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Dealer News Today creates content and information for dealers in the automotive industry. The information they need today and insights for tomorrow. Our content is exclusive and our podcasts feature automotive industry powerhouses from around the globe giving master-class advice to dealerships.

Dealer News Today


    • Sep 27, 2022 LATEST EPISODE
    • weekly NEW EPISODES
    • 25m AVG DURATION
    • 147 EPISODES


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    Latest episodes from Dealer News Today Podcasts

    “The process has to improve” || Kevin Tynan, Global Director of Automotive Research, Bloomberg Intelligence

    Play Episode Play 57 sec Highlight Listen Later Sep 27, 2022 28:14


    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

    “There's a lot of money out there even today” || Charlie Chesbrough, Senior Economist, Cox Automotive

    Play Episode Play 60 sec Highlight Listen Later Sep 20, 2022 27:28


    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

    “There are headwinds to affordability” || Itay Michaeli, Head of Global Auto, Citi Research

    Play Episode Play 56 sec Highlight Listen Later Sep 13, 2022 25:23


    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

    “I learn a lot more about this industry every day” || Cynthia Caine, Head of Commercial Auto, Wells Fargo

    Play Episode Play 60 sec Highlight Listen Later Sep 6, 2022 29:38


    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

    “We measure everything” || Brad Cobb, President, Bowers Automotive Group

    Play Episode Play 58 sec Highlight Listen Later Aug 16, 2022 28:24


    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 a cliche, but I've got gasoline in my veins” || Randy Dye, Owner, Daytona Dodge Chrysler Jeep RAM & FIAT

    Play Episode Play 58 sec Highlight Listen Later Aug 9, 2022 30:41


    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

    “Customers are just as educated as the salespeople” || Benny Robles Jr., President and GM, Bartow Ford

    Play Episode Play 59 sec Highlight Listen Later Aug 2, 2022 24:34


    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

    “It's like this giant amazing circle” || April Ancira, Vice President, Ancira Auto Group

    Play Episode Play 60 sec Highlight Listen Later Jul 21, 2022 33:21


    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

    “We've made enormous progress” || Dr. Michael Weiner, Board Member, DCG Giving

    Play Episode Play 59 sec Highlight Listen Later Jul 14, 2022 16:44


    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

    “We've always played the long game” || Brian Kelly, President and CEO, Kelly Automotive Group

    Play Episode Play 60 sec Highlight Listen Later Jul 5, 2022 26:53


    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

    “I think it's hugely important to be out there” || Dan Fields, President, Fields Auto Group

    Play Episode Play 53 sec Highlight Listen Later Jun 28, 2022 26:49


    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

    “I always enjoyed the beauty of the car” || George Grubbs III, President and CEO, Grubbs Automotive Group

    Play Episode Play 58 sec Highlight Listen Later Jun 21, 2022 22:57


    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

    “We're all very mobile” || Brandon Tomes, President, Brandon Tomes Subaru/Brandon Tomes Volkswagen

    Play Episode Play 58 sec Highlight Listen Later Jun 14, 2022 24:50


    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

    “It's unbelievable what kind of ideas somebody else has” || Joe Cardinale, President, Cardinale Auto Group

    Play Episode Play 51 sec Highlight Listen Later Jun 7, 2022 19:31


    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

    “It's education, it's creating that relationship, and it's constant communication.” || Dorian Jimenez, General Sales Manager, Classic Chevrolet

    Play Episode Play 56 sec Highlight Listen Later Jun 2, 2022 29:55


    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

    “Personnel is the number one challenge” || Steve Barna, Owner, Hawthorne Chevrolet

    Play Episode Play 57 sec Highlight Listen Later May 24, 2022 26:34


    “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

    “We'll just do what we've done - take care of our customers” || Rita Case, Owner, Rick Case Auto Group

    Play Episode Play 58 sec Highlight Listen Later May 3, 2022 37:32


    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

    “I had two choices - sit on the sidelines, or jump in.” || Matt Gunderson, State Senate Candidate, CA-38

    Play Episode Play 60 sec Highlight Listen Later Apr 26, 2022 30:45


    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

    “I am not a car person - I am a people person.” || Liza Borches, President and CEO, Carter Myers Automotive

    Play Episode Play 59 sec Highlight Listen Later Apr 19, 2022 28:29


    Liza Borches is a fourth-generation automotive dealer, but once upon a time, she never imagined she'd want to sell cars. Over the last 15 years, Carter Myers Automotive has experienced explosive growth, from three rooftops to 20 - and Liza, Cox Automotive's 2020 Woman of the Year, says they're ready to go even further.Listen in while Liza Borches, President and CEO of Carter Myers Automotive, shares her passion for helping people through automotive sales, CMA's philosophy of “Moving Lives Forward,” how she makes the most of business and family responsibilities, and more.On this episode, Liza Borches talks with Derek D about employee ownership, the importance of transportation in shaping lives, and why she can't do business on the golf course.Carter Myers AutomotiveEpisode Highlights:How Liza manages a packed schedule with 20 dealerships and raising teenage childrenThe “pivotal moment” that convinced Liza to go back to the retail side of the auto industry, and how she taught herself from scratch to run a dealershipThe rare employee incentive that has helped Carter Myers Automotive's longtime successHow an awkward moment at a Mets game gave Liza perspective on being a woman in a male-dominated field“When I was growing up, I saw this business as ‘How many cars can we sell' and ‘How many cars do we service', and I didn't experience the business from the perspective of the lives that we change and the people that we help.” — Liza BorchesDealer News Today is a DCG Media production

    "I was driven to be an exception" || Rita Case, Owner, Rick Case Automotive Group

