NORTHEAST OHIO AUTO DEALERS ASSOCIATION

Congratulations to Audi Bedford, Audi Mentor, Honda of Mentor, Mercedes-Benz of Bedford Porsche Beachwood, and Toyota of Bedford on being named in the Automotive News 2024 Best Dealerships to Work For! https://lnkd.in/dwEEHaWC

According to BleepingComputer, a group and strain of ransomware known as BlackSuit is behind the CDK cyber attack. Like most ransomware, it is often spread through phishing emails via malicious attachments or links. Good time for dealers (and all businesses) to ensure they’re using EDR, MFA, conducting phishing simulations, running full internal pen tests and vulnerability scans, and other cyber hygiene basics. A good pen test can simulate, test, and detect ransomware vulnerabilities.

Join the Fred Martin team! ✅ Flexible Schedules ✅ 401(K) with Company Match ✅ Employee Discounts ✅ Paid Time Off & Vacation ✅ Medical, Vision, Dental and Life Insurance ✅ Employee Referral Bonus Program Apply Online Now: FredMartinCareers.com #hiring #automotive #careers #careeropportunities #jobs #ohiojobs #jobopportunities #akronjobs #barbertonjobs #dealership #autoindustry #automotivejobs

Serra Automotive is seeking an experienced, retail automotive controller who is looking for a potential “encore” career in Northern Michigan as an Assistant Controller. Serra acquired the Bill Marsh Auto Group in May and is seeking to replace a longtime CFO that retired when the acquisition was finalized. The ideal candidate will have an opportunity to mentor a young, energetic, and talented Controller who has only been in the retail automotive industry for one year. This is a new position made possible by the retirement of the previous CFO. This position could be ideally suited for the candidate that has had a long career as a CFO or Controller for Dealer Groups or standalone retail automotive dealerships. Traverse City is one of the fastest growing cities in Michigan. Set on the shores of Lake Michigan it is a leading resort community that offers unlimited outdoor activities year around including biking, boating, skiing, golfing, hiking, fishing, hunting and more. Traverse City is experiencing unprecedented growth in its real estate stock of apartments, condominiums and single family homes. A perfect setting for that final career change! Founded in 1973, Serra Automotive is the 12th largest Dealer Group in the USA (Automotive News, 2023). Based in Fenton, Michigan, Serra is comprised of 61 dealerships in 7 states and holds 86 automotive franchises throughout its 28 campuses. Serra is on track to generate $4.3 Billion of revenue in 2024 while retailing over 85,000 new and used vehicles. Please send your resume in strict confidence to Ron Haggin rhaggin@serrausa.com. To learn more about Serra and its locations in Northern Michigan, visit www.serrausa.com

🎉 Welcome to a brand new week! We're excited to have Steve Greenfield as a guest host. Today, we'll be discussing how the public is adapting to the “new normal” and delving into Elon Musk’s Tesla pay package. 🚗 Dealerships are adapting to a "new normal" with high interest rates and rising inventories: -Asbury Automotive Group: Acquired Larry H. Miller Dealerships and Jim Koons Automotive Cos., integrating new F&I products across its stores. Generated $14.8 billion in revenue in 2023 and expects integration completion by year-end. -AutoNation Inc.: Diversifying operations with acquisitions like RepairSmith and expanding e-commerce parts business via autonationparts.com. Remains selective with mergers and acquisitions. -CarMax Inc.: Aiming to sell 2 million vehicles annually by 2030, opened five new stores, but faced challenges in the used-car market with a 5.2% drop in retail vehicle sales and a 6.6% decline in wholesale sales in fiscal 2024. -Carvana Co.: Reported a net profit with a 17% revenue increase, leveraging ADESA auction sites for growth and converting more sites into inspection and reconditioning facilities. -Group 1 Automotive Inc.: Acquiring high-revenue stores and expanding internationally while selling underperforming dealerships. Expects to finalize the purchase of Inchcape's U.K. retail operations in Q3 2024. -Quote from CarMax CEO Bill Nash: "Although fiscal 2024 was a challenging year for the used-car industry, we focused on controlling what we could control while at the same time advancing our strategic priorities." 🔗 Read more: https://lnkd.in/eiVdZkQC 🚀 Tesla shareholders have affirmed Elon Musk’s multibillion-dollar compensation package, solidifying his position atop the world's most valuable automaker: -Elon Musk’s 2018 stock-option deal, now worth $48 billion, faces legal opposition. -Musk celebrated with ambitious visions, including billions of humanoid robots and a $30 trillion valuation for Tesla. -Despite challenges, Tesla’s Model Y was the top-selling vehicle worldwide in 2023, marking the first time an EV led global rankings. -ARK Invest predicts Tesla's share price will reach $2,600 by 2029, with robotaxi business driving nearly 90% of the company's value. -Comment from Automotive Ventures weekly email: "Tesla’s core business is faltering, and Elon Musk’s hype has barreled past the boundaries of outright fantasy, damaging the company’s reputation and entangling it in legal battles." -Highlighted Comment from AV email: "You are an embarrassment Steve Greenfield. Turns out you don't know much about this pay package deal. People are fools listening to you." 🔗 Learn more: https://lnkd.in/eBKSm79v Paul J Daly #AutomotiveIndustry #Tesla #Dealerships #ElonMusk #BusinessAdaptation #automotivenews #newnormal

This afternoon, we welcome NORTHEAST OHIO AUTO DEALERS ASSOCIATION, Ohio BMV of Akron, and Solera, Inc. 62 members and growing.