These automotive advancements are scary real. This week, read about the lingering effects of the GM strike and Ford’s tantalizing truck incentives. Plus, take a look into the crystal ball of millennial shoppers.
FROM TIME AND ALLY: 2020 TIME Dealer of the Year Nominee
The winner of the TIME Dealer of the Year award will be announced at NADA 2020. Start prepping your conference agenda by checking out this year’s list of dedicated, community-focused nominees.
FROM BLOOMBERG: GM Ends After Almost Six Weeks at Cost of $2 Billion
Experts predict GM dealers shouldn’t be expecting an increase in vehicle prices despite the manufacturer’s financial hit. Labor costs only make up around 5% of a car’s listing price, and factory production is expected to return to full capacity in the coming days.
FROM AUTOMOTIVE NEWS: Higher Truck Incentives Dim Ford’s Outlook
The OEM is treating dealers with increased incentive spending to avoid being tricked by underperforming full-size pickup sales. As a brand, Ford’s incentives now make up 13.7% of a vehicle’s average transaction price.
FROM BUSINESS INSIDER: Bentley’s CEO of North and South America Reveals the Biggest Way Millennials Are Different From Older Customers
According to the luxury manufacturer, the next generation of shoppers are more in tune with a brand’s values than ever before. Emerging trends are sending this demographic to the dealership with a new list of concerns such as electrification and environmental sustainability.
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