Dealer News Today Podcasts

SEASON 7 | EPISODE 3Join 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.

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.”

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/ 

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.Episode Highlights: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"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

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 GroupEpisode Highlights: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“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

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 RVEpisode Highlights: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“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

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 AssociatesEpisode Highlights: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“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

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 KampshoffEpisode Highlights: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“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

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.SUPER73Episode Highlights: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“E-bikes feel like being in a video game with a cheat code.”— LeGrand Crewse|| Dealer News Today is a Dave Cantin Group production

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 IIIEpisode Highlights: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“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

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 AutomotiveEpisode 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

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 TurleyEpisode 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

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 GroupEpisode 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

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 GroupEpisode 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

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 TechnologiesEpisode 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

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 WelbyEpisode 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

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 AutoIntelligenceEpisode Highlights: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“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

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 AutomotiveEpisode 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

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 | BCGEpisode Highlights: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“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

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 AutomotiveEpisode 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

Lifelong California resident Frank McKenna has been working in fraud analysis for over 33 years, making him one of the most incisive and experienced minds in his industry. He now plays a key role in Point Predictive, a company he helped found in his hometown of San Diego, by working with in-house engineers and scientists to develop new fraud detection solutions, then helping outside partners like banks and other lenders to implement them.On this episode, Frank speaks with our host Derek D about what he's learned recently during the day-to-day tasks of monitoring trends related to fraud in the automotive industry - including why there's been such a dramatic uptick in auto-dealership fraud since the beginning of the COVID-19 pandemic, the pandemic-related measures that have helped customers stay safe but have accidentally been aiding fraudsters, and the staggering amount of resources potential fraudsters can access online to train themselves in scamming. He also discusses solutions being implemented right now, such as driver's license scanning and using aggregate data to authenticate income for people who don't have traditional paystubs.Frank McKenna | Point PredictiveEpisode Highlights:Why knowledge-based authentication surveys are both inconvenient and ineffective - and how to replace themHow Point Predictive is helping dealerships focus on the tiny percentage of transactions that may be problematic rather than slow down legitimate buyersThe shocking amount of money a single fraudulent transaction could cost a dealershipThe ways in which dealerships that experience regular and systematic fraud have to correct internal issues“Fraud always follows the money - we call it ‘fast money, fast fraud'. Lenders relaxed, maybe dealerships did the same, and the fraudsters took advantage.” — Frank McKenna|| Dealer News Today is a DCG Media production

Daniel Shapiro is originally from Southern California, but has long lived and worked in the northern part of that state - the Bay Area and Silicon Valley - and says even in his current position at NVIDIA, a company with tens of thousands of employees, he feels almost like he's working at a startup, surrounded by entrepreneurial spirit and new ideas all the time. Daniel's background includes a BS in electrical engineering and computer science from Princeton University and an MBA from UC Berkeley.On this episode, Daniel speaks with Derek D about the trending concept of “software-defined vehicles” and NVIDIA's forward-thinking approach to the future of driving, why long-haul trucking and last-mile delivery alike are great applications for autonomous vehicles, and why the current changes in the automotive industry are directly analogous to the smartphone revolution. Plus, he discusses the need to update old methods of machine learning for real-life road conditions, the staggering processing power advances that will be made in cars' onboard computer systems, and more.Daniel Shapiro | NVIDIA DRIVEEpisode Highlights:How the same forms of processing across a variety of sensor types can be recombined for new applicationsWhy many automotive technology companies have escaped most of the industry's microchip supply woesThe strange, even paradoxical phenomenon enabled by over-the-air system updatesThe trend towards centralization of onboard computer systems in vehicles, and why it's the antidote to Daniel's concerns about complexity growing out of control“Whether we're actually replacing the driver, like in a robotaxi, or improving driver safety… there's a massive amount of processing that needs to take place.” — Daniel Shapiro|| Dealer News Today is a DCG Media production

Canadian native Chris Piche has a wealth of experience in the computer science field, which he has now focused on contributing to the autonomous future of cars. He previously worked on developing BlackBerry's video streaming and AT&T TV and has been recognized with Canada's Top Young Leader and 40 Under 40 awards.In this episode, Chris talks with Derek D about founding and running a company producing a wholly new twist on a familiar automotive accessory, the lessons he learned from his experience at the dawn of smartphones, and working with OEMs supplying technology to the world's biggest carmakers. Plus, he discusses coming up with new applications for existing product architecture, his company's role in advancing the future of autonomous vehicles, and more.Chris Piche | Smarter AIEpisode Highlights:Why user customization is so important for current tech productsThe major problem facing motorists that Smarter AI is seeking to correctThe unique type of car collection that Chris may be the only person in the world to have owned“Our software platform can seek to understand what's happening around the camera, in the vehicle, and around the vehicle by applying sensor fusion.” — Chris Piche|| Dealer News Today is a DCG Media production

