Used Car Dealer Podcast Used Car Dealer Podcast

In this episode of the Used Car Dealer Podcast, Zach is joined by Jeff Martin, CEO of NIADA, for a preview of the upcoming NIADA Convention 2023, they touch on key topics like regulatory compliance, overcoming used industry challenges, building stronger dealerships, and networking with federal agencies.

Some of the questions asked include:

Q) Why should someone think about attending the NIADA Convention this year?

Q) Who should be brought from the dealership to this event? General manager, finance manager, who else should attend?

Q) How long have you been involved with NIADA and attending their conventions?

Q) What is different about this year's expo for dealers?

Q) What can dealers expect to gain from the convention and Expo that will help them create a near immediate positive impact at their dealership?

Q) Could you tell us a little more about what else attendees can expect from NIADA and the Expo Hall?

Q) What excites you about the outlook for the used car marketplace this year?

Q) What are some other events in 2023 that NIADA puts on?

Q) If a dealer is listening and they're not yet a member of the NIADA, why should they join?

Q) How do they sign up for their pass to go to NIADA?

Listen to our other podcast episodes: https://www.sellyautomotive.com/podcast
Transcribe of this podcast - https://blog.sellyautomotive.com/blog/jeffm/may2023

In this insightful and special 50th UCDP episode, Zach has a conversation with industry expert and investor Steve Greenfield about the fast-changing automotive landscape. They delve into timely topics, such as electric vehicles, OEM subscription-based features, autonomous technology, and digital retail, providing valuable insights into the industry's evolution.

Some of the questions asked include:

Q) Steve, it's been quite a while since we last had you on the podcast, and you've accomplished some incredible things with Automotive Ventures and the Dealer Fund. For our listeners who may not be as familiar with your recent work, could you share some of the standout highlights from the past year?

Q) During the pandemic, online used car dealers like CVNA took the public markets by storm, but since then, several of these online used car dealers (Vroom, Shift) are down over 90% since pandemic highs; what's the outlook for these sort of companies? From my perspective, Carmax is winning that niche right now.

Q) When you look at the automotive software companies that have started raising at a seed stage post-pandemic, what are some of the interesting problems they are solving in the auto tech/mobility space?

Q) I heard you speak at NADA this year, and you talked a little about the EV space; what's your perspective on some of the disruption in the service side of the auto industry, specifically BEV and over-the-air updates?

Q) Autonomous tech has been a hot topic in the industry for over a decade; at one point, Elon predicted we would have 1M Tesla Robotaxis by 2020; from your view, where are we with autonomous tech?

Q) ChatGPT has become the fastest-growing consumer software product to date. As an investor, what are your thoughts on AI’s potential implications not only for auto software products but also from a (data) inventory pricing or trade appraisal perspective?

Q) Saas and Subscriptions are eating the world. When BMW announced features like heated seats were to be sold to consumers on a subscription model, it created a lot of buzz. What’s your perspective on subscription features in a car, and what does that mean for the used car side of the business once that new car with a subscription is sold to the next buyer?

Q) Digital retail was a big buzzword during the pandemic, and there was a lot of interest from dealers on how they could sell inventory online via one of these tools. Roadster was a big winner of this movement, but some of the other DR tools have since then shuttered; what’s the next iteration of DR in this industry beyond the e-commerce widget?   

Q) What headwinds do you see coming down the pipeline for traditional new and used car dealerships?

Q) What automotive innovation are you most excited about that you saw at CES this year?

Q) You are closing a fund at the end of the month; tell us about that and how accredited investors can join. (If allowed / ok to ask)

Q) Lastly, you are an amazing speaker and a Delta million miler which means your 2nd home may be a Delta One plane seat; what are some upcoming industry events dealers or allied industry listening can see you speak at?

Listen to our other podcast episodes: https://www.sellyautomotive.com/podcast
Transcribe of this podcast - https://blog.sellyautomotive.com/blog/steveg/april2023 

In this episode of the Used Car Dealer Podcast, Zach interviews Paul Daly & Kyle Mountsier of ASOTU, two experts in the automotive industry. They discuss the future of digital retail, direct-to-consumer models, the BEV market, Carvana, impact of high prices and interest rates and other timely automotive topics.
Some of the questions asked include:
Q) How did you get into the business for the benefit of listeners who may not be familiar with you?
Q) After your successful exit from the auto industry, what lessons did you learn and how have you applied them to ASOTU?
Q) How did the idea for ASOTU come together during the pandemic? Can you also talk about the evolution of the brand, including the recent addition of swag?
Q) In terms of building your dealership brand online, what do non-group auto dealers often get right and wrong?
Q) How do you think dealers will change their approach to digital retail and online car shopping post-pandemic?
Q) What are your thoughts on the direct-to-consumer model for new car dealers, and does it depend on the brand?
Q) With Tesla increasing discounts, a decrease in search volume, and lack of nationwide infrastructure, what do you think about the future of the BEV market as revealed by the KBB Brand Watch Report?
Q) What are your thoughts on the future of Carvana as a brand, especially in light of its stock dropping over 95% in the last 2 years? What about the vending machines?
Q) As new vehicle prices remain high and interest rates climb, how do you think this will impact the auto marketplace in 2023, and beyond, for both new and used cars?
Q) What is the most exciting thing about the future of automotive retail for both of you personally?
Q) Lastly, can you give us an idea of what to expect from ASOTU in the future, especially since you're currently raising funds through Automotive Ventures?