    Play Episode Play 56 sec Highlight Listen Later Apr 12, 2022 32:49


    Rita Case has literally spent a lifetime in the auto industry. She was born into one car-selling family, married into another, and now is the president, CEO, and owner of the country's largest retail auto group that is owned and operated by a woman.Listen as Rita Case, the CEO and owner of the largest woman-owned retail auto group in America, tells the tale of her lifelong journey in what she calls the “funnest business ever” and her history of innovation and “picking winners.”On this episode, Rita sits down with Derek D for a whirlwind discussion covering hats, jets, America's first Hondas, and her pioneering business successes.Rick Case Automotive GroupEpisode Highlights:Why Rita wears her famous hatsWhat it takes to bring an overseas auto brand to the shores of the US for the first timeHow Rick Case's idea for a revolutionary marketing tactic was rejected, how it was proven to work - and how it saved Hyundai's brand in AmericaWhat women in leadership positions have to offer the auto industry, and what has held them back in the pastThe one simple step Rick Case Automotive Group takes to create customer loyalty“I tell people, when they say, ‘Oh, you were so lucky' - Luck spells ‘Laboring Under Correct Knowledge'.”— Rita CaseDealer News Today is a DCG Media production

    Unconventional Advice on Working with Family || Larry Crain Sr. Crain Automotive

    Play Episode Play 56 sec Highlight Listen Later Mar 22, 2022 19:10


    The Crain Companies began as “Paul Crain Wholesale” in Searcy, Arkansas in the early 1950s. “Mr. Paul”, Larry Crain Sr.'s father, started out “peddling” tire repair items and now Crain Automotive is 23 rooftops strong - all from the trunk of a car.Listen to industry veteran Larry Crain Sr. as he discusses the history of Crain Automotive and how he went from one dealership in 1991 to 23 thirty years later. Episode Highlights:How do you go from selling from the trunk of a car to owning 23 dealerships?Working with family, is it easier or harder? The answer may surprise you.How the last couple of years challenged the Crain Automotive business.“As a dealer principal of a family-owned business, and a CPA background, I would not recommend family work together” — Larry Crain, Sr., Crain AutomotiveLarry Crain Sr. | Crain AutomotiveDealer News Today is a DCG Media production

    We all Need to Be Ready to Pivot || Rob Cochran, CEO, #1 Cochran

    Play Episode Play 60 sec Highlight Listen Later Mar 15, 2022 27:56


    45-Year-old automotive brand has seen it all. With 26 dealerships and over 35 facilities, Rob Cochran, #1 Cochran President, and CEO, has a wealth of leadership and operational insights. “Building a brand means developing the organizations' culture, and that culture needs to be one of growth and empowerment.” — Rob Cochran CEO, #1 CochranListen to industry veteran and thought leader Rob Cochran as he espouses the values of building a time-tested brand while being nimble enough to adjust to sweeping and rapid change.Listen as Derek and Rob take a deep dive into the businesses of a dealership in today's limited supply world. Rob Cochran Bio | #1 CochranEpisode Highlights:45 years of growth - what's the secret?There is a specific  process to building a lasting  brand How to create a culture of growth and empowermentRob Cochran's “Rule of 12”Using  transparency to compete with the “disrupters” in the industryThe impact of electric vehicles and digital culture on dealership operational systems.| Dealer News Today is a DCG Media Production

    For Some Dealerships Things May Get Tougher Soon || Scott Kunes, COO, Kunes Auto Group

    Play Episode Play 60 sec Highlight Listen Later Mar 8, 2022 28:34


    Time Magazine Dealer of the Year - 40 dealerships across four states, Scott Kunes, Kunes Auto Group COO, looks into his crystal ball. What's in store for the auto industry? Listen and find out.From professional chef to one of the top Cheif Operating Officers in the auto industry, Scott Kunes has a unique point of view on the industry and has some core values he's learned in the kitchen and applied to the showroom.Listen as Derek and Scott take a deep dive into the businesses of a dealership in today's limited supply world. Scott Kunes Bio | Kunes Auto GroupEpisode Highlights:How being a chef prepares you for the auto industry. What is the ultimate secret to the Kunes Auto Group's rapid success?Family Business - Harder or Easier?What attracted you to the auto dealership businesses What does it take to be a leader in the auto industryWhat do you struggle with every day?Scott Kunes crystal ball - what's next for the auto industry? “The auto business is so much more than just cars. This is a pretty incredible business. It's ultra-competitive and a business unlike any other.” — Scott Kunes, COO, Kunes Auto Group|| Dealer News Today is a DCG Media production

    A deep dive on strategic expansion || Transactions with Dave Cantin

    Play Episode Play 57 sec Highlight Listen Later Mar 3, 2022 20:39


    Opportunity remains extremely strong in the automotive M&A sector, and for nearly two years, this high-reward dynamic has allowed auto groups to be especially “picky” and strategic about the dealerships they acquire.Today, Dave takes a deep dive into the art of strategic acquisitions and how dealer groups today are positioning themselves across the US market. For example, groups are being more selective about the brands they acquire. They're also more willing to widen their radius and expand outside of their usual geographic region than ever before.And the question remains—How long can this ideal M&A environment last?Episode Highlights:We explore why major auto groups who have previously cashed out of the industry are coming back in and buying stores.Dave explains why, in today's market, you're either a buyer or a seller (and why, either way, the most important thing to focus on is your people)Dave and Derek discuss when it's time to divest from an underperforming dealership and re-invest in a better opportunity.Episode Quote:“When an investor is willing to take their profit, and reinvest back into the same industry, that is an incredibly positive sign.”— Dave Cantin|| Dealer News Today is a DCG Media production

    “I had no idea the return we would get.” || Brett Hopkins, CEO, Ken Garff Auto Group