Ryan Robinson took an unusual path to the automotive industry, having earned degrees in philosophy, English literature, and classical archaeology from Montreal, Quebec's prestigious Concordia University. However, he's managed to apply the analytical skills from this course of study to a two-plus-decade career working in all points on the automotive value chain. Today, he leads Deloitte LLP's automotive sector department in finding actionable insights and predicting key trends that will affect the industry for years to come.In this episode, Ryan talks with our host Derek D about how the study of archaeology and “learning how to learn” set him up for success in research, how automotive culture was part of his background from the very beginning, and the unforeseen benefits of the semiconductor supply crisis. Plus, he highlights how autonomous vehicle systems have had precedent for longer than we think, concerns about autonomous delivery and freight from a labor standpoint, why consolidation by dealership groups is even reaching across the US-Canada border, and more.Episode Highlights:Why brand loyalty will become increasingly important during the continuing rise of electric vehiclesWho drivers trust the most in their entire automotive experienceThe surprising result Deloitte got when asking consumers how long they'd be willing to wait for delivery of a car with all of the exact features they wantRyan's one piece of advice to dealers: What aspect of business should you double down on?“One of the bigger questions we're contemplating right now… is how much restraint the manufacturers are going to have to not go back to the way things were.” — Ryan Robinson|| Dealer News Today is a DCG Media production

This episode is brought to you by DCG Giving. a Dave Cantin Group PartnerA special automotive podcast episode featuring an interview with a global icon.  Eight questions with the legendary boxer, movie star, entrepreneur, and youngest heavyweight champion of all time, Kid Dynamite, the Baddest Man in the World - “IRON” Mike Tyson. “You have to want to be the best more than you want to breathe. - that's when you reach the top of your game.” - Mike TysonGuest host and marketing keynote speaker Larry Bailin goes toe-to-toe with Iron Mike Tyson and asks the champ question he's never been asked. Listen as Iron Mike discusses why he had to change his personal brand and what it takes to be a champion.Why and how did you change your personal brand?How do you know when it's time to change direction?What is the mindset of a champion? Does everyone have a champion inside themselves?How does a champion deal with adversity?Why do you feel adaptation is the number one factor in life?Is it harder to reach the top or stay at the top?Who is Mike Tyson today?And many more insights and stories from the champ.“I'm the best, and how dare they try and take it from me. No one stands a chance. I reign total supreme in my field “ - Mike TysonListen as Iron Mike talks about the mindset of a champion as only the Baddest Man Alive can.“You have to be up more than anyone wants you to be down. You need that total belief and confidence that you can conquer the world and crush it to your feet! You reign as a god! You have to believe you're a god, and there is no one that can match me! How dare anyone try and take my job, crush them to their knees!”  - Mike Tyson--------------------------------This interview is a pre-cursor to Mike Tyson's guest appearance, live at the DCG NADA HEAVYWEIGHT DINNER on January 28th in Dallas, Texas. This is a VIP invitation-only event hosted by the Dave Cantin Group and DCG Acquisitions, the automotive industry's top M&A firm.  Mike will participate in a live fireside chat, enjoying dinner with guests and a meet and greet photo session. For more information, visit HeavyweightDinner.com --------------------------------EPISODE SPONSORThis episode is brought to you by DCG Giving. According to the American Cancer Society, About 10,470 children in the United States under the age of 15 will be diagnosed with cancer in 2022. DCG Giving is a non-profit organization fighting childhood cancer. This holiday season, make a donation that helps children fight this terrible disease.

Gary Silberg started off as a self-described “Midwest guy” but now has lived and worked all over the world. With over 20 years of experience in technology and 15 years in automotive, Gary's career has taken him to places as far afield as France and China - and led to him becoming fluent in French and partly conversational in Mandarin Chinese. Among his particular areas of expertise are automotive connectivity and autonomous vehicles.In this episode, Gary talks with Derek D about critical factors for the future of automotive - the staggering amount of money automakers have already invested in electric vehicles, the places where “islands of autonomy” are beginning to push the boundaries of “self-driving” cars, and how history from the earliest days of cars may repeat itself. Plus, he discusses how quantum physics is tied up with his view of the automotive industry, why Berkshire Hathaway is investing in autonomous vehicle tech, and more.Gary Silberg | KPMG AutomotiveEpisode Highlights:The surprising company Gary once worked for that was a top supplier of automotive technologyHow and why automation could replace human error and save lives in difficult, dangerous jobsThe simple mathematical reason why an “electric vehicle takeover” may be slower than some assumeThe popular household gadget using the same technological principles coming to cars“We're at a point now, as I tell people, where there's a shakeout… the question is, how many of these autonomous vehicle makers will we need?”— Gary Silberg|| Dealer News Today is a DCG Media production

“German engineering” is a byword for quality in the automotive industry, almost a cliche. And Ralf Klädtke personifies that concept. A 25-year veteran in the technology space, Ralf has only recently brought his considerable talents to automotive: He has been a captain in the German Air Force and a director at DARA/DLR, the German space agency, where he helped develop the crew return vehicle for the International Space Station. Ralf has also worked in leadership roles at companies such as Carl Zeiss Optronics, one of the most famous optics manufacturers in the world, as well as ZKW Group, a top automotive lighting and electronics company.In this episode, Ralf talks with Derek D about an extensive array of topics that will affect the future of the whole automotive industry. This conversation covers Ralf's predictions on when hydrogen fuel cells will overtake electric vehicles in market share, the many barriers facing fully autonomous or “self-driving” cars and why he believes autonomous trucks are much more feasible, and how the cities of the future will impact the entire transportation sector. Plus, Ralf discusses the present and future of connectivity and computing in cars, his experiences in countries from Switzerland to China, and more.Ralf Klädtke | TE Transportation SolutionsEpisode Highlights:The role micromobility products such as electric scooters will play in the future of transportation, and the places Ralf has seen this trend beginning even todayThe new meaning that the term “hybrid vehicle” is likely to take on in the futureWhy mobility-as-a-service has a big role to play in future citiesThe sector where small automated vehicles can potentially cut operating costs in half“When you look into the charging of the battery, if this is done by renewable energies, you can reduce the carbon footprint over the lifetime by something like 50-55%.” — Ralf Klädtke|| Dealer News Today is a DCG Media production

