13 Years at Ford — Why He Now Owns a Dealership (and How He Drove a 7% Profit Turnaround) | Doug Gilmour, Dealer Principal of Malone Ford
About this episode
Doug Gilmour, former Ford marketing executive, shares his journey from a 13-year career at Ford to becoming the dealer principal of Malone Ford. He discusses the challenges of transitioning from corporate life to dealership ownership, including the emotional and financial risks involved. Doug highlights the importance of building a strong team, implementing effective training programs, and leveraging technology to improve profitability. He also reflects on the evolving automotive landscape, the significance of customer choice, and the role of community engagement in his dealership's success.
EVs
"And the EVs is the most glaring example of that, right?"
EVs are cars that run on electricity instead of gasoline or diesel. They use batteries to power an electric motor, making them more environmentally friendly.
EVs stands for Electric Vehicles, which are powered entirely by electricity stored in batteries. They are becoming increasingly popular as an alternative to traditional ICE vehicles due to their lower emissions and running costs.
ICE vehicles
"Like, there's a lot of ICE vehicles, not just Ford, right?"
ICE vehicles are cars that run on fuel like gasoline or diesel. They use engines that burn this fuel to power the car, unlike electric vehicles that use batteries.
ICE vehicles refer to Internal Combustion Engine vehicles, which are powered by gasoline or diesel engines. They are the traditional type of vehicles that have been dominant in the automotive market for over a century.
cycle plan
"...the cycle plan and your portfolio"
A cycle plan is a schedule that car companies use to decide when to make and sell new cars. It helps them keep up with what people want, especially as more electric cars are being made.
A cycle plan refers to the strategy that manufacturers use to manage the production and release of new vehicle models over a set period. It helps manufacturers plan for changes in consumer demand and market trends, especially with the shift towards electric vehicles.
Jeep
"I mean, but just to think how far Jeep and Ram fell off, I mean, those are iconic brands."
Jeep is a well-known car brand famous for making tough vehicles that can go off-road, like the Wrangler.
Jeep is an iconic American automotive brand known for its off-road vehicles and rugged design. It has a strong heritage and is often associated with adventure and outdoor activities.
Ram
"I mean, but just to think how far Jeep and Ram fell off, I mean, those are iconic brands."
Ram is a brand that makes trucks and vans, and it's known for building strong vehicles that can carry heavy loads.
Ram is a brand of trucks and vans that was originally part of Dodge. It is known for its powerful trucks that are popular for both work and personal use.
BYD
"like BYD, which is, you know, a very cool company. And honestly, just brings, we need that competition, right?"
BYD is a car company from China that makes electric cars and batteries. They are known for being innovative and competing with other car brands.
BYD is a Chinese automotive company known for its electric vehicles and batteries. It has gained recognition for its innovative approach and competitiveness in the global automotive market.
Hyundai
"...when Hyundai Kia first were coming to the US, I mean, and it, you know, it looked like, you know, funny looking Mercedes or whatever, look at them now."
Hyundai is a car company from South Korea that makes many types of vehicles, including sedans and SUVs. They are known for offering good quality at affordable prices.
Hyundai is a South Korean automotive manufacturer known for producing a wide range of vehicles, from economy cars to SUVs. They have gained a reputation for quality and value over the years.
Kia
"...when Hyundai Kia first were coming to the US, I mean, and it, you know, it looked like, you know, funny looking Mercedes or whatever, look at them now."
Kia is another car company from South Korea that makes a variety of vehicles. They are known for their stylish designs and good warranties.
Kia is a South Korean automobile manufacturer that is a subsidiary of Hyundai. They are known for producing stylish and affordable vehicles with a strong warranty program.
Mercedes
"...funny looking Mercedes or whatever, look at them now."
Mercedes is a famous car brand from Germany that makes luxury vehicles. They are known for their high-quality cars and innovative features.
