A new ebook exploring automotive marketing strategies for the year and retrospectives of the 2023 market was recently released by software, marketing and data company ZeroSum and is available to download for free.

The ebook, called “2024 Automotive Marketing Strategies + Retrospective of the 2023 Market,” dives into the complexities dealt with by the auto sector last year, while also providing a roadmap for dealers open or seeking to adopt new strategies for the current year.

“2023 brought unexpected change within the auto industry,” said David Cox, COO at ZeroSum, in a statement. “Market dynamics such as declining household incomes, high interest rates and high vehicle prices created a drag on sales. Moving forward, it is critical for dealers to leverage live local market data to understand customer demographics, vehicle preferences and demand.”

He added that millions of in-market customers continue to search for vehicles, and that dealers “need to work a little harder to find them.” Which is why the ebook considers four key directives: leverage data-driven marketing for targeted campaigns, embracing Artificial Intelligence-driven tools (with human oversight), optimize inventory management for efficiency, and recognizing the value of personal interactions to help boost sales.

The ebook also looks at 2023’s record-high new vehicle prices and the surge in new vehicle inventory that resulted in static movement on dealer lots. Dealer setbacks in the form of the strike against Detroit’s big three OEMs, and the impact of aggressive electric vehicle targets are also explored — among other things.

Dealers can download the ebook here.

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The Canadian used wholesale market saw prices decline -0.52% for the week ending on Jan. 20 — nearly on par with the prior week’s -0.51% and a stone’s throw away from the 2017-2019 average of -0.28% for the same period, according to Canadian Black Book’s latest market insights update.

On a segment basis, the overall car category was down -0.70%, compared to the prior week’s -0.59%. And the overall truck/SUV segments saw a decrease of -0.34% compared to the previous reporting period’s -0.42%. What remains wholly unchanged is that none of the 22 segments’ values increased for the week.

In the United States, the overall car and truck segments decreased -0.49% last week and -0.63% the prior week. The volume-weighted car segments were down -0.37%, compared to -0.39% the week before that. And the volume-weighted truck segments decreased by -0.53%, versus the -0.73% experienced the prior week.

In Canada, the premium-sports car segment experienced minimal decline (-0.08%), while the decrease felt by compact cars was slightly more profound (-0.52%). However, the most significant decline observed came from tied sub-compact cars and sports cars, at -1.27%.

For trucks/SUVs, all segments showed a depreciation. Those with the largest declines were compact vans (-0.92%) and small pickups (-0.69%). Others include full-size pickups (-0.53%) and cub-compact crossovers (-0.52%).

As for the average listing price for used vehicles, as per the 14-day moving average, it was approximately $37,400. The analysis is based on around 208,000 vehicles listed for sale on Canadian dealer lots, according to CBB.

The full report is available here.

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North America’s DSMA (Dealer Solutions Mergers and Acquisitions) has now expanded into the European market through a strategic partnership with UHY Hacker Young, the company said in a news release.

Based in the United Kingdom, Hacker Young is an M&A player that specializes in dealership transactions. The collaboration between UHY and DMSA stems in part from a need to build a bridge connecting the North American and European automotive markets.

“We are very excited about this partnership as it will allow both DSMA and UHY clients greater access to international opportunities, opening up both the North American and European Markets,” said Farid Ahmad, Founder and CEO of DSMA, in a statement.

DSMA already has regional offices in a range of cities/provinces.This includes Calgary, Alberta; Chicago, Illinois; Las Vegas, Nevada; Montréal, Québec; Nashville, Tennessee; New York City, New York; Scottsdale, Arizona; St. John’s, Newfoundland; Stuart, Florida; and Vancouver, British Columbia. Europe is the latest addition.

“The international marketplace has been hugely active over the past decade with many global automotive groups entering the U.K. market, as well as European and Middle Eastern investors considering opportunities in the U.S. and Canada alike,” said David Kendrick, CEO of UHY Hacker Young, in a statement. “This strategic partnership opens a huge opportunity to further support this growing area of the market between UHY and DSMA.”

