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Genesis Motors Australia is set to open its first agency-model retail site in mid-2025, with a brand-new showroom in Sydneys northwest. Located on Victoria Avenue in Castle Hill, the upcoming Genesis Castle Hill Showcase marks a major milestone in the brands Australian expansion and introduces a new chapter in its retail approach.
Current geopolitical challenges and mandates aside, automotive retail is constantly evolving, and is impacted by many factors. We may not have a crystal ball that lets us see the future of automotive retail, but we can gain valuable insights from the people that live and breathe it every day. We identified six key trends.
By delving into emerging trends, challenges, and regulatory considerations, the report highlights AI's significant impact on the financial sector and their auto retail partners, and outlines a path toward a more responsible and innovative future. Without effective governance, these risks could undermine consumer trust and market stability.
Assurant has appointed Sam Michel to the position of business development manager for UK automotive. Michel will identify and create commercial partnerships with retailers across franchise dealerships and car supermarkets based around Assurants suite of vehicle protection products and technology solutions.
With a focus on innovation and real-time customer experiences, the company aims to reshape the future of automotive retailing. A Mission to Redefine the Retail Experience AiAutos mission is to equip dealerships with tools that enhance efficiency, improve customer satisfaction and create seamless retail experiences.
Polestar’s UK retail partners will soon be able to actively sell from each Space. Matt Galvin, MD, Polestar UK says: “Expanding our retail operations with new and existing partners will enable us to reach more customers. This story continues at Polestar UK develops non-genuine sales model Or just read more coverage at Motor Trader
A Capital One study about loyalty notes its importance: 65% of retail business comes from loyal customers. The post Developing a More Profitable and Customer-Satisfying Shop Cadence appeared first on AutoSuccessOnline. Quick lane oil services drop from two- to three-hour waits to 90 minutes or less, and customers are happy.
Cadillac has revealed the location of its first Australian experience centre, one of two retail locations it has announced for our market. The General Motors luxury brand is set to begin work on developing its 841m² premises within the Rosebery Engine Yards retail and lifestyle precinct.
Zoom, which has been acquired by Amazon, is developing a robotaxi Nevertheless, it has reportedly being hiring a number of employees in Detroit, among them from legacy automakers like GM , Ford, and Stellantis, as well as not-so-successful startups such as Fisker and Canoo. In fact, it has so far invested more than $1.3
Toyota For reference Toyota retail sales are down -17.1% Honda Equally impressive is Honda, which launched its new Ye family of EVs developed specifically for the Chinese market. Only just over a year after its launch in the country, Smart is struggling already with retail sales down -72.1% Honda sales are down -34.4%
Since its founding in 2014, the firm has led the industry with the sale of over 280 dealerships representing over $9 billion in client proceeds, including the third largest transaction in auto retail history the sale of Jim Koons Automotive Companies to Asbury Automotive Group. To access The Kerrigan Index, click here.
While this age of new technology introduces successful tools for the retail automotive business, there are no magic bullets that will, by themselves, improve ALL aspects of your dealership. The best dealerships still get better at executing the basics of the business.
Central to this process is the use of encryption in safeguarding customer data in automotive retail to avoid privacy breaches, and how dealerships can implement encryption to protect their customers and businesses. Customers now expect seamless online experiences, from researching vehicles to completing purchases.
We are honored to continue to support the Bohn family, this time in the sale of their Hyundai Genesis dealership, a transaction that, again, underscores the enduring strength of the auto retail market in the South, said Gabe Robleto, Senior Vice President, Sell-Side Advisory at Kerrigan Advisors. To access The Kerrigan Index, click here.
Joining the IMDA is Allan Thompson, MD of County Garage Ford and chairman of the National Ford Retail Dealers Association (NFRDA). He holds a Retail Automotive masters degree with Loughborough university, developed in collaboration with Ford Motor Company and is a fellow with the IMI.
These programs focus not just on product knowledge but also on developing the necessary skills to effectively communicate the value of F&I products to increasingly savvy and cost-conscious consumers while doing so in a compliant manner. Another notable trend in 2024 was the increasing adoption of technology in the F&I process.
” Last year, Volvo achieved its highest full-year retail sales (763,389 units) , revenues, and core operating profit in its 98-year history. I wish everyone at Volvo Cars continued success as the journey continues.”
Lochscheller described the UK-developed 5 as an "amazing sports car".It It's unclear whether Polestar will develop a bespoke new platformor use existing platforms. It will be followed at some stage by the 6, a limited-run 2+2 roadster.
Lee Coomber, RAC client director at Assurant, a premier global protection company that works with the RAC in the warranty and aftersales sector, explained that the new development builds on a collaboration first established two years ago.
Hicks, previously sales director for Kia UK, joined the business in 2017, leading all sales channels across retail and fleet, for new and used cars, in collaboration with the 190-strong dealer network. Hicks will now lead Kia UKs marketing function as it enters an era of product introductions and brand development.
Interactive EQ, an interactive talent assessment platform that combines AI and interactive videos to measure emotional quotient (EQ), launched its Auto IEQ product for dealers/retailers, service providers, and OEMs. Interactive EQ was created and developed by former Tekion executive and automotive industry leaderNapo Rumteen.
