Riley on Ford Recalls, Aviloo CEO on Used EV Market, Mathis on Curbing Turnover | Daily Dealer Live
About this episode
The episode covers a range of automotive industry topics, including Ford recalls, Amazon Auto's new lending partnerships, and insights from Kelsey Riley of Lascaux Auto Group on dealership operations. Riley discusses the importance of team dynamics and communication in achieving sales growth. Wolfgang Berger, CEO of Aviloo, highlights the challenges and solutions in the used EV market, particularly regarding battery health assessments. Finally, Fabiola Mathis from Principal Auto Group shares best practices for onboarding and training staff to enhance dealership culture and performance.
Amazon Auto
"First up today, Amazon Auto, the e-commerce giant's online car buying platform has announced new lending partnerships with Chase, Santander and Wells Fargo."
Amazon Auto is a service from Amazon that helps people buy cars online. It makes it easier to find and finance a vehicle without going to a dealership in person.
Amazon Auto is an online car buying platform launched by Amazon, allowing customers to purchase vehicles through its digital storefront. It aims to simplify the car buying process by integrating financing options and dealership partnerships.
used and certified pre-owned vehicles
"For now, the partnerships extend to used and certified pre-owned vehicles only, but Amazon Auto's does plan to expand these offerings to new car sales quote in the coming months."
Used vehicles are cars that someone else has owned before you. Certified pre-owned vehicles are used cars that have been checked and approved by the dealer, so they are generally in better condition and may come with a warranty.
Used vehicles are cars that have had previous owners, while certified pre-owned (CPO) vehicles are used cars that have been inspected and certified by the manufacturer or dealer, often coming with warranties. This distinction is important for buyers looking for reliability and value.
credit applications
"Like other digital retailing platforms, customers can submit their credit applications online and compare loan offers side by side before completing paperwork online and picking up their vehicle from a participating dealership."
A credit application is a form you fill out when you want to borrow money to buy a car. It helps the bank decide if they can trust you to pay them back.
A credit application is a formal request for credit, usually involving a loan for purchasing a vehicle. It allows lenders to assess the borrower's creditworthiness before approving a loan.
loan offers
"...and compare loan offers side by side before completing paperwork online and picking up their vehicle from a participating dealership."
Loan offers are deals from banks or lenders that show how much money they will lend you to buy a car and what the costs will be. You can look at different offers to find the best one for you.
Loan offers are proposals from lenders outlining the terms of a loan, including the interest rate, repayment period, and total amount borrowed. Customers can compare these offers to find the best financing option for their vehicle purchase.
Ford Super Duty
"Every Super Duty Ford sells is built in Kentucky and Ohio."
The Ford Super Duty is a type of heavy truck made by Ford that can carry heavy loads and tow trailers. It's built for tough jobs.
The Ford Super Duty is a line of heavy-duty trucks designed for towing and hauling. They are known for their durability and capability, making them popular for both commercial and personal use.
Ram 3500
"...Stellanus builds its Ram 2500 and 3500 trucks in Mexico."
The Ram 3500 is a very strong pickup truck made by Ram that can carry even more weight than the Ram 2500, making it ideal for heavy-duty tasks.
The Ram 3500 is a heavy-duty pickup truck that offers even greater towing and payload capabilities than the Ram 2500. It is designed for serious work and heavy hauling.
Ram 2500
"...Stellanus builds its Ram 2500 and 3500 trucks in Mexico."
The Ram 2500 is a tough pickup truck made by Ram that can handle heavy loads and is great for work or outdoor activities.
The Ram 2500 is a heavy-duty pickup truck known for its strong towing capacity and rugged design. It is often used for both work and recreational purposes.
OEM
"...both of those OEMs could face higher costs if those regions aren't exempt..."
OEM means Original Equipment Manufacturer. It's a term used for companies that make parts or cars that are sold by other brands.
OEM stands for Original Equipment Manufacturer, which refers to companies that produce parts or vehicles that are sold under another company's brand. In the automotive context, it often refers to car manufacturers.
Maserati
"You see a Maserati off to this side."
Maserati is a brand that makes fancy and fast cars from Italy. They are known for their stylish looks and strong performance.
Maserati is an Italian luxury vehicle manufacturer known for its high-performance sports cars and sedans, often characterized by their distinctive design and powerful engines.
Mitsubishi
"And then we have a Mitsubishi store in Grand Blank."
Mitsubishi is a car company from Japan that makes various types of vehicles, including SUVs and sedans.
Mitsubishi is a Japanese automotive manufacturer known for producing vehicles like the Outlander and Eclipse.
