The automaker's retailers laid out their concerns and needs to CEO Carlos Tavares as inventory piles up and market share drops.
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Automotive Industry Leader | Partner, General Manager & Vice President of Paragon Honda & Acura | Follow #brianbenstock
The automotive industry is experiencing a significant transformation. With the end of the "profit coma," customers have more options, making it easy for potential buyers to choose a competitor with the desired vehicle in stock. Many manufacturers are still grappling with supply chain interruptions, leading to inventory shortages and higher prices. This puts pressure on all dealerships, including those with limited inventory. As the industry adjusts, dealerships are preparing for a challenging period ahead. It's time to gather resources and brace ourselves for the changes on the horizon. #automotiveindustry #supplychain #manufacturing #inventoryshortage #dealerships #competition
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𝗟𝗲𝗮𝗱 𝗖𝗼𝗻𝘃𝗲𝗿𝘀𝗶𝗼𝗻 Expert at 𝗖𝗹𝗶𝗸𝟯𝟲𝟬 | Mastering Lead Generation & 𝗘𝗻𝘀𝘂𝗿𝗶𝗻𝗴 𝟭𝟬𝟬% 𝗖𝗼𝗻𝘃𝗲𝗿𝘀𝗶𝗼𝗻 𝗥𝗮𝘁𝗲𝘀 | #LeadSpecialist #DigitalMarketingStrategist
this is probably why we had great success with our beta testing auto dealerships. With a 100% search-to-lead conversion rate and a 90% CPL reduction, auto dealerships are not only able to stay afloat but hit record sales. #autodealers #leadconversion #100percentconversion #clik360
Automotive Industry Leader | Partner, General Manager & Vice President of Paragon Honda & Acura | Follow #brianbenstock
The automotive industry is experiencing a significant transformation. With the end of the "profit coma," customers have more options, making it easy for potential buyers to choose a competitor with the desired vehicle in stock. Many manufacturers are still grappling with supply chain interruptions, leading to inventory shortages and higher prices. This puts pressure on all dealerships, including those with limited inventory. As the industry adjusts, dealerships are preparing for a challenging period ahead. It's time to gather resources and brace ourselves for the changes on the horizon. #automotiveindustry #supplychain #manufacturing #inventoryshortage #dealerships #competition
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General Partner at Automotive Ventures | Author of the book "The Future of Automotive Retail" | Author of the weekly "Intel Report": sign-up at automotiveventures.com
The severe shortages in automotive chips caused by the onset of the Covid pandemic in 2020 have continued to reverberate. Those shortages helped elevate chip-industry revenue over the past three years, as automakers and their top suppliers sought to build up inventory to avoid being caught flat-footed by the absence of crucial components. But that was never going to last forever. And weakening sales of autos—particularly in the chip-heavy electric-vehicle category—have made that inventory buildup particularly expensive for auto suppliers. That has resulted in weakening orders for chip makers who supply the sector. The excess inventories built up during the pandemic will likely haunt chip makers for much of the year, as the industry’s long production lead times don’t lend themselves to quick market corrections. https://lnkd.in/e5Grpn_2
Mobileye Crashes Into Auto-Chip Pileup
wsj.com
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Time to Increase your training and improve your product knowledge to capture more of the market.
Automotive Industry Leader | Partner, General Manager & Vice President of Paragon Honda & Acura | Follow #brianbenstock
The automotive industry is experiencing a significant transformation. With the end of the "profit coma," customers have more options, making it easy for potential buyers to choose a competitor with the desired vehicle in stock. Many manufacturers are still grappling with supply chain interruptions, leading to inventory shortages and higher prices. This puts pressure on all dealerships, including those with limited inventory. As the industry adjusts, dealerships are preparing for a challenging period ahead. It's time to gather resources and brace ourselves for the changes on the horizon. #automotiveindustry #supplychain #manufacturing #inventoryshortage #dealerships #competition
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Pricing power in the automotive industry is a dynamic interplay between supply, demand, and consumer sentiment. The recent shift in pricing dynamics signifies a more consumer-centric approach, where affordability and value proposition are paramount. For OEMs and car dealerships, adapting to these changing dynamics and finding the right balance between profitability and consumer affordability will be crucial to success in a marketplace susceptible to deflationary pricing. #automotive #deflation #dealerships
The automotive industry's pricing dynamics have undergone a significant shift, according to Edmunds and Black Book data. Due to strong consumer demand and limited supply, new vehicle transaction prices surged by 32% from January 2020 to early 2023. However, recent data from these sources shows a decline of over 3.5% in vehicle prices through October 2023. This decline highlights consumers' growing resistance to high prices, posing challenges for automakers looking to maintain profitability through price hikes. #automotive #pricing #oem
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International Automotive Expert | Automotive | EV | Electric Vehicles | Product Strategy | Business Development | Consulting | VP | Director | Growth Markets | Go-to-Market Strategy | Product Placement | Sports Marketing
NO, to answer the question below. In 2009 the OEMs had an epiphany about reduced capacities, lower inventories, slim discounts, and higher profits. By 2015 it was back to business as usual with inventories and incentives. There will always be one undisciplined actor that takes advantage and tries to rapid grab market share with discounts. #discounts #inventory #automotive #carsales #discipline
Will industry learn lesson from lean inventories?
autonews.com
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Discount Tire is the leading retailer for tires in the US – but consumers pay a higher average price paid than industry standard. Check out more tire market insights in our latest blog post: https://hubs.ly/Q027dVQv0 #automotive #tires #marketshare #markettrends #consumerinsights
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