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SEASON 7 | EPISODE 3
Join host Derek D as he sits down with Jake Pollack, a Partner at the Shackelford, Bowen, McKinley & Norton law firm and Dave Cantin, the CEO of the Dave Cantin Group. Dave and Jake uncover the misconceptions and importance of succession planning in the automotive industry, addressing not just immediate transitions but also long-term strategies for business continuity.
Discover why succession planning is more than just preparing for a sudden exit and why dealer principals need a plan in place to safeguard their legacy and ensure a smooth transition for future generations or potential buyers. Learn from real-life examples and gain valuable insights on assembling the right team and initiating the process effectively.
If you're an automotive executive or dealership owner, this episode is a must-listen.
Episode Highlights:● Why Jake says delaying the creation of a succession plan can lead to complications and missed opportunities and therefore prefers to create plans as soon as his clients acquire a dealership or business.
● Jake’s advice on assembling the right team of professionals, including attorneys, CPAs, and financial advisors, to ensure a comprehensive and effective succession plan.
● Planning for voluntary and involuntary transitions, such as retirement or unforeseen events like incapacity, to avoid disruptions and maintain business continuity.
● How life insurance, private investments, or other assets can be utilized to equalize value among family members involved in the business, ensuring fairness and clarity in the succession process.
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Join host Derek D as he speaks with Paul Mumma, a Partner at Kaiser Associates covering Private Equity and M&A, and Dave Cantin, the CEO of the Dave Cantin Group.
Derek, Dave, and Paul dive into the DCG Market Outlook Report, covering the 7 themes that will be crucial to 2024 including the future of EVs, M&A trends, manufacturer priorities, the political climate, used cars, and more.
Hear their point of view on what’s becoming increasingly important to a dealer’s bottom line and what will separate the ‘best’ from ‘average’ in terms of dealer performance. Learn which strategies manufacturers have to ‘reset’ and what consumers are saying loud and clear.
Listen or watch to get valuable insights and data-driven recommendations for making informed, strategic choices in 2024.
Episode Highlights:
Changing consumer preferences are leading to adaptations of new dealership strategies. Parts and service have become increasingly important, and dealers need to prioritize these areas to maintain profitability.The report also addresses the future of electric vehicles, noting that consumer interest in true battery electric vehicles (BEVs) may be plateauing. Hybrid vehicles, on the other hand, continue to gain popularity. Manufacturers and dealers need to reassess their battery strategy and consider the evolving consumer preferences.M&A trends in the automotive industry are expected to remain strong in 2024. Dealership groups are actively seeking acquisition opportunities to expand their platforms and capitalize on the historic profits of the past few years. Succession planning is also a key consideration for many dealerships, as they look to pass the torch and ensure the long-term success of their businesses.Notable Quotes from Paul Mumma:
“Interest is definitely slowing or plateauing and while there is a lot of interest around hybrids, dealers and manufacturers are going to have to rethink the battery strategy.” “You’ve seen manufacturers acknowledging that they have to reset strategy…you can’t disagree with what consumers are saying loud and clear. They can’t force them to take something at a speed they don’t want.” -
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Join Dealer News Today host Derek D. and Dave Cantin, CEO of the Dave Cantin Group, for a conversation with Grant Cardone, entrepreneur, businessman, writer, philanthropist, and founder of 10X Studios.
Get to know Grant on a personal level as takes us through his troubled past to becoming a successful sales trainer and real estate investor. The conversation takes many turns as Grant discusses his belief in discipline over motivation, his one regret in life, who he is naming as his successor, the time he got screwed when he bet the head of the Discovery Network $1M of his own money, and the need for effective communication in business. He also discusses his journey into the real estate industry and his goal of becoming the largest real estate holder in the United States (bigger than BlackRock!).