    Play Episode Play 60 sec Highlight Listen Later Mar 1, 2022 30:56


    Brett Hopkins has had a fascinating career story. He went from a try at medical school, to 3 years in Paris, to being CFO of the 2002 Salt Lake CIty Olympic Committee, where he forged a relationship with Bob Garff, then the 2nd-generation CEO of Ken Garff Automotive Group. Brett joined Ken Garff Auto Group following the 2002 games, and in 20 years, he's helped grow the company from nearly 20 dealership in Utah to 61 rooftops across 8 states.This episode is full of heart, as Brett tells the company's story through pandemic. In March 2020, they lost then-CEO Bob Garff to COVID-19. In this difficult moment, leadership decided to back its employees financially during shutdown. This led to the lowest turnover and highest employee loyalty the company has ever seen.Episode Highlights:Out of their realization about investing in employees, came a long list of benefits that Ken Garff Auto Group now gives to its employees, defying many norms of the auto industry.The company began its “We're Hear for You” campaign in early 2020, backing businesses that might not have made it through the pandemic, like restaurants, and they continue to this day.We hear about the value of working at one of the country's most well-run family businesses, with several third-generation Garff family members in the company.Episode Quote:“March of 2020 we learned that when we come out of pocket and invest in our employees, they will give back.”— Brett Hopkins|| Dealer News Today is a DCG Media production

    Sugar Ray Leonard Exclusive Interview - Winning When it Matters

    Play Episode Play 54 sec Highlight Listen Later Feb 14, 2022 32:30


    An Exclusive Interview with Sugar Ray Leonard Before His Appearance at the NADA Afterparty Hosted by DCG. “There's a special something, a way to live that helps you win the fights that matter.” ~ Sugar Ray LeonardHe's an Olympic gold medal winner, Golden Gloves winner, world champion boxer in five weight classes (the first boxer to ever achieve this), a legendary sports icon, Hall of Famer, bestselling author, television personality, ringside analyst, and tireless philanthropist- Sugar Ray Leonard. Today we sit down with the champ for an EXCLUSIVE interview, just for you. Brought to you by the Dave Cantin Group Guest host and best-selling author Larry Bailin sits with the champ and gets deep into what it truly means to live every day like a champion. In the EpisodeHow the principles that apply to being a world champion also apply to success in life. Lessons from Sugar's underdog fight with Marvelous Marvin Hagler and learning what it takes to push through adversity. Identifying your greatest competitor, and why it may not be who you think it is.Is talent alone enough to succeed in tough times?What it takes to develop a champion mindset.What the audience at the VIP NADA Afterparty hosted by DCG can expect to hear. This exclusive podcast interview with sports icon and boxing legend Sugar Ray Leonard is a do-not-miss episode, and can only be heard here — exclusively on the automotive industry's #1 podcast platform, Dealer News Today. Sugar Ray Leonard will be speaking LIVE at an exclusive NADA VIP afterparty hosted by the Dave Cantin Group at one of the hottest nightclubs on the Las Vegas strip, LAVO. Followed by a live concert with Journey tribute band and global sensation, VOYAGE.CLICK HERE to request a VIP ticketSpace is limited to venue capacity. Not all requests can be honored.

    The long game of value in the auto industry || Transactions with Dave Cantin

    Play Episode Play 49 sec Highlight Listen Later Feb 9, 2022 24:20


    Today we talk about the true nature of value. Dave reflects on DCG Acquisitions's recent announcement that, in 2021, the firm closed over $1B in total M&A transactions. (Read more in Business Wire.) But they didn't do so by gunning for the billion dollar mark. Instead, the team was focused on more essential elements of value. Later in the episode, Dave talks about the long game of automotive acquisitions, explaining why a dealership purchase is not about immediate ROI. It's at least a 5-7 year return, and in the long run, it's a family asset, multiplying returns 5x or 10x over the course of generations. Episode Highlights:   Dave and Derek look ahead to this Super Bowl Sunday, and how the big game's automotive ads indicate important trends and sentiments in the industry.  Dave explains the three most important values he emphasizes to his team at DCG (and why they aren't centered around work).  We hear several reasons why short-term ROI can be a distraction from a more important aspect of the automotive business — the long game.   Episode Quote:  “The automotive industry is not about ‘What am I gonna make this year and cash our next year?' . . . The returns are impeccable, but this is about playing the long game.”  — Dave Cantin   || Transactions is a DCG Media production

    How to flip a dealership || Transactions with Dave Cantin

    Play Episode Play 55 sec Highlight Listen Later Feb 3, 2022 24:38


    Get ready to take notes. Today, Dave runs down the checklist of dealership profitability and talks about entrepreneurs who are skilled at purchasing dealerships, increasing profits, and then selling them at a higher price three to five years later. Plus, Dave and Derek share predictions on the performance of mainstay automakers over the next 12-18 months, especially GM, which suffered Q4 losses but is looking at a big emergence into the EV market through 2023. And the conversation returns again and again to every business's most important asset — its people.   Episode Highlights:    We hear how the market fluctuations since 2020 have created a wide range of consumer experiences. This could mean we have several different types of car buyers in the coming years.  Dave and Derek discuss predictions that General Motors will deliver 400,000 EVs in the US market through 2023, and what that means for the overall auto market.  Dave tells us how a dealership buyer's fresh perspective can uncover previously unseen areas of opportunity in an automotive business.   Episode Quote:   "There's no magic dust that we're going to sprinkle over a car dealership that makes it profitable. It's process. It's people. It's product.” — Dave Cantin

