{"version":"1.0.0","episode":{"title":"\"The Lost Generation of CapEx\" – How Dealers Can Win in a Commoditized Car Market | Michael Maroone, Chairman and CEO of Maroone USA.","url":"http://getcarcurious.com/episodes/the-lost-generation-of-capex-how-dealers-can-win-in-a-commoditized-car-market-michael-maroone-chairman-and-ceo-of-maroone-usa","audioUrl":"https://chrt.fm/track/C6AG88/traffic.megaphone.fm/CREUR5895213004.mp3","description":"Today I'm joined by Michael Maroone, Chairman and CEO of Maroone USA. \n\nMichael breaks down why new cars are becoming commodities, where profit has actually migrated, and why culture, curiosity, and operational freedom matter more than pay plans.\n\n\n\nThis episode is brought to you by:\n\n\n\n1. Podium  - 78% of customers buy from the first business that responds, yet most businesses reply an hour or more late. \n\n\n\nJerry 2.0 is the only fully customizable AI Employee. Jerry learns your playbooks, understands your inventory, schedules appointments, books test drives, handles trade-ins, books consultations, sends promotions, requests reviews, and learns from your feedback—within minutes, day or night. \n\n\n\nBusinesses now let Podium’s AI Employees handle 40% of their inbound leads, giving teams more time for their customers—and more time home for dinner.  Learn what Jerry can do for you @ here!\n\n\n\n2.  Carfax - Drive long-term customer loyalty with CARFAX. Visit @ https://www.carfax.com/ to learn more.\n\n\n\n3. Nomad Content Studio - Most dealers still fumble social—posting dry inventory pics or handing it off without a plan. Meanwhile, the store down the street is racking up millions of views and selling / buying cars using video. That’s where Nomad Content Studio comes in. We train your own videographer, direct what to shoot, and handle strategy, to posting, to feedback. Want in with the team behind George Saliba, EV Auto, and top auto groups? Book a call @ http://www.trynomad.co \n\n\n\nCheck out Car Dealership Guy’s stuff:\n\n\nFor dealers:\n\nCDG Circles ➤ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://cdgcircles.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠\n\nIndustry job board ➤ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠http://jobs.dealershipguy.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠\n\nDealership recruiting ➤ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠http://www.cdgrecruiting.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠\n\nFix your dealership’s social media ➤ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠http://www.trynomad.co⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠\n\nRequest to be a podcast guest ➤ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠http://www.cdgguest.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠\n\n\n\nFor industry vendors:\n\nAdvertise with Car Dealership Guy ➤ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠http://www.cdgpartner.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠\n\nIndustry job board ➤ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠http://jobs.dealershipguy.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠\n\nRequest to be a podcast guest ➤ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠http://www.cdgguest.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠\n\n\n\nTopics:\n\n06:10 Instead of GMs, use equity-owning \"President Partners.\"\n\n06:45 Use a \"Freedom Frame\" for flexible governance.\n\n08:00 High goodwill stores make partner buy-ins impossible.\n\n19:55 Never use compensation to run your business.\n\n21:10 Ask 20 questions in every elevator ride.\n\n24:15 New car product has been totally commoditized.\n\n26:15 We are facing a lost generation of CapEx.\n\n32:15 Measure \"Super PVR\" to see total deal economics.\n\n39:45 Reject framework agreements; they only hinder growth.\n\n\n\nCar Dealership Guy Socials:\n\nX ➤ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠x.com/GuyDealership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠\n\nInstagram ➤ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠instagram.com/cardealershipguy/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠\n\nTikTok ➤ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠tiktok.com/@guydealership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠\n\nLinkedIn ➤ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠linkedin.com/company/cardealershipguy⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠\n\nThreads ➤ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠threads.net/@cardealershipguy⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠\n\nFacebook ➤ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠facebook.com/profile.php?id=100077402857683⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠\n\nEverything else ➤ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠dealershipguy.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠"},"annotations":[{"startTime":70.6,"endTime":74.1,"type":"concept","title":"new vehicle margins","url":"/glossary/new-vehicle-margins","quote":"The former president and COO of Auto Nation drops by to unpack why new vehicle margins are disappearing, how dealers should rethink profit","canonicalId":"concept:new-vehicle-margins","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"New vehicle margins refer to the profit dealers make on the sale of brand-new cars. These margins have been shrinking due to increased competition, manufacturer pricing strategies, and market conditions.","simplifiedExplanation":"When car dealers sell new cars, they usually make some profit called a margin. Recently, this profit has been getting smaller because of how car prices and sales work."