Additional Episode Highlights:
Emphasizing the importance of embracing change and being proactive in the face of industry disruptions. Grant encourages car dealers to adapt and evolve to stay ahead in the rapidly changing automotive landscape.Grant shares his personal experiences of failure and the lessons he learned from them. He emphasizes the value of discipline and persistence, even when faced with setbacks.Grant’s real estate investment journey and his goal of becoming the largest real estate holder in the United States. He shares his strategies for scaling his real estate portfolio and the potential for everyday people to invest in real estate through Cardone Capital.About Grant Cardone:
Grant Cardone owns and operates over seven privately held companies, and a private equity real estate firm, Cardone Capital, with a multifamily portfolio of assets worth over $4 Billion. He is one of the Top Crowdfunders in the world, raising over $1.3 Billion in equity via social media. He is featured on Season 2 of Discovery Channel's Undercover Billionaire, where he takes on the challenge of building a million dollar business in 90 days. Grant is also a New York Times bestselling author of 11 business books, including The 10X Rule, which led to Cardone establishing the 10X Global Movement and the 10X Growth Conference, now the largest business and entrepreneur conference in the world. The online business and sales educational platforms he created serve over 450,000 individuals and Forbes 100 clients throughout the world. Voted the top Marketing Influencer to watch by Forbes, Cardone uses his massive 16 million plus following to give back via his Grant Cardone Foundation, a non-profit organization dedicated to mentoring underprivileged and troubled youth in financial literacy.For more information visit https://grantcardone.com/
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Jay Etheridge has an eclectic educational and professional background, having studied accounting and theology and trained as a paralegal, and he brings all of these skills and knowledge to the fore in his role as brand ambassador for Combat Motors. He served as CFO for the company that would become Combat Motors before transitioning to his current role in June 2020. In addition to promoting the Combat brand and its bikes at events throughout the year, Jay also works directly with domestic and international customers, giving him a unique perspective on what motorcycle buyers want and need.
In this episode, Jay joins our host Derek D to discuss the unique 30-plus-year story and journey of Combat Motors and his own expert insights on the evolution of the motorcycle industry today. Their conversation covers why the signature design elements of Combat bikes are key to the riding experience, how the company’s bespoke scale allows for customization and personal touches even though all the motorcycles it makes are production models, Jay’s experiences personally delivering customers’ orders, and more.
Why Combat Motors continues to focus on internal combustion engines despite industry trends toward electrificationWhat Jay says it will take for Combat Motors to truly achieve international expansionJay’s perspective on the pace of electric vehicle adoption and what will be the tipping points for mass electric vehicle ownership
Episode Highlights:
"Once the technology is there, that I can charge my car and my batteries as fast as I can fill up my tank with gas, then the technology is ready."— Jay Etheridge
|| Dealer News Today is a Dave Cantin Group production
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Originally from “a wheat farm in the middle of nowhere” in Montana, Tyler Corder was an employee of GM Financing when he was transferred to Nevada and met the Findlay family - the rest is history, as he joined Findlay Automotive Group in 1994 and has been there ever since. Now working as both the CFO and COO of the company, Tyler has seen Findlay grow from four dealerships to 35 across Nevada, Arizona, Utah, Idaho, and Washington. Tyler has served in leadership roles for many charitable organizations, such as the American Red Cross of Southern Nevada and the Leukemia and Lymphoma Society, and he is currently on the boards of the Vegas Chamber of Commerce and the Foundation for an Independent Tomorrow.
In this episode, Tyler and our host Derek D discuss how geographic clustering has made operations easier for a large automotive group like Findlay, the effects that the UAW strike at the Big Three automakers’ factories could have on multiple aspects of the retail automotive business, and the unusual experiences that can happen at a Las Vegas car dealership. Plus, they take a deep dive into the current state of the automotive supply chain, cover affordability issues raised by interest rates, and more.
Findlay Automotive Group
Why many car manufacturers have switched their incentives from purchasing to leasingWhy Tyler says the EV sector is currently a creation of the federal and state governments and tax programs rather than a consumer-driven industryHow Findlay Auto Group is less tightly structured than public dealership groups of a similar size - and how that’s an advantage in terms of attracting talent
Episode Highlights:“It’s important that of the limited numbers of vehicles that are being shipped, we’re getting our share or more than our share.”
— Tyler Corder
|| Dealer News Today is a Dave Cantin Group production
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Western Pennsylvania native Mike Lanciotti has been interested in RVs since his family had one in his childhood, and now oversees major specialty vehicle manufacturer REV Group’s recreational vehicle segment, primarily based in Indiana. Mike’s responsibilities cover all seven of REV’s RV-related brands, including Renegade RV, for which he served as president and CEO for almost eight years until the company was acquired by REV. His work helped shape Renegade as a premier name in Class C recreational vehicles as well as one of REV Group’s top brands. Mike holds his executive MBA from Baldwin Wallace University and a bachelor’s degree in accounting and mechanical engineering from Thiel College.
