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Dealer News Today Podcasts
20 minutes | 2 days ago
With new pricing tool, data drives used car profits
“When business is good and easy, I fear that dealers often turn away from important disciplines and strategies to make even more money.” —Dale Pollak Here comes another DNT with Derek D! Today, Derek interviews Dale Pollak, Founder of vAuto, Executive Vice President at Cox Automotive, and bestselling author of Velocity: From the Front Line to the Bottom Line. Dale delivers some extremely poignant thoughts on today’s used car market. He also talks about the insights behind vAuto’s profit-driven pricing tool, ProfitTime 2.0, which uses data to know the probability of any given used vehicle, on a given day, at a given price. Interview Highlights: A warning to anyone who thinks the environment of 2020 will be the “new normal” in automotive.Which aspects of 2020 used cars success will continue into 2021? Which aspects were temporary phenomena?In the past, we stocked used cars to sell them. Today we sell used cars to stock them— how this subtle understanding can increase your pre-owned profits. ----- Episode Sponsor: vAutois a powerful inventory management tool that helps today’s dealers run better than the competition. It is part of Cox Automotive, a world leader in Automotive Industry software, information, and innovation.
23 minutes | 22 days ago
2020-2021: Turning the Corner
“It’s incredible to see where the technology is today, and I’m excited to see where it will be in 5 years.” It’s time to reflect on the year gone by and take a look at the year to come. On today’s DNT Podcast, Derek D is joined by two guests: Dave Cantin, CEO of Dave Cantin Group (and DNT's original host), along with Charlie Chesbrough, Senior Economist at Cox Automotive. Derek, Dave, and Charlie take a look at the most important developments of 2020 and give some interesting takes on what we can expect in 2021, in regards to stimulus and the economy, as well as emerging technologies. Interview Highlights: Which two major factors boosted automotive demand in Q3-4 2020? Will they continue in 2021? Will 2021 be the breakout year for electric vehicles? If so, what will it take for a manufacturer to win the tech race and dominate the market? What other tech might move so quickly that retained value on 2021 vehicles will suffer after 3-4 years? ______________ Dave Cantin is CEO of Dave Cantin Group, the country’s leading automotive mergers & acquisitions firm. He has over 20 years of experience in the automotive industry, including as a dealership owner. Charlie Chesbrough is Senior Economist and Senior Director of Industry Insights at Cox Automotive, a world leader in automotive industry software, information, and innovation. Charlie has spent two decades in automotive and three decades in economics.
23 minutes | a month ago
The Flip Side of Sales in 2020
“If you can do these 3 things well, you put yourself in a good place to be one of the top dealers in your market.” —Brian FinkelmeyerToday— the premier of DNT with Derek D. You’ve heard his voice on episode introductions, now see what professional actor, comedian, and host Derek D brings to the table as an interviewer. Tune in to hear Derek talk with top automotive professionals twice a month on the DNT podcast.Derek’s first guest is Brian Finkelmeyer, Senior Director of New Car Solutions at Cox Automotive. Brian returns to the DNT podcast to tell his story—from moving to LA to answer phones for Nissan, to now being a leading authority in the auto industry. He also reflects on some of the major (but less obvious) impacts and insights from COVID-19.Interview Highlights:How COVID-19 has benefitted auto dealers by shifting supply and demand, and predictions for how this will (or won’t) continue post-pandemic.The one brand that leaned into the new market most effectively, to move up the ranks in the luxury market.What’s the best new sports car of 2021? (Derek and Brian agree it’s the best-ever model year for this classic car.)And much more.--------------Derek D is an actor, comedian, and host with 15 years of experience in the entertainment industry. Before becoming a host on the DNT podcast, Derek was well known in the automotive industry for hosting the award winning car news show Fast Lane Daily.Brian Finkelmeyer is Sen. Director of New Car Solutions at Cox Automotive, a world leader in Automotive Industry software, information, dealership support and innovation.
