Auto Marketing Monday w/ Jeff Ramsey, Brian Kramer, and Dustin Clark | Daily Dealer Live
About this episode
Marketing Monday brings insights from industry leaders Jeff Ramsey, Brian Kramer, and Dustin Clark, discussing the latest automotive news and trends. Key topics include the challenges faced by dealerships due to vehicle titling violations, Honda's profit drop amid tariffs and chip shortages, and the implications of Apple's CarPlay Ultra on automakers. The episode dives into effective marketing strategies, the importance of digital leads, and how to optimize advertising spend. Guests share their experiences with inventory management and the evolving landscape of automotive marketing, highlighting the need for data-driven decisions.
U.S. tariffs
"...pressure the automaker is under from U.S. tariffs and the ongoing Nexperia chip shortage."
U.S. tariffs are extra taxes that the government puts on products coming from other countries, making it more expensive for companies like Honda to bring in parts.
U.S. tariffs are taxes imposed on imported goods, which can increase costs for automakers like Honda when sourcing parts or materials from abroad.
Nexperia chip shortage
"...the ongoing Nexperia chip shortage. Net profit fell 37% in the first half of its fiscal year to about $2 billion..."
The Nexperia chip shortage means there aren't enough computer chips available, which is causing problems for car manufacturers trying to make vehicles.
The Nexperia chip shortage refers to a lack of semiconductor chips produced by Nexperia, impacting automotive production and supply chains.
Acura
"...that could affect more than 100,000 Honda and Acura vehicles."
Acura is the luxury brand of Honda, making fancier cars with more features and better performance.
Acura is Honda's luxury vehicle division, offering premium cars with advanced features and performance.
Aston Martin
"So far, Aston Martin is the only brand fully on board. But others, like Ford and General Motors, are worried that Apple's deeper integration..."
Aston Martin is a famous car company from the UK that makes luxury sports cars. They're known for their stylish designs and fast performance, often seen in movies like James Bond.
Aston Martin is a British luxury sports car manufacturer known for its high-performance vehicles and elegant design. The brand is often associated with James Bond films, showcasing a blend of luxury and performance.
Ford
"But others, like Ford and General Motors, are worried that Apple's deeper integration..."
Ford is a well-known car company from the United States that makes many types of vehicles, including trucks and cars. They're famous for models like the Ford F-150 truck and the Mustang sports car.
Ford is an American multinational automaker known for producing a wide range of vehicles, from trucks to sedans. The company has a long history in the automotive industry and is recognized for models like the F-150 and Mustang.
General Motors
"But others, like Ford and General Motors, are worried that Apple's deeper integration..."
General Motors, or GM, is a big car company in the U.S. that makes various vehicles under different brand names like Chevrolet and Cadillac. They are one of the largest car manufacturers in the world.
General Motors (GM) is an American multinational corporation that designs, manufactures, and sells vehicles and vehicle parts. GM is known for brands such as Chevrolet, Cadillac, and GMC, and has a significant presence in the automotive market.
Apple CarPlay Ultra
"...Apple CarPlay Ultra blurs the line between car and smartphone and that's forcing automakers to rethink how much control they're willing to give up..."
Apple CarPlay Ultra is a system that connects your iPhone to your car, letting you use apps and features from your phone on the car's screen. It makes it easier to access music, navigation, and other smartphone functions while driving.
Apple CarPlay Ultra is an advanced version of Apple's infotainment system that integrates smartphone features into a vehicle's dashboard. It allows for seamless connectivity and control of apps and functions directly from the car's interface.
Lexus
"which is recalling just over 1 million vehicles across the Toyota, Lexus and Subaru brands."
Lexus is a luxury car brand that is part of Toyota, making high-end vehicles like the RX and ES.
Lexus is the luxury vehicle division of Toyota, known for its premium cars and SUVs.
Subaru
"which is recalling just over 1 million vehicles across the Toyota, Lexus and Subaru brands."
Subaru is a car company from Japan that makes vehicles known for their all-wheel drive, like the Outback and Forester.
Subaru is a Japanese automaker known for its all-wheel-drive vehicles and rugged designs.
Panoramic View Monitor system
"The issue affects 39 different models with the Panoramic View Monitor system."
The Panoramic View Monitor system is a feature that shows a wide view around the car to help drivers see better when parking.
The Panoramic View Monitor system provides a 360-degree view around the vehicle, assisting drivers in parking and maneuvering.
Honda Civic
"...ber. Meanwhile, Honda is recalling about 406,000 Civic models from 2016 through 2021 tied to aftermarke..."
The Honda Civic is a small car that many people like because it's dependable and saves on gas. It's been around for a long time, and sometimes there are safety recalls, which means the company asks owners to bring their cars in for fixes.
The Honda Civic is a compact car known for its reliability, fuel efficiency, and practicality. It has been a popular choice among drivers for decades and is often discussed due to its strong resale value and the recent recall affecting models from 2016 to 2021, which highlights the importance of safety in automotive discussions.
