{"version":"1.1.0","producer":"fm.getcarcurious","layer":"official","episode":{"title":"The Secret Plan to Create America's Next Dealer Owners (& What Comes Next) | Perry Watson IV, President of NAMAD","url":"http://getcarcurious.com/episodes/the-secret-plan-to-create-america-s-next-dealer-owners-what-comes-next-perry-watson-iv-president-of-namad","audioUrl":"https://chrt.fm/track/C6AG88/traffic.megaphone.fm/CREUR2428945066.mp3","description":"Today I'm joined by Perry Watson IV, President of NAMAD. \n\nDealership consolidation is accelerating, and the price of entry to ownership has never been higher. \n\nPerry breaks down the numbers behind it, including how over 40 percent of new vehicle sales at some brands now come from minority consumers, and why one manufacturer doubled a dealer's sales volume within two years just by getting ownership representation right. \n\n\n\nTopics:\n\n01:25 Consolidation's Hidden Downside.\n\n02:00 The Academy Training Next-Gen Dealers.\n\n04:10 No Straight Path To Ownership.\n\n04:50 The Business Case For Minority Dealers.\n\n10:00 The Conference Where Deals Get Done.\n\n14:45 The Mentor Who Sold To His Employee.\n\n16:25 How Erica Tiffany Became A Dealer.\n\n25:50 The Secret Fund NAMAD Is Building.\n\n\n\nThis episode is brought to you by:\n\n\n\n1.  Podium - the AI platform trusted by one in three dealerships. If your AI isn’t driving real outcomes, it’s time to take a closer look @ here.\n\n\n\n2.  Openlane - The world’s best online dealer marketplace for used cars, bringing you exclusive inventory, simple transactions, and better outcomes. 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The host uses the term to connect demographic shifts to dealership performance and brand loyalty.","simplifiedExplanation":"“Minority consumers” means car buyers from groups that are underrepresented in the overall population. The point here is that these buyers are a major and growing part of new-car sales.","sourceStartTime":293.6,"sourceEndTime":418.1}},{"id":467982,"startTime":299.3,"endTime":304.0,"type":"concept","title":"market share","url":"/glossary/market-share","quote":"So these emerging markets, I mean, as you know, there's a fight for market share across\n[304.0s] the country and with the uptick of Chinese automakers in Europe, in Australia, it's driving.","canonicalId":"concept:market-share","priority":0.6,"confidence":0.9,"source":"gpt-5.4-nano","data":{"explanation":"“Market share” is the portion of total sales in a market that a company or brand captures. The host uses it to describe how automakers compete for a larger slice of new-vehicle buyers in the U.S. and abroad.","simplifiedExplanation":"“Market share” means how much of the car-buying business a brand gets compared to other brands. If market share goes up, that brand is selling a bigger share of the cars.","sourceStartTime":299.3,"sourceEndTime":304.0}},{"id":467983,"startTime":299.3,"endTime":304.0,"type":"concept","title":"emerging markets","url":"/glossary/emerging-markets","quote":"So these emerging markets, I mean, as you know, there's a fight for market share across\n[304.0s] the country and with the uptick of Chinese automakers in Europe, in Australia, it's driving.","canonicalId":"concept:emerging-markets","priority":0.55,"confidence":0.86,"source":"gpt-5.4-nano","data":{"explanation":"In this context, “emerging markets” means regions or customer segments where vehicle demand is growing and automakers are trying to win new buyers. The host ties it to minority consumer growth and the competitive push for market share.","simplifiedExplanation":"“Emerging markets” here means places or groups where more people are starting to buy new cars. Automakers are competing hard to attract those buyers.","sourceStartTime":299.3,"sourceEndTime":304.0}},{"id":467984,"startTime":320.3,"endTime":327.5,"type":"concept","title":"OEMs","url":"/glossary/oem","quote":"So the business case for the OEMs is, hey, you go into these markets and you want dealers\n[327.5s] that perform at a high level, right?","canonicalId":"concept:oems","priority":0.35,"confidence":0.9,"source":"gpt-5.4-nano","data":{"explanation":"“OEMs” stands for original equipment manufacturers—companies that build the vehicles. In the segment, OEMs are described as seeking dealers that can sell, service, and support customers effectively in targeted markets.","simplifiedExplanation":"“OEMs” means the carmakers themselves—the companies that manufacture the vehicles. They depend on dealerships to sell and service cars in different communities.","sourceStartTime":320.3,"sourceEndTime":327.5}},{"id":467985,"startTime":330.2,"endTime":336.7,"type":"concept","title":"customer satisfaction","url":"/glossary/customer-satisfaction","quote":"They sell cars, they service cars, they move parts, they deliver great customer satisfaction.