Mario Benedetti proved his acumen with decades of success in the automotive industry in his native Venezuela, then proved his resilience with his move to the US. Mario's family has been in the car business for nearly a whole century, with three generations managing Venezuela's Prosperi Cumana dealership since its founding in 1924. Mario worked as a mechanic and in accounting at the family business before taking the reins, but in 2009, feeling bad prospects for business under Venezuela's government, he moved to the United States intending to start a new dealership from scratch. Thirteen years later, Mario owns dealerships across Dade County - and Prosperi Cumana is still up and running.On this episode, Mario talks with our host Derek D about the differences between the Japanese (and Venezuelan) car sales business model and the American one, what a stint selling vehicles door-to-door taught him, and the challenges that came with starting a new business with a recession in full swing. Plus, he discusses navigating a major Toyota recall, what happened when he asked to buy a dealership on a whim, why one of the models sold at South Dade Kia dealerships is one of his favorite-ever cars to drive, and more.South Dade Toyota | South Dade KiaEpisode Highlights:Why Mario compares his work to being an orchestral conductorThe philosophy of kaizen - continuous improvement - and how to make it work at a car dealershipThe shortsighted tactic Mario calls a “bread for today, hunger for tomorrow” moveWhy the current situation of low vehicle supply is a good opportunity to change customer perception about the dealership“Even though it's the same brand and the same business model that we had in Venezuela with Toyota, it's two different markets.” — Mario Benedetti|| Dealer News Today is a DCG Media production

From the Oxfordshire, UK town where he grew up, Chris Sachno set out to explore the world, first earning his MBA from the Fuqua School of Business at North Carolina's Duke University, then making his way to Japan, originally intending to learn Japanese. Not only did he become fluent in the language, he also caught the technology bug and went on to help develop tech that has been used in products like the BlackBerry, the iPhone, and the Apple Watch. But it's not just mobile devices that Chris was interested in, and he was drawn to cars - this past June he joined Karma Automotive and has helped shape the technological profile of their vehicles.In this episode, Chris has a very long-distance chat with Derek D about how the current electric vehicle revolution is kind of a comeback, why the current era is ideal for experimentation in EV design, and the mind-boggling innovations that may come to electric cars in a mere 10 years or so. Plus, he talks about why speed, safety, and range are the top areas for EV improvement, how it felt the first time he drove Karma's flagship vehicle and the instant torque kicked in, and more.Chris Sachno | Karma AutomotiveEpisode Highlights:The famous Henry Ford quote Chris keeps back of mind when considering designWhat the original driving force for EVs was, and why environmental concerns and beyond still make it a factorThe reasons that adoption leads to adaptation for any new technology.Why Chris is passionate about a great experience for both drivers and passengers“If you're using your phone and an application crashes - okay, you start it up again. You don't want that to happen when you're doing 75 MPH on the highway.” — Chris Sachno|| Dealer News Today is a DCG Media production

Lifelong LA area resident William M. Monroe Jr. has been a leader on the OEM side of the auto industry for over 20 years, but now holds a prominent position at a highly distinctive company. Karma Automotive is the successor to California autobuilder Fisker, whose assets it bought out in 2014 - and William is Karma's current SVP of Global Sales, Marketing, and Customer Service. William has been instrumental in setting up Karma's global distribution, and in his previous roles at Volvo he led teams in a diverse range of departments and won internal company awards.On this episode, William joins our host Derek D to discuss how Karma's operations as an all-EV manufacturer are different from most automakers, why it's valuable to have staff that's composed of both gearheads and people with no outside interest in cars, and the statistical factor that's quickly changing customer perceptions of electric cars. Plus, he talks about solar and wind power's integration into energy infrastructure, the joy he gets from the torque and power of his own company's products, the motto he was raised with and how it's affected his perceptions of cars, and more.William M. Monroe Jr. | Karma AutomotiveEpisode Highlights:Why Karma vehicles' unique features necessitated some thought-through design choicesThe fringe benefit that incentivized EV adoption in California, and that could work across the countryWhat level of maximum charge range will cause a tipping point in public attitudes towards EVsThe type of events that best engage Karma's core customer base“You're still talking about a lot of cars to be added in a short amount of time. When you're designing a car start to finish, that process is usually about 8 to 10 years. So when you're a manufacturer and you're not prepared for the changes that are coming and you're behind, it's going to take a long time for you to catch up.” — William M. Monroe Jr.|| Dealer News Today is a DCG Media production

