🚗 Used Prices Dip

🚙 Downward Trends, CDK Settles, and Women in Retail Auto

TOGETHER WITH

Thanks for starting your Thursday with us, Friend!

We take seriously what we put in this email. Because “you are what you eat” is real deal. It is true when your body turns apples and pasta into muscles and movement, and it is true when your mind and heart turn what you read and listen to into thoughts and vibes.

Being human is weird like that, and we dig it!

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

Was this email forwarded to you? Subscribe here!
Reading time: 3 mins

Today's Email

🎭 Drama w/ Used Cars, Import Challenges, and Industry Woes

giphy

💲 Used car prices are finally on a downward trend, decreasing by 4.7% in 2024, with the average price now at $32,672. This shift is a positive development for dealerships, as buyers also benefit from lower mileage options, averaging just 39,109 miles.

🏦 However, the Thai auto industry is facing significant challenges, with rising household debt and a 20.6% production decline leading to job losses. This crisis may impact the global supply chain.

✋ Additionally, a proposed U.S. rule could force GM and Ford to halt imports from China due to security concerns, affecting models like the Buick Envision and Lincoln Nautilus. If implemented, this could create inventory gaps for dealerships.

Stay informed about these developments and more in our full digest! (4 min 20 sec)

 🧭 Keep The Ship on Course

In partnership with Wikimotive, ASOTU invites our auto dealer community to a vital 30-minute session designed to elevate your dealership’s success. Join Paul J Daly and Kyle Mountsier, along with industry leaders Zach Billings and Billy Goulette, as they explore the critical connection between effective marketing and streamlined store processes.

Learn:

  • Synchronize Success: Discover why aligning your marketing efforts with store operations is key to sustained growth.

  • Leverage SEO: Understand how SEO can become the cornerstone of your marketing strategy.

  • Strategic Partnerships: See how the right marketing collaborations can drive real results.

Don’t miss this opportunity to position your dealership among the top 20% capturing 40% of projected market growth by 2025!

⚖️ CDK Settles: Are You Eligible for a Payout?

giphy / HBO

If your dealership used CDK or Reynolds DMS services between 2013 and 2024, you might be eligible for part of a $100M settlement in a class-action lawsuit. Dealerships are suing over claims that these companies overcharged for DMS services, and now payouts are on the horizon.

Curious if you qualify or how to claim? The deadline is fast approaching, so make sure you're prepared.

For all the details on eligibility and filing, read the full article here.

AROUND THE ASOTUVERSE

🗓️ Coming Soon

🤠 November 5-8th — Opening presenters at the 2024 ATAE PR & Communications Focus Group Meeting in Austin, Texas.

⚜️ January 23-26th, 2025 — NADA Show in New Orleans.

🦀 May 13-16th, 2025 — ASOTU CON in Baltimore, Maryland.

🎧 In The Dirt w/ Nely Galan

She knows we can reach women in auto retail in new ways.

Nely Galan shares and inspires other women with the opportunities in front of them to help move the entire industry forward in new ways.

Paul J Daly and Nely Galan caught up after her keynote at the Women of Color Automotive Network (WOCAN) annual luncheon at National Association of Minority Automobile Dealers (NAMAD).

Quick Hits: Surge, Cheese, and Coke

  • Mortgage applications surged to a two-year high, driven by a 20% increase in refinancing as homeowners capitalize on falling mortgage rates. 🏘️ 

  • Researchers uncovered the world’s oldest cheese on 3,600-year-old mummies in China. 🧀 

  • Despite a "permanent" launch, Coca-Cola Spiced is being discontinued six months in due to lackluster sales after it failed to deliver the heat. (It was gross y’all -Chris) 🌶️ 

Today in History: NatGeo, Debate, and IBM

  • 1888: The first-ever issue of National Geographic magazine was published. 🖼️ 

  • 1960: The first televised presidential debate aired between John F. Kennedy and Richard Nixon. 🇺🇸 

  • 1973: The first portable computer, the IBM 5100, was introduced. Weighing in at an easy 55lbs, it was groundbreaking (sometimes literally) for its time. 💾 

Thanks for reading, friend! It’s Thursday, sure, but according to that one Jimmy Buffet song, it is already 5 o’clock. That means it’s essentially Friday. And THAT means it’s also 5 o’clock on Friday. So, it is technically the weekend.

Feel free to print this off and give it to your boss on the way out the door this morning so they too can feel the freedom of a well-earned four day weekend.

Reply

or to participate.