In other words: cross-border opportunities through access to “highly confidential” dealership acquisitions opportunities in the European market, international reach, and global benefits in the form of a symbiotic relationship.

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Provincial new light vehicle sales for December revealed more growth-variety than was experienced throughout 2023, according to DesRosiers Automotive Consultants.

“At the provincial level, the most notable factor in 2023 was the breadth of gains across the country,” said Andrew King, Managing Partner at DAC, in a statement. Sales growth per province last month ranged from an estimated 7.4% increase in Ontario to a 27.3% increase in Newfoundland.

“Improved vehicle availability was the dominant industry dynamic in 2023 and easily outweighed any regional variations in economic performance,” explained King in DAC’s update.

In comparison 2023 saw new light sales increases across Canada, with all provinces noting a boost in sales compared to 2022. Based on reporting manufacturers, Alberta was a standout performer with an increase of 14.3%. British Columbia was up 13.3% from 2022, and Ontario managed the third largest increase at 12.2% over the prior year — even as it experienced slower growth towards the end of 2023. Saskatchewan, still noting an increase, saw sales rise a “single-digit” 6.2%.

Overall for 2023, total new light vehicle sales among reporting OEMs reached 1.664 million units sold. That translates to an increase of 11.8% over 2022. And for December, estimated sales were up 10.5%, just over 120,000 units.

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Consumer satisfaction with the car-buying process in the U.S. improved in 2023 following two years of declines, according to a Cox Automotive news release. The data is based on its annual Car Buyer Journey (CBJ) Study, which was released on Jan. 17.

The report revealed that consumer satisfaction with the overall vehicle shopping and buying experience was up last year. It declined in 2021 and 2022. The study also indicates that dealerships continue to provide “elevated” levels of satisfaction with the auto retail experience, according to 74% of all vehicle buyers and 79% of new-vehicle buyers.

“There is an often-cited narrative that suggests going to a car dealer is worse than a root canal,” said Isabelle Helms, Vice President of Research and Market Intelligence at Cox Automotive, in a statement. “Our research and data, however, suggest that this is simply not the case.”

In its news release, Cox Automotive also said that positive feedback stretched to key touch-points like the test drive experience (82%), vehicle pickup and delivery process (79%), and interaction with the sales team (77%). However, it should be noted that the increase in consumer satisfaction also stems from improved inventory levels, the return of discounting, and a greater proliferation of the omni-channel approach, along with a reduction in the time required to purchase a vehicle.

“Dealerships that fully embrace an omni-channel approach are the most successful, as the process becomes more efficient for everyone involved and delivers happier buyers as well,” said Vanessa Ton, Senior Manager of Market and Customer Research, in a statement.

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Through a partnership with real-time location services TrueSpot, KeyTrak has announced that it will unveil a system that will allow dealership personnel to quickly locate vehicles and their lost or misplaced keys, possibly saving them hundreds of dollars annually. 

KeyTrak Edge, as it is known, will be unveiled at the NADA Show that is set to take place from Feb. 2-4, 2024, at the Las Vegas Convention Centre in Nevada. According to TrueSpot’s estimations, dealerships in North America spend approximately $350 million or more every year replacing keys that have been lost during typical dealer operations.

“With the technology available today, there’s little reason for keys to go missing,” said Steve Robinson, Vice President of Sales at KeyTrak, in a statement. “Our goal is to make sure dealers have the tools they need to prevent lost keys in their dealerships. Our partnership with TrueSpot makes that goal a reality.”

The system leverages TrueSpot’s AQFind Location Platform, along with its gateway sensors and geo-intelligence. This in turn allows the company to narrow down the location of the key in real-time within a few feet anywhere on the dealership’s lot. It is through the network of sensors and KeyTrak’s key access tracking measures that managers will be able to review the analytics to see who is checking out keys and why — and also, where they are located.