    With the industry evolving, M&A remains strong || Transactions with Dave Cantin

    Play Episode Play 54 sec Highlight Listen Later Jan 27, 2022 21:01


    The auto industry is changing faster than it has since the days of Karl Benz and Henry Ford. Manufacturers are investing billions into EVs. Dealers are adopting “order your vehicle” sales models and transforming the way they do business with customers. In this environment, M&A remains full-steam-ahead. Smaller auto groups and family dealerships continue to look at historic high valuations, deciding their best option is to sell. Large companies continue to consolidate, invest, and reinvest in the industry. Today, we cover all of this ground and take a look at what's to come in the months ahead.  Episode Highlights:  Dave and Derek discuss how some dealerships are succeeding by hiring salespeople from outside the dealership industry.We learn how selling an EV is different from selling a gas-powered vehicle.  Dave and Derek explore how all this could be a positive change, allowing automotive professionals to be successful by “working smarter not harder.”  Episode Quote:  “The whole dynamic of the industry is changing. I don't think this will take away from profitability. The new process could create more profitability and higher customer satisfaction.” — Dave Cantin|| Dealer News Today is a DCG Media production

    “A lot will be said in the history books.” || Bridget Beyer, COO, Beyer Automotive Group

    Play Episode Play 33 sec Highlight Listen Later Jan 18, 2022 30:30


    Bridget Beyer's family has been in automotive for over 100 years. She's the COO of Beyer Family Automotive Group in New Jersey, which operates Ford, CDJR, and GMC franchises, multiple commercial truck dealerships, and even a Fleet dealer that sells over 2000 police vehicles annually to municipalities across NJ. Today on DNT, Bridget brings up some key under-recognized points about the inventory shortage. She also explains how she uses her law degree every day at her job and tells a few interesting stories about her life in the business, including an experience driving an ex-secret service vehicle. Episode Highlights:   We hear about the Japanese chip manufacturing plant that suffered a fire near the start of the chip shortage (and when it's expected to be back up and running).  Bridget shares which of her manufacturers are doing the best and worst jobs supplying new cars during the inventory shortage.  Bridget explains why her biggest lesson from the pandemic is, “Meet people where they're at.”   Episode Quote:  “You have to be much more creative. The entrepreneurial spirit is definitely alive and roaring, and those who can capitalize on that are doing well.”  — Bridget Beyer     || Dealer News Today is a DCG Media production

    Launching 2022: A Prosperous Outlook with 1 Precaution || Transactions with Dave Cantin

    Play Episode Play 41 sec Highlight Listen Later Jan 6, 2022 23:55


    There's no crystal ball for the year ahead, but the automotive industry is not slowing down and 2022 may shape up to be a stronger year than 2021 or 2020. However, there's one thing we're keeping our eye on — how will manufacturers respond to dealers making record profits, while they aren't seeing the same on their end? Dave and Derek discuss why this is happening and what options manufacturers may have to grab a piece of the pie. Plus, we take a deeper look at the automotive market in 2022, which after two unprecedented years in 2020-21, continues to be hot in vehicle sales as well as M&A.   Episode Highlights:   How are the dealerships going to ste in the way to try to retain some of the dealerships' internal profit? Are they going to try to grab a piece of the pie?  We get an inside look at how DCG Acquisitions does its due diligence on a dealership valuation, taking account for performance metrics, real estate, geographic location, a “look under the hood”, and more.  Dave reveals the three aspects of a successful dealership transaction, and how DCG works to achieve them.   Episode Quote:  “I'm excited about ‘22. I'm excited about where the automotive industry is right now . . . Let's buckle up and take the ride.”— Dave Cantin|| Dealer News Today is a DCG Media production

    How Speed and Confidence Win the Deal || Transactions with Dave Cantin

    Play Episode Play 56 sec Highlight Listen Later Dec 30, 2021 21:07


    The week between Christmas and New Year's is usually quiet in the M&A world. Not this year. At a moment when DCG has 37 deals in the pipeline, Dave breaks down how two key attributes in a buyer—speed and confidence—are essential to winning dealership acquisitions. He goes on to discuss how New Year's is his favorite holiday, because it's a chance to hit the restart button. For business executives, it's a chance to take stock of everything and everyone at your company, and to lay a strong foundation for the year ahead.   Episode Highlights:   People, product, and process. These are three core factors for any company in creating synergies and a unified brand experience.  Listening is leadership. Lending an open ear to team members and their ideas keeps your team feeling valued and helps find opportunities for enhancing your business.  The “wow” approach. If you can rely on your people to deliver the wow factor with every customer, you know you have a well-run organization.   Episode Quote:   “Confidence in an acquisition for a buyer is the KEY to success in achieving a successful closing.” — David Cantin || Transactions is a DCG Media production

    “‘What is your forecast for 2022?' is a loaded question.” || Jessica Caldwell, Exec. Director of Insights, Edmunds

    Play Episode Play 30 sec Highlight Listen Later Dec 28, 2021 29:51


    This episode is full of rich insights and data from one of the industry's leading analytics experts.Jessica Caldwell began her career with various OEMs and has spent the past 15 years at Edmunds, where she is now Executive Director of Insights.Jessica and Derek discuss the great flux the industry has felt since the start of the pandemic, and attempt to form a picture of what may take place in the coming year. It's hard to predict any year—let alone 2022—but this conversation will give you useful insights to better prepare you for the unknowns on the road ahead.Episode Highlights:Jessica explains why there may be a backlash on the exorbitantly high used car prices, with dealerships and personal sellers marking up their prices far above typical prices.We hear predictions around new car inventory in 2022, and she compares the uncertainty around the Omicron variant to what happened with the Delta wave.Jessica discusses what will happen once supply chains eventually normalize. Will we go down the familiar road of OEMs vying for market share, or will supply be more restrained based on what we've learned in the pandemic?And much more.Episode Quote:“For people financing used cars . . . payments were exactly the same as new car payments five years before. Never has our industry changed so fast in terms of pricing.”— Jessica Caldwell|| Dealer News Today is a DCG Media production