Nadia Bical was born into the automotive industry and considers herself to always have been a part of Bical Auto Mall. Growing up, the business was her biggest connection to her father, Sammy Bical, the company's president and founder - now she's risen to a leadership role for which she's won multiple awards, including from Carfax and Cargurus. Nadia runs day-to-day operations and human resources for Bical Auto Mall, and her efforts to strengthen the link between the dealership and the community have included charity work for the Brooklyn Cyclones (the Mets' High-A affiliate), New York Cares, Chevy Youth Baseball and Softball, and many other organizations.On this episode, both Nadia and Sammy Bical join Derek D for a unique conversation about their beloved family business, covering topics such as how their relationship has gotten stronger due to being business partners, what it takes to retain business over multiple generations, and what the simplest way to deal with inventory shortages is. In addition, they discuss how long it'll take before EVs fully take over the car market, why Bical Auto Mall is upping their social media marketing now, why father and daughter differ on their preferred schedules, and more.Bical Auto MallEpisode Highlights:The unique experience Bical Auto Mall plans to offer customers with their soon-to-be-completed Cadillac showroomThe large demographic of people who currently would find it very difficult to buy an electric car, and what will have to change for them to adopt EVsHow Nadia and her father both arrived at a love of cars in different waysWhy any business with a parking lot will soon be installing EV charging stations“Trust me - in a place with 220,000 square feet, there's always something that somebody needs!”— Nadia Bical|| Dealer News Today is a DCG Media production

It's fair to say that Alan Haig has a great pedigree in both the automotive industry and in finance in general. He holds an MBA from Columbia Business School, wrote AutoNation's original business plan in 1996, and went on to found Haig Partners and the Haig Report, currently having $5 billion in total dealership transactions on his record.On this episode, Alan chats with our host Derek D about how he wrote that AutoNation business plan without even knowing a single car dealer, what initial missteps taught him about economies of scale in the automotive business, and why automotive M&A is a close indicator of the health of retail car sales. Plus, he discusses why some dealer principals may want to sell out prior to retirement age, his early experiences working for the late Wayne Huizenga, and more.Alan HaigEpisode Highlights:Why pent-up demand won't be matched by supply in automotive retail for years to come, even if factories stepped up productionThe chain reaction scenario that could result in some carmakers creating a glut of inventory, pre-pandemic-styleHow savvy online marketing will be critical in the near futureWhy wholly-online car buying is likely to grow, but why that growth may be limited“Our math indicates that we're going to be in a period of elevated front-end profits on new, and therefore elevated dealership earnings, for at least three years.” — Alan Haig|| Dealer News Today is a DCG Media production

Cliff Banks has a history of innovation and entrepreneurship in the analysis sector of the automotive industry. An automotive professional for over 30 years and a journalist for over 20, Cliff founded The Banks Report in 2013 to fill what he knew was an unmet need for a publication covering the automotive business from an investment perspective. In 2016, he held the first edition of AUTOVATE, which has now become an annual conference for investors and entrepreneurs in automotive retail technology.In this episode, Cliff talks with Derek D about his long path to founding The Banks Report and how it is his tribute to a friend and business partner who sadly passed away in 2013, the choices confronting dealers due to the vibrant M&A market, and how far automakers will push in order to control the retail market. Plus, he discusses why the current supply chain issue's effects on dealerships is all down to their reactions, the questions he thinks the next few years will answer on EV adoption, and more.The Banks Report | AutovateEpisode Highlights:Why he's opened every presentation in the past four years with a slide of a shattered crystal ballHow long it'll be before analysts will be able to make accurate predictions about the auto industry again, and the uncertain factors in the air until that pointWhy franchise laws play a part in maintaining some of the status quo of retail automotive“I try to treat all my conversations responsibly. I'm not looking to create a ‘gotcha' article or even breaking news… it does get harder to write because there's a lot of noise out there. The news industry has become democratized, and there are great things and drawbacks about that.” — Cliff Banks|| Dealer News Today is a DCG Media production

A trusted voice in automotive analysis and one of the original team members at Bloomberg Intelligence, Kevin Tynan has over 20 years of experience in his field. He is a lifelong gearhead who installed a lift in his garage to work on cars, a multi-time award winner for predictive accuracy from organizations such as Forbes and the Financial Times, and incidentally a member of the St. Anselm College Athletic Hall of Fame.In this episode, Kevin talks to Derek D about the unusual way he got his first position in automotive industry research, the ways in which auto manufacturers are still in full control despite supply chain issues, and why he sees the pandemic-related effects on the auto industry as simply an equalization of supply and demand. Plus, he discusses why wanting to go back to pre-pandemic inventory levels is a dangerous wish, who is the sharpest negotiator in his family, and more.Kevin TynanEpisode Highlights:How Kevin saw the signs of GM's mid-2000s bankruptcy early, and the famous author who invited him to lunch to talk about itA balanced look at charging over MSRP for new vehiclesWhat factors are affecting both supply and demand at the dealership level, including a deep dive into post-pandemic conditionsWhy higher inventory levels may be possible for used vehicles, but not new ones“The parties that are pulling the strings - basically in the form of supply - don't want it to go back.”— Kevin Tynan|| Dealer News Today is a DCG Media production

