Hall on Winning Back Service, Janes on Used Supply Constraints, Bright on Safety | Daily Dealer Live
About this episode
The episode dives into significant automotive industry developments, including Ford's partnership with Amazon to sell certified pre-owned vehicles, which aims to enhance dealer traffic rather than bypass them. Discussions also cover South Korea's increased EV subsidies in response to U.S. tariffs, and rising subprime auto delinquencies indicating financial strain among buyers. Notable guest Don Hall advocates for the franchise model, emphasizing its benefits for consumers and dealers alike, while Will Bright introduces innovative AI dash cam technology aimed at enhancing vehicle safety and dealer profitability. Patrick Janes addresses competitive data strategies in the used car market.
Ford
"First up today in news, Ford is teaming up with Amazon to sell certified pre-owned vehicles, making Ford the second automaker to plug into Amazon Autos after Hyundai joined the platform last year."
Ford is a well-known car company that makes many types of vehicles, like trucks and cars.
Ford is a major American automotive manufacturer known for producing a wide range of vehicles, including trucks, cars, and SUVs.
Hyundai
"making Ford the second automaker to plug into Amazon Autos after Hyundai joined the platform last year."
Hyundai is a car company from South Korea that makes many different types of cars, including electric ones.
Hyundai is a South Korean automotive manufacturer known for producing a variety of vehicles, including sedans, SUVs, and electric cars.
certified pre-owned vehicles
"Ford is teaming up with Amazon to sell certified pre-owned vehicles, making Ford the second automaker to plug into Amazon Autos after Hyundai joined the platform last year."
Certified pre-owned vehicles are used cars that have been checked and approved by the dealer to make sure they are in good condition, often with some warranty.
Certified pre-owned vehicles are used cars that have been inspected, refurbished, and certified by the manufacturer or dealer to meet specific standards, often coming with a warranty.
Amazon Autos
"Ford is teaming up with Amazon to sell certified pre-owned vehicles, making Ford the second automaker to plug into Amazon Autos after Hyundai joined the platform last year."
Amazon Autos is a part of Amazon where you can look for and buy cars online, similar to how you shop for other products on Amazon.
Amazon Autos is a platform by Amazon that allows customers to browse and purchase vehicles online, including certified pre-owned options from various automakers.
CPO program
"And depending on how the CPO program performs, Ford may eventually look at listing new vehicles on Amazon as well."
CPO means Certified Pre-Owned. It's a way for car companies to sell used cars that are in good condition and come with some guarantees, like a warranty.
CPO stands for Certified Pre-Owned, which is a program offered by manufacturers to sell used vehicles that meet specific criteria, including age, mileage, and condition. These vehicles often come with extended warranties and other benefits, making them more appealing to buyers.
EV subsidies
"Next up, in an effort to cushion the blow from U.S. auto tariffs, the South Korean government is rolling out a major bump in EV subsidies at home to keep its industry competitive."
EV subsidies are money given by the government to help people buy electric cars. This makes it cheaper for buyers and encourages more people to switch to electric vehicles.
EV subsidies are financial incentives provided by governments to encourage the purchase of electric vehicles. These can include tax credits, rebates, and grants that lower the overall cost of buying an electric car.
auto tariffs
"Next up, in an effort to cushion the blow from U.S. auto tariffs, the South Korean government is rolling out a major bump in EV subsidies at home to keep its industry competitive."
Auto tariffs are extra taxes that make imported cars more expensive. This is done to help local car manufacturers compete better.
Auto tariffs are taxes imposed on imported vehicles and automotive parts. These tariffs can increase the cost of foreign vehicles, making domestic products more competitive in the market.
Kia
"Both Hyundai and Kia stand to benefit the most."
Kia is another car company from South Korea that makes different kinds of cars, including electric ones. They focus on providing good value for money.
Kia is a South Korean automotive manufacturer that produces a variety of vehicles, including cars and SUVs. It is known for offering value-oriented vehicles with a strong warranty and has been expanding its electric vehicle lineup.
Tesla
"...Elon Musk owns Tesla. We talked about distribution models."
Tesla is a car company that makes electric cars, which run on batteries instead of gasoline. They are known for being very advanced and popular.
Tesla is an American electric vehicle manufacturer known for its innovative technology and high-performance electric cars.