    An Unconventional Year-End in Automotive M&A || Transactions with Dave Cantin

    Play Episode Play 42 sec Highlight Listen Later Dec 23, 2021 20:30


    Today's episode of Transactions starts with some holiday cheer and jumps quickly to the frenzy of M&A activity happening at the close of the year.“It's the unknown,” Dave says, that's driving the rush to close. We all know factors are favorable in 2021 — from laws and taxes, to interest rates and dealership profits — but nobody knows exactly how things will change in 2022.Dave and Derek go on to discuss how historic consumer demand continues to snowball into high dealership valuations and increased M&A activity. Plus, Dave explains his predictions that 2022 will be even busier than 2021, especially from the end of Q1 through Q3.Episode Highlights:Dave gives us a round-up of several major acquisitions that closed during 10 days in early December.Dave and Derek discuss — How high can valuations continue to grow? How long can companies wait before buying or selling? What is the risk of waiting too long?We get a look at the processes companies use after acquiring multiple dealerships, to streamline the transition to their business model.And more.Episode Quote:“If there's ever been a time to grow, the time is now.” — Dave Cantin|| Transactions is a DCG Media production

    “It's not about talk, it's about action.” || Don Forman, CEO & Founder, Forman Automotive

    Play Episode Play 57 sec Highlight Listen Later Dec 21, 2021 30:38


    Don Forman is one of the top names in the Vegas auto market. As CEO of Forman Automotive, he's now getting ready to open his sixth dealership in the greater Las Vegas area. On this episode of Dealer News Today, Don tells how he found his career in Vegas by chasing opportunity, and he gives us a sense of the work ethic and passion that are behind the growth of his auto group. Don wakes up each day at 4am and stays focused on his work until late in the evening, because he loves what he does. He's constantly learning new skills in both life and business. He embraces success and the failures that come with it, saying, “It doesn't take but one or two successes for you to overcome many failures. The real failure is not taking the risk and trying.”And it all comes through on today's interview.   Episode Highlights:  Don tells us how two key elements of his success are communication and planning, and he explains how he builds them into his business.Don discusses Forman Automotive's “united team trust meetings” and how he uses them to instill growth in his businesses, saying, “It's amazing, the information you get.”Don shares about his role in the Fox 5 Surprise Squad and the hundreds of philanthropic acts the group has created around Las Vegas.Episode Quote:  “You can't truly take in and enjoy a great day or a great success unless you've been through the wringer. You've got to have the bad days, because that's what amplifies your successful days.”— Don Forman|| Dealer News Today is a DCG Media production

    Synergies and Consolidation in 2022 || Transactions with Dave Cantin

    Play Episode Play 49 sec Highlight Listen Later Dec 16, 2021 18:46


    If there's a phrase to sum up today's episode, it's “positive outlook”. Dave kicks off the conversation by describing how he chooses a positive outlook as often as possible, in any situation, to stay on the right path, take the right actions, and guide his team toward consistently positive outcomes in dealership transactions. Then he delves into the positive forecasts for the M&A market in 2022 (in automotive and across all industries), including why a major contributing factor is that people know the good times won't last forever — so they're striking while the iron is hot. Episode Highlights:   Learn what is the greatest unknown currently affecting people's financial mindset in the M&A market.  Hear why December and the holidays are a great time to find a buyer for a dealership acquisition.   Find out why predictions are becoming stronger for the M&A market in 2022, with a growing number of experts saying it will outpace 2021.   Episode Quote:   “When a store becomes available in the right market, forget about price. It's one word and one word only, and that's opportunity.”  — Dave Cantin     || Dealer News Today is a DCG Media production

    “So what do you do? You start a company.” || John Stech, Owner, Shiftgate Consulting

    Play Episode Play 56 sec Highlight Listen Later Dec 14, 2021 26:51


    John Stech's story is one of an automotive entrepreneur crossing disciplines and crossing continents. Born in Germany, he moved to the US at a young age. As a professional, he's gone from developing plastics for car components, to working for European OEMs in various global markets, to consulting as an automotive expert with major players in other industries. His journey has taken him across the US and across the globe, to cities like Cairo, Moscow, New York City, and more. On this episode of DNT, Stech tells us how he is now taking his diverse automotive background and applying it in innovative ways, from his work as Founder & Principal of Shiftgate Consulting to his most recent venture starting a car-inspired brand of hot sauce.   Interview Highlights:   John gives us a taste of his work at Shiftgate Consulting, helping to advise non-automotive companies who are invested in the shift to EVs.  We hear about the intersection between automotive and Hollywood, as Shiftgate matches carmakers with product placement in new movies.  John explains how he was inspired during the pandemic to start Left Lane Pepper Company, and what that has taught him about “bootstrapping” a small business.   Episode Quote:   “You hear more and more about EVs coming. You hear about the benefits—you also hear about the concerns . . . With my clients, I'm trying to help ease customers into that adoption process.”   — John Stech     || Dealer News Today is a DCG Media production

    The Ability to Execute || Transactions with Dave Cantin

    Play Episode Play 32 sec Highlight Listen Later Dec 9, 2021 18:56


    This episode is about turning your visions into reality.  “Some people dream it but they don't live it,” says Dave, “And they don't live it because they're not executing.” Today, we discuss how the ability to execute makes all the difference in the efficiency of dealership transactions, in people's careers, and in our daily lives. Dave explains how two motivations, a passion for Automotive M&A and the philanthropic purpose of DCG Giving, are what drive him to take action every day. And of course, he shares some habits and philosophies you can embrace in order to take more action, for your automotive business, in your career, and in your life.Episode Highlights:The conversation begins with an inspiring quote from Bryan DeBoer, CEO of Lithia Motors, who is Automotive News' 2021 Industry Leader of the YearWe learn why it often takes longer to execute the acquisition of two dealerships than it does to complete an entire 15-store auto group transaction.Dave closes with a call to action to set yourself up for long-term success in 2022.And more.Episode Quote:“The people who are able to execute and turn their vision into a reality, those are the people who inspire me day in and day out.”— Dave Cantin|| Dealer News Today is a DCG Media production

