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Bloomberg Intelligence's Kevin Tynan made his regular appearance at the VADA Annual Convention this month, offering his analysis of the challenges facing manufacturers and opportunities in front of franchised dealers, which continue to sit in the best position to drive automotive retail sales.
This podcast is best viewed alongside Kevin's presentation. You can grab a PDF of those slides, as well as a much deeper written report, on the VADA website. There, you can also watch his presentation synced to his audio (perfect for a lunch-hour lesson).
Get it all here.
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This month in South Carolina, we brought our convention attendees four of retail automotive's leading minds â and now we bring them to the masses. Here's the podcast of our expert panel featuring John Altman of Beyer Auto Group; Liza Borches, former VADA chair and fourth-generation leader of Carter Myers Automotive; and automotive analyst and auto tech investor Steve Greenfield. It's all moderated by Dealer Merchant Services' Amberly Allen.
The post-COVID automotive industry faces challenges and opportunities, including embracing change, adapting to new consumer preferences, and investing in resilient business models. They talk the potential of AI, the significance of culture and employee engagement, and the importance of adapting to changing customer preferences. They also highlighted concerns about margin compression, technician shortages, and the impact of government changes and tariffs.
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We talk to the omnipresent Amberly Allen, along with Virginia dealer Phil Englander. Amberly is the founder and managing director of Dealer Merchant Services, which the enterprising entrepreneur developed after coming up with a compliant way to help dealers save on credit card processing fees without turning off customers and damaging satisfaction scores. Phil Englander, of Richmond's Hart Auto Group, was looking for a solution to that very problem. So how did implementation go? Where did Hart find opportunity? What were the challenges to making this all work (and hint: it wasnât with customers).
Connect with Amberly Allen on LinkedIn
Ask Phil about his experience via LinkedIn
And here's more on DMS.
Dealer Merchant Services is a VADA program partner.
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We chat with Randy Barone, a VP with VADA Partner ACV Auctions. With decades in retail auto and specific expertise in used vehicle inventory for franchised dealers, Randy talks the "its" of inventory: Getting it, Turning it, and Making a Profit. As someone on the NADA circuit who also makes regular 20 Group appearances, Randy shares dealers' top concerns, areas of confusion, and opportunities when it comes to used vehicle inventory. And what, exactly, is a "wholesale profit center?" Allow Randy to explain.
Connect with Randy on LinkedIn
Check out ACV's offerings and services
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We talk with Tim Batchelor of Open Road Capital, a Northern Virginia firm that invests with partner Bain Capital Credit and works as an operational partner with dealers to help them grow, restructure, and build succession plans.
Tim outlines the partnership model of Open Road, emphasizing their focus on collaborating with dealers and providing support throughout their careers. Open Road operates as an âevergreenâ company, distinct from traditional private equity, and is a partner for the long haul.
We delve into the considerations for dealers when contemplating such a partnership. Tim highlights the importance of understanding the people, philosophy, and culture of potential partners and emphasizes the role of entrepreneurs in the automotive industry. And stick around for the inspiring story of Rinaldi Halim, a dealer-principal who came to America from Indonesia, who has worked with Open Road to build his dealership network in California.
More on Open Road Connect with Tim -
Inventory is up, but so are interest rates. Consumers were happy over the summer...but will that joy continue?
On the heels of the release of Cox Automotive's Q3 Dealer Sentiment Index (more dealers view the market as weak) yet also strong quarterly sales over the summer, we sit down with Cox chief economist Jonathan Smoke for a look at what's in store for dealers in Virginia and nationwide.
Links to stuff we talk about:
Coxâs Q3 sales insights Coxâs Q3 Dealer Sentiment Index and Q3 Sales/Insights call DJ Smoke's fall playlist on Spotify -
Fresh off his first 100 days in the role, we sit down with Virginia Department of Motor Vehicles Commissioner Gerald Lackey.
Stacked with a Ph.D. in social psychology and a career background in business transformation and operational efficiency, Gerald discusses his vision for the state agency, the challenges it faces, and how he's working to âunlockâ hidden talent around the newly energized 2,000-employee statewide organization. We also chat about about electrification, the DMV mainframe, a new DMV website, the history of DMVs, and even digital license plates. Finally, Gerald touches briefly on topics pertinent to dealers â and of course, youâll learn what kind of car he drives.
Follow Gerald on LinkedIn -
We talk to auto tech titan Steve Greenfield of Automotive Ventures for his take on the state of the retail auto industry today, in a year, and in 10 years. Steve also dives into EV demand (or lack thereof?), the opportunity for service teams with over-the-air updates, the impact of emerging tech and A.I. on dealerships, and the surprising popularity of vehicle feature subscriptions.
And are you looking to invest in auto-tech startups? Steve outlines a few to keep an eye on.