NADA Dealer Academy
"...You're fresh off a week at the NADA Dealer Academy. And the stat that jumped off the page for us as we talked about it prepping today was..."
The NADA Dealer Academy is a school for people who work in car dealerships. It teaches them how to run the dealership better and improve sales and service.
The NADA Dealer Academy is an educational program offered by the National Automobile Dealers Association aimed at training dealership professionals in various aspects of dealership operations, including management and sales.
Fixed Ops
"...Fixed Ops is still the most profitable part of the dealership. Yet a lot of owners under leverage it. Why do you think that is that Fixed Ops is so under leveraged today?"
Fixed Ops means the parts and service side of a car dealership. It's where they fix cars and sell parts, and it usually makes more money than just selling cars.
Fixed Ops, short for Fixed Operations, refers to the parts and service departments of a dealership. This area is crucial for generating revenue and profit, often more so than vehicle sales.
parts and service
"...I remember back then that parts and service was, you know, it was a necessary part of our business. It's the people in the back end."
Parts and service are the parts of a car dealership that fix cars and sell parts needed for repairs. They help keep customers coming back after they buy a car.
Parts and service refer to the departments in a car dealership that handle vehicle repairs and the sale of replacement parts. These departments are essential for maintaining customer relationships and generating ongoing revenue.
pedestrian detection
"...bring advanced safety features like pedestrian detection that works using cameras instead of ultrasonic sensors or radars..."
Pedestrian detection helps cars see people walking in front of them. If the car notices someone in the way, it can warn the driver or stop the car to avoid hitting them.
Pedestrian detection is a safety feature that uses cameras and sensors to identify pedestrians in the vehicle's path, helping to prevent accidents. This technology can alert the driver or even apply the brakes automatically if a pedestrian is detected.
hands-free cruise control
"We bring hands-free crews and traffic assist. So, you know, on those long commutes on the highway, you can press the cruise control button..."
Hands-free cruise control lets you set your car to maintain a certain speed and keep a safe distance from the car in front of you, so you don't have to keep pressing the gas pedal or brake all the time.
Hands-free cruise control is an advanced driver-assistance system that allows the vehicle to maintain speed and distance from other vehicles without constant driver input. It enhances comfort during long drives by reducing the need for manual speed adjustments.
traffic assist
"We bring hands-free crews and traffic assist. So, you know, on those long commutes on the highway..."
Traffic assist helps your car automatically slow down and speed up in traffic, making it easier to drive in busy areas without having to constantly use the brakes and gas pedal.
Traffic assist is a feature in modern vehicles that helps the driver navigate through traffic by automatically adjusting the vehicle's speed and maintaining a safe distance from other vehicles. It can also assist with stopping and starting in traffic conditions.
lane keeping assist
"Keep you in the center of your lane at a safe distance relative to vehicles."
Lane keeping assist helps your car stay in the middle of the lane by gently steering it if you start to drift out of it, making driving safer.
Lane keeping assist is a safety feature that helps prevent unintentional lane departures by providing steering assistance to keep the vehicle centered in its lane. It enhances driver safety on highways and busy roads.
level two plus driver assistance
"This is level two plus driver assistance, not autonomy. It's an important differentiation."
This term describes a type of technology in cars that helps the driver by controlling some functions like steering and speed, but the driver still needs to pay attention and be ready to take over at any time.
Level two plus driver assistance refers to a semi-autonomous driving system that can control both steering and acceleration/deceleration, but still requires the driver to remain engaged and monitor the environment. It is an enhancement over basic driver assistance features, providing more convenience and safety.
SafeRide unit
"every car that has a SafeRide unit in it"
This is a device that can be added to cars to help keep track of how the car is doing and make sure it's safe to drive.
A SafeRide unit is a device installed in vehicles that provides various safety and assistance features, often including connectivity for monitoring vehicle health and performance. It can help in predictive maintenance and enhance overall vehicle safety.
CANBUS system
"...because we connect directly into the CANBUS system, as soon as it's connected to a vehicle, we can see all of the outstanding codes on the car."
The CANBUS system is like a network in your car that helps different parts talk to each other. It helps mechanics check what's wrong with the car by showing error codes.
The CANBUS system is a vehicle bus standard that allows various microcontrollers and devices to communicate with each other without a host computer. It is essential for diagnostics and monitoring vehicle systems.
