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Russ Taylor, a Service Advisor at Thompson Lexus Willow Grove Service Center, uses his birthday, June 28, as a way to give back. It all started in 2015 when a family friend had to stay at Children's Hospital unexpectedly. During this time, Russ and his friends took the child’s father out for dinner. Russ asked him, “besides your son being ill, what is the worst part about the situation?” Without hesitation, he said that his son didn't want to go to sleep without his Iron-Man action figure. The problem was driving back home was not an option to look for one. He drove all over Philadelphia trying to find the correct figure. As it turns out, hospitals like this don't have enough toys to go around, and sometimes those toys can't go from child to child due to health concerns. That night Russ and the gang came up with the idea to have a toy drive for the pediatric ward. This year, Russ is collecting new playing cards and board games to help the children at Theraplay in Horsham with Speech Therapy, Physical-Occupational Therapy, and Feeding and Confusion Rehab programs. Between June 1 and June 25 Lexus Willow Grove will have a collection bin for the requested items — Thompson is encouraging everyone to donate! Click here to see photos.
Car Dealers Positive, But Less Optimistic About Next 3 Months
Despite continued robust profits, franchised dealers polled by Cox Automotive this spring were a little less optimistic about the future than they were mid-winter, as overall dealer sentiment softened in part because of inflation, higher costs and still-tight inventory. Franchised dealers' expectations for their vehicle markets for the next three months fell from a score of 69 in the first quarter to a still-positive 64 in the second quarter, according to the latest Cox Automotive Dealer Sentiment Index results. "The decline we're observing with franchises here is not typical for this time of the year," Cox Chief Economist Jonathan Smoke told Automotive News. Normally, franchisees' three-month outlook holds steady heading into both spring and summer, Smoke said. Cox surveyed 591 franchised and 555 independent dealers from Jan. 24 to Feb. 7 for the first-quarter index and 568 franchisees and 531 independents from April 25 to May 9 for the second-quarter study. In addition to asking dealers their outlook on the three months ahead, Cox asks about the past 90 days and identifies factors affecting dealers' optimism or pessimism. Cox weighs responses by dealership type and sales volume to calculate a diffusion index. Click here for the full story.
Mercedes Expects EVs to Account for Half of its Sales in the U.S. By 2030
Mercedes-Benz is aiming to sell 45,000 electric vehicles in 2023 across the United States as it looks for EVs to account for half of its U.S. sales by 2030. Speaking at the car manufacturer’s national dealer meeting earlier in the month, company executives said they hope to sell roughly 350,000 vehicles in the U.S. next year. That would be roughly in line with the 357,729 vehicles that it sold locally in 2019, the last year before the coronavirus pandemic sent shockwaves through the industry and impacted sales. Carscoops reports a dealer who attended the event said that Mercedes U.S. marketing boss Drew Slaven said the carmaker’s national advertising focus for the next two years would focus “almost exclusively” on electric vehicles and technology. More than 300 of the company’s 383 dealerships across the United States have made investments in electric vehicle charging infrastructure and equipment, ensuring that they can sell and service EVs. While some companies are launching and selling new EVs under direct sales models, Mercedes-Benz USA chief executive Dimitris Psillakis confirmed that the carmaker will not adopt such a strategy in the United States. Click here for the full story.
Consumers Turn Toward Economical Sedans
Credit the sedans in the Toyota and BMW lineups for moving those automakers to the top spots in the quarterly Kelley Blue Book (KBB) Brand Watch. Wards reports KBB surveys consumers on a dozen factors influencing buying decisions for non-luxury, luxury and electric vehicles, with fuel economy driving many respondents’ answers. “BMW and Toyota came back on top because of the sedans under their model lineups,” Vanessa Ton, senior manager-Cox Automotive Research and Market Intelligence, tells Wards. And when you look at the sedan or car consideration, it increased by six percentage points (from 31 percent the previous quarter to 37 percent in the first quarter of 2022). Six percentage points is a huge jump,” Ton notes. That jump is in line with another leap – gas prices. In the month since The Center for American Progress reported U.S. gas prices up to $6 a gallon, AAA reports gas prices in California nudging the $7-a-gallon mark because of several factors, including supply chain disruptions caused by Russia’s invasion of Ukraine. Click here for the full story.
Ferrari to Add EV Production Line
Ferrari plans to significantly expand its factory in northern Italy as part of the electrification strategy it will unveil during a highly anticipated briefing next week. The automaker has snapped up space near its Maranello plant and started clearing the way for a third production line that will be dedicated to making electrified vehicles. The expansion will also likely include a new battery R&D center reports Automotive News. Ferrari will highlight the project during its June 16 capital markets day, when CEO Benedetto Vigna is expected to shed light on the automaker's EV strategy and lay out his business plan for the next four years. The former STMicroelectronics executive was hired as Ferrari CEO in to accelerate the shift away from the 12-cylinder engines and four-figure horsepower the automaker is known for. Ferrari cultivated one of the world’s most valuable brands long before it staged a smash success initial public offering in 2015. While the company continues to post enviable profit margins, its shares have underperformed recently in part due to concerns about its late start in the EV race and how much playing catch-up will cost. Click here for the full story.
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