20 minutes | 2 months ago
Season 2 'Novel Thinking' Series Episode 2: Playing Inventory “Moneyball” in 2020
Trent Waybright has played scrappy and smart with his pre-owned inventory during the pandemic. It’s worked so well, the auto group is going ahead with plans for a new auto mall in 2021.We’re back for another episode of Novel Thinking with vAuto’s Randy Kobat. Today’s guest is Trent Waybright, Vice President of Pre-Owned Operations for Kelley Auto Group in Fort Wayne, Indiana.With the current challenges in new car inventory, Waybright has undertaken successful tactics in used car sales to power revenue and deliver success at this dealership during the anomalous year of 2020. In addition, his positive outlook is refreshing, as he focuses on constantly adapting and learning new lessons in uncharted territory.Highlights include:Strategies involving proactive stocking of inventory, lease turn-ins, virtual auctions, and bronze inventory in used car sales.Adapting in a pandemic, both to acquire cars online and make sure all buyers are comfortable.The one thing our guest is focused on for finishing the year strong.Interview quote:“Another focus of ours will be subprime as we head into ‘21, and from an inventory perspective, being lean and mean, taking it a day at a time.” —Trent Waybright____________________vAutois an inventory management tool that helps today’s dealers run better than the competition. It is part of Cox Automotive, a world leader in Automotive Industry software, information, and innovation.Kelley Automotive Groupis a leading auto retailer in Fort Wayne, Indiana. Now a vendor of GMC, Chevrolet, Buick, Cadillac, Ford, and Volvo, they have served the Northeastern Indiana community since 1952.
16 minutes | 3 months ago
“We’ve got a showroom full of customers.”
An Automotive Success Story in Tumultuous 2020.Today’s host, Brian Finkelmeyer of vAuto, is joined by David Barash, Director of Finance at the Detroit-area Glassman Auto Group.Brian asks some extremely pointed questions on the past, present, and future impact of COVID-19. David provides detailed and thoughtful answers, not just pertaining to his own market but in observation of national trends and opportunities.What we get is a story of success in hard times, an optimistic outlook about the future, and some valuable lessons for how to adapt, learn, and succeed as auto dealers in this rapidly changing environment.Discussion Highlights:The shift to digital retailing, and what percentages of Glassman’s customers are interacting at different levels of this new sales process.How access to information has changed the way customers interact with car dealers.Why during COVID, we do less “selling” and more consulting – and how this is an opportunity for dealers to more deeply understand the customer experience.“I challenge every dealer out there to jump on that wagon, because if you don’t, it’s just gonna drive by and pass you.” — David BarashCox Automotive is a world leader in auto industry resources and information, providing information, platforms, and systems to enhance the automotive retail experience. Among them is vAuto, a leading resource that solves inventory challenges for dealerships across the United States.Glassman Auto Group is a leading automotive retailer that sells new Kia, new Hyundai, new Genesis and new Subaru, as well as pre-owned vehicles. Based in Southfield, Michigan, they have served the Detroit-area community since 1969. David Barash is Director of Finance at Glassman, giving him unique and deep insight into many aspects of the current American auto industry.
21 minutes | 3 months ago
Season 2 'Novel Thinking Series' Episode 1 - “You have to trust the data. You have to trust yourself.”
Introducing “Novel Thinking” w/ Randy Kobat of Cox Automotive – Today with Independent Dealer Bradley BerndtWelcome back for Season 2 of the DNT Podcast! We’re proud to kick off the season with a new series: Novel Thinking with Randy Kobat of Cox Automotive.Today’s interview is with Bradley Berndt of Green Bay, WI. Berndt first visited the DNT podcast in April, when the COVID-19 was still new. Now that the world and the auto industry are relatively acclimated to the pandemic, Randy and Bradley look back on the past six months to analyze lessons learned and talk about charting the path forward, plus what Bradley calls “The Great Pause” and how it’s helped him increase sales year-over-year in 2020.This episode is packed with value. Bradley Berndt has a sharp mind for dealership decision making, and he drops golden nuggets of insight about every thirty seconds. Listen closely, and you might want to take notes.Interview Highlights Include:How our guest has filtered out deluge of irrelevant data to stay focused on what is relevant and valuable to his business.The pros and cons of digital retailing, at the start of the pandemic vs. todayWhat are the little details and data points that, if you know how to recognize them, will add up to success in hard times.“I need to pay attention to what’s happening in my world today and only today.”— Bradley Berndt, Independent Auto Dealer--------------Bradley Berndt is the owner of Auto Haus on Velp, a dealer of pre-owned luxury vehicles in Green Bay, Wisconsin that values Integrity, Quality, and Respect.Cox Automotive is a world leader in Automotive Industry innovation and information, “delivering inspired results to bridge the gap between consumers, manufacturers, dealers and lenders at every stage of the automotive experience.”