Listen to our other podcast episodes: https://www.sellyautomotive.com/podcast
Transcribe of this podcast - https://blog.sellyautomotive.com/blog/asotumar23

In this episode of the Used Car Dealer Podcast, Zach interviews Dale Pollak, the Founder of vAuto and one of the most well-known speakers and authors on inventory management. They discuss used car inventory management, trends, challenges, opportunities, and other related topics for dealers

Some of the questions asked include:

Q) What is your background and can you tell us about the founding of vAuto for those who may not be familiar?

Q) How has the vAuto product set evolved from the original product you founded to the suite of products today, including the Global Acquisition system inside ProfitTime GPS?

Q) What were some of the top industry trends and discussions you heard at NADA, and what is top of mind for industry movers and shakers like yourself as it relates to the used car industry?

Q) What factors do you believe have contributed to the recent strength in used vehicle sales, and why is the data a "head-scratcher"?

Q) What are the factors that are likely to affect the market in the near future?

Q) How has your view of inventory management changed post pandemic?

Q) How can dealers achieve more consistency and fewer disconnects between appraising and pricing?

Q) What are your thoughts on preowned EVs, and should dealers approach inventory management differently with these vehicles?

Q) At what point (ex. vehicles sold per month or on lot) should a used car dealer consider using ProfitTime GPS software to scale their business?

Q) What are some key takeaways for dealers interested in reading your most recent book, "Whole Truth: A Fresh Money-Making Method to Wholesale, the Most Misunderstood Side of Your Business"?

Q) What can we expect from vAuto and the Cox Inventory team in terms of new developments or products for 2023?


Listen to our other podcast episodes: https://www.sellyautomotive.com/podcast
Transcribe of this podcast - https://blog.sellyautomotive.com/blog/dalepollakmar2023

In this episode of the Used Car Dealer Podcast, Zach interviews Dennis McGinn of Rapid Recon. They discuss the best practices for dealership recon, potential impact of right to repair and recall disclosure-related bills on recon management, and other timely topics.


Some of the questions asked include:


Q) Can you talk about your background as an executive at HP and what led you to start Rapid Recon?


Q) What does Rapid Recon do for dealers, and how has the product evolved since the early days?
Q) Can you tell us about the culture you have built at Rapid Recon and how former users have become employees?


Q) What has stuck with you the most about building a first-in-category company like Rapid Recon, and what were some of the initial challenges?


Q) Can you discuss your latest book, "Strategic T2L - Connect to What You Expect," and what the most significant takeaways are?


Q) What do dealers most often misunderstand about recon, including franchise, and what are the common mistakes your team has observed pre-implementation of RR?


Q) What are the top three best dealership recon practices from over a decade of time in the recon software space?


Q) What are your thoughts on the right to repair and recall disclosure-related bills being discussed in Washington and their potential impact on recon management for dealers?


Q) What are the differences and opportunities with the recon of EV vehicles?


Q) If you were a used car dealer looking to scale your business, at what point (ex. vehicles sold per month or on lot) should you consider recon software?


Q) Lastly, can you give us an idea of what's coming down the pipeline from Rapid Recon for 2023?


Listen to our other podcast episodes: https://www.sellyautomotive.com/podcast
Transcribe of this podcast - https://blog.sellyautomotive.com/blog/dennismcginn2023

In this episode of the Used Car Dealer Podcast, Zach interviews Adam Crowell of ComplyNet. They discuss the importance of FTC Safeguard compliance for used car dealers, the proposed rules by CFPB and FTC, safety recalls and non-proper disclosure for dealers, and advice on how to get started with compliance.

Some of the questions asked include:

Q) Talk about your background on the legal side of automotive and what you guys do for dealers at ComplyNet? 

Q) What's most important for dealers to understand about FTC Safeguard? 

Q) What would be a couple examples for context purposes of the technical or admin things that used car dealers might have to do to be in compliance?

Q) What's your opinion on the belief held by some dealers that they are not at risk of getting into trouble with FTC Safeguard and other compliance considerations?

Q) What were some of your observations as dealers tried to comprehend FTC Safeguard and put into place measures for the Dec 9th deadline (which is now extended until June)? 

Q) Talk about new proposed rules by CFPB and FTC, which impact used car dealers, especially BHPH? 

Q) Talk about safety recalls and non-proper disclosure for dealers? Is this another big focus for enforcement coming forward? 
Q) If you were a used car dealer, thinking about the upcoming June deadline, what advice would you have to get started in moving toward FTC Safeguard compliance? 

Q) Lastly, Adam, what’s coming down the pipeline from the ComplyNet for 2023?

Listen to our other podcast episodes: https://www.sellyautomotive.com/podcast
Transcribe of this podcast - https://blog.sellyautomotive.com/blog/adamcrowell2023