“KeyTrak’s electronic key and asset management systems provide the ‘who’ and ‘when’ of finding missing assets; TrueSpot completes that search criteria with the ‘where,’” said Robinson, adding that “with the integration between KeyTrak and TrueSpot, dealers are able to identify problems before they escalate.”

Demonstrations of the system will be offered at the KeyTrak booth (#3140W) at NADA.

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A new book by Rapid Recon founder Dennis McGinn that explores how a dealership reconditioning software company can provide predictability in the general manager’s day will launch at NADA on Feb.1, 2024, in Las Vegas, Nevada.

ASPIRE to Predictable details how technologies that provide predictability and accountability reduce the many day-to-day stresses of a general manager. Rapid Recon regularly checks a dealer’s used inventory and matches it up against its safety recall data to reduce the possibility of a safety recall risk. The book explores how technologies that provide predictability and accountability can reduce the many day-to-day stresses of a general manager. 

“[General Managers] just want things to work without having to be pulled in when something comes off the rails or gets slammed by unexpected events,” said McGinn. “Whether it’s the appraisal processes, used car reconditioning, or digital retailing — all of which support dealership sales and service — GMs want to know these functions are dialed in and that they just work.”

In a news release, Rapid Recon said achieving consistency with trade appraisals remains difficult because of the challenge around used vehicle profitability, particularly where mechanical repairs are concerned. Missed opportunities have the potential to “kill” the opportunity for reselling the trade at a profit. “The objective is to eliminate chargebacks to sales,” said the company. 

The book will be available at booth 3363W at the Las Vegas Convention Center. More information is also available here: https://www.rapidrecon.com/books/.

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Could tech giants one day displace OEMs? According to IDTechEx, the shift that the industry is experiencing and the trends that are underway (electrification, self-driving, software-defined vehicles) could see technology and consumer electronic companies take on a much bigger role in the automotive industry.

New approaches such as online car-buying, servicing initiated through an app, and new features and recalls carried out over-the-air are now spreading across the industry and providing more opportunities for tech companies, said IDTechEx in its news release. 

“In late 2023, Hyundai and Amazon launched a strategic partnership to sell vehicles on Amazon.com, and Sony entered a joint venture with Honda to leverage Sony’s experience with AI, entertainment, and augmented reality,” the company said. “But as the automotive industry electrifies, and the combustion engine is no longer the defining feature, is it possible that this trend could go beyond tech companies providing the infotainment for an automotive OEM and start producing vehicles themselves?”

IDTechEx sees the key challenge being that these industries have different strengths. The traditional and OEM aspects of manufacturing vehicles at high volumes, and with excellent quality control, is something that tech companies and startups seem to lack. However, IDTechEx also notes that this is a challenge that can be overcome by companies that are better financed to set up the required manufacturing infrastructure and get the industry expertise they need.

Take Electronics manufacturer Foxconn for example (known for producing Apple’s iPhones): the company started producing EVs and “aims to take 5 per cent of the global electric vehicle market over the next few years.” And Chinese smartphone maker Xiaomi has already unveiled an EV. 

The question now, according to IDTechEx, becomes: “what is the more difficult route, an automotive OEM developing the technology required for the future consumer or tech giants developing the manufacturing skills needed for mass market automotive applications?”

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The federal government recently announced that a national summit on combating auto theft will take place on Feb. 8, 2024, in Ottawa, Ont., bringing together leaders from key sectors to ensure a coordinated response to this ongoing issue.

“Collaboration is key to identifying solutions,” said Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs, in a statement. “By convening partners from across local, provincial and national jurisdictions, this summit will enable us to further coordinate our collective efforts to combat auto theft.”

In a news release, the Global Automakers of Canada thanked the government for its response. They said participating member companies have been working hard over the last two years with private and public entities to both gather and share information — and create a societal strategy to help reduce auto theft. 

