Kirk A. Frailey

Sales Growing Across the Industry According to Latest SEMA Market Research ✅📈 The automotive specialty-equipment industry continues to see growth, strong demand, and less volatility this year, according to the new "SEMA State of the Industry--Spring 2024 Report," a biannual report focusing on the current business climate, key industry trends and metrics. The report is provided to SEMA members free of charge. A total of 48% of manufacturers reported an increase in company sales over the past year--an 8% increase compared to fall 2023. Distributors saw the largest sales shift, with 49% reporting an increase in sales, marking an 18% rise compared to last fall. Meanwhile, a majority of retailers (43%) reported that their sales remained steady. "Businesses across the board have continued to see improved sales growth, although rising costs remain a significant challenge across the industry," said SEMA Market Research Director Gavin Knapp. "Our research suggests that despite the price increases, companies are optimistic about their future sales and the growth of the specialty-equipment market in the next three to five years." Read more 🔗 https://brnw.ch/21wK4Zr

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DETROIT (AP) — Stubbornly high warranty expenses and lagging cost-cutting efforts are holding back Ford Motor Co.‘s profits this year, causing the company to lower its full-year earnings guidance. That pushed the company’s stock price down 6% in trading after Monday’s closing bell. The Dearborn, Michigan, automaker, which reported third-quarter earnings Monday, said its net profit tumbled nearly 26% as it took $1 billion in accounting charges to write down assets for a canceled three-row electric SUV. Ford said it made $892 million from July through September, compared with $1.2 billion it made a year earlier. But excluding the one-time items, the company made an adjusted pretax profit of $2.6 billion, or 49 cents per share. That beat analyst estimates of 46 cents, according to FactSet.

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The two companies said they had signed a memorandum of understanding on Monday and that smaller Nissan alliance member Mitsubishi Motors also had agreed to join the talks on integrating their businesses. https://lnkd.in/epqrikXF

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Nissan and Honda signed a memorandum of understanding on Dec. 23 and said that Mitsubishi Motors Corp. agreed to join the talks on integrating their businesses. The merger would create the third-largest automaker in the world. https://lnkd.in/gsaXW-xx

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🔥 Used Car Managers 🚙 🚗 General Managers 🔥 🔥 Dealer Principals 🚘 🚙 Automotive Professionals 🔥 Don’t let margin compression put the squeeze on you. This Friday, September 27th, starting at 9AM EST/ 6AM PST... Join David Long, Vasilios Lambos, Jasen Rice, Diego Vargas, John Ellis, Brian Kramer, Tommy Gibbs, Brian Miller, and other leading automotive experts as they discuss What It Takes To Be Profitable on David Long’s All Things Used Cars. Jump into the conversation or be a 🪰 on the wall like me! Either way, you’ll walk away with amazing insights and actionable tips that you can implement at your dealership TODAY to make you and your bottom line better immediately. 💰🤑💵💲 👀 in the comments for a link to RSVP. You'll be texted a reminder once the room opens up. #automotive #autodealers #automotiveindustry #carbusiness #automotivesales #newcarsales #usedcarsales #usedcardealer #sales

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🔥 Used Car Managers 🚙 🚗 General Managers 🔥 🔥 Dealer Principals 🚘 🚙 Automotive Professionals 🔥 Don’t let margin compression put the squeeze on you. This Friday, September 27th, starting at 9AM EST/ 6AM PST... Join David Long, Vasilios Lambos, Jasen Rice, Diego Vargas, John Ellis, Brian Kramer, Tommy Gibbs, Brian Miller, and other leading automotive experts as they discuss What It Takes To Be Profitable on David Long’s All Things Used Cars. Jump into the conversation or be a 🪰 on the wall like me! Either way, you’ll walk away with amazing insights and actionable tips that you can implement at your dealership TODAY to make you and your bottom line better immediately. 💰🤑💵💲 👀 in the comments for a link to RSVP. You'll be texted a reminder once the room opens up. #automotive #autodealers #automotiveindustry #carbusiness #automotivesales #newcarsales #usedcarsales #usedcardealer #sales

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🌟 Are you at AutoTech: Detroit? Come meet the Grape Up team! Join us for engaging conversations on vehicle connectivity, AI, and data analytics. Let's discuss the future of the automotive industry. We're waiting for you at booth #807! #AutoTechDetroit #VehicleConnectivity #AI #DataAnalytics

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The sales impact of the CDK Global DMS hack is starting to take shape… Plus, several car models are saying goodbye in 2024 and 2026, and new questions raised over GM's 1 million EV production target… Today’s top 3 stories in automotive: 1. CDK cyberattack bites — dealers chase estimated $1 billion in lost sales… https://lnkd.in/gTmCwxCt 2. Muscle cars and family haulers are getting the axe in 2024-2025…but why? https://lnkd.in/gAGK-CT7 3. GM is the latest in a series of automakers forced to reset EV goals… https://lnkd.in/gQGzSnUa Read today’s automotive news, brought to you by Bumper: https://lnkd.in/gPvVuFwX

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🚗📰 Catch today's AutoBuzz highlights: Volkswagen invests $5 billion in Rivian, Ally Financial reports a revenue surge, and Americans strongly advocate for control over their vehicle data. Stay updated with the latest auto industry trends! #automotivenews #automotiveindustry

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#ICYMI: In Michigan's Fiscal Year 2025 state budget, MichAuto will receive $2 million to grow its initiatives to develop and keep young high-skilled talent in Michigan to support the high-tech careers shaping the automotive and mobility industry’s evolution. Learn more about how we're working with our partners to keep automotive and mobility talent hear in Michigan. https://lnkd.in/gYa7uNx5

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Start each morning with what's happening in the auto industry. Sign up for Quell's Motor Minute newsletter to receive your daily dose of automotive news: https://lnkd.in/gAjsJdVU

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