Weekly roundup: Ford Lightning dominates EV pickup market, Anderson Automotive expands

Earlier this week: The Ford Lightning leads in EV market interest, outdoing Tesla’s Cybertruck, says Cox Automotive. Las Vegas dealer Jim Marsh encountered a real-estate scam over a Colorado plot. Anderson Automotive Group expanded in South Carolina with seven new dealerships. A recent study shows electric vehicle leasing is more economical than gas-powered options. UAW’s president, Shawn Fain, readies for a potential strike amid pivotal automaker negotiations, and more headlines to stay on top of this week in automotive industry news.

1. Ford F-150 Lightning beats out Tesla Cybertruck in Cox Auto study

The Ford Lightning sees more interest from buyers than any other electric pickups on the market, according to Cox Automotive. Ford has seen relatively high demand for the battery-powered pickup, especially when compared to its other EVs. Vanessaw Ton, senior manager of market and customer research at Cox Automotive, says this is no surprise, given the brand’s long track of success in the truck segment. In terms of consideration, the F-150 Lightning beat comparable models from Ram and Chevy by 4%, GMC and Rivian by 19% and Tesla by 38%. Read More

2. Las Vegas car dealer targeted in real-estate scam over 42-acre site

Jim Marsh, a Las Vegas car dealer, says he became the target of a real-estate scam earlier this year involving a 42-acre plot of land in Colorado. Marsh, who owns Kia, Jeep and Chrysler storefronts in Nevada, originally intended to use the land as a vehicle auction site but began looking for a buyer after the plans fell through. However, in early 2023, an individual claiming to be the 89-year-old car dealer convinced a real estate agency to list the site for $900,000, well below market value. The car salesman said he was unaware of the scam until a title company informed him via a letter that a buyer had already signed a contract for the plot. Read More

3. Anderson Automotive acquires 7 dealerships from MCE Automotive

Anderson Automotive Group expanded its presence in South Carolina with its purchase of several dealerships from MCE Automotive Group. In its second acquisition for the year, the family-owned dealership group bought seven new storefronts in total across Greer, Greenville, and Easley. The purchase includes Toyota, Hyundai, Genesis, Nissan, Kia, and Chevrolet franchises. Anderson Automotive now has 20 sites across North and South Carolina. Read More

4. Electric vehicle lease cheaper than leasing or buying gas-powered model

A new study claims that an electric vehicle lease is more affordable than purchasing or leasing a gas-powered car. Car prices have risen steadily since the COVID pandemic, as the automotive industry has grappled with supply shortages and production disruptions. The average cost of a new vehicle in July was $48,334, $200 higher than in 2022. Researchers from Energy Innovations compared monthly costs for an electric vehicle lease to both lease and loan payments for comparable gas-powered cars. Out of the 14 models studied, an EV lease was cheaper than either option, with drivers seeing up to $500 in savings from some brands. Read More

5. UAW chief Fain holds mock demonstration in preparation for strike

During a practice picket outside of a Stellantis plant in Detroit, United Auto Workers president Shawn Fain discussed the possibility of a strike with union members as contract negotiations with Big-Three automakers draw closer to their September 14 deadline. The UAW has promised to strike should OEM executives fail to agree to their terms, which include large pay raises and guarantees that auto manufacturing jobs will be protected throughout the transition to electric vehicles. Fain has been a polarizing figure during these conversations, promising to stand firm against “corporate greed” and tossing a proposal drafted by Stellantis into a trashcan during a Facebook livestream earlier this month. Read More

6. Dealership training: how to provide a consistent customer experience — Sarah Vantine | Quantum5 (Sponsored Content)

Training plays a critical role in the success of dealership staff and, in turn, the customer experience. Yet far too often dealers struggle to ensure their teams are taught in a way that ensures clients are treated consistently across all departments. On this episode of Inside Automotive, host Jim Fitzpatrick is joined by Sarah Vantine, vice president of sales at Quantum5, to discuss why dealers are turning to new methods of training and focusing on the customer experience. Watch now

7. Why digital titling solutions are crucial for dealership success (Sponsored Content)

Titling can be a complex and time-intensive part of the car purchase process. With strong sales volumes expected in the back half of the year and car buyers wanting to spend less time at the dealership, the time is now for managers to devise more efficient strategies. On this episode of Driving Solutions, host Jim Fitzpatrick is joined by Kaitlin Gavin, vice president of operations for dealer solutions at Cox Automotive, John Devlin, the CEO and president of the Pennsylvania Automotive Association and Steve Hoffman, senior vice president of the Virginia Automobile Dealers Association to discuss tried-and-true methods for improving the titling process. Watch now

8. The frontlines of retail automotive: what dealers are seeing — Katie Bowman Coleman | Bowman Auto Group

From mom-and-pop dealerships to larger auto groups, the changing retail automotive landscape has impacted businesses big and small. But how are dealers on the frontlines adapting to the transforming landscape? On this episode of CBT Now, host Shyann Malone is joined by Katie Bowman Coleman, president and owner of the Bowman Auto Group, to discuss her experiences in the industry and how her dealership has fared throughout the year. Watch now

9. Addressing challenges in the ACC2 and driving zero-emission vehicle demand — Jim Appleton | NJ CAR

New Jersey Governor Phil Murphy announced a proposal to adopt the Advanced Clean Cars II plan (ACC2), which would require car manufacturers to increase zero-emission vehicle shipments to 100% of all deliveries by 2035. The strategy was originally implemented by the California Air Resources Board (CARB) last year and has since been adopted by multiple states. On this episode of Inside Automotive, hosts Jim Fitzpatrick and Shyann Malone are joined by Jim Appleton, president of the New Jersey Coalition of Automotive Retailers (NJ CAR), to discuss the proposal and how it could affect the retail automotive sector. Watch now

10. Why public dealership groups are returning to the mergers and acquisitions market (Sponsored Content)

Publicly traded dealership groups are starting to return to the mergers and acquisitions market as the post-pandemic economy stabilizes and OEMs ramp up production. But what exactly are buyers looking for, and where are they hoping to purchase storefronts? On this episode of Inside Automotive, host Shyann Malone is joined by Alan Haig, president and founder of buy-sell advisory Haig Partners, and Mike Toth, the firm’s managing director, to give a quarterly update on the state of retail automotive M&A. Watch now