#513 - ⚔️ Stay Sharp

TOGETHER WITH

It’s hard to believe it went by so quickly, but today is our last day at ASOTU CON. 😢

We could not be more grateful for all who participated and pitched in to make the event truly unforgettable. From the bottom of our hearts, THANK YOU.

If you’re in Baltimore, join us this morning for coffee and farewell hugs. It’s not goodbye, only till next time.

Keep Pushing Back

-Paul, Kyle, Chris & Kristi

TODAY’S LOT WALK

• MTCM: Rafferty Subaru is committed to their local kiddos in need. 👶

• DATA & INSIGHTS: Keeping the sales team sharp. ⚔️

• BUSINESS: The UAW strike lingers on, Lucid opens its first international plant, and BYD America expands into EVs. ⚡️

• CULTURE: Musk teases a scratch-resistant coating for the Cybertruck. 💎

Reading time: 4 min 29 secs

MORE THAN CARS MOMENTS

Giving Back and Driving Change

In the heart of Newtown Square, Pennsylvania, Rafferty Subaru is proving that they aren’t just a car dealership; they’re a beacon of community compassion. Vice President Bob Rafferty's commitment to local causes shines brightly through the generous funds given during their annual Subaru Share the Love event. Over nine years, they've donated over $100,000 to Partners in Outreach, a nonprofit dedicated solely to improving the lives of underprivileged children in the community.

Rafferty Subaru's unwavering support and dedication to local initiatives recently earned them the prestigious 2023 Subaru Love Promise Customer and Community Commitment Award. They're more than car sellers; they're changemakers, exemplifying the incredible impact a business can have when it truly cares about its community.

/Positivity

We love sharing the stories of dealers partnering with their communities. If you have a story like that, send it our way! 🕊️

DATA & INSIGHT

Sharpening Those Sales Skills

In the ever-changing world of automotive, the sales department remains the cornerstone of dealership success. To thrive in this environment, salespeople must continuously update their skills and adapt to industry shifts and customer preferences. Here are three specific areas crucial for success:

🧠 Product Knowledge

• Understand the latest vehicle models and technological advancements.

• Equip salespeople with in-depth product knowledge to confidently address customer inquiries.

❣️ Customer Service

• Prioritize a positive customer experience to foster repeat business and attract new clients.

• Train salespeople in active listening and empathy.

• Adapt communication to meet each customer's unique needs and preferences.

🤑 Sales Techniques

• Develop a well-rounded sales team proficient in various sales methods.

• Equip salespeople with skills in consultative selling, negotiation, and upselling.

• Ensure readiness to close deals and build enduring customer relationships.

🛠️ Developing Your Team's Strengths —

👬 One-on-One Impact

• Dedicate time to connect with team members individually.

• Practice intentional listening and offer constructive feedback.

• Use one-on-one sessions to uncover challenges and provide guidance.

🤸‍♂️ Flexibility in Job Roles

• Be open to moving team members to roles where their strengths shine.

• Prioritize job satisfaction by aligning employees with positions that suit them best.

• Create a supportive work environment that encourages growth.

TOGETHER WITH UPSTART

Partner For Success

We love sharing dealer success stories. Like Buckeye Honda claiming 76% growth in their lead-to-close rate or J. Bertolet Volkswagen increasing profits with a 400% increase in PVR.

But of course, these things don't happen by chance. They take hard work, insight, and the sort of partners who share your vision.

Like our friends at Upstart Auto Retail.

The above success stories are from a recent newsletter by Upstart's VP/GM Auto, Alex Rouse.

He and the Upstart team are making car-buying more intuitive, transparent, and efficient for buyers.

Know any buyers who may appreciate something like that? 😉

BUSINESS

Update: UAW vs. Big 3

The President Visited. President Joe Biden joined Michigan autoworkers on strike, endorsing their 40% pay raise demand. His appearance, a historic show of solidarity, comes ahead of Donald Trump's planned address to Michigan auto workers, highlighting the vital role of union support in the 2024 elections. 🦅

Another Looming Deadline. The UAW may expand strikes at Detroit Three facilities if labor negotiations stall. With around 18,300 members already striking, more could join if UAW President Shawn Fain announces further walkouts on Friday. 🗓

Different Union, Different Song. The Teamsters union has urged US regulators to deny GM's request for a safety exemption for its autonomous Cruise Origin vehicle. GM wants to deploy vehicles annually without typical human controls. 🤖

Lucid’s First International Plant

Lucid opened its first international plant in Saudi Arabia. The California-based EV company will re-assemble vehicle kits from the US in the new plant. The Saudi government and the Public Investment Fund support Lucid's plan to expand production by mid-decade. The nation targets 30% EV sales by 2030.

So, the US will send EVs to Saudi Arabia while Saudi Arabia sends the US oil? It's like the Gift of the Magi in some way we can't quite articulate.

BYD Feels Good About America

BYD America CEO, Stella Li, highlights BYD's unique advantage as it expands overseas: affordable yet high-tech EVs. Originating as a battery company, BYD now produces most car components in-house, expediting innovation and reducing production times to 18 months for new models. Li emphasized their success in China, the "toughest market."

CULTURE

Scratch-Proof Shield for the Cybertruck

Elon Musk is back with another hare-brained idea, and this time, it involves his highly-anticipated Tesla Cybertruck. In classic Musk fashion, he made the suggestion in regard to a fan's comment on X and implied that Tesla may offer a "scratch-proof" coating for the tiny tank.

Of course, Musk isn’t just talking about some fancy car wax. He’s talking about an optional tungsten carbide coating which would be virtually impervious to anything except diamond-level hardness. So, if you were planning to key a Cybertruck, you may want to rethink before you damage your key.

Tesla has already boasted about the Cybertruck's durability, with its "nearly impenetrable exoskeleton" and ultra-hard stainless-steel skin, but it seems Elon just can’t help himself from taking it up a notch. Whether this scratch-proof upgrade becomes a reality remains to be seen, but knowing Elon Musk, anything is possible.

Quick Hits

• Target says they will be closing nine stores in four states due to rampant theft. 🎯

• Mortgage demand is waning as interest rates hit the highest level in nearly 23 years. 📈

• Seventeen states and the FTC are suing Amazon on antitrust charges. 🧑‍⚖️

History

• 1928: The first recording session occurs in Nashville with The Gully Jumpers. 🎙️

• 1955: The first World Series is broadcast in color on NBC (Yankees v Dodgers). ⚾️

• 1956: The "Johnny Carson Show" last airs on CBS. 📺