The duo has developed nine new products including a limited edition heritage set. Hot Wheels for Ferrari Heritage Set For fans with smaller budgets, there’s a series of Premium cars that retail for $6.49. Ferrari and Hot Wheels have joined forces for the first time in more than a decade. Moving on, there’s a $16.99
Vertu will use all data points required from cap hpi to assist in the retailing of vehicles, supporting operational efficiency and bolstering its omnichannel retail strategy. Data drives our omnichannel development, bringing bricks and clicks together.
Most recently, Carney was commercial and retail operations director at Inchcape. Carney said: After years of strengthening and developing the UK presence of some of the worlds most established brands, its an exciting challenge to lead the introduction of a new brand and a fantastic new product.
As someone who has been an operator in automotive retail for a couple of decades now, the ASBC had been there in the background and Id even sent some dealership employees to their programs. This helps them build long-lasting connections and a network to navigate the changing landscape of retail operations. After getting past the What?
I want to say a special thank you to my colleagues for reacting so quickly to the new requirements for commission disclosure, working night and day to develop an effective solution very quickly. We took the difficult decision to pause lending for the right reasons, to keep our customers, partners and our business safe. “We
Additionally, Greensburg serves as a key retail hub for the region, featuring the Westmoreland Mall, a newly opened casino, 22 automotive franchises, and an affluent population that spends 4.2 average on retail sales annually. times the U.S. To access The Kerrigan Index, click here.
One interesting practice that some dealerships have adopted is displaying the production cost next to the retail price of vehicles. Understanding Production Costs and Retail Pricing Production costs refer to the total expenses incurred to manufacture a vehicle. This includes raw materials, labor, overheads, and other direct costs.
Romano led Hyundai and sister company Genesis to many accomplishments for retail sales and growth. But it did well and subsequently developed into standalone franchise distributors. I told him I could do another two to three years. Were actually the top-performing country in the world for the way we did it, said Romano.
The partnership brings Impel’s conversational AI products to Ford dealers and Lincoln retailers throughoutthe U.S. Automotive retailers generate vast amounts of customer behavioral data, yet due to siloed legacy systems and a patchwork of digital platforms, aggregating and accessing this valuable asset has been a longstanding struggle.
Recent developments have brought significant regulatory changes to the automotive industry. Meanwhile, the Fifth Circuit Court of Appeals recently invalidated the FTCs Combating Auto Retail Scams (CARS) Rule. Meanwhile, the Fifth Circuit Court of Appeals recently invalidated the FTCs Combating Auto Retail Scams (CARS) Rule.
Having the guidance of an authority, such as The Motor Ombudsman, will be a valuable resource to further the learning of our teams, and the continued development of our business. This is expected to rise to close to 70,000 in 2025.
The speed with which AI tools are advancing is incomparable to any software development we have ever seen,” said Chris Walsh, president of Reynolds. “We We launched Spark AI at Reynolds Retail Summit in August, and we are already two iterations beyond that version with additional products being released at the show.”
The company has expanded internationally, delivering expert-led training – from North America to South East Asia – covering sales excellence, service advisor and manager training, leadership development, and EV training. The company is on track to surpass £2m annual turnover.
Certified learners will gain highly marketable skills, positioning them as leaders in the rapidly evolving automotive retailing landscape. This partnership with Impel , and the launch of an industry-wide AI certification program, represents a transformative step for automotive retailing, said Matthias Stoever, CEO at RockED.
Rivian originally built its Electric Delivery van exclusively for Amazon , having inked a partnership with the retail giant in 2019 to deliver more than 100,000 examples. The first two vans will be used at pop-up events throughout Vermont.
Yet, making online retail into a reality has remained a challenge for auto dealers. In worst-case scenarios, that process can take far longer: news reports have highlighted instances where some online retailers took nearly a year to get a title to a customer. E-commerce is the future for auto dealers.
E-commerce : Online retailers often see customer interest that does not culminate in a sale, particularly with first-time visitors. Develop messaging that reflects their previous interactions, acknowledges the time elapsed, and highlights new offerings or updates since their last engagement.
The expansion of the Japanese firm’s line-up is part of an £8 billion electrification investment package, which will result in seven new EVs being introduced worldwide – three of which will be SUVs developed with technical partner and 20% stakeholder Toyota , as was the bZ4X-based Solterra. The south-east is a good example.”
Instead of hiring additional staff or redirecting calls to a business development center, this intelligent agent seamlessly steps in, ensuring that no call is missed and appointments are scheduled efficiently. Automotive Retail and the Future With all this technology at dealers’ fingertips, where can the industry go from here?
Hosted by the Motor Vehicle Retailers of Ontario (MVRO) at the sold-out Village Loft in Toronto, the association representing Ontarios car dealers held the latest of its Women Driven events. On April 10, Canadas auto industry experienced more than just another networking night it experienced a movement.
Chris Graham, network development manager at XPENG UK, said: We have received a substantial amount of interest from potential partners for franchise opportunities right across the UK and will expand our network of retailers and aftersales points throughout the year.
He is joined by April Allanson and Paul Kelly who are responsible for business development strategy and active in the UK retail network. As a result, retailers can be pro-active in engaging with previous customers who may be looking for another vehicle.
The expansion of the Japanese firm’s line-up is part of an £8 billion electrification investment package, which will result in seven new EVs being introduced worldwide – three of which will be SUVs developed with technical partner and 20% stakeholder Toyota , as was the bZ4X-based Solterra. The south-east is a good example.”
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