In this episode, Mike joins Derek D for an enlightening discussion about a lesser-known but very important part of the dealer-based industries. The conversation covers how the RV industry is reacting to reduced demand following big spikes at the height of the pandemic, how manufacturers adapt to wider consumer trends, and why making RVs more usable and more homelike is the wave of the future. Plus, Mike discusses nationwide RV dealership consolidation, the importance of lithium batteries and solar power in the industry, and more.
Mike Lanciotti | Renegade RV
The major barriers to RVs using the same kind of batteries as electric passenger carsWhy travel trailers are the leading indicator of the health of the RV industry overallWhy positive word-of-mouth is so important for RV dealerships, and how the industry is working to improve customer experienceWhat makes RVs a great option for travelers who have a chronic health condition or disability
Episode Highlights:
“To me, it’s important that we have the teams in production turn the dials in slow ways - ramp up slow, ramp down slow.”— Mike Lanciotti
|| Dealer News Today is a Dave Cantin Group production
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Mike Ferrer is based in Charleston, SC and has over 20 years of experience in high-level commercial real estate, having worked with major corporations such as Bank of America, PNC Bank, and Home Depot. He is designated as a Certified Commercial Investment Member (CCIM) and Master of Corporate Real Estate (MCR), and is bilingual in English and Spanish. Prior to joining Hickey and Associates, he held roles including broker-in-charge for the state of South Carolina at Lincoln Harris.
In this episode, Mike joins our host Derek D for an insightful conversation on the future of automotive retail and the role of commercial real estate in shaping it. They discuss how federal and state regulations will be the biggest drivers of EV adoption at the dealership level, why quick reaction to trends is crucial, and why electric vehicle viability will vary dramatically according to consumers’ locations and the kinds of jobs they have. Plus, the discussion covers the long-term effects of the CHIPS act on the automotive industry, searching for a viable vehicle power source beyond electricity, and more.
Mike Ferrer | Hickey and Associates
How the government incentives that Hickey and Associates tracked rose fifty-fold as a result of the COVID-19 pandemicWhy the relative silence of EVs compared to internal-combustion cars can cause safety issuesThe importance of finding secondary uses for electric vehicle batteries
Episode Highlights:“There’s going to be a certain amount of pain pushed down to the dealers for EVs.”
— Mike Ferrer
|| Dealer News Today is a Dave Cantin Group production
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Originally from Germany, Philipp Kampshoff was educated in institutions around the world from Singapore to Argentina and, in the process, now speaks three languages. He holds a Ph.D. in finance from RWTH Aachen in Germany and joined McKinsey & Company right after graduating college, where he now works as a senior partner in the company’s Houston, TX office. Philipp co-founded the McKinsey Center for Future Mobility (MCFM), and has recently worked with multiple OEMs to develop large-scale autonomous driving projects. He has also consulted for major cities including Dubai, Chicago, and Paris on their future-mobility plans.
In this episode, Philipp joins DNT to share his expert knowledge on future vehicle technology, particularly autonomous mobility. He and Derek D discuss the automotive industry’s evolving views on the timeline for level 4 autonomous vehicles (so-called full auto), what factors will predict the profitability of robotaxi services, and why we’re still a long way from having autonomous aviation. Plus, their conversation explores autonomous trucking, operating robotaxis and similar services in the congested streets of major cities, and more.
Philipp Kampshoff
Why robotaxi services will likely be much more prevalent in warmer citiesHow autonomous driving will give working people an hour of time back per day on averageWhy Philipp thinks the second half of the 21st century will be a turning point for autonomous vehicles
Episode Highlights:“It is hard to find an industry that is not impacted by future mobility trends.”
— Philipp Kampshoff
|| Dealer News Today is a Dave Cantin Group production
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LeGrand Crewse is the co-founder of Southern California-based electric personal mobility company SUPER73, and in 2019 took on his current role as CEO. LeGrand has over a decade of experience in the electric bicycle industry, from deciding to build his own e-bike until today. His background also includes corporate management, Li-Ion battery development, and international supply chain management. LeGrand holds both his BS in business management and his MBA in international business from Arizona State University in his native state.
