JUNE 7, 2023

Welcome to the Wednesday, June 7, 2023, edition of WardsAuto Dealer 5. As always, there's plenty of news about the auto sector. We've gathered some of the most notable stories from WardsAuto and beyond to ensure you are in the know.

Buy-Sell Dealership Activity Expected to Grow

Analysts believe dealership profits will also rise.

Full article

Gain new car market share with vAuto Conquest™
New vehicle supply is coming back and there’s opportunity to profit. But inflation, rising interest rates and floor plan expenses can get in the way. To dominate your market, it’s critical you turn and earn more vehicles with vAuto Conquest™. See how live market insights give you the competitive edge.

Leased BEVs More Affordable Than ICE Vehicles, says J.D. Power

Dealers who remind customers of a federal tax credit of up to $7,500 can boost profits, satisfaction.

Full article

Thrive Now: Lean Inventory Guide
With inventory challenges impacting nearly every dealer, finding new ways to acquire more vehicles can mean higher profits for those willing to put in the work. Learn five sales strategies specifically developed for lean-inventory times to overcome supply chain challenges, acquire more vehicles, and thrive now.

Rising Interest Rates Slow the Rush Toward Long-Term Loans

Dealers find some customers opt for shorter loans rather than high-interest long-term financing.

Full article

Access to Connected Car User Data a Future Risk to Automotive Security
VicOne researchers explore current cyberattacks on connected cars in the underground and potential future attacks, and recommend how risks can be mitigated.

How Ford, GM auto dealers are thinking about Detroit’s EV transition and their future

Auto dealers are essential to the adoption of EVs for companies including Ford and GM, which have thousands of local franchise owners instead of offering direct sales like Tesla.

Full article

Carvana Ranks Among Best Employers For Diversity in 2023

Nation’s Largest Online Used Auto Retailer Embraces Diversity in the Workplace by Nurturing an Environment of Integrity, Respect, and Teamwork

Full article

That’s our WardsAuto Dealer 5 for today. We’ll be back soon with more high fives.

As always, please feel free to pass this along to your colleagues and others who are interested in automotive insights.

If you have questions, concerns or story ideas, please contact editor Nancy Dunham at NDunham@WardsAuto.com

Thanks for reading. We'll be back soon with more of the latest news.

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