Brink on Growing A Multi-State Group, Bennett on Leadership Development | Daily Dealer Live
About this episode
Black Friday in the automotive world is a significant event, and this episode dives into the latest industry news and insights. Host Sam Dark discusses the impact of social media on dealership performance, the importance of half-ton pickups in sales, and the ongoing M&A activity with a focus on Penske Automotive's recent sale. Guests Nolan Brink and Matt Bennett share their experiences in dealership management and leadership development, emphasizing the need for effective training and accountability. The episode highlights the evolving landscape of automotive retail and the critical role of data in decision-making.
S&P Global Mobility Report
"A new S&P Global Mobility Report breaks down just how critical this segment is to US auto retail"
The S&P Global Mobility Report is a study that looks at how many cars and trucks people buy, what’s popular, and how the market is doing.
The S&P Global Mobility Report is an industry analysis that tracks sales, market trends, and economic indicators for vehicles worldwide. It provides data on how different vehicle segments perform in the market.
half-ton pickups
"Half‑tun pickups alone account for 8.2% of all new vehicle sales through August"
A half‑ton pickup is a small truck that can haul about 2,000 pounds. It’s common for people who need a vehicle to move stuff but don’t want a big truck.
Half‑ton pickups are light commercial trucks that can carry up to 2,000 pounds of cargo. They’re popular for small businesses and personal use because they offer a good balance of payload, fuel economy, and maneuverability.
quarter-ton trucks
"Those same architectures also power three quarter-ton and one‑ton heavy‑duty trucks"
A quarter‑ton truck is a medium‑size truck that can carry about 4,000 pounds. It’s bigger than a half‑ton pickup and used for heavier jobs.
Quarter‑ton trucks are heavier commercial vehicles that can carry up to 4,000 pounds. They’re used for larger deliveries and more demanding work than half‑ton pickups.
full-size SUVs
"full‑size SUVs, 3.6%, you added all up"
Full‑size SUVs are big cars that can seat many people and have a lot of cargo space. They’re good for families or outdoor adventures.
Full‑size SUVs are large sport utility vehicles that offer spacious interiors, high ground clearance, and often powerful engines. They’re popular for families and off‑road enthusiasts.
heavy-duty trucks
"heavy‑duty trucks, or full‑size utilities can hit $30,000 per unit"
Heavy‑duty trucks are big trucks that move heavy stuff like building materials or long shipments. They’re built to be strong and reliable.
Heavy‑duty trucks are large commercial vehicles designed for hauling heavy loads, such as construction equipment or long‑haul freight. They typically have powerful engines and robust chassis.
margin
"Not only volume, but margin. Half‑tun profits start around 10,000 and heavy‑duty trucks can hit $30,000 per unit"
Margin is the money left over after a car company pays for making the vehicle. It shows how much profit they make on each sale.
Margin refers to the profit a manufacturer or dealer makes on each vehicle sold, calculated as the difference between selling price and production cost. Higher margins indicate more profitability.
AutoSISAC
"Next up today, here's a wake-up call coming out of the Auto SISAC annual cyber security conference."
AutoSISAC is a group that helps car makers and dealers keep cars safe from hackers by sharing information and hosting events.
AutoSISAC is a leading industry association that focuses on automotive cybersecurity, providing research, best practices, and conferences to help manufacturers, suppliers, and dealers protect connected vehicles from cyber threats.
connected car ecosystem
"The modern connected car ecosystem now produces hundreds of digital touchpoints, building a virtual perimeter that's massive..."
A connected car ecosystem is the web of devices and services that let a car talk to other cars, roads, and the internet for things like GPS or software updates.
The connected car ecosystem refers to the network of hardware, software, and services that allow vehicles to communicate with each other, infrastructure, and cloud platforms, enabling features like navigation, diagnostics, and over-the-air updates.
digital touchpoints
"The modern connected car ecosystem now produces hundreds of digital touchpoints, building a virtual perimeter that's massive..."
Digital touchpoints are places where a car connects to the internet or other devices, like the screen inside the car or the system that sends data to a server.
Digital touchpoints are the various points of interaction between a vehicle and digital systems—such as infotainment screens, telematics units, or cloud services—that can be accessed by users or external entities.
OEM
"Most of the software and API connections inside a dealership don't come from the OEM."
OEM means the original company that made the car or part. They’re the main source of official software and updates.
OEM stands for Original Equipment Manufacturer, the company that originally builds a vehicle or component. In automotive software, OEMs provide the core systems and updates for cars.
third-party vendors
"They come from third‑party vendors."
Third‑party vendors are outside companies that sell extra tools or services to car dealers. They’re not the car makers themselves.
Third‑party vendors are external companies that supply software, hardware, or services to dealerships but are not the vehicle manufacturer. Their solutions can add functionality but may introduce security gaps.
AI tools
"many automotive companies are also rushing AI tools into their operations"
AI tools are programs that use computer intelligence to help with tasks like data analysis or automating work in car businesses.
AI tools refer to software applications that use artificial intelligence algorithms to automate tasks, analyze data, or enhance decision‑making in automotive operations.
cyber security scaffolding
"without putting the proper governance, validation, or cyber security scaffolding underneath"
Cyber security scaffolding is a set of rules and protections that keep car software safe from hackers. It’s like building a strong fence around the system.
Cyber security scaffolding is a framework of policies, procedures, and technical controls that protect automotive software from cyber threats. It ensures secure deployment and operation of new tools.
Stellantis
"Senate Republicans want the CEOs of GM, Ford, Stellantis, and Tesla in front of a committee"
Stellantis is a big car company that owns many different brands, including Jeep and Ram.