In this episode, LeGrand joins Derek D for a lively conversation about a quickly-growing segment of the electric vehicle world. They discuss how LeGrand’s interest in electric mobility came from his own frustrations with his commute, how SUPER73 is pioneering bringing e-bikes to a younger crowd, and what it takes to interest new riders into powered two-wheeled experiences. Plus, the conversation covers how e-bike riders have been able to fly under the radar in many ways, why LeGrand is concerned about potential regulation, and more.
SUPER73
How e-mobility products have recently seen success outside of traditionally strong areas like urban cores and coastal townsWhy SUPER73’s name partially comes from a late-20th-century economic crisisHow offering their products in surf shops and other lifestyle stores has opened up new demographics for SUPER73The ways SUPER73 is aiming to deliver the cool factor of motorcycles without the intimidation for first-time riders
Episode Highlights:
“E-bikes feel like being in a video game with a cheat code.”— LeGrand Crewse
|| Dealer News Today is a Dave Cantin Group production
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Born-and-raised Michigander Eddie Hall III says his favorite thing to do in elementary and middle school was help his father at the family’s car dealership on weekends. Eddie obviously took to the family business, and is now the COO for all of Hall Automotive Group and a partner and dealer principal at Feldman Ford of Detroit. Eddie sits on the boards of multiple prestigious industry associations, including the Ford and Chrysler Minority Dealer Associations, and was recently elected president of the NAMAD NextGen Group. He also participates in outreach programs for his alma mater, the Ross School of Business at the University of Michigan.
In this episode, Eddie joins Derek D to discuss applying the lessons learned from recent auto industry upheavals - including finding happy mediums in terms of both vehicle supply and the transition to electric vehicles. Eddie talks the ways in which automotive retail still needs to modernize in order to be most effective, why every dealership is at the mercy of different suppliers regardless of brand, how OEMs are steadily lowering order-to-delivery time for customers, why the industry is shifting from “just selling cars” to creating customer experiences, and much more.
Eddie Hall III
Why Eddie is excited about US investment in microchip infrastructureHow poor promotion of the skilled trades has led to a nationwide shortage of automotive technicians - and what can be done about itThe ways in which a family business can play to everyone’s strengthsHow the COVID-19 pandemic pushed the automotive industry to improve its digital processes, and what work remains to be doneWhy many households will have “split garages” in the near future
Episode Highlights:“We in the automotive industry have to be one of the most antiquated industries out there.”
— Eddie Hall III
|| Dealer News Today is a Dave Cantin Group production
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Liza Borches has come back to Dealer News Today after her memorable Season 4 appearance! Since that time, Carter Myers Automotive has added three new rooftops, for a total of 23 dealerships in Virginia and West Virginia. Liza’s many accomplishments and awards speak for themselves, but she’s especially proud of the vital community service that Carter Myers has been able to accomplish under her leadership, such as the Driving Lives Forward initiative, helping disadvantaged local families secure affordable vehicles.
In this episode, Liza reunites with our host Derek D to talk about what has changed since her first DNT episode - and what, surprisingly, hasn’t. She discusses why she initially planned for 2023 to be a year of stabilization for Carter Myers Automotive (and why that hasn’t fully been the case), why many car owners are looking to sell their vehicles through nontraditional channels, and the misconception customers may currently have about incentives. Plus, she has plenty to say about why 20-30 days’ worth of inventory is a dealership “sweet spot” and how to maintain it, the extraordinary story of a service manager at Carter Myers who is a recent 40 Under 40 honoree, and much more.
