vice president – Cheap Auto Insur Online http://cheapautoinsuronline.com/ Tue, 12 Apr 2022 20:10:41 +0000 en-US hourly 1 https://wordpress.org/?v=6.2.2 https://cheapautoinsuronline.com/wp-content/uploads/2021/06/icon-2.png vice president – Cheap Auto Insur Online http://cheapautoinsuronline.com/ 32 32 SUNY’s Seaco Automotive program seeks to expand https://cheapautoinsuronline.com/sunys-seaco-automotive-program-seeks-to-expand/ Wed, 16 Mar 2022 22:24:00 +0000 https://cheapautoinsuronline.com/sunys-seaco-automotive-program-seeks-to-expand/ ORCHARD PARK, NY (WKBW) — SUNY Erie Community College’s two-year Seaco automotive program is expanding as West Herr Automotive Group waits for more students to graduate and transition into full-time jobs. A sophomore and hardworking Seaco student says it has always been his dream to be part of the automotive industry, and this program helps […]]]>

ORCHARD PARK, NY (WKBW) — SUNY Erie Community College’s two-year Seaco automotive program is expanding as West Herr Automotive Group waits for more students to graduate and transition into full-time jobs.

A sophomore and hardworking Seaco student says it has always been his dream to be part of the automotive industry, and this program helps him seize several opportunities.

“It’s different from lecturing obviously, because being able to do it on the job, you’ll learn it much faster,” says Samuel Lotempio. “By doing it with your hands, you’ll get muscle memory that you don’t get in a lecture.”

The program guarantees students a job after two years.

“I think it’s great because it’s way better than any internship,” says Lotempio. “In an internship, you might get that job, but with that, you already have that job and you’re lined up. You don’t have to worry when you graduate.”

West Herr vice president of fixed operations Jay Galligan told 7 News he was confident the program would grow and students would learn success from being hands-on in the business.

“Adding 36 more technicians to our team, we have 12 to 15 more starting in the fall. So it’s a nice repeatable program that allows us to have long-term success,” says Galligan.

Galligan looks forward to transitioning students into full-time employment with West Herr Automotive Group.

He says the full-time job would also have access to health benefits, and of course the pay rate will be higher than expected.

“The average technician earns just over $56,000 a year. The average clinical technician earns over $62,000 a year,” he says. “When you’re dating, you make an average of $40,000 to $45,000 a year.”

Program instructor Vincent Laverdi says West Herr being the center of student learning and growth can be an investment in students’ futures.

“The good thing about the co-op initiative that they’re already working at the dealership, so it’s not like they have to pile up after the program,” Laverdi says. “Because they have been working for two years that they have been with us.”

Other students say that this program has advantages that prospective students should use to their advantage.

“Seeing things at the dealership and then coming here and learning what we just touched at the dealership really helps the learning process,” says Seaco student and worker James Brown.

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Stellantis CEO Tavares says van unit will have freedom to develop new technologies https://cheapautoinsuronline.com/stellantis-ceo-tavares-says-van-unit-will-have-freedom-to-develop-new-technologies/ Thu, 10 Mar 2022 13:12:28 +0000 https://cheapautoinsuronline.com/stellantis-ceo-tavares-says-van-unit-will-have-freedom-to-develop-new-technologies/ Stellantis’ current light commercial vehicle operations are led by Xavier Peugeot, who serves as Senior Vice President, Commercial Vehicles Business Unit. Tavares created a separate business unit for light commercial vehicles at the head of the PSA group in 2016, headed first by Philippe Narbeburu. It is not clear if Xavier Peugeot would hold the […]]]>

Stellantis’ current light commercial vehicle operations are led by Xavier Peugeot, who serves as Senior Vice President, Commercial Vehicles Business Unit. Tavares created a separate business unit for light commercial vehicles at the head of the PSA group in 2016, headed first by Philippe Narbeburu.

It is not clear if Xavier Peugeot would hold the same title with the new unit.

“We will create a new business entity dedicated to our professional customers and their needs, and the management team will have more autonomy,” Tavares said, adding that he would provide more details, including on the management team. management in the months to come.

He did not say whether the new business would spin off from Stellantis’ passenger car operations, as the Mercedes-Benz Group did last year with Daimler Trucks.

“It’s a huge business with huge potential for profitable growth, and I don’t want them to be held back by the rest of the business, should that happen,” Tavares said. “So if I want that to break free, the best way is to give them dedicated staff, dedicated factories, dedicated autonomy in terms of management, making sure they can unlock their full potential.”