Mercedes-Benz is a German luxury automotive brand known for its high-quality vehicles and advanced technology. The brand is synonymous with luxury and performance.
Stellantis
"...what he was doing with Stellantis, right, before he passed away. But now they're struggling..."
Stellantis is a big car company that makes many different brands of cars, like Jeep and Dodge. It was created when two companies merged together.
Stellantis is a multinational automotive manufacturing corporation formed from the merger of Fiat Chrysler Automobiles and PSA Group. It encompasses a wide range of brands, including Jeep, Dodge, and Peugeot.
Nissan
"...think about like how that fell apart."
Nissan is a car company from Japan that makes many types of vehicles, including electric cars. They are known for their reliable cars.
Nissan is a Japanese automotive manufacturer known for producing a wide range of vehicles, including sedans, SUVs, and electric cars like the Nissan Leaf.
Jaguar
"Like Ford consolidated, I mean, I forgot how many brands they had, Volvo, Land Rover, Jaguar, right?"
Jaguar is a luxury car brand from England that makes stylish and fast cars. They are known for their beautiful designs and high performance.
Jaguar is a British luxury vehicle brand known for its stylish and performance-oriented cars. The brand has a rich history and is recognized for its sports cars and sedans.
Land Rover
"Like Ford consolidated, I mean, I forgot how many brands they had, Volvo, Land Rover, Jaguar, right?"
Land Rover is a car brand from the UK that makes luxury SUVs. They are known for being able to drive off-road and handle tough terrains.
Land Rover is a British automotive brand known for its luxury SUVs that are capable of off-road driving. The brand has a strong heritage and is associated with ruggedness and adventure.
Volvo
"Like Ford consolidated, I mean, I forgot how many brands they had, Volvo, Land Rover, Jaguar, right?"
Volvo is a car brand from Sweden that is famous for making safe and reliable cars. They have different types of vehicles, including family cars and SUVs.
Volvo is a Swedish automotive brand known for its focus on safety and quality. The company produces a range of vehicles, including sedans, SUVs, and station wagons, and has a reputation for innovative safety features.
Mercury
"You know, Lincoln, Mercury, I know I'm forgetting something, but, oh, Aston Martin of all vehicles, right?"
Mercury was a car brand that used to be part of Ford. They made cars that were stylish and comfortable, but the brand is no longer around since 2010.
Mercury was a brand of automobiles that was part of Ford, known for producing mid-range vehicles. The brand was discontinued in 2010, but it was recognized for its stylish designs and comfort.
Aston Martin
"but, oh, Aston Martin of all vehicles, right?"
Aston Martin is a luxury car brand from the UK that makes very fast and stylish sports cars. They are famous for appearing in James Bond movies.
Aston Martin is a British luxury sports car manufacturer known for its high-performance vehicles and association with James Bond films. The brand is celebrated for its craftsmanship and elegant design.
Toyota
"...Toyota hasn't consolidated and they kill it. Yes. They kill it. I mean, no one's even close to them."
Toyota is a car company from Japan that makes many popular and reliable cars. They are one of the largest car makers in the world.
Toyota is a Japanese automotive manufacturer known for its reliable vehicles and innovative production techniques. It has consistently ranked among the top car manufacturers in terms of sales and profitability.
Lincoln Navigator
"you look at a navigator, you look at an aviator, the new Nautilus want a tremendous amount of awards."
The Lincoln Navigator is a big luxury SUV that offers a lot of space and comfort, making it great for families or long trips.
The Lincoln Navigator is a full-size luxury SUV known for its spacious interior, advanced technology, and powerful performance.
Lincoln Aviator
"you look at a navigator, you look at an aviator, the new Nautilus want a tremendous amount of awards."
The Lincoln Aviator is a mid-sized luxury SUV that offers a comfortable ride and many high-end features.
The Lincoln Aviator is a mid-size luxury SUV that combines performance with upscale features and technology.