Carter Myers Automotive
Episode Highlights:
Why Carter Myers Automotive’s employee stock ownership program (ESOP) has been an advantage in acquisitionsThe single biggest surprise in the auto industry over the last yearWhat it takes to bring a local community outreach program to the national levelThe rewards and challenges to expanding a dealership group into a new state - particularly into an open pointWhy investment in service departments is now more critical than ever
“We have not seen a significant change in the used car environment in the last 12 months, and I don’t think we will for the next several years.”— Liza Borches
|| Dealer News Today is a Dave Cantin Group production
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Pittsburgh native Jeff Turley began working at PNC Bank two weeks after graduating from college and has been with the company his entire career - he is now a 35-year veteran overseeing an auto lending team that works with over 6,000 dealerships across the country. In his current role, Jeff manages sales, marketing, credit underwriting, and a $23 billion portfolio encompassing floor plan, commercial, and both direct and indirect auto financing. He holds his BA in finance from the University of Pittsburgh, his MBA in finance and real estate from Duquesne, and is a second-degree black belt in Taekwondo.
In this episode, Jeff joins our host Derek D to talk about why indirect loans sent from dealerships make up the lion’s share of PNC’s retail automotive financing business, what makes the current supply-side problems in the auto industry completely different from the ones that arose in the 2008 recession, and why he believes “just-in-time” delivery of inventory can’t be sustained. Plus, he discusses the statistics behind the dramatic fall in incentives, how his personal interest in cars has helped him connect better with the dealers he works with, who is actually the biggest auto fan in his family, and more.
Jeff Turley
Episode Highlights:
The important market segment that isn’t served by ordering a new car weeks aheadThe reasons affordability concerns will continue if interest rates stay stableWhy manufacturer initiatives for uniformity are making dealers more cautious about what they spend on a new building
“You look at floor plan utilization and values, and dealers today are trying to be careful about how much money they put in the trade-ins.”— Jeff Turley
|| Dealer News Today is a Dave Cantin Group production
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Lifelong Seattle resident Matthew Phillips has seen Car Pros, a family business started by his father, grow from a single small used car lot into a seven-store automotive retail group operating in both Washington and Southern California and totaling $1 billion in annual sales. Under Matthew’s stewardship, Car Pros has become the top Kia retailer in the country. Matthew also has an educational background that’s as impressive as his auto industry success, including MBAs from Cornell University and Queen’s University of Ontario as well as an MA in organizational psychology from Columbia University’s Teachers College.
In this episode, Matthew talks with our host Derek D about why sticking with the Kia and Hyundai brands during tough times was rewarding in the long run, why electric vehicles may not be for everyone yet but are a great choice for many people currently, and why auto dealers therefore need to educate their customer base on electrification. They also discuss why automakers that are more vertically integrated have fared better under supply chain pressure, why Matthew’s favorite recent car is the Kia Stinger, and more.
Matthew Phillips | Car Pros Automotive Group
Episode Highlights:
How Matthew’s organizational psychology degree taught him the vital importance of change managementWhy supply chain problems go deeper than microchips - and why even paint is affectedThe “irregular situation” Car Pros dealt with regarding their recently-sold VW franchiseWhat makes customers leave dealerships with “less car than they came in for”“Normalize change in your culture - let’s make it so that change isn’t scary… let’s try to give people tools to deal with it.”
— Matthew Phillips
|| Dealer News Today is a Dave Cantin Group production
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Brett Hopkins returns to the show after his great appearance in the first episode of season 4! A medical school rejection set Brett on the career path that would eventually lead him to becoming CEO of Ken Garff Auto Group, which has over 60 dealership locations in the western US. Along the way, Brett has held many other prominent positions, including working as the CFO of the organizing committee for the 2002 Salt Lake City Winter Olympics. Brett currently lives in Salt Lake City, and he holds his MBA from Arizona State University.
In this episode, Brett joins Derek D to discuss how business has changed at Ken Garff Automotive in the year-plus since he last appeared on DNT. He discusses why his staff currently has the highest tenure rate and highest salaries they’ve ever had, how interest rate hikes pose a challenge in multiple ways, why electric vehicles are putting additional pressure on the supply of microchips, and why he prefers to tell dad jokes off the cuff rather than rehearse.
Ken Garff Automotive Group
Episode Highlights:
How the major South Korean automakers are currently managing supply chain issues better than mostWhy Brett is now getting calls from friends who need a service appointment rather than those who need a new carThe importance of Brett’s motto, “Work hard, play hard, laugh hard”Why electrification may lead some dealer principals to consider selling their businesses“We just came off some amazing years, so you have sellers trying to market their dealerships based on those amazing years.”