Analysts say that in Europe, at least, commercial vans can have double-digit margins, similar to those of a well-equipped SUV, because the technology lasts longer than passenger cars and they are more simple to assemble.

The business is highly competitive, with a changing array of production and technology alliances. In the latest combination, Ford will develop and build commercial vans and the next-generation Amarok pickup for the VW Group.

Stellantis was the market leader last year in Europe, where it held a 34% market share, and in South America, where it held a 31% market share. In 2020, the combined sales of minivans from the PSA Group and Fiat Chrysler more than doubled those of their nearest competitor, Ford.

Stellantis has also pioneered alternative energy powertrains for vans, with all-electric options for its compact, medium and large vans in Europe. Mid-size pickup trucks from Citroën, Peugeot and Opel are even available with hydrogen fuel cell powertrains, working with partners such as suppliers Faurecia and Symbio, a joint venture of Faurecia and tire maker Michelin.

The van business was an important lever in bringing Opel/Vauxhall back to sustainable profits soon after the PSA Group bought the brand from GM in 2017. Tavares moved Opel’s vans to PSA platforms, added a compact van to Opel’s lineup and ensured that mid-size vans would be built. at Vauxhall’s beleaguered Luton plant.

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Car rental giants go electric after pandemic bonanza https://cheapautoinsuronline.com/car-rental-giants-go-electric-after-pandemic-bonanza/ Wed, 09 Mar 2022 06:05:32 +0000 https://cheapautoinsuronline.com/car-rental-giants-go-electric-after-pandemic-bonanza/ Breadcrumb Links PMN Company Author of the article: Publication date : March 09, 2022 • 10 minutes ago • 4 minute read • Join the conversation Content of the article Western $100 billion car rental industry, awash in cash thanks to profitable pandemic, is gradually launching its electric show on the road, and Chinese-made vehicles […]]]>

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Western $100 billion car rental industry, awash in cash thanks to profitable pandemic, is gradually launching its electric show on the road, and Chinese-made vehicles are set to play a leading role.

The electric transition could see car fleets, long dominated by famous brands from the United States and Europe, increasingly turn to Asian automakers, according to a European executive.

“Historically, European and American manufacturers had an advantage, but the transition to electric is reshuffling the cards,” said Olivier Baldassari, group country director and chief operating officer at rental giant Europcar.

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He said electric cars from Chinese and Asian manufacturers were comparable to Western models in terms of quality, citing Great Wall Motor’s Ora range, but generally cost less.

Even small savings matter in the vast rental industry, which buys millions of new cars a year – one-tenth of all new cars in the United States alone – and provides a leading indicator of broader automotive trends in society. .

Companies in the sector have long resisted the rush to electrification due to low demand for electric vehicles (EVs) among customers worried about being stranded without power.

Still, several analysts said now was the best time to start as companies bolstered their coffers with windfall profits during a pandemic that has emptied public transport and airports, and led to more remote vacations. driving.

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In the United States, car rental companies received record monthly revenue of $1,320 per vehicle in 2021, according to the American Car Rental Association. That compares to around $1,000 before the pandemic.

“In the past, companies have kind of stuck their heads in the sand,” Nick Mountfield, associate partner at OC&C Strategy Consultants, which advises car rental companies, said of electrification. “We are now starting to see people saying they will have to do something and put plans in place.”

US rental fleet graph: https://tmsnrt.rs/34PGDVK

US Rental Car Revenue Chart: https://tmsnrt.rs/3JHCORx

WATCH YOUR SPEED

Hertz was an early mover last October when it announced a planned purchase of 100,000 vehicles from American pioneer Tesla, increasing pressure on rivals to set out transition plans.

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French company Europcar, meanwhile, has pledged to make 20% of its fleet electric or hybrid low-emission by 2024, up from 3% currently, meaning it will have to buy up to 70,000 vehicles. cleaner in the next two years if it restocks its fleet to the 350,000 vehicles it had before the pandemic.

Rental companies sold their fleets as demand slumped at the start of the pandemic and struggled to regain volumes amid a global shortage of semiconductors that hampered vehicle production.

Baldassari said Europcar was increasingly sourcing electric vehicles from Great Wall Motors, SAIC Motor and Polestar, which is owned by China’s Geely and Volvo Cars, although it also buys from traditional partners including Renault and Stellantis.

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The company’s China strategy, however, could change if German automaker Volkswagen AG manages to close its bid for the company in the second quarter.

Industry players operate at different speeds, each making their own calculations based on their markets.