    “Put the dealer in full control.” || Paul Meijer, Owner, DealerVenderMatch.com

    Play Episode Play 51 sec Highlight Listen Later Dec 7, 2021 28:55


    In a way, Paul Meijer's career has been all about understanding how dealership businesses work and finding ways to make them work better. 41 years ago, Paul started as a service technician, quickly rising to a manager position, and later went on to gain a variety of regional sales experiences with Audi, Subaru, Saab, and other brands. He became an early adopter of online auto sales, after he'd seen fax leads as a precursor to the digital future of the industry. Today he is the owner and founder of DealerVendorMatch.com. He also operates The White Tablecloth automotive marketing services and hosts a weekly show on LinkedIn, Sunday Night Live, which tackles many of the operational issues faced by auto dealers. On this episode, Paul describes how he started DealerVendorMatch.com to fill an unmet need in the relationships between dealerships and the vendors they contract for important services. He also recounts his dealership career, including the many lessons about customer trust he learned from being a service professional. Interview Highlights:   Paul describes his childhood growing up a car lover and the wide spectrum of roles he held in the auto industry early in his career.  We hear the peculiar story of how White Tablecloth got its name.  Paul tells us why DealerVendorMatch.com's customer service number connects callers to his own cell phone.  And much more.   Episode Quote:   “How can we make the dealer's life easier while offering vendors an opportunity to position themselves in front of an audience that they might not otherwise get in front of?”  — Paul Meijer     || Dealer News Today is a DCG Media production

    The Human Element in an Acquisition || Transactions with Dave Cantin

    Play Episode Play 40 sec Highlight Listen Later Dec 1, 2021 19:16


    When you're involved in Mergers & Acquisitions, you understand that every deal has a business side and a human side.Both are important, for very different reasons. While the human element — the trading of legacies — is a large part of what makes the work so rewarding, it's important to run the deal itself strictly along business lines and not allow emotions to interfere.On this episode of Transactions, as we return from the Thanksgiving holiday, Dave and Derek discuss the importance of personal connections and why it's important to understand them if you want to get the most out of an automotive acquisition.Interview Highlights:When a transaction starts to become emotional, how do you navigate and get the deal back on track to its original business goals?What are the most rewarding, and most bitter-sweet moments of any dealership transaction?Dave closes the episode with a prediction for 2022, stating by what percentage he believes the Automotive M&A market will change compared to 2021.Episode Quote:“What is a transaction? A transaction is anything that translates into a course of action. It's not just making a deal . . . it's really the passion of life, of everything that you do.” — Dave Cantin|| Dealer News Today is a DCG Media production

    “What's your game plan?” || Scott Biehl, CEO, Tri-Unity Automotive Group

    Play Episode Play 59 sec Highlight Listen Later Nov 30, 2021 29:59


    Today we talk less about technical aspects of the auto industry, and more about what it means to be a professional in this business. Scott Biehl has been learning and growing in his career for 35 years. At age 21, he took a semester off school to sell cars. He sold 15 vehicles in his first 12 days and never looked back. Today, he's CEO of Tri-Unity Automotive Group, with dealerships in Fresno and Los Angeles, CA. On this episode, Scott talks about his habits and values. He shares how his daily routine helps create the success of his team, and he discusses how his professional standards ensure that the right people are advancing and growing the business.   Interview Highlights:   The many ways Tri-Unity Auto Group is family-oriented — from the company's origin story, to the values it imparts to employees, to its plans for future generations.  The questions and challenges Scott gives to employees who want to be promoted, to see if they're up for it, asking, “What have you done outside of work to prepare yourself for this next role?”  Stories of how Scott developed his work ethic and his company's values — from the lessons he learned as a kid, to the way he acted proactively when he saw the first signs of the inventory shortage.   Episode Quote:   “You should always be mentored by somebody, and you should always be mentoring somebody else.”   — Scott Biehl, CEO, Tri-Unity Auto Group   || Dealer News Today is a DCG Media production

    All the Components of a Successful Acquisition || Transactions with Dave Cantin

    Play Episode Play 42 sec Highlight Listen Later Nov 23, 2021 22:53


    A successful dealership acquisition involves much more than just matching a buyer to a seller. On episode 3 of Transactions, Dave explains how every acquisition is a puzzle — and you have to know how to put the pieces together to make it successful. Along the way, he describes the nine members of an M&A team involved in any acquisition and how they complete the due diligence of a prospective buyer before they bring any actual buyers to the table. Then Dave digs into current issues affecting dealership businesses, including why it's crucial to understand the dynamics of supply and demand today, and why a great, personalized customer experience is more important than ever.Interview Highlights:Dave lays out several common pitfalls that can create friction between buyers and sellers, and he explains how to avoid them.We learn why DCG Acquisitions declines more prospective transactions than it accepts.Dave shares why (and how) you should operate your dealerships as if there's always an opportunity to sell, in order to create the greatest value at your business.Episode Quote:“Always focus on the process, because process equals results and results equal profitability.”— Dave Cantin|| Dealer News Today is a DCG Media production

    “The Infrastructure of the Future” || Mark LaNeve, President, Charge Enterprises

    Play Episode Play 57 sec Highlight Listen Later Nov 22, 2021 28:58


    As President of Charge Enterprises, Mark LaNeve is helping design and implement the 5G and EV charging technology of the future. And as Chairman of Franchise Equity Partners, he provides capital for multiple-franchise owners in the automotive industry and beyond, to help them grow their enterprises.  So this is already shaping up to be an interesting chat. But before he held those positions, Mark held top positions at General Motors, Ford, Cadillac Motors, Allstate Insurance, and Volvo Cars North America. So he's seen a thing or two in the auto industry.In this conversation, he tells the story of his career and gives his advice to others in the automotive industry. Mark also gives us the inside scoop on the development of our national infrastructure and how it will affect car dealerships, as we make simultaneous transitions to 5G connectivity and electric driving.Interview Highlights:   Mark discusses the billions of dollars earmarked for 5G and EV charging in the infrastructure bill currently moving through Congress. We learn how 5G technology and the interconnectivity of all digital technologies (your phone, the WiFi in your office, etc.) will guide self-driving cars. Mark Explains how Franchise Equity Partners provide a unique hands-off, nearly no-governance approach to providing capital for franchise owners.   Episode Quote:   “The big differentiator is — to some extent your location and your facility — but more than anything else, it's your team. And any dealer worth their salt in the industry will tell you that.”  — Mark LaNeve|| Dealer News Today is a DCG Media production

