This article originally appeared in the August 2023 issue of THE SHOP magazine. Are millennials and Gen Zers less interested in vehicle ownership and driving? Not according to a study conducted by Hagerty Insurance titled “Why Driving Matters,” which found that 81% of millennial drivers said they “like,” “love” or are “passionate about” driving, just… Continue reading A New Breed of Classic Cars?
Tag: Trends
KPI — July 2023: The Brief
While consumer confidence and sentiment are on the rise, inflation and labor shortages continue to impact small businesses…
KPI — July 2023: State of Business
Vehicle sales growth continued in June, but the industry may face challenges in the coming months, such as higher interest rates and changing economic conditions…
KPI — July 2023: Recent Vehicle Recalls
A roundup of recent manufacturer safety recalls…
KPI — July 2023: State of the Economy
There continues to be a tug of war between the overall economy and labor market, according to economists…
KPI — July 2023: Consumer Trends
While consumers expressed a more upbeat outlook this month, surveys indicate they are anticipating a recession at some point during the next 6 to 12 months…
Prefix Corp.: At the Heart of the Action
This article originally appeared in the August 2023 issue of THE SHOP magazine. By Maura Keller Family businesses have long been a staple of the American economy. According to the Small Business Administration, about 90% of all U.S. companies are family-owned or controlled. Ranging in size from small mom-and-pop shops to Fortune 500 entities, family… Continue reading Prefix Corp.: At the Heart of the Action
Tips to Improve Your Website’s SEO
There are about 8.5 billion Google searches every single day, but 75% of users never scroll past the first page, according to Motorhead Digital, a digital marketing firm specializing in restoration, performance and race shops. If your shop isn’t showing up on the first page of the search results, then you might not get many… Continue reading Tips to Improve Your Website’s SEO
Carvana Releases Mid-Year Top-Selling Vehicle List
Carvana has released its mid-year list of top-selling vehicles for 2023, the used car retailer announced. Six of Carvana’s Top 10 mid-year best sellers were sedans, signaling that affordability and accessibility are critically important to customers when shopping the used vehicle market, according to the retailer. The 2023 Mid-Year List of the Top 10 best-sellers… Continue reading Carvana Releases Mid-Year Top-Selling Vehicle List
Survey: EV Consideration at Record High
Despite growing interest, a gap exists between consumer enthusiasm for electric vehicles (EVs) and their actual purchasing decisions, according to new research released today by Cox Automotive. The 2023 Path to EV Adoption: Consumer and Dealer Perspectives study also reveals a lack of EV readiness among U.S. automotive dealers regarding sales and service, Cox said.… Continue reading Survey: EV Consideration at Record High
The Power of Partnership: Successfully Navigating the Evolving Fleet Industry
Industry representatives weigh in about the current state of the fleet market, and the importance of partnering with a trusted warehouse distributor like Keystone Automotive…
Survey: More Americans Questioning Car Ownership
More Americans are wondering if car ownership is necessary, according to a new survey released by Zipcar, a car-sharing network, and conducted by Wakefield Research. According to the survey, monthly car payments near record numbers, interest rates at the highest level in nearly 15 years, and the financial burdens of gas, insurance, parking, and maintenance… Continue reading Survey: More Americans Questioning Car Ownership
Makerspaces: A Space for Business
This article originally appeared in the July 2023 issue of THE SHOP magazine. There’s no doubt the industry desperately needs tradespeople of all stripes—everyone from CNC machinists to welders. We skipped a whole generation as we sent everybody off to college and university to get a degree, and that decision is now coming back to… Continue reading Makerspaces: A Space for Business
Stellantis Forms Joint Venture to Manufacture Semiconductors
Stellantis and Hon Hai Technology Group, also known as Foxconn, have partnered to create SiliconAuto, a 50/50 joint venture dedicated to designing and selling a family of state-of-the-art semiconductors to supply the automotive industry, including Stellantis, starting in 2026, the companies announced. SiliconAuto will provide customers an auto industry-centric source of semiconductors for the growing… Continue reading Stellantis Forms Joint Venture to Manufacture Semiconductors
SEMA Releases 2023 Market Report
The specialty-equipment market reached $51.8 billion in sales with an overall market growth of 2%, according the new 2023 SEMA Market Report. This continues a decade of growth for the industry, even among recent economic turmoil created by the pandemic. While the growth percentage was slightly down from the industry’s typical annual rate of 4% to 5%, the slowing… Continue reading SEMA Releases 2023 Market Report