In the United States, where many customers prefer SUV and pickup models that have yet to be electrified and where public charging infrastructure lags behind much of Asia and Europe, Enterprise Holdings is taking a more cautious tone.

Electrifying just a quarter of Enterprise’s fleet at Orlando Airport – its largest consumer rental site – would require the same amount of daily electricity as is needed to power more than 1,000 homes, said Chris Haffenreffer, Assistant Vice President of Enterprise Innovation.

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Haffenreffer said the group currently has several thousand electric vehicles in North America, including from Tesla, Nissan, Hyundai, Kia and Polestar. Although the company said it has conversations with all global automakers, it has no immediate plans to increase that share.

“At a high level, we want to let our consumers guide us in terms of what they’re looking for,” he added. “Many car rental companies have historically taken this wait-and-see approach as we are still in the early stages of the transition.”

Graph on US industrial vehicle purchases: https://tmsnrt.rs/3gXAVnj

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The varying pace of change and the timing of extensive fleet overhauls mean gasoline-powered vehicles are likely to remain the bulk of purchases for a few years to come. The transition plans of global automakers as a whole would see electric vehicles accounting for at least 40% of their sales by 2040.

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Yet ultimately, the change could prove far-reaching for the fortunes of Chinese automakers in Europe, a crowded and competitive car market dominated by legendary brands that has proven elusive for them in the past.

In years past, they faced a perception that China, coupled with cheap mass production, couldn’t compete on quality. Yet those arguments are being challenged in a new reality that sees major Western automakers like BMW and Tesla now producing cars in the country, which is a tech powerhouse and the world’s biggest car market.

Great Wall Motor, one of Europcar’s suppliers, is expected to launch its Ora Cat compact electric car in Europe this year priced at around 20,000 euros ($22,260) with a range of around 250 miles (400 km) , joining a growing number of Chinese electric vehicles. makers are trying their luck on the continent.

Chinese manufacturers using the rental channel to establish brand awareness and increase sales volumes would follow a playbook Kia and Hyundai used in the 1990s to gain a foothold in Western markets, Mountfield said at OC&C Strategy.

(Reporting by Tina Bellon in Austin, Texas; Editing by Pravin Char)

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The first 100 days of Adam Chamberlain’s Aston Martin were spent with dealers, customers https://cheapautoinsuronline.com/the-first-100-days-of-adam-chamberlains-aston-martin-were-spent-with-dealers-customers/ Sat, 05 Mar 2022 05:00:00 +0000 https://cheapautoinsuronline.com/the-first-100-days-of-adam-chamberlains-aston-martin-were-spent-with-dealers-customers/ Adam Chamberlain, Aston Martin’s new president for the Americas, hasn’t been seen much in the office since joining the British luxury carmaker just over 100 days ago. Chamberlain, 48, left his job in November at Mercedes-Benz USA, where he was vice president of sales and product management and joined Aston Martin, filling the role vacated […]]]>

Adam Chamberlain, Aston Martin’s new president for the Americas, hasn’t been seen much in the office since joining the British luxury carmaker just over 100 days ago.

Chamberlain, 48, left his job in November at Mercedes-Benz USA, where he was vice president of sales and product management and joined Aston Martin, filling the role vacated by Laura Schwab at the end of 2020. He was in South Florida on Friday to visit the home of one of the company’s most important customers and meet with dealers.

Chamberlain, driving a Vantage in the Miami area, pulled over and spoke for a few minutes with editor Richard Truett. Here are edited excerpts.

Q: It’s not often that the president of a car manufacturer visits his customers. How often do you do this?

A: I went to a few customers and saw some great cars. If clients wish to meet me, I am happy to meet them. It’s a privilege to do this. It stems from the fact that I’ve been a car guy, a car fan, forever. Customers who buy the special editions tend to have collections. When dealing with an ultra-luxury brand with an ultra-wealthy clientele, it must be said that they have as much right to call me and ask me to come and see them as a dealer. I really see it that way.

Tell us about your first 100 days.

It’s been about 105 days, and in that time I’ve visited about 24 dealerships, some a few times. Dealers are ultimately our customers. Nothing happens without them. I wanted to go out there and get a good understanding and representation of the dealer partners that we have. I spent a lot of time with our team to understand and rebuild relationships. You watch, you observe, and you try not to ask too many stupid questions.

What are your priorities for the Americas?

We’ve come up with a five-point plan, still evolving and not quite there yet. But it’s just about being focused and clear about what we need to do. It has five pillars.