It's no exaggeration to say Charlie Chesbrough is one of the top minds in automotive economic analysis. Michigan born and bred, Charlie intimately knows the US auto industry as well as the international outlook from companies abroad, with 20 years of experience in his field. He has been recognized many times for his predictive accuracy and is active in industry organizations such as the Detroit Association for Business Economics.On this episode, Charlie talks with our host Derek D about the ways in which Cox Automotive is uniquely positioned to analyze a wealth of data, why he's no fan of strategies that involve pricing over MSRP, and why the microchip shortage is just one facet of a much larger supply chain issue. Plus, he discusses pricing discipline (and why it'll be key in the near future), how long the auto industry can maintain a seller's market, and more.Charlie Chesbrough | Cox AutomotiveEpisode Highlights:Why the brands that are coping the best with the chip shortage have shifted in the past year-plusThe ways in which franchised, multi-point dealers are able to leverage the current market better than independent dealersThe shared plans of the Biden administration and major domestic car makers to shift the supply chain long-termHow economic growth could combine with scrapping percentages to form a huge demand spike in the used car market“When we really saw the inventory situation get substantially worse, the inventory saw itself with empty dealer lots… as a result of that, we've seen that the margins have strengthened dramatically, both for dealers and the manufacturers themselves. Although COVID was a huge crisis, it has presented an opportunity for the industry to become lean and mean.”— Charlie Chesbrough|| Dealer News Today is a DCG Media production

Itay Michaeli is a real citizen of the world, having been born in Israel and moving with his family to the US when he was 6, and now focusing his expertise on automotive companies around the globe. Itay, an NYU alum, has been in the field of investment analysis right since he graduated from college, and has earned many accolades over the past two decades of his career, including previous #1 rankings in the Starmine awards and the Thomson Reuters stock picking accuracy awards.On this episode, Itay joins Derek D to discuss the broad appeal of current automotive technologies, taking into account macroeconomic and cyclical perspectives, the reasons automotive company valuations have historically been lower than other major industrial sectors, and the elements of creativity in analysis. He also talks about seeing the automotive industry from multiple vantage points, the role of de-urbanization in creating demand for cars, and more.Itay MichaeliEpisode Highlights:The single best metric to follow to determine automotive industry demandThe technology that could be more disruptive to the auto business than EVs and other alternative fuelsItay's prediction for the rate of EV adoption by 2030Why the United State has lagged behind the rest of the world in terms of electric cars - and the reason that could easily change“The battle the next ten-plus years is not just about market share, but who's able to capture a far-greater share of the lifetime revenue of a vehicle that, today, is not really available to the automaker.” — Itay Michaeli|| Dealer News Today is a DCG Media production

To say that Cynthia Caine has a keen mind for finance is an understatement. She has spent her whole career in this field, serving both the automotive industry and a diverse range of other clients. She joined Wells Fargo in 2016, where she led efforts to retain and grow manufacturer programs in the Distribution Finance division, eventually taking over as the head of a 200-person Commercial Auto team. Her division now manages over 750 franchised auto dealership clients.On this episode, Cynthia discusses the reason that lending to photocopier dealers is not very different from taking on automotive clients, the ways in which Wells Fargo has shifted gears over the past two years, and why - and when - she believes the current inventory shortage will turn around in a big way. Plus, she discusses why interest rates may seem much higher than they actually are, the ways in which statistics bear out a major drop in leasing, the unusual feature of her first car, and more.Cynthia Caine | Wells Fargo Commercial AutoEpisode Highlights:The one trend in the auto business that has been on the lips of Cynthia and her colleaguesWhat consumer behavior modeling has to say about the post-COVID, post-shortage future of automotiveWhat the tipping point will be for EVs to become more widespread and, eventually, a majority of vehiclesThe ways in which OEMs are currently hedging their bets“I think some people that were waiting by the sidelines last year, and were maybe inquisitive about acquiring, are now looking at all their cash… you've kind of got the next set of buyers and the next set of sellers.” — Cynthia Caine|| Dealer News Today is a DCG Media production

Diversification is the name of Brad Cobb's game - in addition to being president of the entirety of Bowers Automotive Group, he is also a dealer principal or partner in Bowers dealerships selling 7+ different brands of cars across multiple states. Brad initially wanted to go to law school when he graduated college, but when the legal profession didn't appeal to him, he went full-speed into the job he had taken to pay for law school: automotive sales. He now has over 30 years of automotive experience and has also served on the boards of organizations including the Chattanooga Chamber of Commerce and the United Way of Cleveland.On this episode, Brad sits down with our host Derek D to discuss why it can be tough to be the son-in-law of the owner of the dealership group you work for, what metrics are important for dealerships to keep regular track of, and getting back to basics in preparation for a more normal inventory and revenue-per-vehicle situation in the near future. Plus, he talks about “fighting the fights that matter” in business and family relationships, why he's taken the same ski trip for the past 30 years, why it takes all types of personalities to generate business, and more.Bowers Automotive GroupEpisode Highlights:The scenario that could lead to bloated inventories for all types of dealerships within several yearsWhat happened when a commercial was accidentally so annoying, it brought in more leads than a charming ad might haveWhy developing boundaries is especially important in a family businessWhat it is about body shops that makes such a business tough to run“The folks that are trying to maintain those best practices - those blocking and tackling things that we know we're supposed to - I think are the ones who are really going to capitalize on market share and growth.”— Brad Cobb|| Dealer News Today is a DCG Media production

