Today’s Featured Interview:
When Volvo launched its “Care by Volvo” subscription plan, Californian dealers were concerned about the automaker bypassing franchisees to sell directly to consumers. Brian Maas, president of the California New Car Dealers Association (CNCDA) took action on behalf of the state’s dealers. Brian took some to talk with us about the association’s most recent win. Watch the full-length interview here.
Top Headlines:
In the midst of car sales losing momentum in the U.S., Mercedes-Benz is planning to cut seven car models to simplify their U.S. lineup. According to sources, the S, C, and E-Class convertible and coupe models are all being considered for the cut. The company is also considering cutting production of the CLS Coupe and one of the GT models.
Statistics during the pandemic reveal new buying trends towards online car shopping. According to data collected by Cars.com, only 54 percent of dealers offered digital retailing tools prior to COVID-19. That number has certainly grown as the consumer experience has evolved. Cars.com also found that 71 percent of shoppers expressed interest in completing some, if not all car purchasing online.
While COVID-19 has certainly created a higher interest in digital interaction, it has also pushed people to the great outdoors. Recreational vehicle sales are taking off as demand has spiked during the spring and summer of 2020. Individuals see higher risk in traveling by plane and they are less interested in lodging options like hotels or condos.
News Stories & Opinion:
On July 27th, Congress was set to hear from eight senators who are pitching the details of a new economic stimulus package for the United States. Led by Senate Leader Mitch McConnell, the Republicans aim to present financial aid that would tally up to around $1 trillion dollars. McConnell, in a floor speech on July 23rd, laid the foundation to present the aid package to Congress Monday. He said, “…Although the early days of our economic recovery have beaten expectations and surprised the experts, we have really only begun to repair the damage. More than 17 million Americans are still jobless. Far too many families are still hurting.” Read More
Six trends have been identified in a Cars.com press release that indicate digital auto sales are going to play a significant role. As the pandemic recovery effort continues to play out worldwide, the rapid move toward online auto sales is looking to be increasingly permanent and widespread. President and CEO of Cars.com Inc., Alex Vetter, said, “The current climate drove dealerships across the country to quickly adapt to meet the changing needs of American car buyers. Read More
Did you enjoy today’s automotive newscast? Please share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at jfitzpatrick@cbtnews.com.
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