The first concerns the brand. Most people love the brand, they remember James Bond and racing cars. We are admired. There is a lot of passion for the brand. But what we don’t always do is shoulder the sale. We need consumers to understand our ultra-luxury positioning and our products.

Next, we need to focus on people and processes. We have a great little team. We’re increasing the size of the team by about a third. A team that is still very small in comparison, but we need a little more expertise in the area of ​​marketing and dealer support.

The third pillar is that of products. Within the next 18 months we will have exciting new products, a new range of cars. Our job is to make sure the products are good, compelling for the region and people know about them.

Next comes the location. We want to ensure that we provide a contemporary luxury experience. We invest in staff and training to ensure consistency.

Finally, there is performance. We have potential in the region, with the right product platform, the right communication, the right people and processes and committed resellers. We can grow sustainably and prudently.

Do your five pillars address all unmet dealer needs?

With respect, that’s an impossible question! A reseller will always find a need that you did not know! The dealer wants product and communication; they want to be heard. And they want a dialogue. I have already met twice with our Dealer Advisory Committee and we have had candid discussions. We are [heading] in the right direction.

Aston is synonymous with exclusivity, but the company must also make a profit to fund future product development. What is a good volume for the Americas that achieves both goals?

The definition of exclusivity has changed over time. We are talking about 10,000 units sustainably by 2025; the Americas would be about a third of that. It is a very durable volume.

What was the biggest surprise of your dealership tour?

The genuine love and passion for the brand, the hope that we can turn this opportunity we have for this brand into reality. This company is so product driven. It’s front and center.

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ADT Extends Connected Security to Mobile https://cheapautoinsuronline.com/adt-extends-connected-security-to-mobile/ Fri, 04 Mar 2022 20:39:50 +0000 https://cheapautoinsuronline.com/adt-extends-connected-security-to-mobile/ As consumers have grown accustomed to using their mobile phones to order services and receive updates on the information they want to monitor, the security industry is looking to meet their expectations. For example, ADT has worked to expand its subscription-based security services beyond the home and into automotive and cellphone-based security initiatives. During his […]]]>

As consumers have grown accustomed to using their mobile phones to order services and receive updates on the information they want to monitor, the security industry is looking to meet their expectations.

For example, ADT has worked to expand its subscription-based security services beyond the home and into automotive and cellphone-based security initiatives.

During his investor day event held Tuesday, March 1, ADT executives outlined several ways the company has reshaped and strengthened its portfolio. Among the most recent initiatives are automotive and mobile.

“As we develop our longer-term vision, we look beyond the home, and it’s important for us to talk about extending the protection and security of people – wherever they are” , Leah Page, vice president, emerging and mobile business at ADT, said at the event.

Ensuring personal safety through mobile phones

To ensure the personal security of people on the move, ADT offers its SoSecure mobile application. This allows customers to call ADT for help in a number of ways – by swiping a button, via SMS, video chat or hands-free with a passcode word.

Once activated, SoSecure discreetly connects users with trained ADT monitoring security professionals who can assess the situation and notify 911 of the user’s location and profile details to help first responders find them further. quickly.

“We consider situations like running at night, being alone in a parking lot, walking on campus, or being the last worker left at your job, and how having an ADT agent keep in touch with you or check on you can make a difference. difference,” says Page.

She noted that the service can help reduce false alarms to 911, allay caller concerns that 911 won’t take them seriously, and transmit data such as the caller’s location more efficiently. calling 911.

Integration with apps from partner companies

This service can also be integrated into the applications of partner companies. For example, the personal safety feature built into the Lyft app connects Lyft riders and drivers to an ADT monitoring professional.

Page said the mobile phone-based service is adapting to the new ways people live their lives, noting that just a few years ago it was much less common to use apps for ridesharing, delivery groceries and dating. Today, these services and the gig economy are much more accessible.

“But in addition to convenience, access to these new services has also created new social interactions and, within that, new security needs,” Page said. “As ADT seeks to protect a wide range of consumers, participation in these new social interactions is a necessity.”

Monitoring of vehicles and the cargo they carry

To expand its vehicle services, ADT announced a joint venture with Ford in January. By co-investing in Canopy, they will combine ADT’s professional security monitoring with Ford’s artificial intelligence (AI)-driven camera technology to protect vehicles and the cargo they carry.

Read more: AI-powered, connected and monitored service will keep the vehicle safe

The solution will aim to serve both businesses and individual owners.

“We know that vehicles are the second largest asset class for Americans’ purchasing power, and protecting their vehicle and the assets it contains presents a real need for a professional monitoring service,” said Page.