}},{"startTime":75.5,"endTime":77.8,"type":"concept","title":"total deal economics","url":"/glossary/total-deal-economics","quote":"how dealers should rethink profit through pre-owned and total deal economics, and what really separates public scale operators","canonicalId":"concept:total-deal-economics","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Total deal economics refers to the overall profitability of a vehicle sale, including new and used car sales, financing, add-ons, and service contracts. Dealers analyze this to maximize their profits beyond just the sticker price.","simplifiedExplanation":"When a dealer sells a car, they make money not just from the car price but also from things like loans, extra products, and services. Total deal economics means looking at all these parts together to see how much money they make."}},{"startTime":77.8,"endTime":80.2,"type":"concept","title":"public scale operators","url":"/glossary/public-scale-operators","quote":"and what really separates public scale operators from nimble private groups.","canonicalId":"concept:public-scale-operators","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Public scale operators are large dealership groups that are publicly traded companies. They often have different strategies and resources compared to smaller, privately owned dealer groups.","simplifiedExplanation":"Some car dealers are big companies that sell shares to the public. These big groups run many dealerships and work differently than smaller, private dealers."}},{"startTime":77.8,"endTime":80.2,"type":"concept","title":"nimble private groups","url":"/glossary/nimble-private-groups","quote":"and what really separates public scale operators from nimble private groups.","canonicalId":"concept:nimble-private-groups","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Nimble private groups are smaller, privately owned dealership groups that can adapt quickly to market changes compared to larger public operators.","simplifiedExplanation":"Smaller car dealers that are privately owned can change their plans quickly when things in the market change. They are called nimble private groups."}},{"startTime":241.4,"endTime":244.6,"type":"term","title":"non-compete","url":"/glossary/non-compete","quote":"Out of automotive, I set out a non-compete of a year. I happened to have been the enforcer of non-competes in my prior employer.","canonicalId":"term:non-compete","priority":0.5,"confidence":1.0,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"A non-compete is a legal agreement that restricts an individual from working in the same industry or with competitors for a specified period after leaving a job.","simplifiedExplanation":"A non-compete is a rule that stops someone from working in the same kind of job or with rival companies for some time after they quit."}},{"startTime":793.5,"endTime":795.8,"type":"company","title":"CarMax","url":"/glossary/carmax","quote":"I was part of the generation that watched CarMax and our particular group had Driver Smart,","canonicalId":"company:carmax","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"CarMax is a large used car retailer in the United States known for its no-haggle pricing and large inventory of used vehicles.","simplifiedExplanation":"CarMax is a big company that sells used cars with set prices, so you don't have to negotiate when buying a car."}},{"startTime":800.9,"endTime":803.2,"type":"company","title":"AutoNation","url":"/glossary/autonation","quote":"I was employee number two at AutoNation when they began to consolidate very rapidly.","canonicalId":"company:autonation","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"AutoNation is one of the largest automotive retailers in the United States, operating numerous new and used car dealerships across many brands.","simplifiedExplanation":"AutoNation is a big company that owns many car dealerships where you can buy new and used cars."}},{"startTime":811.5,"endTime":812.0,"type":"brand","title":"Tesla","url":"/glossary/tesla","quote":"I'm not afraid of Tesla.","canonicalId":"brand:tesla","priority":0.5,"confidence":1.0,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Tesla is an American electric vehicle and clean energy company known for its innovative electric cars and autonomous driving technology.","simplifiedExplanation":"Tesla makes electric cars that don't use gas and have cool features like self-driving. They are very popular and different from regular cars."}},{"startTime":812.2,"endTime":812.7,"type":"company","title":"Carvana","url":"/glossary/carvana","quote":"I'm not afraid of Ruby and I'm not afraid of Carvana.","canonicalId":"company:carvana","priority":0.5,"confidence":1.0,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Carvana is an online used car retailer that allows customers to buy, finance, and trade in cars entirely online, with home delivery options.","simplifiedExplanation":"Carvana is a website where you can buy used cars without going to a dealership. They deliver the car to your home."}},{"startTime":847.1,"endTime":847.7,"type":"term","title":"OEM","url":"/glossary/oem","quote":"\"Will they be a joint venture with an existing OEM? Will they build factories here? Yeah, I think they will.