The Morning Shift All your daily car news in one convenient place. Isn't your time more important? Carlos Ghosn loses his place on Nissan’s board of directors and claims he’s the victim of a conspiracy, Tesla cuts sales staff, Fiat Chrysler pays $110 million to settle investor lawsuit over emissions, and Elon Musk’s tweets. All of this and more in The Morning Shift for Tuesday, April 9, 2019. 1st Gear: Carlos Ghosn Says He’s the Victim Here Former Renault CEO and Nissan chairman Carlos Ghosn, who was originally arrested over allegations of financial misconduct from Nissan in November and has been arrested multiple times since, released a video statement on Tuesday in regards to the allegations against him. The claims against Ghosn have built since the original arrest, and include allegations of underreporting $90 million in compensation and putting personal financial losses on Nissan. He might have even had Renault pay $57,000 toward his wedding, … [Read more...] about Normal Day in 2019: Nissan’s Ex-CEO Calls Out Conspiracy in Video From Jail
Retail sales job description
When you decide that it’s time to sell your current car, for whatever reason, you want the process to go as smoothly and quickly as possible, even if you’re not pressed for time. We’ve seen so many people make the same kinds of mistakes over and over again that keep them from achieving their goal, whether it’s to get the most money possible for their car or to simply unload it as fast as possible. Here are the top 20 mistakes when selling your car that can easily be avoided by taking a few simple steps and precautions: Mistake #1: Not Knowing Your Car’s Value It’s impossible to figure out what price to put on your car without first knowing what your car is worth. Figuring this out isn’t rocket science, but it does take a little leg-work if you want to make sure your pricing is in line with what’s happening in the local market. This is not a place to cut corners in terms of time and effort as the results of this process are the foundation … [Read more...] about Top 20 Mistakes When Selling Your Car
By Peter M. DeLorenzo Detroit. Ah yes, 2018, what a spectacular time to be in the automobile business. With the promise of new beginnings and untold profits dancing in "The New Visionaries'" heads, a Next Frontier marked by a horde of shiny happy zombie cars careening across the landscape, and a blissfully unaware populace with joker-like grins plastered on their faces as they revel in the mindless, pay-as-you-go un-involvement – what could possibly go wrong? Meanwhile the real-world market has been upended by actual paying customers and their insatiable desire for Crossovers, SUVs and Trucks, to the point that legacy auto companies like GM have been caught out of position and unprepared, forcing it to close underperforming plants and cut thousands of workers. GM blames the market conditions, but I place the blame squarely on management for their lack of planning and inability to anticipate where the market was going. Add to this chaotic situation the headlong rush of … [Read more...] about DIGITAL DISCIPLES, ZOMBIE CARS, AND ENOUGH DELUSION AND HUBRIS TO POWER THE NEW EMERALD AUTO CITY JUST OVER THE HILL. WHAT COULD POSSIBLY GO WRONG, BESIDES EVERYTHING? THAT’S RIGHT, IT’S TIME FOR THE AUTOEXTREMIST 2018 YEAR IN REVIEW!
The dealership finance manager is one of the most complicated and highest-paid positions in automotive retail. Though a six-figure salary awaits a top F&I manager, so does the pressure to make up for shrinking front-end profit margins and the burden of maintaining compliance standards. As new-vehicle margins melt away, structuring a pay plan that rewards one of the biggest earners in a dealership but still ensures the job is done ethically and legally is one of dealers' greatest challenges, auto retail experts said. A traditional F&I pay plan is commission-based. F&I managers' pay is largely based on product sales and finance reserve — the retail margin dealerships earn for arranging a loan. In 2016, F&I managers made $138,209 on average nationally, while 14 percent made more than $200,000, according to the National Automobile Dealers Association's 2017 Dealership Workforce Study. That compares with an average salary of $130,342 for sales managers and $115,082 for … [Read more...] about It’s not the money; it’s how you make it
There’s an official mission statement Tesla employees learn when they first start their job: “Accelerating the world’s transition to sustainable energy.” It’s an ambitious proposal that hinges on selling attractive, electric cars under a business model that’s unique to the auto industry—a “direct sales” approach where vehicles are sold directly to consumers by Tesla, not through a third-party dealer, as is customary and often legally mandated at the state level. But as Tesla tries to spur an electric car revolution, the salespeople who are key to actualizing the automaker’s project say they’re being overworked, underpaid, and outright mistreated, according to court records, interviews, and documents obtained by Jalopnik. Last month, Tesla agreed to settle a federal class-action lawsuit brought by three current and former Owner Advisors—the job title ascribed to one segment of salespeople—for $1 million. The … [Read more...] about Why Tesla’s Sales Staff Say They’re Being Shortchanged In The Electric Car Revolution