under pressure in November, as high new vehicle prices force many consumers to wait on their next purchase. According to Cox...

Discover the best and worst vehicles that hold their value

In order to calculate five-year depreciation rates, iSeeCars examined more than 1.1 million vehicles sold between November 2022 and October 2023. This data's historical...

Using AI to drive more fixed ops revenue

The fixed ops department is the lifeblood of most dealerships. But this vital profit center continuously faces challenges from rising customer expectations, ever-changing vehicle...

Service center revenue, demand remain strong throughout October

Dealers continued to see demand and profit in the service center throughout October, with revenues and work volumes remaining strong despite industry-wide instabilities stemming...

4 tips for car dealers when onboarding new auto technicians

During a WrenchWay Roundtable broadcast, a statistic was shared showing that 42% of today’s auto technicians leave the workplace during the first two years....

Public relations for dealerships: when silence isn’t golden

Public relations (PR) is a crucial yet often underestimated and unused tool for automotive dealerships. PR is an integral element of any dealership’s strategy,...

The power and necessity of owning your advertising accounts

Marketing managers, general managers, and advertising or marketing agencies might not agree on this one: You should create your own ads account whenever you...

Cox Automotive reveals streamlined portfolio for effortless dealership management — Ken Kraft

Cox Automotive plays a critical role in maintaining the complex network of dealers, manufacturers, and vendors that comprise the modern automotive industry. Not only...

California’s new franchise law: what dealers need to know – Brian Maas | CNCDA

In early October, the California New Car Dealers Association’s (CNCDA) 2023 Franchise Bill (AB 473) was signed into law, strengthening dealership rights in the...

Dealers gather to celebrate the inaugural FADA Hall of Fame inductees

In an inaugural event, the Florida Automobile Dealers Association (FADA) on November 2 inducted 15 legendary automotive retailers into its Hall of Fame, recognizing...

How the CFADA is paving the way for EV adoption – Evelyn Cardenas | Pres. & CEO

As EVs become more prevalent on the roadways, it's essential for dealerships to understand the opportunities associated with maintenance. Evelyn Cardenas, President and CEO...

The role of leasing in a normalizing car market — Aaron Bickart | OfferLogix

With signs of pre-pandemic norms returning to the market, car dealers are beginning to consider alternative strategies, such as leasing, to maintain their profit...

How to combat inflation, boost sales and enhance F&I performance

Obstacles such as rapid inflation, high interest rates and constrained supply continue to challenge both dealers and car buyers, even as the car business...

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...

The role of real estate in the dealership buy-sell transaction — Sheldon Sandler | Bel Air Partners

When it comes to selling their business, many dealers overlook a critical component of the transaction: real estate. With mergers-and-acquisitions activity still lagging behind...

What falling dealership values mean for the future of M&A

Dealership values remain higher than before the pandemic but have started to decline in the latter half of 2023. This has led some to...

Nick Saban’s Dream Motor makes $700 million move to Florida

Dream Motor Group has expanded into South Florida by acquiring two Mercedes-Benz dealerships in a deal worth roughly $700 million.  Dream Motor Group is owned...

Tips to help spot identity and income verification fraud

With the gloomy economic forecasts that are flooding every media outlet daily, criminals are finding an easier environment to be able to pull off...

Online reviews can’t be ignored – tips to get more (and better) reviews for F&I

We all rely on ‘social proof’ to help us know where to spend our hard-earned dollars. Name one business or product you have considered...

Synergizing sales and F&I: unlocking efficient communication for faster car sales

The automobile­ industry has undergone remarkable­ changes, and the deale­rships that have embraced the­m have thrived while those­ that didn't were left be­hind. However,...

6 career options to explore if you’re thinking about joining the auto industry

Are you thinking of trying a new career path? The auto industry may be a perfect fit for you! The auto industry is not...

How your dealership can find stellar automotive technicians

Hiring technicians today is more than putting bodies in service bays. These team members have to have the right skill set, possess a strong...

What to look for when hiring a social media manager for your dealership

A social media manager is likely one of the most crucial individuals you'll hire for your dealership marketing team. Over the past decade, their...

Why customer experience is your dealership’s ultimate marketing tool

In the dim glow of a local dealership, Sarah drove off the lot with her brand-new sedan. Instead of feeling like just another sale,...

Mastering customer retention: How to personalize connections at your dealership

Your sales team is knocking it out of the park! Customers are coming in, and the sales team is meeting them where they are...

AI-powered customer service: elevating dealership experiences

We are certain you’ve heard many stories about artificial intelligence in the last year. Artificial intelligence can be an effective tool for marketing, writing,...

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