\"","canonicalId":"term:oem","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"OEM stands for Original Equipment Manufacturer, referring to companies that produce parts or vehicles that are sold under another brand or in partnership with other manufacturers.","simplifiedExplanation":"OEM means the company that originally makes the car or parts. Sometimes, car companies work together or share parts."}},{"startTime":931.8,"endTime":951.7,"type":"concept","title":"dealership model","url":"/glossary/dealership-model","quote":"You own eight dealerships. You are very well invested in dealerships. So to me, that says that, you know, follow the money. If you have dealerships, you clearly believe in the future of the dealership model, or else you would have divested out of these dealerships. What do you think is just the future of the dealership model? I don't think it's gotta be one way or another.","canonicalId":"concept:dealership-model","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"The dealership model refers to the traditional system where car manufacturers sell vehicles through independently owned or franchised dealerships rather than directly to consumers. This model involves dealerships handling sales, financing, and service for customers.","simplifiedExplanation":"The dealership model means that car companies sell their cars through special stores called dealerships instead of selling directly to buyers. These dealerships help people buy, finance, and fix their cars."}},{"startTime":977.4,"endTime":982.2,"type":"concept","title":"new vehicle dealership franchises","url":"/glossary/new-vehicle-dealership-franchises","quote":"but I do think the private cap model of new vehicle dealership franchises is still a very viable model.","canonicalId":"concept:new-vehicle-dealership-franchises","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"New vehicle dealership franchises are authorized businesses that sell new cars from specific manufacturers. They operate under agreements with automakers to represent their brand and handle sales, service, and warranty work.","simplifiedExplanation":"These are car dealerships that sell brand new cars from a particular car company. They have a special deal with the car maker to sell and fix their cars."}},{"startTime":996.1,"endTime":998.4,"type":"concept","title":"direct to consumer","url":"/glossary/direct-to-consumer","quote":"Any of these things, whether it be direct to consumer, online auto retailers,","canonicalId":"concept:direct-to-consumer","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Direct to consumer refers to selling products, like cars, directly from the manufacturer to the buyer without intermediaries such as dealerships. This model can disrupt traditional dealership sales.","simplifiedExplanation":"This means car makers sell cars straight to people without using car dealerships as middlemen."}},{"startTime":998.4,"endTime":999.47,"type":"concept","title":"online auto retailers","url":"/glossary/online-auto-retailers","quote":"Any of these things, whether it be direct to consumer, online auto retailers,","canonicalId":"concept:online-auto-retailers","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Online auto retailers are businesses that sell cars through internet platforms rather than physical dealerships. They often offer a more streamlined buying process and home delivery options.","simplifiedExplanation":"These are companies that let you buy cars on the internet instead of going to a car dealership in person."}},{"startTime":1421.4,"endTime":1424.8,"type":"concept","title":"new car business","url":"/glossary/new-car-business","quote":"Where do you think the new car just business is headed?","canonicalId":"concept:new-car-business","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"The new car business refers to the industry segment involved in the manufacturing, marketing, and selling of brand-new vehicles to consumers.","simplifiedExplanation":"The new car business means the part of the car world that deals with selling brand-new cars to people."}},{"startTime":1445.5,"endTime":1447.8,"type":"term","title":"new car market","url":"/glossary/new-car-market","quote":"So how do you feel about where the new car market's headed? I'm really concerned about it.","canonicalId":"term:new-car-market","priority":0.9,"confidence":1.0,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"The new car market refers to the industry and environment surrounding the sale and purchase of brand-new vehicles from manufacturers or dealerships.","simplifiedExplanation":"The new car market is where people buy cars that have never been owned or driven before, straight from the factory or dealer."}},{"startTime":1452.5,"endTime":1455.8,"type":"term","title":"commoditized","url":"/glossary/commoditized","quote":"But the new vehicle product's been totally commoditized. It's too easy to shop.","canonicalId":"term:commoditized","priority":0.5,"confidence":1.0,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Commoditized means that products have become very similar and interchangeable, often leading to price-based competition rather than differentiation by features or quality.","simplifiedExplanation":"Commoditized means that new cars are so similar and easy to compare that people mostly choose based on price, not special features."}},{"startTime":1472.9,"endTime":1476.0,"type":"term","title":"dealer fees","url":"/glossary/dealer-fees","quote":"\"So the money's being made in things like dealer fees, which are not necessarily value add.