It's no surprise that Randy Dye was selected as the chairman of Stellantis's National Dealer Council for 2022. He's a proven automotive industry veteran - he operates Daytona Dodge Chrysler Jeep RAM & FIAT, as well as Maserati and Alfa Romeo dealerships in the massive Daytona Auto Mall. Randy has worked at dealerships of all sizes en route to owning Daytona DCJR, and maintains community involvement with events that he has started such as the Excellence in Education Challenge and Golf for Kids' Sake.On this episode, Randy sits down with our host Derek D to discuss his lifelong enthusiasm for cars, automotive engineering, and auto racing, the one major problem in the otherwise effective system of selling cars on order, and how Stellantis is fighting the microchip shortage and preparing for the large-scale transition to electric vehicles. Plus, he talks about who is responsible for “bad behavior” in automotive sales that has contributed to inventory shortages, his predictions for future forms of car propulsion, and more.Daytona Dodge Chrysler Jeep RamEpisode Highlights:How Randy's first-ever auto industry job at a tiny dealership taught him a crucial lesson for dealing with shortagesWhy inventories on lots may be even lower around SeptemberHow to make effective future plans - even, and especially, in times of uncertaintyHow racing has been a driving force in automotive innovation, from the Model T days until today“This is not revolutionary to me - it's really a step back, but it's not a bad step, it's a great step.”— Randy Dye|| Dealer News Today is a DCG Media production

Benny Robles Jr. is an automotive industry “lifer” - he grew up around the business and took to it like a natural. Benny's father, Benjamin Robles Sr., audited Bartow Ford when working at Ford Credit, befriended the then-owners, went to work for Bartow as a finance manager, and eventually purchased the dealership. Benny, a NADA Academy graduate, has worked many positions on the retail and service sides en route to becoming the majority owner himself and being featured in the Automotive News “40 Under 40” list in 2014.On this episode, Benny sits down with our host Derek D to discuss finding the balance between acquiring a new location in a slow but risky market and a fast but high-priced one, how service absorption and avoiding overreliance on the manufacturer has helped Bartow Ford weather the microchip shortage, and why he prefers volume to heavy front-end gross. He also talks about why he loves the “shake-and-bake” feeling of automotive sales, holding a country music concert in the dealership lot, why growing up in the business made him paradoxically less of an auto enthusiast, and more.Bartow FordEpisode Highlights:Why Benny once had 76 tons of snow trucked in to Bartow, FLWhat the true most effective form of dealership advertising is - especially within a small communityHow a low turnover rate has benefited all of Bartow Ford's departmentsWhy Benny briefly butted heads with his father after acquiring the majority stake in Bartow Ford“I've already tried to light a fire underneath the sales force to compensate for when that shift happens.”— Benny Robles Jr.|| Dealer News Today is a DCG Media production

Although she's the vice president of Ancira Auto Group, which has 12 dealership franchises across Texas, the automotive business is just the foremost among April Ancira's many interests. Aside from her leadership role at Ancira Auto, April also serves on the boards of over a dozen charitable and civic organizations, competes in the Ironman triathlon, and performs as a stand-up comedian.On this episode, April Ancira sits down with Derek D to discuss how her father's inconsistent pronunciation of their last name has featured in commercials, meeting her husband at the NADA show, when the expense of acquiring a new dealership can be justified, and how she shook off nervousness in her first standup sets. Plus, she talks about dividing the macro concerns from the micro ones at Ancira Auto, the horror of early-90s printed Excel spreadsheets, and more.Ancira Auto GroupEpisode Highlights:The surprising reason Ancira Auto Group has kept more Volkswagens in stock during the ongoing microchip shortageHow auto dealerships at their best can cause a virtuous circle of mutual upliftingWhat April learned when she quit the family business to wait tables at Chili'sThe business situations in which April has to meet her husband in the middle, despite the fact that they are responsible for completely different things“There is a lesson in leadership, perseverance, and getting through from every single race.”— April Ancira|| Dealer News Today is a DCG Media production

Renowned pediatric oncologist Dr. Michael Weiner joins us for a special episode of Automotive Authorities to highlight the work done so far by DCG Giving. Dr. Weiner is the vice-chair of the Department of Pediatrics at Columbia University Irving Medical Center in New York Presbyterian Hospital. He's not only a leading medical specialist, he's also a published author, and he has decades of experience in nonprofit leadership.Dr. Weiner talks to Derek D about DCG Giving's origins, his longtime personal connection with founder Dave Cantin, the organization's important mission to fight pediatric cancer at the community level, and most critically, how you can get involved.DCG GivingEpisode Highlights:The nationwide group that DCG Giving is partnered with, and why that affiliation is so importantHow automotive dealerships can contribute to the battle against childhood cancers, and how to keep it up in the long termWhy a local focus is central to effective charitable action“It's important to know that your gift is going to help children in your community.”— Dr. Michael Weiner|| Dealer News Today is a DCG Media production