    Inside the Current Climate of Automotive M&A || Transactions with Dave Cantin

    Play Episode Play 45 sec Highlight Listen Later Nov 18, 2021 20:42


    On the second episode of Transactions, we get into the nitty gritty.Dave talks about the state of the automotive industry, including lessons we can learn from history about our current economy, and he explains why there's no end in sight to the M&A frenzy that has taken place over the past year, saying, “Every public company is still out there looking for more acquisitions.”We also hear why, at smaller family dealerships, the next generation is often not as interested in running the business as they were in past generations — a dynamic that, combined with the profits available for dealership sales, creates further activity on the seller side.Plus, Dave talks about the consumer habits that are changing or will soon change, forever transforming the nature of the automotive business.Interview Highlights:We learn about the $12B in “monster acquisitions” that have taken place in the past few months.Dave makes a prediction for how many acquisitions we'll see in 2022.We hear about “tuck in” opportunities and how large auto groups are now taking advantage of them.Episode Quote:”Eventually this wave is going to break. The question is, how long can we ride the wave?”— Dave Cantin, CEO, The Dave Cantin Group|| Dealer News Today is a DCG Media production

    “There's a goldmine for talent.” || Cheryl Thompson, CEO, CADIA

    Play Episode Play 31 sec Highlight Listen Later Nov 16, 2021 28:17


    The automotive industry is missing out on a big pool of talent. In the words of Cheryl Thompson — CEO & Founder of the Center for Automotive Diversity, Inclusion, and Advancement (CADIA) — there is an untapped “goldmine for talent”. By tapping into it, we not only benefit our country and our industry but also our companies, with a broader, more diverse, and richer pool of prospects to choose from when hiring. Cheryl is a fourth-generation automotive professional who started as a waitress at Ford's Michigan Headquarters. She soon went into automotive engineering and product development, later becoming Ford's Global Prototype Manager and helping develop the powertrain technology found in some of today's leading vehicles. Today, at CADIA, she consults companies throughout the automotive industry on how they can power and grow their organizations through diversity, equity, and inclusion.   Interview Highlights:   Cheryl's life story — She tells how her 30 years in the automotive industry led to her founding CADIA A synopsis of the 4-hour class she teaches to OEMs, large auto groups, and other companies in the automotive industry We get many examples of how and why diversity can lead to a stronger automotive workforce   Episode Quote:   “We want to be able to leverage diversity, so that everyone can bring their best selves to work and do their best work.”  — Cheryl Thompson   || Dealer News Today is a DCG Media production

    Introducing: Transactions with Dave Cantin

    Play Episode Play 59 sec Highlight Listen Later Nov 11, 2021 23:57


    Welcome to the newest series on the Dealer News Today podcast network — Transactions with Dave Cantin — featuring the CEO and Founder of the Dave Cantin Group. Each week, Dave will give automotive market updates and break down the financial topics that matter most to auto dealers. On this first episode, Dave lays the groundwork for the show, discussing what it means to be an entrepreneur and executive in the automotive industry. He also gets into some important trending topics, such as “order your new car” sales models and the unprecedented activity now taking place in the automotive M&A market.   Episode highlights — Dave discusses:   How the Apple Store's process for ordering your new iPhone can be a model for ordering new vehicles at car dealershipsThe factors that have led to “the perfect storm” in the automotive mergers and acquisitions marketStories that show why automotive dealers are some of the most generous people in the business worldPlus, we get a teaser of the exclusive event the Dave Cantin Group will be hosting for its clients in Las Vegas during NADA, in March 2022. Episode Quote:   “That's the greatest reason why I'm so honed into the automotive industry. It's an industry that's not afraid to give in order to receive, and that's so critically important for doing business.” — Dave Cantin || Transactions is a DCG Media production

    “We're really in the people business.” || Rick Ford, CEO, RFJ Auto Partners

    Play Episode Play 48 sec Highlight Listen Later Nov 9, 2021 28:33


    Rick Ford's company, RFJ Auto, operates 40 dealerships across the American West and Midwest.   One of them is the largest CDJR dealership in the world, Dave Smith Motors, which sells 10-12k new vehicles, plus about 5000 used, per year. The surprising part?   This dealership is in Kellogg, Idaho — a town of 2,390 people. Their success (selling cars in 40 states in a typical month) comes from digital retailing. As you can imagine, their digital sales model brought them enormous success at the start of the pandemic.   But Rick Ford started from humble beginnings. Raised around cars, he was buying, repairing, and selling cars at the age of 14. He had a job servicing and detailing cars while in high school, where he was thrown into his first formal car sale at age 16 because the store's salesperson was out sick.   On this episode, Rick tells the story of his career, starting at the bottom then moving up the ranks and becoming the leader of RFJ Auto Partners. Throughout his career, he's always led with a philosophy of taking care of business by taking care of people.Interview Highlights:Lessons Rick has learned over his 40 years in the industry, as he notes that success “is a marathon, not a sprint”Lessons RFJ Auto has taken from running the country's most successful dealership in online retail, and how they've applied them at all their dealershipsThe story on RFJ's pending merger with Sonic Automotive, which will make them, together, the 5th largest auto group in the country.Episode Quote:“We have four pillars, and number one is our employees . . . I'm a firm believer that happy employees translate to happy customers.” — Rick Ford|| Dealer News Today is a DCG Media production