\"","canonicalId":"term:dealer-fees","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Dealer fees are additional charges added by car dealerships on top of the vehicle's price, often covering administrative costs, documentation, and other services. These fees can significantly increase the out-the-door price but may not always correspond to added value for the buyer.","simplifiedExplanation":"Dealer fees are extra costs that car dealers add when you buy a car. They cover things like paperwork and other services but can make the car cost more than the sticker price."}},{"startTime":1478.0,"endTime":1479.9,"type":"term","title":"F and I","url":"/glossary/f-and-i","quote":"\"It's made in F and I. It's made in parts and service and it's made in trades.\"","canonicalId":"term:f-and-i","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"F and I stands for Finance and Insurance, a department in car dealerships responsible for arranging financing, selling insurance products, and extended warranties. It is a major profit center for dealerships beyond the vehicle sale itself.","simplifiedExplanation":"F and I means Finance and Insurance. It's the part of the car dealership that helps you get a loan to buy the car and sells extra protections like warranties. This is where dealers often make a lot of their money."}},{"startTime":1479.9,"endTime":1482.5,"type":"term","title":"trades","url":"/glossary/trades","quote":"\"It's made in F and I. It's made in parts and service and it's made in trades.\"","canonicalId":"term:trades","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Trades refer to trade-in vehicles that customers offer as partial payment towards a new vehicle purchase. Dealers often profit by reselling these used cars.","simplifiedExplanation":"Trades are the cars you give to the dealer when you want to buy a new one. The dealer sells your old car to make money."}},{"startTime":1479.9,"endTime":1482.5,"type":"term","title":"parts and service","url":"/glossary/parts-and-service","quote":"\"It's made in F and I. It's made in parts and service and it's made in trades.\"","canonicalId":"term:parts-and-service","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Parts and service refer to the maintenance, repairs, and replacement components sold by dealerships and repair shops. This area often generates significant profit for dealerships compared to new car sales.","simplifiedExplanation":"Parts and service means the stuff you buy to fix or take care of your car, like new tires or oil changes. Dealers make a lot of money from this, sometimes more than from selling new cars."}},{"startTime":1500.5,"endTime":1502.1,"type":"term","title":"lost leader","url":"/glossary/lost-leader","quote":"\"We'll go back to break even deals on new car. That's the lost leader for the dealership to get you to become a service client.\"","canonicalId":"term:lost-leader","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"A lost leader is a product sold at a low price, often at break-even or a loss, to attract customers with the goal of making profits on other services or products.","simplifiedExplanation":"A lost leader is when a store sells something cheap or even at no profit to get you in the door, hoping you'll buy other things that make them money."}},{"startTime":1532.9,"endTime":1535.1,"type":"term","title":"new vehicle inventory","url":"/glossary/new-vehicle-inventory","quote":"\"You've got to turn that new vehicle inventory and make sure you're not on the wrong foot.\"","canonicalId":"term:new-vehicle-inventory","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"New vehicle inventory refers to the stock of new cars that dealerships have available for sale. Managing this inventory efficiently is crucial for dealerships to maintain profitability and meet customer demand.","simplifiedExplanation":"New vehicle inventory means the cars that a dealership has ready to sell to customers."}},{"startTime":1552.7,"endTime":1556.06,"type":"term","title":"catbacks","url":"/glossary/catbacks","quote":"I believe there's been a lost generation of catbacks and autos.","canonicalId":"term:catbacks","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Catback refers to an aftermarket exhaust system that replaces the piping from the catalytic converter back to the muffler and exhaust tip, often improving performance and sound.","simplifiedExplanation":"A catback is a type of car exhaust that starts after the catalytic converter and goes to the back of the car. People change it to make their car sound better or go faster."}},{"startTime":1590.0,"endTime":1591.0,"type":"concept","title":"commoditization","url":"/glossary/commoditization","quote":"So that the issue we have, and what's pushing the commoditization,","canonicalId":"concept:commoditization","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Commoditization in the automotive industry refers to the process where products become indistinguishable from each other, leading to competition mainly on price rather than features or innovation.","simplifiedExplanation":"Commoditization means cars are starting to feel very similar, so people choose mostly based on price, not special features."}},{"startTime":1620.9,"endTime":1623.5,"type":"term","title":"hybrid technology","url":"/glossary/hybrid-technology","quote":"Now we're putting hybrid technology back in cars. That's old school technology.","canonicalId":"term:hybrid-technology","priority":0.9,"confidence":1.0,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Hybrid technology combines an internal combustion engine with an electric motor to improve fuel efficiency and reduce emissions compared to traditional gasoline-only vehicles.","simplifiedExplanation":"Hybrid technology means a car uses both gas and electricity to help it go farther and save fuel."