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Fixed ops revenue up, UAW strike postponed, Tavares mulls 2024 strategy

Inside Automotive

April Simmons joins Inside Automotive to discuss the latest dealership marketing trends impacting the retail automotive sector.Understanding the latest dealership marketing trends — April Simmons | Horne Auto Group
Dealership marketing trends have evolved rapidly in recent years as consumer preferences and industry conditions have changed. With so much to keep track of, many dealers feel at a loss when it comes to engaging with car buyers, whether online or in-store. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by April Simmons, corporate internet and marketing director at the Horne Auto Group of Arizona. Watch full segment here.

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Fixed-ops revenue and demand increased in January, offsetting declines in new and used vehicle prices and buying dealer revenues.Fixed-ops revenue and service demand ticked up in January, offsetting the impact of declining car prices seen throughout the month. Data from Cox Automotive indicates that dealership service teams saw more business month-over-month. January’s fixed-ops volume rose 2.7% from December, an increase which Skyler Chadwick, Cox Automotive director of product consulting, noted came against “severe winter weather across the U.S….” Read More

The UAW has confirmed it has reached a tentative agreement with Ford at the company's Kentucky Truck Plant, narrowly avoiding a strike.Ford has reached a tentative agreement with United Auto Workers (UAW) members at its Kentucky Truck Plant, narrowly avoiding the deadline to prevent another labor strike. Earlier this week, the UAW announced it would stage a strike at the factory if the automaker failed to produce a now five-month overdue contract before early morning Friday, February 23. This morning, local union officials confirmed the deal had been arranged, with less than two days to spare. Read More

On February 20, Stellantis CEO Carlos Tavares recently spoke to reporters about the company's performance and plans for improvement.On February 20, Stellantis CEO Carlos Tavares recently spoke to reporters about the company’s performance and plans for improvement. He acknowledged areas where Stellantis could have done better in 2023 and outlined his plans to correct those issues in 2024. Stellantis, which sells the Dodge, Chrysler, Jeep, Ram, and Fiat brands, reported a net revenue of $92.8 billion in North America for 2023, up 1% for the year but down for the second half. Read More

According to a report, a financial advisor is assisting Thoma Bravo in assessing interest in J.D. Power as it considers selling the company.According to a February 20 Bloomberg News report, a financial advisor is assisting Thoma Bravo LLC in assessing interest in the consumer information firm J.D. Power as it considers selling the company. The technology-focused buyout company intends for J.D. Power to be valued at roughly $8 billion, including debt. Additionally, manufacturers and customers in the auto industry hold J.D. Power in high regard due to its several annual reports, including the Initial Quality Study (IQS). Read More

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