29 minutes | 6 months ago
Cox CEO Steps Down, Exclusive interview
Sandy Schwartz Discusses Moving On After 35 Years Leading Cox AutomotiveFor the automotive industry, this feels like a sports legend leaving the game. Sandy Schwartz has led Cox Automotive through a myriad of victories with grace and style. Acquisitions during his tenure – Autotrader, Kelley Blue Book, and many more – grew the company to 35,000 employees and continue to lead the industry’s digital transformation. Now Sandy takes a bow. DNT is honored to present his first interview as he ends a historic run as Cox Automotive CEO. Highlights – Sandy Schwartz Talks About:Over three decades at the helm of Cox Automotive, and the company’s monumental success during his time as CEO. Wisdom on leadership – with priceless perspective for anyone looking to advance their career. Looking ahead to his next role at Cox Enterprises, as CEO of Cox Family Office. Episode Quote: “You better be a progressive leader, you better be willing to take chances, you better embrace technology, and you better understand your customer.” — Sandy Schwartz --------------Episode Sponsor:DCG — We’re more than just dealership brokers. DCG Acquisitions is the automotive industry’s most successful dual agent acquisition specialist. DCG Capital takes you beyond the acquisition, with lender relationships that provide floor plan financing, reduced interest rate loans, and other powerful tools to sustain and grow your dealership business.
26 minutes | 6 months ago
“Our Business is Changing.” Adapting to Digital Sales with Mark Vickery, Senior Director of Performance Management at VinSolutions.
An interview with Mark Vickery, Senior Director of Performance Management at VinSolutions. Mark Vickery is an expert in CRM systems for auto dealerships. He meets with dealers every day to help optimize their technology and operational investments. In the current market environment, these systems are more crucial than ever. Mark recently wrote an article about the road to digital adoption at dealerships and how technology decisions might make or break the future of your car dealership. He brings that expertise and perspective in today's conversation with Dave and Andy. Interview Highlights:Where are the 3 categories of customers adapting to digital car sales? How are CRMs changing to better capture online customers? Why will dealers suffer if they don’t adapt? How can dealers thrive by adapting ahead of the game? --------------Episode Sponsor: DCG Acquisitions — DCG Acquisitions is the automotive industry's most successful dual agent acquisition and growth specialist. For more information and to view their collection of premier dealership listings– Contact DCG Acquisitions today.
27 minutes | 6 months ago
How an Industry Veteran Is Turning the Pandemic into Record Sales
Host: “This is part of the new normal. This is now the future.”Guest: “And it behooves us to be aware and capitalize on it.”An interview with Stephen Wade, Founder of Stephen Wade Auto Center in St. George, Utah. Wade and his company have thrived during the COVID-19 pandemic, turning the crisis into perhaps Wade’s best year of nearly a half-century in the car business.Interview Highlights:How did Stephen Wade Auto Center play the new and used car markets to thrive during the pandemic?How does Wade predict markets will shift in fall 2020, and how is he preparing his company for what comes next?Does Wade believe it’s time for dealership owners to be in “acquisition mode” for new franchises?Plus: Wade pays tribute to long-time business partner Robert Garff, as he tells the story of how they got started together in the auto business.--------------Episode Sponsor:DCG Capital - DCG Capital’s lender relationships can provide new car dealers with working capital loans, floor plan financing, mortgage loans, and other reduced interest rate financing at historically low rates. Contact DCG Capital Today.