    “I want to be a part of something bigger.” || Jeffrey Mantz, CFO, Garnet Auto Group

    Play Episode Play 53 sec Highlight Listen Later Nov 4, 2021 25:41


    Jeff Mantz came into the automotive world through a career in accounting. When he was offered the opportunity to manage the financials at Garnet Auto Group, he said — “I will, but I want the opportunity not just to do the accounting, not just to do the financials, but I want to get involved. I want to learn the business. I want to understand how everything works.”On this episode, Jeff discusses what he's learned about dealership financials during his time as CFO at Garnet, including many key lessons that have come out of the pandemic. Oh and by the way, Derek D and Jeff Mantz are best friends from college. During their conversation, we get to hear some stories about their friendship, Jeff's father, and the cars they used to drive in.   Interview Highlights:   Insights on how to turn the best profit on used cars The toughest challenges Jeff has faced as CFO during the pandemic The two competing thought processes about the future of the automotive industry   Episode Quote:   “That's one thing about this industry. It's been tested every way to Sunday. It's resilient. It's gonna bounce back . . . People need cars and they always will.”   —Jeffrey Mantz|| Dealer News Today is a DCG Media production

    ”At the end of the day, if I'm in the store, I train.” || Adam Arens, CEO and Founder, Patriot Auto Group

    Play Episode Listen Later Oct 25, 2021 31:25


    CEO and founder of the Patriot Auto Group, Adam Arens, certainly keeps himself busy. After being talked into getting into the car business some 40 years ago and starting Patriot in 2003, he's expanded his horizons to include cannabis, reinsurance, non-profits and politics, to name a few. But what always brings him back to automotive is his love of helping his staff learn and grow. ”At the end of the day, if I'm in the store, I train.”Adam's employee happiness and retention-based approach of providing proper training, encouragement and a pathway to leadership has created a dealership environment of note, having been awarded Automotive News Best Dealerships to Work For 10 consecutive years, as well as 6 consecutive years of being the Best Place to Work in Maine. “You look at your whole auto group as a family. You want to take care of people, make sure they're happy, and help them in any way possible. We have a mission statement that declares what it is we're there to do, and it's followed up by retention of everybody - that's retention of your customers, retention of your family, retention of your associates, the people that work there - the longer they're there, the better they get.”Interview Highlights:Discusses how today's hot economy is having a trickle-down effect on supply and demand, which will last for years to comeHow technology in the days of covid has changed - and made even better - communication between his teamsHis relationship with Ernie Boch, Jr. (a recent DNT guest)Derek D.'s Rapid Fire Questioning roundEPISODE QUOTE:“Our mission statement is pretty simple, it's two words. It's “to serve” — the customer, the community, our families and each other. And it is who we are.” — Adam Arens|| Dealer News Today is a DCG Media production

    “Hopefully those lessons stick” || Bernie Moreno, President, Bernie Moreno Companies

    Play Episode Play 57 sec Highlight Listen Later Oct 7, 2021 29:03


    *The political views expressed in this episode do not represent the positions of Dealer News Today, the Dave Cantin Group, or Cox Automotive.Bernie Moreno's story shows the power of any person to pursue opportunity in America.His family came to the U.S. from Columbia when he was five. His love of cars took him to the University of Michigan, then an early career working with Saturn's corporate offices around the country. By 25, he was managing dealerships in Rhode Island, then Boston. He later bought a struggling Mercedes-Benz dealership in Cleveland, grew it into the most successful luxury dealership in the Midwest, and went on to own dealerships around the country.More recently, Moreno's company Ownum has released CHAMPtitles — a blockchain technology that securely digitizes car titles, making it safer and more efficient to transfer car ownership.Now he's on the campaign trail, running for a U.S. senate seat in Ohio. It was Moreno's belief in self-determination and hard work that inspired him to run for office, much of which he derived from his career in automotive.Interview Highlights:The future of blockchain in the auto industry. Can (or should) you buy a car with crypto currency?What are the good and bad habits that COVID has created in the car business?Episode Quote:“Once chips are more available, will they crank up production volume and oversupply cars? Will dealers go back into bad habits? Or will there be more equilibrium there? I'm hoping for the latter.”— Bernie Moreno

    “Consumers are widening their search radius” || Alex Vetter, CEO, Cars.com

    Play Episode Play 36 sec Highlight Listen Later Sep 30, 2021 27:12


    You might be surprised to learn Alex Vetter isn't exactly a car guy.But to hear him talk about the industry, you wouldn't know it. “I'm more focused on technology and business model evolution, and I leave the curation of the cars to the pros.”His website, Cars.com, hardly needs an introduction. It generates more organic traffic than any other website in the sector, with about 30 million visits per month, helping over 20,000 dealerships across the U.S. connect to customers who are searching for their next vehicle.With nearly 25 years at the head of Cars.com, Vetter is plugged into the automotive industry on both the manufacturing side and dealership side. On this episode, Derek D and Alex Vetter explore the insights that Cars.com generates as a “pretail” platform — where consumers go in the early research stage of the buying process — and more.Interview Highlights:Vetter's story of buying the Cars.com domain name in 1997 for $70k (and the mural in the company's lobby that's a reminder of that moment)How data from Cars.com shows consumer interest by geography, at a granular level — including make, model, and even colors that people are searching forThe ways in which the auto industry has led the country through the pandemic (not only economically)Episode Quote:“Things can start small. Good ideas happen everywhere . . . Now we have over 4,000 vehicles on our website on any given day, but it all started with one car.”— Alex Vetter|| Dealer News Today is a DCG Media production

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