Steve will speak to Virginia dealers at the VADA Annual Convention from June 19-22 at The Greenbrier.
You can also grab Steve's latest (and tightly written!) monthly intel reports on his website.
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Virginia is making industry headlines these days as the Commonwealth's auto dealers prepare to address the many "Auto Manufacturer-Controlled" sales models proposed by OEMs. This podcast offers a preview of that legislation and is a recording of a presentation given to dealers in December 2022 by VADA President and CEO Don Hall, along with VADA General Counsel Anne Gambardella.
If you'd like to view this presentation, watch it here.
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Audrey LaForest is a reporter covering automotive policy and regulation in Washington D.C. for Automotive News. She's dug in, starting in a new role in a new town just days before COVID shutdowns. So where should dealers have their eyes focused in D.C.? In just 10 minutes, Audrey walks us through the latest in EV tax credits, FTC proposals, and emissions rules. Also features an appearance by her cat, Fiona.
See Audrey's latest work at Automotive News. Follow Audrey on Twitter. -
Bloomberg Intelligence's Kevin Tynan attended the VADA Annual Convention this week in Asheville, N.C. and spoke to dealers from both Virginia and Kentucky. He lays out the case for why declining volume and inventory isn't a result entirely of the pandemic. In fact, he says, it's "orchestrated by the manufacturer."
And there may be no going back.
Note: During the session, Kevin showed a presentation with various charts and graphs. If you are able and care to do so, you can follow along on the podcast and the presentation by viewing or downloading it here.
If you are not able to view the presentation, Kevin nonetheless does a great job of explaining the context of each slide so that you are still able to follow along.
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"In my 20-plus years of doing this, this is the most dynamic time in the industry...theree are metrics and data points reading in ways I never thought I would see."
In advance of his appearance at VADA's 2022 Annual Convention, Bloomberg Senior Automotive Analyst Kevin Tynan talks about one of the most disruptive period in the auto retail industry...as well as his 2001 Mercedes-Benz V12 Roadster.
See Kevin's Roadster (exterior and the V12).
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A fun show for you today: Paul J Daly and Kyle Mountsier, the co-hosts of The Automotive Troublemaker podcast and co-founders of the Automotive State of the Union (ASOTU).
Paul and Kyle (along with their hip flat-brimmed hats and beards) will grace Virginia dealers in Asheville, N.C. at the VADA Annual Convention, June 19-22.
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Podcast Sponsored by ACV Auctions.
In Part 2 of Glenn Mercer's talk, we open the doors and walk outside the dealership and discuss connected cars, EVs, autonomous vehicles, ride-sharing, and more.
> Get Part 1 on Apple, Spotify, Google, or on the web.
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Podcast Sponsored by ACV Auctions.
Automotive retail expert and industry analyst Glenn Mercer met with Virginia auto dealers virtually in April 2022 for a wide-ranging, in-depth discussion. In Part 1, Glenn covered "Inside" dealership topics such as volime, F&I, consolidation, and profitability.
Parts 2 and 3 (a Q&A) will release in coming days.
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We sit down with VADA's legislative team, led by President & CEO Don Hall, along with Anne Gambardella (EVP and General Counsel) and Ralston King (VP Legislative Affairs). They offer a broad overview of the environment at the Virginia State Capitol over the last 60 days, as well as updates to key dealer-focused legislation.
Links:
The 2022 PAC Campaign: www.vada.com/pac22
Register for the 2022 Convention in Asheville, N.C.: www.vada.com/convention
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The man, the myth, the legend...THE Glenn Mercer, retail automovie industry analyst joins us for a chat on the latest trends in the industry.
Glenn addresses the recent article, "Big U.S. auto dealers bet billions against the death of the dealership" regarding consolidation, EVs, autonomous vehicles, and more.
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Ralston King is VADA's VP of Legislative Affairs, and joined High Octane to provide the latest on dealer legislation as well as updates on important general legislation moving to the finish line in Virginia.
To get straight to the dealer-focused bills, skip to 4:35.
Read the full Capital Briefs report Give to the VA Auto Dealers PAC -
This is our first audio podcast covering the latest (last week's) happenings in the General Assembly. You'll learn the latest on our successful warranty/recall bill (though no rest until it's official!), the status of EV rebates, and more.
Links we mention in this podcast (aka our SHOW NOTES):
Get the full Capitol Briefs report for Week 7 and get more detail on dealer-focused bills See which Virginia dealers are part of the Virginia Auto Dealers PAC Governor's Club (at least $2,000 in first year and $1,500 every year thereafter) Give to the Political Action Committee -
Bloomberg Intelligence Global Director of Automotive Research Kevin Tynan talks the chip shortage, EVs, and shift in retail â "The three things I talk about all day every day," the Tynan told a crowd at the VADA 2021 Convention in June. He also ensured the photographer on staff would capture everyone giving him a standing ovation.
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