}},{"startTime":1627.7,"endTime":1631.4,"type":"term","title":"EV","url":"/glossary/ev","quote":"but it's not an EV, and it's certainly not where the future is going to be.","canonicalId":"term:ev","priority":0.9,"confidence":1.0,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"EV stands for electric vehicle, which runs entirely on electricity stored in batteries and produces zero tailpipe emissions.","simplifiedExplanation":"An EV is a car that runs only on electricity instead of gas, so it doesn't pollute the air when you drive it."}},{"startTime":1711.7,"endTime":1729.7,"type":"company","title":"Carfax","url":"/glossary/carfax","quote":"This episode is brought to you by Carfax. Here's a reality check. Carfax data shows that 43% of new car buyers won't return to the same dealership for service... But Carfax lifetime dealers don't just stop after the sale. They partner with Carfax to deliver co-branded, VIN-specific service reminders...","canonicalId":"company:carfax","priority":0.5,"confidence":1.0,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Carfax is a company that provides vehicle history reports and data to help buyers and dealers understand a car's past, including accidents, ownership, and service records.","simplifiedExplanation":"Carfax is a company that gives you reports about a car's history, like if it was in accidents or had repairs, so you can buy smarter."}},{"startTime":1879.1,"endTime":1881.9,"type":"term","title":"trade-in","url":"/glossary/trade-in","quote":"\"That's hard because that one new you sell, you might take 50% trades, 40% trades, 60% trades.\"","canonicalId":"term:trade-in","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"A trade-in is when a customer offers their current vehicle as partial payment toward the purchase of another vehicle, usually at a dealership. The value of the trade-in is deducted from the price of the new or used car being bought.","simplifiedExplanation":"When you want to buy a car, you can give your old car to the dealer to help pay for the new one. This is called a trade-in."}},{"startTime":1909.04,"endTime":1913.6,"type":"term","title":"used vehicle margins","url":"/glossary/used-vehicle-margins","quote":"So the used vehicle margins are softer. And if you look at all the publics, the used vehicle margins.","canonicalId":"term:used-vehicle-margins","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Used vehicle margins refer to the profit dealerships make on selling used cars, which tend to be lower per unit compared to new cars but can be supplemented by other fees and services.","simplifiedExplanation":"Used vehicle margins are the money a dealer earns when selling a used car. It’s usually less than selling a new car, but dealers can make extra money in other ways."}},{"startTime":1923.1,"endTime":1927.3,"type":"term","title":"reconditioning money","url":"/glossary/reconditioning-money","quote":"whether it's dealer fees, packs, reconditioning money. There's a lot.","canonicalId":"term:reconditioning-money","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Reconditioning money refers to the expenses dealerships spend to prepare used vehicles for sale, including cleaning, repairs, and maintenance.","simplifiedExplanation":"Reconditioning money is the cost a dealer spends to fix up a used car before selling it. This can include cleaning and small repairs."}},{"startTime":2143.1,"endTime":2148.4,"type":"concept","title":"process engineer","url":"/glossary/process-engineer","quote":"I said, it feels like the modern dealer is a process engineer within their dealership, more than ever. I mean, you're always a process engineer to your business,","canonicalId":"concept:process-engineer","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"A process engineer is someone who designs, analyzes, and improves business processes to increase efficiency and effectiveness, often applying systematic methods and technology.","simplifiedExplanation":"A process engineer is a person who figures out better ways to do things in a business so everything runs smoother and faster."}},{"startTime":2363.62,"endTime":2383.92,"type":"concept","title":"dealership framework agreements","url":"/glossary/dealership-framework-agreements","quote":"on dealership framework agreements? So I have a lot of experience in them. I signed a bunch of them in my last one. Did, an auto nation. An auto nation. The reason we had them then was so that you could look at a buyer with certainty, or a seller, excuse me, and say, if we reach a deal, I can get this deal closed","canonicalId":"concept:dealership-framework-agreements","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Dealership framework agreements are contracts between dealerships and manufacturers or other parties that outline terms and conditions for vehicle sales and operations. They help provide certainty and structure for buyers and sellers during transactions.","simplifiedExplanation":"A dealership framework agreement is like a rulebook that car dealers and manufacturers agree on to make sure buying and selling cars goes smoothly. It helps everyone know what to expect when they make a deal."}}],"speakers":[{"id":"s1","name":"Car Dealership Guy","role":"host"}],"transcripts":[{"url":"http://getcarcurious.com/episodes/the-lost-generation-of-capex-how-dealers-can-win-in-a-commoditized-car-market-michael-maroone-chairman-and-ceo-of-maroone-usa/transcript.vtt","type":"text/vtt"}]}