Brian Kelly's career in the automotive industry spans an incredible 56 years and counting. He got his start working at his father Roland's used car lot as a young teenager - which would eventually become the first dealership of Kelly Automotive Group. There are now eight Kelly dealership locations with a total of ten franchises throughout them.On this episode, Brian Kelly sits down with Derek D to discuss how his career selling cars got started with buying two suits for $59, why the Federal Reserve raising interest rates is a necessary evil for the automotive business and how long the aftereffects may last, and how Kelly Automotive came to open one of the first INFINITI dealerships in the entire world. Plus, he talks about how a little real estate knowledge can be valuable for dealer principals, why his connection to his hometown is so important to him, and how he quickly spotted auto brokers trying to take unfair advantage of market conditions recently.Kelly Automotive GroupEpisode Highlights:How Brian's childhood tricked-out bicycles led to a lifelong love of both cars and motorcyclesWhy it matters what brands a dealership sells during the ongoing chip shortages - and which automakers are managing their currently supply of microchips well and poorlyWhy the most prized vehicle Brian owns is one of fewer than 200 in the worldWhat needs to happen before most or all cars no longer run on internal combustion engines - and why Brian is unsure what will be propelling those future vehiclesHow inflation's impact on the industry is like a broken arm“We have new customers coming in every day, and you add that to the repeat business we do, and that's one of the reasons we've been so successful.”— Brian Kelly|| Dealer News Today is a DCG Media production

Dan Fields is something of a Renaissance man - he studied in multiple countries during college, is bilingual, and has a professional interest in aquaculture in addition to the automotive business. He's also lived, worked, and studied in several very different states, and fittingly, Fields Auto Group has 34 locations in some diverse areas -  Florida, Illinois, Wisconsin, and North Carolina. At Fields Auto Group, Dan is business partners with his father John and brother Ryan.On this episode, Dan Fields sits down with Derek D to discuss how Dan's grandfather started Fields Auto Group with one of the very first individual Cadillac franchises in the country, why repeat business in the form of service starts with customer satisfaction over the car's initial price, and how a built-to-order system can only work properly with communication on every side Plus, Dan talks his coincidental acquaintance with NFL coaching great Tom Coughlin, why he bought his everyday-drive car spontaneously, and losing eleven already-sold vehicles aboard the cargo ship Felicity Ace, which caught fire in the middle of the Atlantic in February.Fields Auto GroupEpisode Highlights:The surprising segment of the market that has recently done the best business for Fields Auto Group, and the unlikely places some of this business has come fromWhat it's like being the “operations guy” (and only gearhead) in the family business - and the simple key to making sure a family business doesn't fall apartThe recently released vehicle Dan anticipates being a big hit in one of his most important marketThe (minor) “woes” of trying to come up with a unique configuration for a high-end built-to-order car“Our theory always has been we always want them to come back to service, and for them to trust us to charge a reasonable rate.”— Dan Fields|| Dealer News Today is a DCG Media production

Fourth-generation car dealer George Grubbs III grew up wanting to be a doctor - until he got his first taste of the sales side of the automotive industry. Now, he's president and CEO of his family's dealership group, boasting six stores and on their way to further expansion.George joins Derek D for an insightful conversation spanning his lifelong love of automobiles from multiple standpoints, what it's like having a family history in car sales that stretches so far back, switching to a pickup truck for his daily drive, and developing a new brand as the market becomes ready for it. He also talks about how to mitigate risks during dealership group expansion,  the importance of proper documentation and updating documents, what happens when someone says they'd like to buy a car just like the one he's driving, and more.Grubbs Automotive GroupEpisode Highlights:What George's father insisted on driving in order to promote the businessHow Grubbs Automotive Group avoids overextension when trying to expandWhy customers prefer to be told bluntly about dealership policies and changesHow Grubbs Automotive staff members are in training constantly - and how such a thing is possibleThe specific types of vehicles that Grubbs dealerships can strategically price above MSRP without losing customer satisfaction“To us it's always been people and process - build strong processes, find talented people, and get out of their way.”— George Grubbs III|| Dealer News Today is a DCG Media production

A lifelong gearhead, a graduate of the NADA Dealer Candidate Academy, and a longtime employee of his family's dealership, Brandon Tomes was destined to get into automotive sales. With Brandon's initiative and his father's blessing, he expanded the Tomes family's automotive dealership holdings to include Brandon Tomes Subaru and Brandon Tomes Volkswagen.Brandon sits down with Derek D to talk about learning the car business from the ground up, why Subaru dealerships in particular were best equipped to handle inventory shortages, and having as name everyone mispronounces. Plus, he opens up about being his father's business partner, why he's switched to driving pre-owned vehicles, and why practice runs for demolitions look so much better than they do on camera when filming a commercial.Brandon Tomes Subaru - Tomes Auto GroupEpisode Highlights:How Brandon almost became a chef instead of going into automotiveThe one tactic that has best helped the Tomes Auto Group dealerships increase allocations during a time of low inventoryWhy Brandon thinks a large-scale built-to-order revolution isn't possible yetWhat it took for Brandon's father to purchase a high-end car of his own for the first timeHow responsiveness to customers can get them to change their minds on negative online reviews“Working with family is great, but you want to make sure to leave your own mark also.” — Brandon Tomes|| Dealer News Today is a DCG Media production

