Inside Automotive
Former AutoNation Executive Mark Cannon on EVs, price sensitivity, and the upcoming election
In the latest episode of Inside Automotive, anchor Jim Fitzpatrick interviews Mark Cannon, the former Chief Customer Experience Officer at AutoNation. Cannon, who had a successful career spanning 27 years at AutoNation, shares his insights on the current trends in the retail automotive industry. Watch full segment here.
Top Stories
Luxury car manufacturer Lincoln plans to close up to 100 dealerships in 2024 in a continuation of its efforts to extract itself from unsuccessful markets. The Ford-owned brand said it closed a comparable number of storefronts over the course of 2023, ending the year with roughly 500 locations. It aims to shrink that number to 400 by late 2024. Read More
On January 25, Honda and General Motors announced their joint venture, Fuel Cell System Manufacturing (FCSM), had begun producing hydrogen fuel cells for commercial use at GM’s Brownstown, Michigan plant. Engineers from GM and Honda began collaborating in 2013 to create the next fuel cell system. In January 2017, the corporations founded FCSM in the Downriver township with a combined investment of $85 million. Read More
Tesla is set to recall roughly 200,000 vehicles in the U.S. to patch out a software error that could limit driver visibility. According to the National Highway Traffic Safety Administration (NHTSA), a glitch in some Tesla vehicles can prevent the rearview camera image from displaying, limiting the driver’s view when backing up and increasing the risk of a crash. Read More
During the ongoing 2024 wage discussions, Toyota’s labor union demanded their largest yearly bonus on record, amounting to 7.6 months of pay, which is more than the previous high of 7.2 months, as reported by the Nikkei Business Daily. Given that Toyota has stated that it anticipates record-breaking consolidated operating earnings of $30.45 billion for the fiscal year ending in March 2024, the trade union will also likely demand high monthly wage hikes. Read More
For Dealers
Going beyond: how to overcome the challenges facing your dealership today
Automotive retail is and always has been a complex business. Selling a car is one of the most complicated transactions out there, increasingly so when you throw online retailing into the mix. On top of that, today used car margins are decreasing, service departments are at capacity, and there’s more cash than ever tied up in CIT and other transactions. Read More
The 5 biggest automotive adtech trends to watch out for in 2024
Advertising technology, or adtech, is an ever-shifting landscape. Like the rest of digital marketing, it experiences fresh changes and trends every year — and keeping up with those changes is a must for your dealership. If you don’t stay on top of things, you’ll fall behind your competitors. To that end, we’re reviewing some of the most significant automotive advertising technology trends going into 2024. Read More