18-inch alloy wheels
"tied to aftermarket 18-inch alloy wheels sold through dealers."
18-inch alloy wheels are special wheels made from a mix of metals that are lighter and look nicer than regular steel wheels.
18-inch alloy wheels are lightweight wheels made from a mixture of metals, providing better performance and aesthetics compared to standard steel wheels.
recall
"Honda will inspect and replace affected wheels and hubs at no cost. Of course, with owner letters going out December 8th."
A recall is when a car company asks people to bring their cars back to fix a problem that could be dangerous. They do this to keep everyone safe.
A recall is a request to return a product to the manufacturer for repair or replacement due to safety concerns. In the automotive industry, recalls are often issued for defects that could pose risks to drivers and passengers.
CarMax
"...which is what Carvana and Carmax do. You know, they wholesale after the cars they source..."
CarMax is a company that sells used cars and makes it easy to buy a car without negotiating prices. They have a lot of cars to choose from and buy cars from people too.
CarMax is a leading retailer of used cars in the United States, known for its no-haggle pricing and large inventory. They provide a straightforward buying experience and often buy cars directly from consumers.
Carvana
"...wholesale probably more than you should because, you know, which is what Carvana and Carmax do. You know, they wholesale after the cars they source..."
Carvana is a company that sells used cars online. You can buy a car from them without going to a dealership, and they even have machines that look like vending machines where you can pick up your car.
Carvana is an online used car retailer that allows customers to buy, sell, and trade vehicles through a digital platform. They are known for their unique car vending machines and home delivery service.
appraisal tools
"...a lot of the appraisal tools, well, you know, the competitive sets that are calculated with it, they're all different. There's no two appraisal tools that are the same..."
Appraisal tools help car dealers figure out how much a car is worth. They look at lots of information to give a good price for buying or selling a vehicle.
Appraisal tools are software or systems used by dealerships to evaluate the value of a vehicle. They analyze various data sets, including market trends and vehicle conditions, to provide accurate pricing for buying or selling cars.
VHR
"When you remove those, and they're only selling low mileage, clean VHR, the right equipment,"
VHR means Vehicle History Report. It's a document that tells you what has happened to a car before you buy it, like if it was in an accident or how many owners it had.
VHR stands for Vehicle History Report, which provides important information about a vehicle's past, including accidents, service history, and previous ownership. It is crucial for buyers to assess a used car's condition and value.
navigation
"the right equipment, panel roof, big wheels, navigation, you take those out of the competitive set."
Navigation is a system in cars that helps you find directions using GPS. It tells you where to go and can show you traffic conditions.
Navigation refers to a system that helps drivers find their way using GPS technology. It can provide directions, traffic updates, and points of interest, enhancing the driving experience.
cost of market
"So if you take all those out, that really, that can make a 102% cost of market become 94% very quickly when you add all those other cars back into the set."
Cost of market is how much cars are generally selling for in a certain area. It helps sellers know what price to set for their cars to be competitive.
Cost of market refers to the average price of vehicles in a specific market segment. It helps dealerships and sellers determine competitive pricing for their vehicles based on market trends and demand.
Toyota Rav4S
"...just type in, I'm looking for 2022 to 2024 Toyota RAV4s, you know, between 15,000 and 35,000 miles. You ..."
The Toyota RAV4 is a small SUV that has a lot of room inside and is good on gas. People like it because it's practical for families and can handle different types of driving.
The Toyota RAV4 is a compact SUV that combines spaciousness with fuel efficiency, making it a popular choice for families and outdoor enthusiasts. Its versatility and strong reputation for reliability often make it a topic of discussion, especially when considering used models from recent years.
power liftgate
"I want a power liftgate today or in yesterday's world, that's hard, you know, with the way the build sheet that is to do the Vindicoting."
A power liftgate is a feature that lets you open and close the back of your car automatically, which is really handy when your hands are full.
A power liftgate is a feature in some vehicles that allows the rear hatch to open and close automatically, usually with the push of a button or through a key fob.
Mercedes-Benz GLC
"...ent, multiple VHR issues. Then, you know, like a GLC Mercedes that has two wheel drive, no panel roof..."
The Mercedes-Benz GLC is a fancy small SUV that is known for being comfortable and having lots of high-tech features. It's talked about because it can have some problems, especially with certain parts, so it's good to know what to look out for.
The Mercedes-Benz GLC is a luxury compact SUV that offers a blend of comfort, technology, and performance. It is often mentioned in discussions about premium vehicles, particularly regarding its various configurations and potential issues related to reliability and maintenance.
MSRP
"the difference in the MSRP doesn't justify it when it's coming back out."
MSRP is the price that the car maker suggests for their vehicle. It's like a starting point, but dealers might sell it for more or less.
MSRP stands for Manufacturer's Suggested Retail Price. It is the price that the manufacturer recommends that the dealer sell the vehicle for, but actual sale prices may vary.
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