CBT News | Automotive Industry | Dealership News
WEBSep 16, 2024 · The move comes as GM invests approximately $390 million into the Fairfax facility to facilitate the production of the new Chevrolet Bolt EV. "To install new tooling, employees will be placed on a temporary layoff until production resumes in mid-2025," said GM spokesman Kevin Kelly. The affected workers will receive support from the...
MileOne acquires Koons Wilmington Lexus from Asbury …
WEBMarch 5, 2024. Koons Wilmington Lexus. MileOne Autogroup purchased a Delaware Lexus dealership from Asbury Automotive just months after the seller acquired the storefront from the Jim Koons group. The transaction for Koons Wilmington Lexus was finalized on March 4 and included the dealership’s land. Its transfer marks the first time MileOne ...
Why car dealers are investing in AI technology for business growth ...
WEBJanuary 12, 2022. Artificial Intelligence, or AI, is changing the way many in the industry navigate retail automotive, and dealers are seeing the benefits. According to a recently released study from CDK Global, approximately 68% of dealerships believe the adoption of artificial intelligence has had a positive impact on their businesses. On ...
Why Dealerships Need To Improve Their Customer Experience
WEBAug 5, 2019 · In fact, 54% of consumers would buy from dealerships who provide better experiences compared to lower prices. This statistic shows that value is a more important factor than quality when consumers are selecting their service providers. Even 97% of dealers agree that the customer’s experience in the service department is important to …
CDK Global responds to cyber attacks, provides dealer support
WEBBy CBT News. June 22, 2024. The ongoing cyber attack on CDK Global underscores the growing complexity and impact of cybersecurity threats on businesses. As part of CDK Global’s ongoing response, the company has created a Dealer Resource Center (DRC) to help dealerships maintain operations while their systems are being recovered.
Record EV sales in Q2 as new models boost competition and
WEBAug 22, 2024 · According to a recent Kelly Blue Book study, electric vehicle (EV) sales in the U.S. reached new heights in the second quarter of 2024, with 320,463 units sold—a notable 23% increase from the previous quarter and an 11% rise compared to the same period last year. Despite discussions of a potential EV market slowdown, more models …
CBT News | Daily Newscast | Auto Industry News and Insights
WEBDealer strategies, EV trends, Data protection amidst market shifts. CBT News - September 2, 2024. 1 2 3... 322 Page 1 of 322. Get insights and updates on automotive industry trends, dealership news, market analysis, and more with the CBT News Daily Newscast.
Equifax and Cox Automotive partner to tackle rising synthetic …
WEBAug 22, 2024 · It’s the peak summer selling season for auto retailers, and fraud prevention is at the top of minds now more than ever. With synthetic identity fraud attempts against auto lenders increasing by 98% in 2023, Equifax and Cox Automotive’s Dealertrack have teamed up to ensure dealers are aware of the latest and greatest fraud prevention …
Hackers demand ransom from CDK Global amid ongoing …
WEBJun 22, 2024 · A group claiming responsibility for hacking software company CDK Global is demanding tens of millions of dollars in ransom, according to Bloomberg.CDK is reportedly considering paying the ransom, though discussions are ongoing and may change. The cyber outage has now entered its third consecutive day, severely impacting software …
Buyers flooding the market in hopes of improved affordability
WEBApril 9, 2024. Buyers are returning to the new and used vehicle markets in hopes of finding a good deal, even as pre-pandemic levels of affordability remain distant, according to CarGurus’ first quarter review. Over the last four years, car prices have skyrocketed, effectively blocking all but the most wealthy buyers from the market.