CBT automotive newscast: February 8, 2022

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Inside Automotive:

Are you asking clients the correct questions at your automotive dealership?
Welcome to a different version of Inside Automotive with Jim Fitzpatrick who’s joined by Sean Gardner, teacher and gross sales coach with the Joe Verde Group.  For over 35 years JVG has been a number one coaching group for automotive sellers, managers, and salespeople all over the world. At present, Gardner shares his high methods for closing extra offers each month. Watch the whole phase right here.

Headlines:

The U.S. Securities and Change Fee reportedly issued a subpoena to Tesla in November requesting the automaker present particulars on its governance and compliance procedures surrounding CEO Elon Musk’s 2018 settlement with the fee. Tesla’s annual report was launched this week and indicated the S.E.C. is wanting into its settlement with Musk that requires him to search lawyer approval earlier than he communicates with traders and the general public. The current subpoena was issued after Musk posted on Twitter and requested followers in the event that they thought he ought to unload 10% of the Tesla inventory he owns. Musk had beforehand additionally stepped down as Tesla’s Chairman as a part of the 2018 settlement with the S.E.C.

Ford is constant to be impacted by the semiconductor chip scarcity, asserting Friday that eight manufacturing vegetation all through North America can be decreasing manufacturing of a number of autos beginning this week. This contains its much-anticipated Ford Bronco in addition to Explorers, cargo vans, pickup truck fashions, electrical Mustang crossovers, and Lincoln Aviators. The announcement comes after Ford inventory dropped virtually 10% on the finish of final week after the automaker introduced it had missed its goal manufacturing targets in 2021. Regardless of the impacted manufacturing, Ford CFO John Lawler instructed reporters final week that Ford is optimistic the availability chain points will enhance this 12 months.

Volkswagen lately mentioned the automaker is projecting it can proceed to be impacted by the semiconductor chip scarcity past the primary half of this 12 months. A Volkswagen board member instructed reporters that there’s optimism the availability chain constraints will enhance all through 2022 however is not going to cease till 2023 on the soonest. He referred to the shortages as a “unstable scenario,” and added that the German automaker is attempting to work with suppliers extra effectively as an alternative of specializing in damages they’ve precipitated. Volkswagen has mentioned will probably be in a position to make higher projections subsequent 12 months when the shortages have improved.

The US Postal Service has introduced it’s nonetheless dedicated to its next-generation supply automobile plan, which incorporates the use of electrical autos and extra environmentally-friendly procedures. CEO Louis Dejoy mentioned the preliminary steps of the postal service’s plan nonetheless embody the acquisition of 5,000 electrical supply autos with room to develop sooner or later. Dejoy cited the postal service’s “dire monetary scenario” and added that till extra funding for these electrical autos is obtained, different monetary selections should be made with a purpose to make its fleet safer and extra eco-friendly. The U.S. Postal Service has been working with Congress and numerous federal businesses to develop its general plan.

Celebrating Black Historical past Month:

This February, in honor of Black Historical past Month, we wish to have fun and acknowledge the achievements of black retail automotive professionals previous, current, and future. At present, we’d like to focus on McKinley Thompson, Jr., Ford Motor Firm’s first black car designer.

Within the early Nineteen Fifties after serving within the Military Sign Corps Throughout World Conflict II, Thompson gained a design contest in motor development journal and was awarded an artwork college scholarship. He then went to work at Ford’s superior design studio the place he contributed sketches for the Ford Mustang and conceptualized iconic attributes of the Ford Bronco.

Information & Opinion:

virtual F&IIs digital F&I right here to remain? Most likely, and right here’s why
For the reason that begin of the pandemic, automotive patrons and dealerships have needed to navigate the steep studying curve of digital retailing to promote in a safer atmosphere and in accordance with state and native mandates. Although it could seem to be one million years in the past since March 2020, we’re nonetheless attempting to shake COVID and its variants. However dealerships have continued with a extra strong digital presence as clients are fairly merely used to it and, in lots of instances, desire it versus the previous means of shopping for a automotive. Sitting for hours on the lot has misplaced its luster and so it goes for the F&I course of. Enter the rise of the Digital F&I expertise. Learn Extra

What’s Ford doing on the Detroit practice station?
Whereas many of the current information about Ford Motor Co. has handled its electrical automobile applied sciences, the automaker introduced final week that will probably be partnering with Google to work on its plans of redeveloping the Michigan Central Station in Detroit. The previous practice station, which has not been in service since early 1988, was acquired by Ford in 2018 with the aim of it being reworked right into a revolutionary mobility district. At the moment, Ford’s government chairman Invoice Ford mentioned the automaker made the acquisition as a result of Ford “believed in a imaginative and prescient that reimagined the enduring Michigan Central practice station and surrounding space as a spot of risk once more.” Read more


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