Stellantis is a multinational automotive group formed from the merger of Fiat Chrysler Automobiles and PSA Group, owning brands like Jeep, Ram, Peugeot, and Citroën.
Tesla
"Senate Republicans want the CEOs of GM, Ford, Stellantis, and Tesla in front of a committee"
Tesla makes electric cars that can drive themselves a bit and are popular for their technology.
Tesla, Inc. is an American electric vehicle manufacturer known for its Model S, 3, X, and Y cars, as well as advanced autonomous driving features.
Ford
"Senate Republicans want the CEOs of GM, Ford, Stellantis, and Tesla in front of a committee"
Ford is a well-known car company that makes trucks, cars, and SUVs.
Ford Motor Company is an American automaker famous for models like the Ford F-150 pickup and Mustang sports car.
GM
"Senate Republicans want the CEOs of GM, Ford, Stellantis, and Tesla in front of a committee"
GM is a big car company that makes many different cars and trucks you might see on the road.
General Motors is one of the largest automobile manufacturers in the United States, known for brands like Chevrolet, Buick, GMC, and Cadillac.
rear seat reminders
"We're talking about automatic emergency breaking, rear seat reminders, and the stack of features regulators want baked into every new car."
These reminders tell you if someone or something is still in the back seat so you don't forget them.
Rear seat reminders are alerts that notify drivers when passengers or items remain in the back seat after departure, enhancing safety.
automatic emergency breaking
"We're talking about automatic emergency breaking, rear seat reminders, and the stack of features regulators want baked into every new car."
AEB is a feature that helps stop your car automatically if it thinks you might hit something.
Automatic Emergency Braking (AEB) is a safety system that detects an impending collision and automatically applies the brakes to reduce impact or avoid the crash.
Cochran Auto Group
"So I've been in the industry since, call it 2010, came up on the variable side, started selling cars..."
Cochran Auto Group is a group of car dealerships that sell many different brands.
Cochran Auto Group is a dealership network that sells various automotive brands.
Morgan Auto Group
"...worked into sales manager, finance manager, general sales manager, overseeing multiple stores for the Cochran Auto Group and then I ended up moving down to Florida..."
Morgan Auto Group runs several car dealerships in different places.
Morgan Auto Group is a dealership group that operates multiple car sales locations.
Jim Shorty Auto Group
"And then, you know, due to family reasons, moved back to Pittsburgh, I worked for the Jim Shorty Auto Group."
Jim Shorty Auto Group is a group of car dealerships that sell many different brands.
Jim Shorty Auto Group is a dealership chain that sells various vehicle brands.
Kia
"I oversee the Kia store in Wexford, which past three years, it's been the top volume store in the state."
Kia makes cars that are usually cheaper and dependable, like the Kia Soul or Kia Optima.
Kia is a South Korean automotive manufacturer known for producing affordable, reliable vehicles such as the Kia Optima and Kia Soul.
BDC
"[1048.3s] And just let you know, so as a company, the company, as our company, I didn't personally get rid of the BDC. [1053.8s] Our company did. [1054.8s] It was something we did a few years ago."
BDC is a feature that helps your car stop more safely by sending the right amount of brake power to each wheel, especially when you need a quick stop.
BDC stands for Brake Distribution Control, a system that adjusts braking force between wheels to improve stability and reduce wheel lockup during hard stops.
Matador AI
"Taze Black Friday episode is brought to you by Matador AI, Matador handles calls, texts, and faults"
Matador AI helps companies handle phone calls and texts automatically, making customer service smoother.
Matador AI is a software company that provides automated call, text, and fault management solutions for businesses.
NADA
"of their experiential learning, we'll fly to NADA at Las Vegas"
NADA is a big group that helps car dealers in the U.S. by giving them information, support, and meetings.
The National Automobile Dealers Association (NADA) is a trade organization that represents new and used car dealers in the United States, providing industry data, advocacy, and events.
CDK Global
"working with NADA, Reynolds and Reynolds, CDK Global"
CDK Global makes computer tools that help car dealerships run their business and advertise cars online.
CDK Global provides technology and services for automotive dealers, including dealership management systems, digital marketing, and data analytics.
Reynolds and Reynolds
"working with NADA, Reynolds and Reynolds, CDK Global"
Reynolds and Reynolds makes computer programs that help car dealerships keep track of cars, sell them, and talk to customers.
Reynolds and Reynolds is a leading automotive retail software company that offers solutions for inventory, sales, marketing, and customer relationship management.
automotive MBA
"this automotive MBA that we've talked about"
An automotive MBA is a college program that teaches people how to run car businesses, from selling cars to managing parts and services.
An automotive MBA is a specialized business degree focused on the automotive industry, covering topics like retail strategy, supply chain, and technology.
aftermarket industry convergence with retail
"how that aftermarket industry is converging with retail"
Aftermarket parts are accessories or repairs made by companies other than the car maker. Now, these part sellers are working closely with dealerships to offer more services in one place.
This refers to the blending of aftermarket parts and service businesses with traditional car dealership operations, creating integrated customer experiences.
dealership locations with parts and service departments
"having parts and service departments and collision departments"
Dealerships now have separate rooms where you can buy spare parts, get your car fixed for regular maintenance, or repair damage from accidents.
Many modern car dealerships have dedicated areas for selling parts, performing maintenance, and handling collision repairs, enhancing customer convenience.
collision departments
"collision departments"
Collision departments fix dents, scratches, or other damage to a car’s body after an accident, usually using parts that match the original maker.
Collision departments are specialized units within dealerships that repair vehicle body damage, often using OEM parts and certified technicians.
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