Whether you're a rapidly growing retailer, well-established automaker or scrappy mobility startup, future-proofing your business is tough work. Competition is fierce, technological and regulatory hurdles are high and the market is the final arbiter of success.
This week's issue of Automotive News examines a variety of opportunities and challenges facing noteworthy players in this evolving industry.
Lithia Motors is not content with its recent ascension to the No. 1 dealership group in the U.S. We visited CEO Bryan DeBoer at the company's headquarters in Medford, Ore., to discuss how his company plans to achieve its ambitious goal of $50 billion in annual revenue by the end of 2025. DeBoer's strategy goes beyond acquiring more stores. Lithia is already dabbling in new business lines, and is looking at more verticals. And the company's decentralized business model gives local leaders the autonomy to make decisions that contribute to company growth.
Executive Editor Jamie Butters provides further insight on what makes Lithia tick: DeBoer buys the dealerships while COO Chris Holzshu — who sees parallels between selling cars and his past life freezing on a commercial fishing boat in the Bering Sea — keeps the business running.
Meanwhile, Experian registration data shows that Tesla continues to devour market share, despite a growing number of electric vehicle offerings from incumbent automakers. A number of factors — strategic price cuts, manufacturer incentives, the Inflation Reduction Act's tax credits and Elon Musk's willingness to trade some profits for growth — are contributing to the automaker's dominance. Model Y registrations more than doubled to 167,900 in the first five months of this year after its price dropped about $18,000 to $49,380, including shipping, making it the nation's fourth-bestselling nameplate. Says J.D. Power market data expert Tyson Jominy: "Tesla may not lose its No. 1 seat at the table for years."
While EVs have arrived, robotaxis and other automated driving applications still have a way to go. In the fifth and final installment of the 2023 Intelligence Report, we outline the latest developments on 10 ventures that are leading the development of self-driving tech. While strides are slowly being made, there have also been setbacks. In California, regulators delayed voting on Cruise and Waymo's bids to expand their robotaxi services in San Francisco, and the state senate advanced legislation that would prohibit self-driving trucks from operating.
Progress isn't easy. Any victories will be hard-fought. And any defeats, I hope, will become lessons that lead to future victories.
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July 17, 2023 at 12:00AM
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The fight for the future in the auto industry has many fronts - Automotive News
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