Black boxes, technology and sales are affecting automobile manufacturing, which could trickle down to retailers. Meanwhile, Facebook goes public.
Car Sales Surge
What’s Going On: The auto industry is said to be firing on all cylinders now, but can it maintain momentum?
How It Could Affect You: The strong surge in car sales earlier this spring is a sign that maybe things are turning around for automakers. It also could be a positive sign for aftermarket companies and mo-
Tech Tutors What’s Going On:
With the digital dashboard becoming more feature-packed, yet also more complicated for the average user, automakers are encouraging car dealerships to roll out a new breed of employee to help: the technology specialist. This person, who is somewhat of a tech tutor, basically conveys the information to a consumer in an upbeat and easy manner. Some dealerships offer one-on-one appointments while others are even holding monthly sessions. Part of this effort is fueled by Ford to help promote its MyFord Touch system. The company is arming dealerships with more resources for hands-on training. Mercedes is doing something similar by training 11,000 retail employees
and providing its dealers with 1,300 iPads for customers who may not understand certain system features. They will be able to watch a video on an iPad for an explanation.
How It Could Affect You:
Education is becoming more critical for automakers as well as for consumer electronics-related retailers so they can maximize profits on new technologies and systems. This is a wake-up call to make sure potential customers can not only appreciate, but operate the digital systems in their cars. Failure to educate consumers can hurt retailers, who won’t be able to sell some of the newest systems and technologies because customers won’t have a full understanding of why they need them or how to use them.
Facebook Goes Public What’s Going On:
The long-anticipated,
mega-hyped, $16 bil- lion Facebook IPO took place in May and represents not only a financial
with McDonald’s and Goldman Sachs. The stock was offered at $38, but has had a rocky start for those other than Face- book’s early investors and insiders because analysts say the initial price for the stock was miscalculated.
transaction,
but a tech milestone and cultural event. The company, which didn’t exist eight years ago,
is valued at nearly $100 billion, putting it in the big leagues
How It Could Affect You: No doubt, Facebook has changed things, but how this settles out in the stock market will be a barometer for where social media actually fits in the economy as well as in our lives. Re- gardless, Facebook isn’t going anywhere, with its 900 million monthly users around the world. It has become a marketing tool and social outreach outlet for retailers and will continue to be a way for businesses to find consumers and build a fan base.
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bile electronics retailers. In fact, GM boosted its forecast for this year by 500,000 vehicles. Volkwagen said it had its best sales in 40 years, and Audi said April was its best month ever. Chrysler posted a 20 percent jump overall in April — its 25th consecutive month of sales gains. Part of the reason for the uptick? A lot of folks need vehicles so they can get to and from work. Many were hanging on to old cars during the recession, but have reached the point where they need to make a change. With more people investing in a new vehicle comes the opportunity to invest in new technologies. Retail- ers could benefit from this boost with consumers who want to upgrade systems in an existing vehicle.
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