CBT automotive newscast: October 8, 2021

Inside Automotive:

Jonathan Dawson on how car dealers can create more value for their customers
Sellchology, a term coined by sales trainer Jonathan Dawson, is the philosophy of selling through psychology. In today’s digital environment it is critical for sales teams and managers to understand this in order to be more effective in the market. That’s why each month, right here on CBT News, Jonathan walks us through strategies to better influence buying behavior on his show, Mind Your Own Business. Now, he joins us today to discuss how dealers can create more value for their customers. Watch the complete segment here.

Headlines:

According to a new study by J.D. Power, many consumers either don’t use all the technology built into their vehicles or don’t even know what technology their vehicles offer. They also found that gesture control systems, that tracked hand movements to control features like audio volume, have an “extremely high” number of problems. Automakers are investing in new technology and doing their best to stay on top of trends while delivering the sort of features that motorists actually want and need. However, how well consumers react to technology often depends on the brand they purchase from.

Speaking of technology, General Motors plans to roll out a new, more capable hands-free driving assistance system in 2023 that will be able to handle 95% of all driving scenarios on city streets and highways. The new Ultra Cruise system will co-exist with Supercruise, the driving system they currently offer. Ultra Cruise broader coverage will be available on premium nameplates and will cover more than two million miles of roads at launch, with coverage expanding to more than 3.4 million miles. Ultra Cruise will launch via the Cadillac brand when it becomes available in 2023. GM did not say whether it will be a flat fee or subscription-based.

In more GM news, the automaker plans to rapidly scale EV production and build out its new businesses to double revenue to almost $280 billion by 2030. Chief Financial Officer, Paul Jacobson said, GM projects revenues will grow from $10 billion in 2023 to $90 billion by 2030. The largest U.S. automaker said it’s focusing on becoming a tech company, adding another $80 billion in revenue from new businesses such as digital subscription services including driving system ‘Cruise’ and Brightdrop, which focuses on developing electric solutions for the delivery and logistics industry. The company aspires to have an emissions-free lineup by 2035 and 1 million EVs on the road worldwide by 2025.

Mercedes-Benz plans to add 300 jobs at its Alabama assembly plant by the end of the year, as the automaker prepares to build EUVs. The factory in the town of Vance, employs 4,400 people and is a production hub for the Mercedes GLS and GLE vehicles. The automaker is hiring for the assembly, body, and paint shops, as well as the battery plant. Mercedes has the potential to produce approximately 40,000 units of each electric model in the first year of production in the U.S.

One of the largest dealership groups in the country, Morgan Auto Group of Tampa, Florida has purchased seven luxury and import dealerships, making its largest acquisition based on the number of stores. Morgan Auto acquired Reeves Import Motorcars. The terms of the deal were not disclosed. Morgan Auto group now has 53 dealerships, all located in Florida.

News & Opinion:

Ford drives a lifestyle brand growth strategy
Launching off its successful Bronco and Mustang Mach E, Ford wants to expand the brand that once partnered with Versace to sell $1,135 Ford branded hoodies. To help move that along, Ford created a global brand merchandising director role for Alexandra Ford English, the great-great-granddaughter of Henry Ford. This type of marketing campaign isn’t something that’s new to Ford. Ford used Formula 1 great, Jackie Stewart, to promote various models over 40 years – even the Ford Pinto. Read more

How to become a better business leader in less than two minutes
Well that’s a statement, isn’t it? Is this really possible? Let’s find out. Learning how to control our breath is one of the most powerful and quickest strategies to reduce our stress levels, improve our state of mind, and increase our energy levels. Below are four strategies that I use to improve decision-making, increase productivity, and create fewer emotionally driven negative reactions.  All of which contribute to a better culture and environment for the team and our clientele. Read more