I write this column with a heavy heart. A giant of the automotive industry is no longer with us. Sergio Marchionne, the visionary who brought together Fiat and Chrysler to create a powerhouse automaker, has died at age 66 after complications from surgery. Automotive Buy Sell Report extends our condolences to his family and our respect for his achievements.
Other news in the auto industry this week included Genesis, Hyundai’s young luxury brand, winning top honors in the J.D. Power 2018 U.S. APEAL study. APEAL, which stands for Automotive Performance, Execution, and Layout, measures owners’ emotional attachment and level of excitement with their vehicles 90 days after purchase.
Kudos to the Hyundai group. I am still surprised when I see one of its namesake brand vehicles on the street, think “what a great-looking car!” and see it is a Hyundai. (It did come out with the new design language several years ago. I guess I should get over that….) Though the automaker has struggled to settle on a distribution strategy for its luxury brand, it clearly is doing something right with the vehicles themselves.
In this week’s issue, I profile a Hyundai dealer who sounded super optimistic about the industry in general and his recent acquisition of a Cadillac GMC store. Mack Huckaby has big plans for his new dealership, and for his growing dealership group.
Also this week, our friends at Crowe are back with the final installment in a series looking at how dealerships can take full advantage of the new tax laws, with a focus on pass-through deductions and real estate.
And of course we have Transaction News.