CBT 10/11/23 Newsletter
Today's top automotive industry headlines with Shyann Malone .
After Tesla’s most recent price cuts, the EV maker’s best-selling EVs now directly compete with gasoline cars on price. At $38,990, the base Model 3 is $8,700 less expensive than the U.S. average for buying a vehicle.
South Korean tech startup BOS Semiconductors has formed a partnership with U.S. artificial intelligence hardware company Tenstorrent to develop semiconductors for use in vehicles and vehicle manufacturing.
BMW broke its previous electric vehicle sales record in the U.S. as overall sales rose 8% year-over-year during the third quarter.
General Motors is now facing international labor strikes after failing to negotiate a tentative agreement with approximately 4,300 workers represented by the Canadian union Unifor.
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Since 2022, fleet customers have been a primary source of sales for manufacturers, with many owing their unexpectedly fast post-pandemic recoveries to business clients. On Driving Solutions, Kathryn Schifferle, founder and chief visionary officer at Work Truck Solutions, discusses the incredible opportunities the segment presents to dealers, along with strategies to penetrate the market.
Modern dealerships face numerous challenges, including changing consumer behavior, new OEM agreements, rising competition, and technological disruption. So, how do owners and managers meet these challenges? The key to overcoming challenges is through creative problem-solving, which requires a willingness to confront complex issues, take calculated risks, and think outside the box. So, let's look at ways you can develop a new paradigm.
Rapid digitalization during the pandemic has made a lasting impact on the way customers shop for vehicles. As the “partially online” retail experience grows increasingly popular, the physical dealership is still playing an important role, and many consumers still want to see, feel and drive the cars they plan to purchase. But to adapt to buyers’ evolving needs, dealers must provide a consistent omnichannel buying experience that removes aspects like haggling, paperwork and other menial tasks that slow down the purchasing process.
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