An alternative is expected to hit the market early next year, and it will work for new and existing vehicles of all car brands. The Canopy solution will also be integrated into new Ford and Lincoln vehicles.

“We have identified the trend in automotive and are addressing the needs of this industry as it moves from single vehicle sales to recurring revenue streams with safety at the forefront of these subscription-based models” , said Page. “And as we consider ways to gain share of wallet and bundles, automotive seems like a natural extension.”

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NEW PYMNTS DATA: ACCOUNT OPENING AND LOAN SERVICE IN THE DIGITAL ENVIRONMENT

On: Forty-two percent of US consumers are more likely to open accounts with financial institutions that facilitate automatic sharing of their bank details upon sign-up. The PYMNTS study Account opening and loan management in the digital environmentsurveyed 2,300 consumers to explore how FIs can leverage open banking to engage customers and create a better account opening experience.

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US Bank and Payactiv Unveil New Earned Wages Access Solution for Employers | national company https://cheapautoinsuronline.com/us-bank-and-payactiv-unveil-new-earned-wages-access-solution-for-employers-national-company/ Wed, 16 Feb 2022 14:02:14 +0000 https://cheapautoinsuronline.com/us-bank-and-payactiv-unveil-new-earned-wages-access-solution-for-employers-national-company/ MINNEAPOLIS–(BUSINESS WIRE)–February 16, 2022– US Bank today announced a new solution with Payactiv to bring Earned Wage Access (EWA) to US Bank customers. Employees of organizations that use the US Bank Focus Prepaid Card for payroll disbursements can access a portion of their earned wages on demand through immediate direct deposit to their US Bank […]]]>

MINNEAPOLIS–(BUSINESS WIRE)–February 16, 2022–

US Bank today announced a new solution with Payactiv to bring Earned Wage Access (EWA) to US Bank customers.

Employees of organizations that use the US Bank Focus Prepaid Card for payroll disbursements can access a portion of their earned wages on demand through immediate direct deposit to their US Bank Focus Card. The collaboration includes other payment options, including an instant deposit to an employee’s checking account via Real-Time Payments (RTP). The solution will also provide access to other financial wellness services, including savings and bill management tools.

With more than 90% of employees – according to a 2019 study – interested in working for a company that offers EWA, offering employees pay-as-you-go is a significant benefit for employers that can both increase applications and reduce employee turnover while helping to improve the lives of their employees. US Bank is one of the first major financial institutions to partner with an EWA provider to offer an EWA payroll card solution to employers and employees.

“The future of payments is where businesses may soon say goodbye to traditional bi-weekly payroll,” said Shailesh Kotwal, vice president, US Bank Payment Services. “Employers recognize that providing employees with on-demand access to earned wages improves employee satisfaction and recruitment efforts. We pride ourselves on being at the forefront, developing a solution that helps our corporate clients offer additional convenient payroll options for their employees.

“Payactiv invented Earned Wage Access to free the American worker from the two-week payroll cycle,” said Safwan Shah, CEO of Payactiv. “We provide quick access to cash – so a single mother can pay for daycare between paychecks and a healthcare worker can cover an unexpected car expense. American companies succeed when their employees feel in control and can thrive. US Bank is at the forefront of innovation and puts people first.

The RTP EWA disbursement option created by US Bank avoids up to two business days of delay compared to a traditional ACH transfer. The US Bank Focus Card payroll deposit option is also virtually instantaneous.

US Bank is leading the way in enabling consumers and businesses to send and receive real-time payments (RTP) instantly 24 hours a day, 365 days a year via the RTP® network. The first new payment rail in the United States in over 40 years, the RTP® network was launched in 2017 when US Bank participated in the first-ever payment on the network. US Bank is now one of the main senders of RTP in the United States. The bank is continually developing new ways for businesses and consumers to use RTP, such as a new payment request solution for billers.

About US Bank

US Bancorp, with nearly 70,000 employees and $573 billion in assets as of December 31, 2021, is the parent company of the US Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diverse array of businesses: personal and business banking; payment services; Business and corporate banking services; and wealth management and investment services. The company has been recognized for its approach to digital innovation, social responsibility and customer service, including being named one of the 2021 World’s Most Ethical Companies and Fortune’s Most Admired Superregional Bank. Learn more at usbank.com/about.