Starting when he was 18, Joe Cardinale was hooked on the business of selling cars. He opened a dealership of his own for the first time in 1980, and now Cardinale Auto Group has 22 locations throughout California, Nevada, and Arizona, and the family-owned and operated business is planning to open several more soon.On this episode, Joe Cardinale chats with Derek D about his near-lifetime of experience in the automotive industry and how that has led him to react to the rapid changes of recent years. He also opens up about hiring - and firing - family members, Cardinale Auto Group's responsibility to their nearly 1,000 employees' families, how he manages to fit in two workouts during a working day, and more.Cardinale Auto GroupEpisode Highlights:What indicates which stores to buy up when Cardinale Auto Group has expandedWhat happens when a dealership group experiences its fastest-ever quarterly growth - in a quarter where Joe says he thought he definitely wouldn't buy a new locationThe most effective ways that Cardinale Auto Group has developed to run meetingsHow predictions on the factory side from manufacturers have gotten it wrong, and how to plan anyway“Once you learn sales, it's a fun business - you get a game every day and you either win or lose it.”— Joe Cardinale|| Dealer News Today is a DCG Media production

Dorian Jimenez has been in the automotive business for 26 years in all sorts of roles - despite having a pre-med degree. He's been general sales manager for the largest Acura dealership in the US, sales director for a large luxury car dealership, and joined Classic Chevrolet of Grapevine, TX a few years ago. Besides being the general sales manager, Dorian is the face of Classic Chevrolet's advertising and is in charge of the company's charitable efforts.On this episode, Dorian sits down with Derek D to talk what it's like working in such a wide variety of positions within (and outside) the automotive industry, the challenges of working in a climate where minorities are severely underrepresented, and the transformative effects he's seen personal relationships in the auto business have on people. Dorian also shares why the pandemic-related shift to a built-to-order car buying system was a blessing in disguise, what it feels like to be surrounded by cardboard cutouts of yourself, and more.Classic ChevroletEpisode Highlights:How Classic Chevrolet is managing a precipitous drop in inventory - despite being a few miles away from a Chevy plantWhy Dorian thinks rebates have never been necessary, and what really works best to create customer loyalty insteadHow Dorian took a Corvette for a spin on a NASCAR track and was humbled by a young pro driverWhat “bringing the country to the city” means at Classic Chevrolet“It's been a recipe for 30 years at this dealership, and we're never going to change.” — Dorian Jimenez|| Dealer News Today is a DCG Media production

“There are a lot of bad habits being formed that are going to have to be addressed, once the situation becomes back to a normal cycle.”— Steve BarnaBorn and raised in Hawthorne, NJ, Steve Barna also owns Hawthorne Chevrolet, which has been a family-owned and operated dealership for over 90 years. Steve got his start in automotive sales when his stepfather asked him to fill in for sales staff who were unable to make it - the rest is history.In this episode, Steve Barna sits with Derek D to talk about the pitfalls and advantages of a family business, his uncertainty in the last five years of the automotive industry and how he's managed it and found avenues to succeed, and what the two most major immediate issues facing all dealerships are. He also weighs in on why it's been especially difficult to sell commercial trucks since the beginning of the COVID-19 pandemic, what has always annoyed his mom when it comes to Thanksgiving with a family of car dealers, and more.Episode Highlights:The benefits of consolidation and shifting location focus in a world still dealing with a pandemicHow rail transportation of cars from the manufacturer to dealers poses a logistical concernThe new system being used as a stopgap when premium options are unavailable due to the microchip shortage, and Steve's concerns with this approach How the Northeast's strong lease market makes it especially vulnerable to supply chain problems|| Dealer News Today is a DCG Media production

She's back! One of the hardest-working women in the automotive industry, Rita Case, returns to Dealer News Today for another enlightening and entertaining chat with Derek D. Cars have always been a family affair for Rita, with her children also working at Rick Case Auto Group, and she continues to look ahead on behalf of future generations in the auto business.Listen in as Rita Case talks what it's like being immediately recognizable, navigating supply and demand in today's car manufacturing climate, the future of leases and trade-ins, and more.On this episode, Rita Case discusses how her kids “learned the automotive business at the dinner table,” the purpose of her personal brand, and helping customers in the wake of rising lease costs and lower inventory levels.Rick Case Automotive GroupEpisode Highlights:How Rita's legendary hats tie into having something to proveThe “sweet spot” for increased efficiency even with fewer cars on the storage lotThe true origins of the microchip shortage, and how it will be remediedThe decline in auto shows, and why it should matter to dealer groupsEpisode Quote:“I wore the hats in order to stand out, to draw attention to me, and then it was up to me to prove that I deserved that attention.”— Rita Case|| Dealer News Today is a DCG Media production

Matt Gunderson came from a large family in western Wisconsin, never intending to sell cars. But after getting into business with his brother in an open Infiniti dealership point in California, he found himself two decades later, running that successful dealership, plus two others he had started from the ground up.On this episode, Matt Gunderson talks with Derek D. about his unlikely path to both California and the automotive industry, how he built his business in an unfamiliar state, and how someone who's not a “car person” could be attracted to the business of selling cars. He also details what inspired him to run for office as a relative newcomer, his convictions about how political change can be made, and how negotiating with car manufacturers is like dealing with a state government.Matt Gunderson for State SenateEpisode Highlights:Matt's journey to becoming an “accidental” car dealerHow Matt was recruited to run for state senate - and why he was reluctant at firstHow the Mission Viejo family of dealerships coped under pandemic-related regulationsThe silver lining of having to cut back on staff“It was more an approach of growing and cultivating a business than it was specifically cars, so to speak.” — Matt Gunderson|| Dealer News Today is a DCG Media production