- Roger Penske launched a bid to buy the portion of Penske Automotive Group he doesn't already control.
- James Baggott has returned from a summer hiatus and has been chatting to car dealers and suppliers about how AI is being deployed in dealerships.
- Baggott published the weekly briefing questioning whether the stock market is really the right place for car dealers, with an exclusive look ahead to AI Week.
- AI Week is scheduled to run August 3-7 on the Car Dealer Magazine website.
- Baggott reveals some of the cool things car dealers have been building and doing with AI.
- Robert Forrester may consider a similar move with Vertu as Penske's actions raise questions about the stock market's suitability for car dealers.
James Baggott raises critical questions about the relevance of the Stock Market for car dealers, particularly in light of Roger Penske's recent bid to regain control of Penske Automotive Group. Baggott notes that this move prompts a broader discussion on whether car dealerships should remain publicly traded.14
As the industry evolves, Baggott emphasizes the importance of innovation, particularly through artificial intelligence. In anticipation of AI Week, which runs from August 3-7, he has engaged with various dealers to uncover how they are currently utilizing AI technologies. His findings reveal a surprising level of creativity and adaptation among dealerships, showcasing practical applications of AI that are reshaping the motor trade.5
Baggott's exclusive insights suggest that while some dealers are thriving in the stock market environment, others may find greater success by focusing on technological advancements rather than traditional financial structures. This perspective is particularly relevant as the automotive industry faces rapid changes driven by technology and consumer expectations.
“I was surprised at what some of them have built,” Baggott reflects, indicating a shift in how dealerships operate and compete in a digital age. As AI continues to influence the sector, the question remains: is the stock market the best platform for car dealers to thrive?
“Baggott says he was 'amazed' by how dealers large and small are using AI and is surprised at what some have built. AI Week runs August 3-7 on the Car Dealer Magazine website, and Baggott wonders whether Robert Forrester could do something similar with Vertu.”