“Over that same period of time, we have witnessed an increased level of both car jackings and home invasions that have transitioned auto theft from being a property crime issue to a significant public safety issue,” said David Adams, President and CEO of GAC, in a statement.

A main goal of the summit will be to identify short, medium, and long-term actions that can be used to combat auto theft now, and will strengthen joint initiatives that are already in the works. For Adams, that will be the “litmus test” of the summit’s success: concrete actions that can be immediately implemented, and that sends a message to organized crime that Canada is serious about how it is approaching and managing the situation.

Auto theft rates have climbed by 50 per cent in Québec and 48.3 per cent in Ontario in 2022 compared to the prior year, according to the Équité Association’s 2022 Vehicle Theft Trend Report. The study also found that more than 80 per cent of Canadians are concerned about community safety as a result of the crisis. 

“The national summit signifies a crucial step toward a coordinated and comprehensive response to this escalating issue,” said Terri O’Brien, President and CEO of Équité Association, in a statement of support.

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With the return of the eighth season of the Chevrolet Good Deeds Cup, Canada’s youth hockey teams will be able to drive change in their communities by competing for a chance to win $100,000 for a registered Canadian charity of their choice.

From January 19 to March 3, 2024, eligible U11 to U15 youth hockey teams can submit their good deeds that can range anywhere from volunteering at a local charity to shoveling snow for someone. They are encouraged to “fill their cup” with as many good deeds as possible and then share these deeds via video on social media. 

“Last year, we expanded the contest to welcome participants aged 13 and older, allowing everyone in the community to submit their impactful videos,” said said James Hodge, Brand Director at Chevrolet Canada, in a statement. “By doing so, we aim to surpass the incredible number of entries received last year and empower even more individuals to engage in acts of kindness through the Chevrolet Good Deeds Cup.”

Hodge said the Chevrolet Good Deeds Cup has donated more than $850,000 to charities across Canada over the past seven seasons. The deeds also enhance the idea for young hockey players that they can make a positive impact in their communities. 

Last year, the U13A Cornwall Typhoons from Cornwall, Ont. claimed the title. The all-female team completed 343 good deeds and donated the grand prize to Beyond 21 — a charity that supports adults with developmental disabilities.

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The winners of the 2024 AutoTrader Awards have been announced, with new categories introduced this season to reflect how Canadian consumers shop for vehicles.

Jodi Lai, AutoTrader’s Editor-in-Chief, said the awards are the “ultimate expression” of the company’s commitment to being a trustworthy source of expert car advice. 

“With so many good options, picking the right car can be a daunting task, so these awards are a way for Canadian drivers to gain insight into what the experts recommend and what separates a ‘good car’ from an ‘award-winning car,’” said Lai in a statement.

The new categories introduced this season are Best Hybrid (Toyota Prius) and Best Plug-In Hybrid/PHEV (Toyota Prius Prime). These categories join others such as Best Mainstream EV, Best Premium EV, Best Mid-Size SUV, Best Full-Size Truck, and more.

More than 20 automotive journalists from across Canada voted on the vehicle in each segment that they felt confident recommending to their own family and friends — vehicles that go “above and beyond.” What exactly that constitutes is calculated when judges consider 12 different criteria. This includes value, innovation, safety, driver satisfaction, and overall excellence.

“Five overall Grand Prix winners of the 2024 AutoTrader Awards will be announced on February 15, 2024,” said Trader in a news release. “Every vehicle that won an award in this round is eligible for a Grand Prix trophy in their respective category.” 

Those categories are: Best Overall Car, Best Overall SUV, Best Overall Truck, and Best Overall Green Car. Furthermore, Canada’s Most Trusted Car Brand will also be announced on the same date. 

The 2024 AutoTrader Award category winners are as follows:

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Canadian auto dealer senior editor Todd Phillips interviews Peter Viney, CADA’s Industry Relations Manager about the speakers and sessions at the 2024 CADA Summit being held Feb. 14, 2024 in Toronto. The event is sponsored exclusively by TD Auto Finance.

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