About Payactiv

Payactiv, a public benefit and certified B Corp, is a holistic financial wellness platform that provides employees with on-demand access to earned but unpaid wages. Businesses that partner with Payactiv see significant cost reductions through increased recruitment, engagement and retention. Employees love Payactiv because it eliminates costly fees between payday loan paychecks, bank overdrafts, and late fees. Payactiv offers a suite of financial services that includes savings and budgeting tools, bill payment, and financial health measurement. Payactiv is the winner of the American Business Awards Company of the Year Award for Financial Services, the Innovative Payments Association’s Consumer Champion Award, a Finovate Winner and Finalist, and the recipient of numerous premier awards. in the FinTech and HRTech fields. Visit www.payactiv.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220216005393/en/

CONTACT: Todd Deutsch, US Bank Public Affairs and Communications

[email protected]| 612.303.4148

KEYWORD: UNITED STATES NORTH AMERICA MINNESOTA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY FINANCE SOFTWARE BANKING

SOURCE: US Bank

Copyright BusinessWire 2022.

PUBLISHED: 02/16/2022 09:00/DISC: 02/16/2022 09:02

http://www.businesswire.com/news/home/20220216005393/en

Copyright BusinessWire 2022.

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CBT Automotive Journal: February 16, 2022 https://cheapautoinsuronline.com/cbt-automotive-journal-february-16-2022/ Wed, 16 Feb 2022 09:59:31 +0000 https://cheapautoinsuronline.com/cbt-automotive-journal-february-16-2022/ Inside the car: The Simple Truths About Leadership and How to Practice Them with Ken Blanchard and Randy ConleyThroughout the hustle and bustle of leading an organization, the fundamentals of leadership can often be pushed into the background or, in some cases, completely forgotten. Today’s guests say it’s totally okay to go back to basics. […]]]>

Inside the car:

The Simple Truths About Leadership and How to Practice Them with Ken Blanchard and Randy Conley
Throughout the hustle and bustle of leading an organization, the fundamentals of leadership can often be pushed into the background or, in some cases, completely forgotten. Today’s guests say it’s totally okay to go back to basics. Today on Inside Automotive, we are pleased to welcome the co-authors of “The Simple Truths of Leadership: 52 Ways to Be a Servant Leader and Build Trust», Ken Blanchard and Randy Conley. Watch the full segment here.

Securities:

car manufacturers are express extreme dissatisfaction with dealers charging customers far more than manufacturers’ suggested retail prices. According to Edmunds, more than 80% of car buyers in the United States paid a price above MSRP last month, which is exceptionally higher at around 3% in January 2021. So far, Ford and General Motors have expressed the most public opposition, with each automaker issuing warnings to dealers about the practices and threatening to reallocate new inventory to other dealerships. Despite the ongoing controversy, automakers remain committed to finding ways to work with dealerships to facilitate sales of new electric and hybrid vehicles as well as manage the shift to the direct-to-consumer model.

General Motors said Monday that it would be increase your climate equity fund to $50 million, double its initial investment. GM executive Kristen Siemen said the increased investment will increase inclusion and involve the community more in efforts to eliminate emissions. The automaker is also continuing to support various nonprofits to further facilitate its goals of creating “clean energy jobs,” “sustainable transportation,” and “community climate action.” GM also has a separate $35 billion fund earmarked for research and development of electric vehicles and charging solutions.

According to a recent Securities and Exchange Commission filing, Tesla CEO Elon Musk donated over five million Tesla shares to charity in November. Although the name of the charity was not disclosed, it was worth more than $5.7 billion and the shares were donated at the same time as Musk said he would sell for more than $16 billion. shares after Twitter users said so. Musk has continually come under scrutiny when it comes to his taxes, and analysts say the recent donation could give him tax advantages, as donations are potentially subject to lower taxes. The recent donation is not his first, as he has continuously donated billions of dollars in grants to various causes.

According to a filing with the Securities and Exchange Commission, Sonic Automotive made some changes to its board of directors and increased compensation for four executives, and setting new standards for their bonuses. At the 2022 annual meeting of shareholders, Victor Dolan and Robert Heller announced they would not be seeking re-election, while Speedway Motorsports executive Michael Hodge was named a new member of the board. The SEC filing also indicates that its executive chairman, CEO, chief financial officer and chairman will receive 20% salary increases and that their bonuses going forward will depend on adjusted earnings per share and overall customer satisfaction. . Sonic Automotive is set to release its results today.

Celebrating Black History Month:

This February, in honor of Black History Month, we want to celebrate and recognize the past, present and future accomplishments of Black automotive retail professionals. Today we would like to highlight Edward Welburn, former vice president of global design for GM.