Lincoln Nautilus
"you look at a navigator, you look at an aviator, the new Nautilus want a tremendous amount of awards."
The Lincoln Nautilus is a luxury SUV that focuses on comfort and has many modern features for a pleasant driving experience.
The Lincoln Nautilus is a luxury midsize SUV that emphasizes comfort, technology, and a smooth driving experience.
Tesla
"But do you think there's something, like there's, it seems like we have this tale of two worlds where you have the Teslas, you have very few SKUs, relatively speaking, right?"
Tesla is a car company that makes electric cars. They are known for being high-tech and environmentally friendly.
Tesla is an American electric vehicle and clean energy company founded by Elon Musk and others. It is known for its innovative electric cars and sustainable energy products.
moon roof
"...options, you know, moon roofs, you know, massaging seats..."
A moon roof is a glass panel in the roof of a car that can open to let in light and air. It's different from a regular sunroof because you can see through it.
A moon roof is a type of sunroof that is made of glass and allows light into the vehicle while also being operable to let fresh air in. Unlike a traditional sunroof, which is typically opaque, a moon roof is transparent and often extends over the front and back seats.
massaging seats
"...massaging seats, you know, with your luxury customer..."
Massaging seats are special car seats that can give you a massage while you sit in them. They are designed to make long trips more comfortable.
Massaging seats are a luxury feature in some vehicles that provide a massage function to the occupant. This feature can enhance comfort during long drives and is often adjustable to suit individual preferences.
aftermarket companies
"...there's so many aftermarket companies that retrofit Teslas..."
Aftermarket companies make car parts and accessories that you can buy after you purchase a car. They can help you customize your vehicle or improve its performance.
Aftermarket companies are businesses that produce parts and accessories for vehicles that are not made by the original manufacturer. These companies often provide enhancements or customizations that can improve performance or aesthetics.
Ford Explorer
"..., I remember I was like, we had removed it, like Explorer was one of the vehicles. We removed a ton of con..."
The Ford Explorer is a large car designed for families and adventures. It has lots of space inside for passengers and their stuff, which makes it great for road trips or everyday use.
The Ford Explorer is a mid-size SUV that has been a staple in the American automotive market since its introduction in 1990. Known for its spacious interior and versatility, the Explorer is popular among families and outdoor enthusiasts alike, making it a frequent topic of discussion regarding SUVs.
incentives
"...it turned out there was some clerical error in India with Ford paying me on all my incentives and everything else..."
Incentives are money or deals that car companies give to help sell their cars. They can make the price lower or make it easier to buy a car.
In the automotive context, incentives are financial benefits offered by manufacturers or dealers to encourage customers to purchase vehicles. These can include cash rebates, low-interest financing, or special lease offers.
below the line margins
"...you buy and all the, you know, the below the line margins..."
Below the line margins are extra costs or profits that aren't shown in the main price of a car. They can include special deals or incentives that affect how much money a dealer makes.
Below the line margins refer to the profit margins that are not included in the standard pricing of a vehicle. They often involve additional costs or incentives that can affect the overall profitability of a sale.
Cadillac ELR
"...ring how important it is to use cars and focus on ELR and new video MPIs, you know, getting the team t..."
The Cadillac ELR is a fancy car that can run on electricity and gas. It's designed to be more eco-friendly while still offering a comfortable and stylish ride.
The Cadillac ELR is a luxury plug-in hybrid coupe that was produced from 2014 to 2016. It combines electric power with a gasoline engine for improved fuel efficiency and reduced emissions, showcasing Cadillac's commitment to innovation in the luxury segment.
Dynatron
"...like the service side and another guy's like, Hey, you ever heard of Dynatron?"
Dynatron is a brand that makes tools and equipment for fixing cars. They help mechanics do their jobs better and more efficiently.
Dynatron is a company that specializes in automotive service equipment and tools, often used in body shops and repair facilities. They provide products that help with vehicle maintenance and repair processes.
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