24 minutes | 6 months ago
“It’s All About Saving Time, Effort, and Energy That Comes Back to Your Bottom Line.”
"It's an absolute no brainer ... We have to continue to digitize, to find these solutions that we're able to use easily."Today’s interview is with Joey Yates, Senior Director of Business Operations at Dealertrack, and Tab Edmundson, VP of Client Solutions at IAA Total Loss Solutions. Their organizations have partnered to build digital tools, plus a network of insurance providers and auto lenders, that streamline complicated auto sales and add huge gains to dealerships’ bottom lines.Interview Highlights:How can successful partnerships combine resources to have an industry-changing impact?How do the right digital tools save time, create sales, and lead to greater profits?What are the data that show these tools are now more critical than ever to car dealers?--------------Episode Sponsor: DCG Acquisitions — DCG Acquisitions is the automotive industry's most successful dual agent acquisition and growth specialist. For more information and to view their collection of premier dealership listings– Contact DCG Acquisitions today.
30 minutes | 6 months ago
Exclusive advice: The market is sliding back. Car dealers need to prepare. Jonathan Smoke − Chief Economist, Cox Automotive
After a rapid industry recovery, “the next 3-6 months could see some reversing trends as COVID-19 cases grow and threaten the industry.”Our interview with Jonathan Smoke, Chief Economist for Cox Automotive, contains amazing insights on factors that led to record setting sales in May and June, along with reasons to be cautious as the industry’s recent gains are likely to recede in the coming months.Episode Highlights:What are “the 4 C’s” that led to unprecedented gains in May and June?How should dealerships act now that the 4 C’s (and the car market) are declining again?This presidential election may be the most volatile in our lifetimes. How will it affect the auto industry?--------------Episode Sponsor:DCG Capital - DCG Capital’s lender relationships can provide new car dealers with working capital loans, floor plan financing, mortgage loans, and other reduced interest rate financing at historically low rates. Contact DCG Capital Today.
26 minutes | 6 months ago
Understanding critical inventory windows - Randy Kobat, VP Inventory Mngmt. Cox Automotive
“Dealers need to fully understand inventory windows going into the future.”Inventory is the hottest topic in the auto industry today. Dealers are facing huge challenges meeting demand and managing inventory levels. Today we interview inventory expert Randy Kobat.Randy Kobat is vice president of operations for Cox Automotive’s Inventory Management Solutions which includes vAuto, Kelley Blue Book Instant Cash Offer, and Rebates & Incentives businessesInterview Highlights:There is still a lot of uncertainty for the remainder of 2020. What dealers need to watch out for just over the horizon.There is a very tight correlation between home sales and car sales and there is a reason dealers need to pay attention to those metrics.What the OEMs didn’t understand about the pandemic and helping dealerships manage and maintain inventory levels. Why dealerships are struggling to find quality used cars.--------------Episode Sponsor:LoanerToOwner - The only website dedicated to helping dealers promote and sell their loaner car inventory. Visit LoanerToOwner.com to get your inventory listed now!
29 minutes | 6 months ago
Are we just waiting for Jeff Bezos to come in and take over online auto retail?
Can you truly automate the car buying process 100%?An interview with Steve Zabawa, Co-Founder Rimrock Auto Group & WebBuy,. WebBuy is the oldest digital retailing company, and truly designed to sell a car at 11 pm with no humans! Truly automated the car buying process.Interview Snippets:Dealers are going from 1 to 25% of deliveries outside of the dealershipDigital retail companies are getting intense pressure from the manufacturers to get dealers fully onlineConsumers are demanding a better and faster process to buy a car.--------------Episode Sponsor:LoanerToOwner - The only website dedicated to helping dealers promote and sell their loaner car inventory. Visit LoanerToOwner.com to get your inventory listed now!