After being amazed by a Cadillac he saw at the Philadelphia Auto Show when he was 11, Welburn wrote to General Motors asking him to become a car designer. Later, General Motors gave Welburn an internship and he spent 44 years with the automaker, including 13 as GM’s vice president of global design. Welburn oversaw the development of iconic cars like the Corvette, Camaro and Escalade.

News and Notices:

What motivates her
Chicago Auto Show image via Facebook

Automotive professionals rewarded at the What Drives Her Awards
The fifth annual What Drives Her program took place on February 11 as part of the Chicago Auto Show media preview. Every year, female powerhouses in the automotive industry come together to recognize top successes and share tips and personal stories. This includes women retailers, suppliers, manufacturers and media moguls across the United States who continue to succeed in the automotive industry. The What Drives Her program is just one of many resources for women in the industry, which includes all women, from auto buyers to automotive executives. Read more

blockade
Image by Jason Redmond/AFP/Getty Images

As border blockade ends, automakers have some catching up to do
The Ambassador Bridge runs again between the United States and Canada after a the week-long blockade has been lifted by Windsor Police. However, the days when the corridor has been obstructed by protesters has created another economic hurdle that the auto industry will have to overcome. Auto industry shutdowns and idle lines are estimated to cost about $300 million in losses, according to Anderson Economic Group which analyzed the effects. Of the losses, nearly $150 million relate to lost wages alone, suffered by assembly plant workers when their shifts were cancelled. Michigan autoworkers were the hardest hit, accounting for more than a third (estimated at $51.26 million) of lost wages. Rread mohD


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EV Connect expands one-stop charging program – Green Fleet https://cheapautoinsuronline.com/ev-connect-expands-one-stop-charging-program-green-fleet/ Wed, 16 Feb 2022 01:03:17 +0000 https://cheapautoinsuronline.com/ev-connect-expands-one-stop-charging-program-green-fleet/ With minimal risk and removing capital expenditure, an EVCaaS subscription includes turnkey EV charging solutions, including charging stations, management software, 24/7 driver support, as well as professional field maintenance for ongoing maintenance and repair. Photo: EV Connect EV connection announced on February 15 the expansion of its EV Charging-as-a-Service (EVCaaS) program. Investor […]]]>

With minimal risk and removing capital expenditure, an EVCaaS subscription includes turnkey EV charging solutions, including charging stations, management software, 24/7 driver support, as well as professional field maintenance for ongoing maintenance and repair.

Photo: EV Connect


EV connection announced on February 15 the expansion of its EV Charging-as-a-Service (EVCaaS) program.

Investor Backed Mitsui & Co.,Ltd. (Mitsui), the program creates a one-stop-shop for electric vehicle charging by combining hardware, software and service offerings with flexible payments for EV Connect customers. Customers can leverage the EVCaaS program to add EV charging with flexible, low-risk options and small monthly expenses while accessing the support and reliability of the EV Connect network.

With $7.5 billion Allocated to a nationwide network of electric vehicle (EV) chargers through the Infrastructure Investment and Jobs Act, EV charging in the United States is poised for rapid growth. This will help EV Connect focus on providing seamless and accessible EV charging.

The EVCaaS program removes the burden of charging host ownership and maintenance. Enterprise customers such as Dell, Inc. Leverage this plan to reduce initial charge point deployment costs with a comprehensive model based on OPEX and a simple approach to charge point management and driver support.

“To meet the global demand for electric transportation, the ability to deploy and manage electric vehicle charging must be both simple and accessible, for everyone,” said Yosuke Matsumoto, general manager of the new downstream division of Mitsui, in a press release. “This pilot program will scale and allow others to develop new business models to solve the challenges facing electric vehicle infrastructure.”

With minimal risk and removing capital expenditure, an EVCaaS subscription includes turnkey EV charging solutions, including charging stations, management software, 24/7 driver support, as well as professional field maintenance for ongoing maintenance and repair. Through EV Connect Shield Program, EVCaaS customers are familiar with all critical operational and maintenance aspects of the charging station, including station hardware, software and networking, as well as technical field services such as provisioning and replacement of parts. All are centrally managed. Additionally, EVCaaS customers receive expert guidance through every phase of the EV supply equipment lifecycle, from site planning to deployment, operations and management.

“With the EVCaaS program, we are providing a cost-effective, low-risk approach to electric vehicle charging that ensures greater accessibility to electric vehicle charging in many more locations,” said Paul Terry, senior vice president. sales and business development at EV Connect. “The program delivers on our commitment to provide electric vehicle drivers with reliable charging through the EV Connect network.”