— Brett Hopkins
|| Dealer News Today is a Dave Cantin Group production
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Dr. Sebastian Pohlmann was born and raised in Germany and got his PhD in physical chemistry from the University of Münster, but now lives and works in Tallinn, Estonia. He started working at Skeleton Technologies in 2016 in the material development department, and quickly rose within the company while helping Skeleton win innovation grants totaling more than €60 million. Today, he works with major automakers around the world and says one of his biggest motivators is getting to see the products he helps develop actually perform on the road.
In this episode, Sebastian joins our host Derek D for a fascinating technical discussion about his work on electrochemical double-layer capacitors, more commonly known as supercapacitors or ultracapacitors. The conversation covers how the Honda CR-V “Beast” concept project first introduced Sebastian to the commercial and business development side of things, the major weakness of supercapacitors and how Skeleton’s SuperBatteries aim to correct it, why the innovation inherent in the automotive industry fascinates him so much, and more.
Dr. Sebastian Pohlmann | Skeleton Technologies
Episode Highlights:
Why vehicles as different as delivery vans and VTOL drones could be good SuperBattery use casesDeveloping a “new kind of chemistry” for capacitorsThe reasons why lead-acid batteries are on their way out and new 12-volt options will take overWhy Sebastian believes different dealerships should take the electric vehicle transition at different speeds - and the geographic factors that matter“In the end, there’s no silver bullet. You don’t have one energy storage concept that takes it all and you don’t have one drivetrain concept that takes it all.”
— Dr. Sebastian Pohlmann
|| Dealer News Today is a DCG Media production
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Boston native Bob Welby now calls Nashville home, and has been a fixture at INFINITI USA for the past three decades, having joined the company in 1997 as a Regional Operation Specialist - in fact, INFINITI has been his employer for his entire career. In his current role, Bob is responsible for a whole spectrum of INFINITI’s processes, including overseeing sales channels, customer experience, pricing and incentive strategy, and product lifecycle.
In this episode, Bob joins our host Derek D to discuss what it was like launching all-new models at the height of the COVID-19 pandemic, how softening in used vehicle equity has had a ripple effect on new-car prices, and what he learned from his experience as a ferry boat captain at Walt Disney World’s Magic Kingdom. Plus, he talks about what’s making automotive retailers go back to the “old ways” of value-based selling, how to keep customers connected to service and maintenance after the sale, and much more.
Bob Welby
Episode Highlights:
Why it’s important for INFINITI to take as much time as needed for EV developmentHow Bob knows we’ve progressed on the microchip supply issue, but aren’t out of the woods yetThe reasons why Bob loves the automotive industry even though he’s never purchased his own carWhy customers may need extra support right now, and why that might be critical to maintaining their loyalty“The biggest thing for us is giving customers the option: How do you set up the business to where they can do business how they want?”
— Bob Welby
|| Dealer News Today is a DCG Media production
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Three-decade automotive industry veteran Stephanie Brinley has serious Michigan roots, having been raised in the state and gotten her bachelor’s and master’s degrees from Eastern Michigan University and Michigan State, respectively. In her position at S&P, Stephanie oversees the development of daily analytical content in addition to special research reports, turning the constant flow of automotive industry news into something actionable for clients. A member of the Automotive Press Association, Stephanie also has past experience in supplier-based strategic communications and supplier-OEM marketing relations, among other specialties in the automotive field.
In this episode, Stephanie talks to our host Derek D about why she loves working in an industry that’s always changing and moving, how the impact of COVID-19 and the rise of electric cars have made that change even faster than she anticipated, and why registration data is so important for forecasting automotive retail. Plus, she discusses the major sources of the learning curve for new, high-tech vehicle models, the future of auto shows, why dealerships need to work on pricing and financing transparency, and more.