22 minutes | 7 months ago
If you don't have a person of color around the table, you have an issue- Damon Lester. NAMAD
“Look at your leadership and if you don't have a person of color around the table, you have an issue.”A conversation that must be had. An interview with Damon Lester. President, National Association of Minority Automobile Dealers (NAMAD)Interview Snippets:How is the automotive industry overcoming racial issuesMinority consumers have greater than 30% buying power What is being done about the lack of parity in ownership--------------Episode Sponsor:LoanerToOwner - The only website dedicated to helping dealers promote and sell their loaner car inventory. Visit LoanerToOwner.com to get your inventory listed now!
22 minutes | 7 months ago
“It’s time for Floor Plan Compensation” Brian Finkelmeyer, Sr. Dir. vAuto
“It's very simple, it's time to think like an investor.”Listen as Brian Finkelmeyer, Senior Director, vAuto gets deep in the weeds with one of the most concerning topics in the auto industry - new car inventory.Interview SnippetsInventory in the US is down over 1 million cars!If there ever was a time to hone in on new car inventory management, that time is now.One of the biggest lessons learned is that inventory must be managed better.Why manufacturers need to change their allocation processes. A high percentage of dealers suffer from "recency bias" when ordering inventory. Is it time to change to floor plan compensation to better control inventory and profitability.--------------Episode Sponsor:LoanerToOwner - The only website dedicated to helping dealers promote and sell their loaner car inventory. Visit LoanerToOwner.com to get your inventory listed now!
37 minutes | 7 months ago
“It’s time to be human at your core!”. Sandy Schwartz, CEO, Cox Automotive.
“We’re witnessing the digitization of an entire industry. Can we really be omnichannel”A one of a kind interview with an automotive industry leader. Listen as Cox Automotive President and CEO, Sandy Schwartz gives a passionate address to dealers and the entire automotive community, in a way that will make you proud to be part of such a great industry. Interview Snippets“Shame on us if we backslide!”“We need to be human at our core and do a better job!”“Dealers are going to need to find more places to monetize”“Consumers now have a Zappos mentality”--------------Episode Sponsor:Dave Cantin Group - One of the industry’s most successful dealership brokers. View current listings of dealerships for sale.
24 minutes | 7 months ago
“Thankfully we’re still doing Friday Fish Frys” - Mike Darrow, Pres, Russ Darrow Group
“There is nothing we can’t or won’t do” Mike Darrow, President, and COO, Russ Darrow Group.An interview from the heartland of America with automotive veteran Mike Darrow, President, and COO of Russ Darrow Group.--------------Episode Sponsor:Dave Cantin Group - One of the industry’s most successful dealership brokers. View current listings of dealerships for sale.
30 minutes | 7 months ago
“Don't miss this opportunity to bring up the next young leaders.” Rob Cochran, #1 Cochran Automotive.
An enlightening interview with Rob Cochran, President, and CEO at #1 Cochran Automotive.23 dealerships across 18 Brands in the western Pennsylvania area.“You have to have a marathon mentality”“We're not going to win or lose in a short period of time”“Don't miss this opportunity to bring up the next young leaders”Episode Sponsor:Dave Cantin Group - One of the industry’s most successful dealership brokers. View current listings of dealerships for sale.
20 minutes | 7 months ago
“You only think you know what’s going to happen next!” Interview w/ Mario Murgado
An interview with 40+ year veteran of the Automotive Industry, a powerhouse in the automotive world, Mario Murgado. “Way too often we rely on the past to make decisions, well you can’t do that anymore”--------------Episode Sponsor:Dave Cantin Group - One of the industry’s most successful dealership brokers. View current listings of dealerships for sale.
22 minutes | 7 months ago
“Can buying a car be as easy as ordering a pizza?” Interview w/ Bernie Moreno
An interview with a legend in the automotive industry, 30-year automotive veteran, Bernie Moreno. “The manufacturers will be the bottleneck when it comes to a100% virtual sales model”“There is a perfect storm coming”--------------Episode Sponsor:Dave Cantin Group - One of the industry’s most successful dealership brokers. View current listings of dealerships for sale.
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