EVCaaS is available nationwide for multi-family properties, small and medium business, and municipal customers, as well as reseller partners looking to deploy charging equipment from EV Connect’s Gold Partners, BTC, EvoCharge, ABB, and PowerCharge. Information: EV Connect website.

Originally posted on loaded fleet

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GM aims to expand dealer CPO share with CarBravo https://cheapautoinsuronline.com/gm-aims-to-expand-dealer-cpo-share-with-carbravo/ Sun, 13 Feb 2022 05:00:01 +0000 https://cheapautoinsuronline.com/gm-aims-to-expand-dealer-cpo-share-with-carbravo/ General Motors’ new CarBravo platform allows dealers to sell Certified Pre-Owned vehicles of any brand online, but it also replaces GM’s traditional Certified Pre-Owned program for stores that choose to use it. Other automakers are likely to follow the strategy, an expert says. “It makes sense,” said Jonathan Banks, vice president of vehicle ratings at […]]]>

General Motors’ new CarBravo platform allows dealers to sell Certified Pre-Owned vehicles of any brand online, but it also replaces GM’s traditional Certified Pre-Owned program for stores that choose to use it. Other automakers are likely to follow the strategy, an expert says.

“It makes sense,” said Jonathan Banks, vice president of vehicle ratings at JD Power. “We’ve talked about how OEMs can partner with dealers to optimize the used vehicle experience? Is that a good way to do that without impinging on dealers’ ability to run their business the way they want to? wish.”

CPO sales are only a fraction of the used vehicle market of 40 million units. Dealerships sold about 2.75 million CPO vehicles last year, up about 5% from 2020 and down about 2% from 2019, according to JD Power. But 16% of all used vehicles sold through franchised dealerships were CPOs. With CarBravo, GM aims to expand its share of CPO for Chevrolet, Buick and GMC by allowing consumers to view dealership inventory beyond their region and expanding to non-GM brands and company-owned vehicles. business.

“This should increase sales of certified vehicles because CarBravo’s scale is much larger than what the dealership traditionally would have,” Banks said. “Certified vehicles do better than non-certified vehicles on both days at the turn [and] of gross profit. Getting all your vehicles certified and having this platform to distribute them should be a boon for certification as a whole.”

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Used car sales could boom this spring https://cheapautoinsuronline.com/used-car-sales-could-boom-this-spring/ Fri, 11 Feb 2022 17:16:50 +0000 https://cheapautoinsuronline.com/used-car-sales-could-boom-this-spring/ Over the past two years, consumers have begun to arrive at dealerships knowing exactly what type of vehicle they want, and not just out of boredom or curiosity, said Tom Castriota, owner of Castriota Chevrolet in Hudson, Fla. He expects this to continue. spring. “They say, ‘I need an SUV that can carry six people,’ […]]]>

Over the past two years, consumers have begun to arrive at dealerships knowing exactly what type of vehicle they want, and not just out of boredom or curiosity, said Tom Castriota, owner of Castriota Chevrolet in Hudson, Fla. He expects this to continue. spring.

“They say, ‘I need an SUV that can carry six people,’ or ‘I need a truck that can tow X pounds,'” Castriota said. “We just don’t see the person come in and say, ‘Oh, show me what you got in a used van. “

As consumers begin to spend their tax refunds on used vehicles, dealer days’ supply could potentially shrink, said Dale Pollak, executive vice president of Cox Automotive.

Castriota said his store’s supply may not dwindle quickly in the spring because his dealership caters to a community of mostly retirees. But when General Motors’ production of new vehicles increases, it will help boost trade at its store and put used models back in the pipeline, he said.

Binder said he doesn’t expect a major drop in the day supply of used vehicles at Len Stoler Automotive Group this spring.

“We’re obviously very lean on the new car side with daytime supply,” Binder said. “On the used car side, we’re preparing for it. We’re planning. We’re buying cars now.”

Dillard, of Team Auto Group, said his group would continue to obtain inventory from a variety of sources – auction sites, drive-thru, customer databases and off-street. It “totally” expects wholesale prices for used vehicles to remain high.

Team Auto Group’s marketing will remain entirely digital and data-driven in the coming months, Dillard said. The group is only looking for buyers they know in the market to buy a vehicle.

“We still want to be incredibly manufacturer-friendly,” she said, “but there’s just no need to advertise new cars as much now, so we’re putting more emphasis on our new cars. opportunity until inventory improves.”

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