Jeep Recons
"work or whatever the yesterday brought is a fresh mindset. Use cars, acquisitions, making sure we've got enough cars in the pipeline coming in and that recon's going smoothly and that we can get things, you know, our time deline's down and we can get things on the lot fast for our turns."
The Jeep Recon is a new electric SUV made by Jeep, which is known for its tough, off-road vehicles. This car is special because it combines being eco-friendly with the ability to handle rough terrains, making it a great choice for outdoor lovers.
The Jeep Recon is an all-electric SUV designed for off-road enthusiasts, showcasing Jeep's commitment to sustainability while maintaining its rugged heritage. It offers advanced technology and features tailored for adventure, making it a significant addition to Jeep's lineup as the automotive industry shifts towards electrification.
Ford F150
"...a Ford F-150. What was the battery replacement on that Ford F-150? 74,000."
The Ford F-150 is a well-known truck that many people use for work and everyday tasks. It's built to be tough and reliable.
The Ford F-150 is a popular full-size pickup truck known for its durability and versatility. It's often used for both work and personal purposes, making it a common choice among consumers.
battery replacement
"...the most expensive component of an EV. Yuli, we talked about this. A Ford F-150. What was the battery replacement on that Ford F-150? 74,000."
Battery replacement means getting a new battery for an electric car. This can be very expensive, so it's important to know how much it costs before buying a used electric car.
Battery replacement refers to the process of replacing the battery in an electric vehicle (EV), which can be a significant expense due to the cost of EV batteries. Understanding this cost is crucial for potential buyers of used EVs.
used EV market
"...business is great for us. The used market for EVs is..."
The used EV market is where people buy and sell second-hand electric cars. It's becoming more popular, but buyers need to be careful about things like the battery's condition.
The used EV market refers to the buying and selling of pre-owned electric vehicles. This market is growing as more consumers look to purchase electric cars, but it comes with unique challenges, such as assessing battery health and replacement costs.
battery testing system
"...with the help of our battery testing system. That's very cool. Very cool. So, is there, you know, you've got a battery test that will give the consumer and will give car dealers a picture of the battery..."
A battery testing system checks how well an electric vehicle's battery is working. It helps buyers and sellers know if the battery is in good shape or needs replacement.
A battery testing system evaluates the health and performance of electric vehicle batteries, providing insights into their capacity, efficiency, and overall condition. This information is crucial for both consumers and dealerships to understand the value and reliability of used electric vehicles.
Volkswagen Id4
"...a live demo. Holy cow. This is a daily dealer live industry first. Yeah, live demo. Very cool. That's a Volkswagen ID.4 full electric. And in the center of our system is the Avila box..."
The Volkswagen ID.4 is a fully electric SUV made by Volkswagen. It's designed to be eco-friendly and has a lot of modern features for drivers.
The Volkswagen ID.4 is an all-electric SUV that represents Volkswagen's entry into the electric vehicle market. It offers a spacious interior, advanced technology, and a range of electric driving capabilities.
OBD port
"it connects to the so-called OBD port of the vehicle. And really everything you have to do is switch on the vehicle, make sure it's on, and then connect the box to the OBD port."
The OBD port is a plug-in point in cars where you can connect tools to check how the car is running. It helps mechanics find problems and understand the car's health.
The OBD (On-Board Diagnostics) port is a standardized connection point in vehicles that allows external devices to communicate with the vehicle's computer systems. It is primarily used for diagnostics and monitoring of vehicle performance and emissions.
state of health
"what is ultimately telling you how good is that battery working. And that result is then handed out to a customer in the form of a battery certificate. You see the state of health. Again, that's a number in percentage."
State of health tells you how well a battery is working compared to when it was new. It's shown as a percentage, so if it's at 97%, it means the battery is still in good shape but has lost a little bit of its power.
State of health (SoH) is a measure of the current condition of a battery compared to its ideal or original state. It is expressed as a percentage and indicates how much capacity the battery has lost over time due to usage and aging.
EV battery
"...the battery is tremendously expensive. It's easily 50% of the whole vehicle value. So you might want to check brake suspension and everything, but the money sits in the battery."
An EV battery is the part of an electric car that stores energy to make it run. It's important because it determines how far the car can go before needing a recharge.
An EV battery, or electric vehicle battery, is a rechargeable battery used to power electric vehicles. It stores electrical energy and is crucial for the vehicle's range and performance.
battery pack
"...there could be a defect cell in the battery pack. And the weakest cell defines the whole battery pack."
A battery pack is like a group of batteries working together to power an electric car. If one battery in the group is weak, it can make the whole pack less effective.
A battery pack is a collection of multiple battery cells grouped together to provide a higher voltage and capacity for electric vehicles. The performance of the entire pack can be affected by the weakest cell.
EV
"...we help the car dealer to sell an EV with confidence..."