Toyota Corolla
"... lot, you know, they say, oh, I'm here for a 2022 Corolla. And, you know, immediately you can say,"
The Toyota Corolla is a small car that many people buy because it's easy to drive and doesn't use much gas. It's a good choice for anyone looking for a car that will last a long time without causing too many problems.
The Toyota Corolla is a compact car known for its reliability, fuel efficiency, and affordability. It has been one of the best-selling cars globally for decades, making it a popular choice for first-time car buyers and those seeking a dependable daily driver.
OBD dongle
"...oh, send me your OBD dongle to this whole thing. So drivers will get a discount on their insurance..."
An OBD dongle is a small device that plugs into your car to check how well it's running. It helps you understand any problems and can even help lower your insurance costs.
An OBD dongle is a device that connects to a vehicle's On-Board Diagnostics (OBD) port to read diagnostic information and monitor vehicle performance. It can provide valuable data for both the driver and insurance companies.
autonomous braking
"...and it is applying the brakes to bring the vehicle to a stop at that red light."
Autonomous braking means the car can stop itself if it sees something in front of it, like a red light, without you having to do anything.
Autonomous braking is a safety feature in modern vehicles that automatically applies the brakes when a potential collision is detected, helping to prevent accidents.
lane centering
"Oh, exactly. Like lane centering. Unfortunately, there's so many trade terms for these things."
Lane centering is a feature that helps keep your car in the center of the lane while driving. It can automatically steer the car to stay in the lane, making driving easier.
Lane centering is a more advanced version of lane correction that actively steers the vehicle to keep it centered in its lane, often used in conjunction with adaptive cruise control systems.
Honda Civic
"if you're trying to sell like a 2008 Honda Civic, it's a little bit less of a thing."
The Honda Civic is a small car that is popular for being reliable and good on gas. The 2008 model is one of the versions people often talk about.
The Honda Civic is a compact car known for its reliability and fuel efficiency. The 2008 model is part of the eighth generation, which is appreciated for its performance and practicality.
OEM ports
"So super, super smart that you have OEM ports so that you're not dealing with general ports that would create a little bit of a challenge."
OEM ports are special connections made by the original car manufacturer that fit perfectly with their vehicles, making it easier to connect parts.
OEM ports refer to Original Equipment Manufacturer ports, which are designed to fit specific vehicle models and ensure compatibility with the vehicle's systems.
connected car technology
"...super fascinating conversation on this connected car technology and this ability to take a regular vehicle,..."
Connected car technology means cars can connect to the internet and talk to other devices. This helps improve safety and makes driving easier with better navigation and entertainment options.
Connected car technology refers to the integration of internet connectivity into vehicles, allowing them to communicate with other devices and systems. This technology enhances safety, navigation, and entertainment features, making driving more efficient and enjoyable.
used piece of inventory
"...to take a regular vehicle, a used piece of inventory,..."
A 'used piece of inventory' means a car that has been owned before and is now for sale again. These cars usually cost less than brand new ones.
In automotive terms, a 'used piece of inventory' refers to pre-owned vehicles that dealerships or companies have available for sale. These vehicles can vary in condition and age but are typically sold at a lower price than new cars.
semi-autonomous driving
"And then the next thing is that semi-autonomous driving. You know, that lane keeper, that automatic braking starts to stop."
Semi-autonomous driving means the car can help you drive, like keeping you in your lane or stopping automatically, but you still need to pay attention and take control when needed.
Semi-autonomous driving refers to vehicle systems that can assist with driving tasks, such as lane keeping and automatic braking, but still require human oversight and intervention.
lane keeper
"You know, that lane keeper, that automatic braking starts to stop."
A lane keeper is a system in some cars that helps you stay in your lane while driving. It can gently steer the car back if you start to drift out.
A lane keeper is a safety feature in modern vehicles that helps the driver stay within their lane by providing steering assistance or alerts when the vehicle drifts out of its lane.
automatic braking
"that automatic braking starts to stop. I think it's like that."
Automatic braking is a feature in some cars that can stop the car on its own if it senses that a crash is about to happen.
Automatic braking is a safety feature that detects potential collisions and automatically applies the brakes to prevent or mitigate an accident.
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