Stephanie Brinley | S&P AutoIntelligence
Why Stephanie is so excited about how the passion and enthusiasm inspired by cars will manifest themselves in new waysThe affordability issue and educational concerns around the increasing technology in carsWhy tablet-like interfaces in cars need to be both intuitive and expressiveHow dealers can make the in-store car buying and financing process less painful, and therefore more attractive
Episode Highlights:
“We still don’t have as many cars as we have people who want to buy them.”— Stephanie Brinley
|| Dealer News Today is a DCG Media production
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K.C. Boyce now lives and works in the Atlanta area, but was born and raised near Motown, and says “I don’t know that anyone can grow up in Detroit and not be a gearhead.” He currently applies his longtime expertise in green and renewable energy to his lifelong passion for cars in his role at Escalent. K.C. helps advise major auto industry players on the most important electric vehicle-related issues and trends, and also currently co-hosts the weekly radio show, Energy Matters.
In this episode, K.C. Boyce joins Derek D to discuss how building a new automotive ecosystem is vital to the success of EVs, the massive role emotions and design language play in an auto buyer’s decision making process, and what makes dealerships central to the transition. Plus, he shares insights about what it will take for other automotive manufacturers to obtain the EV mindshare that Tesla now dominates, why the changeover to electric cars will happen quickly despite supply chain and manufacturing issues, and more.
K.C. Boyce | Escalent Automotive
Episode Highlights:
What makes driving an electric car an overall better experience for most peopleWhy K.C. calls his work “product development writ large”.Understanding the mindset of buyers who are coming to a dealership to consider an EV for the first time, or who are on the fence about what type of car to buyHow electric cars replacing internal-combustion ones will be analogous to internal-combustion engines replacing horsesThe biggest piece of advice K.C. has for dealers on the subject of electric cars“It’s not enough to have really cool EVs if there’s no place to charge, and it’s not enough to have lots of charging if there’s no vehicles that people want to buy.”
— K.C. Boyce
|| Dealer News Today is a DCG Media production
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Karen Lellouche Tordjman has a worldwide background - born in San Diego but raised in Paris, she speaks several languages and now works in Mexico City, contributing to BCG X, the tech build and design department of Boston Consulting Group. Karen currently focuses on customer experience and digital transformation, among other major issues in the automotive industry, and has been with BCG since 2004, joining soon after her graduation from HEC Paris, one of France’s most prestigious business schools.
In this episode, Karen speaks to Derek D about helping companies make changes to their user experience with the future in mind, how OEMs and dealers will need to collaborate in the EV era, and how the role of salespeople may soon be changing. Plus, she offers insights on why dealers should pay more attention to collecting customer data, why dealers’ EV sales effectiveness will depend on OEMs’ investments, preparing for change that’s sooner than most people may have expected, and more.
Karen Lellouche Tordjman | BCG
Why EVs could lead to less-frequent service appointments that are more complex and expensiveThe piece of the multi-channel sales process that isn’t “fully cracked” yetThe ways in which automotive sales is analogous to industries like large appliances and furniture, and the lessons to be learned from that comparisonKaren’s predictions on the rise of autonomous cars, consumer-level flying vehicles, and more
Episode Highlights:“The biggest answer that we got is that ‘I want to touch the car, test the car, and hear the engine.’”
— Karen Lellouche Tordjman
|| Dealer News Today is a DCG Media production
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Pedro Correa is well-positioned for a wide view of the automotive industry, having a background that includes not only auto but also aerospace and airlines, defense, and industrial services. Based in Texas, Pedro has worked in a variety of countries in Latin America and Europe and has led global training programs for Bain & Company. Pedro earned his BA from Rice University and his MBA from Harvard Business School, and has served on advisory boards including the Emerging Leaders Council of the Federal Reserve Bank of Dallas.
On this episode, Pedro talks with Derek D about how different segments of the automotive industry are dealing with supply chain issues with different levels of success, when he predicts easing for microchip production problems and why inventory levels are rising again, and the factors that could be putting pent-up demand at risk. Plus, he discusses the factors pressuring the profit margins of major manufacturers to come down, why both consumers and entrepreneurs should be excited about the near future of automotive, and more.
Pedro Correa | Bain & Company Automotive
Episode Highlights:
The major role dealerships are set to play in driving adoption of new automotive technologiesThe single most important metric for dealership sales growthWhat will result as the transition to electric vehicles occurs at the same time as other economic pressures“As a whole, you’ve got the automakers and their dealer partners that are feeling quite good, but we’re already seeing cracks in the wall and signs that it’s going to be hard to maintain the good times forever.”
— Pedro Correa
|| Dealer News Today is a DCG Media production
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