An EV, or electric vehicle, is a car that runs on electricity instead of gas. They are better for the environment and can save you money on fuel.
EV stands for electric vehicle, which is a type of car that is powered entirely by electricity instead of gasoline or diesel. EVs are known for being more environmentally friendly and often have lower operating costs.
state of charge
"...the difference between this report and the status report that shows up on the dashboard of the EV, like? Well, you're probably referring to the state of charge, which is shown on the dashboard..."
The state of charge tells you how much battery power your electric car has left, similar to how your phone shows its battery percentage. It helps you know when you need to recharge your car.
The state of charge (SoC) indicates the current charge level of an electric vehicle's battery, expressed as a percentage of its total capacity. It helps drivers understand how much energy is available before needing to recharge.
lithium-ion batteries
"...these batteries, these lithium-ion batteries, they get worse over time. They degrade, right? They cannot store energy as good anymore."
Lithium-ion batteries are the batteries used in many electric cars. They can hold a lot of energy, but they don't last forever and can lose their ability to hold a charge as they age.
Lithium-ion batteries are a type of rechargeable battery commonly used in electric vehicles (EVs) due to their high energy density and efficiency. However, they degrade over time, which affects their ability to store energy effectively.
BMW
"no matter if it's a BMW, a Ford, or any other brand. So it's that independent aspect that's really important."
BMW is a well-known car brand from Germany that makes luxury cars. They are famous for their sporty and high-quality vehicles.
BMW is a German automotive brand known for its luxury vehicles and performance-oriented cars. The brand has a strong reputation for engineering and driving dynamics, particularly in its sports sedans and SUVs.
EVs
"So as you think about all the different manufacturers, Tesla and everybody else that does EVs, is there a, is there a type of vehicle that's tougher for you to pull this diagnostic report..."
EVs stand for electric vehicles, which are cars that run on electricity instead of gas. They are better for the environment because they produce less pollution.
EVs, or electric vehicles, are cars that are powered entirely or partially by electricity instead of traditional gasoline or diesel fuel. They are becoming increasingly popular due to their environmental benefits.
battery repair
"...if we're talking about battery repairs. And we can identify that very cell that is causing the trouble."
Battery repair means fixing problems with the battery in an electric car. This can involve replacing parts of the battery that aren't working properly.
Battery repair refers to the process of diagnosing and fixing issues within an electric vehicle's battery system. This can include replacing defective cells or modules to restore the battery's performance.
Carfax buyback guarantee
"...thinking about like a car fax buyback guarantee or something similar? Yeah, that's a great question..."
The Carfax buyback guarantee is a way to protect car buyers. If a car has been in a serious accident and is considered a total loss, Carfax promises to buy it back from you at a certain price, so you don't lose money on a bad purchase.
A Carfax buyback guarantee is a promise from Carfax that if a vehicle is reported as a total loss, they will buy it back from the owner at a specified price. This guarantee helps buyers feel more secure about their purchase by ensuring that they are not buying a vehicle with a hidden history of severe damage.
battery certificate
"...the battery certificate is issued in real time. It's sent over to the car dealer as an email attachment or some larger customers are using our API to integrate it directly into a dealer management system."
A battery certificate is like a report card for a car's battery, showing how well it's working. It's important for electric cars to make sure the battery is in good shape before you buy it.
A battery certificate is a document that verifies the condition and performance of a vehicle's battery, particularly important for electric vehicles (EVs). It provides assurance to potential buyers about the battery's health and reliability.
EV rebates
"...So EV rebates are over. I'm going to ask is your last question to pontificate a little bit on what the future of EV looks like here in the United States."
EV rebates are discounts or money back from the government when you buy an electric car. They help lower the price and make it easier for people to buy these cars.
EV rebates are financial incentives provided by governments to encourage the purchase of electric vehicles. These rebates can significantly reduce the overall cost of buying an EV, making them more accessible to consumers.
battery performance test
"...I run the test. The battery performance test says it's not good. What do I do with that car?"
A battery performance test checks how well the battery in an electric car is working. It helps you know if the battery is still good or if it needs to be replaced.
A battery performance test evaluates the health and efficiency of an electric vehicle's battery. It measures parameters like capacity, charge cycles, and overall performance to determine if the battery is functioning optimally.
combustion engines
"...I also love combustion engines. Yeah. Well, Wolfgang Berger, founder of Avalu..."
Combustion engines are engines that work by burning fuel, like gas or diesel, to make the car go. They are what most cars used to have before electric cars became popular.
Combustion engines are types of engines that generate power through the burning of fuel, typically gasoline or diesel. They are the traditional engine type found in most vehicles before the rise of electric vehicles.
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