\n[336.7s] But our dealers and our members, we have a special ingredient and that is we don't just","canonicalId":"concept:customer-satisfaction","priority":0.4,"confidence":0.78,"source":"gpt-5.4-nano","data":{"explanation":"“Customer satisfaction” is a measure of how pleased customers are with their buying and service experience. The host lists it as part of what high-performing dealers deliver for OEMs (original equipment manufacturers).","simplifiedExplanation":"“Customer satisfaction” means how happy customers are with how they were treated and how their car-buying or service went. The host says top dealers aim to deliver high satisfaction.","sourceStartTime":330.2,"sourceEndTime":336.7}},{"id":467986,"startTime":383.0,"endTime":394.1,"type":"concept","title":"brand loyalty","url":"/glossary/brand-loyalty","quote":"Because when we walk in as minority consumers and we see people that are reflected in our\n[388.7s] staff, but especially at an ownership level, the level of engagement and the level of loyalty,\n[394.1s] brand loyalty, is at a whole different level.","canonicalId":"concept:brand-loyalty","priority":0.45,"confidence":0.84,"source":"gpt-5.4-nano","data":{"explanation":"“Brand loyalty” is when customers repeatedly choose the same brand over time and are more likely to recommend or stay with it. The host claims that representation and engagement at dealerships can increase loyalty among emerging-market buyers.","simplifiedExplanation":"“Brand loyalty” means people keep buying the same brand instead of switching. The host is saying dealership engagement and representation can make customers more likely to stick with a brand.","sourceStartTime":383.0,"sourceEndTime":394.1}},{"id":467987,"startTime":409.6,"endTime":418.1,"type":"concept","title":"dealer network","url":"/glossary/dealer-network","quote":"They're brands right now where over 40% of their new vehicle sales, both luxury and\n[415.9s] non-luxury are coming from minority consumers.\n[418.1s] And a big part of that has to do with their dealer network.","canonicalId":"concept:dealer-network","priority":0.65,"confidence":0.88,"source":"gpt-5.4-nano","data":{"explanation":"A “dealer network” is the set of dealerships a brand uses to sell and support vehicles. The host argues that the structure and reach of that network strongly influences how much of a brand’s sales come from minority consumers.","simplifiedExplanation":"A “dealer network” is the group of car dealerships a brand relies on to sell cars and help customers. The host says how that network is set up can affect which customers buy the cars.","sourceStartTime":409.6,"sourceEndTime":418.1}},{"id":467988,"startTime":420.9,"endTime":511.7,"type":"term","title":"dealer owners","quote":"So long story short, and I know that most floor plans do require PG's, but again, just different versus profiles. Assuming that is a really big hurdle, typically, with an ownership, like, what","canonicalId":"term:dealer-owners","priority":0.3,"confidence":0.55,"source":"gpt-5.4-nano","data":{"explanation":"“Dealer owners” refers to individuals or groups that own and operate a franchised dealership, typically under an OEM’s authorization. Ownership affects access to capital, approval pathways, and the ability to meet inventory/financing requirements.","simplifiedExplanation":"Dealer owners are the people who own the car dealership business and run it. Their ownership status can affect how easily they can get financing and approval to sell cars.","sourceStartTime":420.9,"sourceEndTime":511.7}},{"id":467989,"startTime":468.0,"endTime":507.7,"type":"term","title":"floor plan","url":"/glossary/floor-plan","quote":"I want to say, if I'm not mistaken, that I had noted here floor plan. I've personally done many floor plans in my life.","canonicalId":"term:floor-plan","priority":0.55,"confidence":0.9,"source":"gpt-5.4-nano","data":{"explanation":"A floor plan is a type of financing that helps a dealership pay for inventory (cars) before they’re sold. The lender typically pays the manufacturer/wholesaler, and the dealer repays the loan as each vehicle is sold.","simplifiedExplanation":"A floor plan is a loan a car dealer uses to buy cars to put on the lot. The dealer pays it back as the cars get sold.","sourceStartTime":468.0,"sourceEndTime":507.7}},{"id":467990,"startTime":481.7,"endTime":486.4,"type":"term","title":"personal guarantee","url":"/glossary/personal-guarantee","quote":"I had to like personal guarantee my life away. I don't recommend you do that.","canonicalId":"term:personal-guarantee","priority":0.45,"confidence":0.9,"source":"gpt-5.4-nano","data":{"explanation":"A personal guarantee (PG) is when an individual agrees to be personally responsible for repaying a business loan if the business can’t. In dealership floor-plan financing, this can mean the dealer owner’s personal assets are on the line.","simplifiedExplanation":"A personal guarantee means the owner is agreeing to cover the loan personally if the dealership can’t pay it back. It’s a big risk because it can put personal assets at stake.","sourceStartTime":481.7,"sourceEndTime":486.4}},{"id":467991,"startTime":1266.5,"endTime":1271.6,"type":"term","title":"FTC pricing","url":"/glossary/ftc-pricing","quote":"for instance, this FTC pricing, right, with all of the activity that's going on.","canonicalId":"term:ftc-pricing","priority":0.45,"confidence":0.75,"source":"gpt-5.4-nano","data":{"explanation":"“FTC pricing” refers to pricing practices that fall under the U.S. Federal Trade Commission’s oversight. In a dealership context, it usually means rules about how prices are advertised and whether pricing tactics could be considered deceptive or unfair.","simplifiedExplanation":"This is about pricing rules enforced by the FTC, the U.S. consumer-protection agency. It matters to dealers because it can affect how you advertise prices and whether certain pricing tactics could get you in trouble.","sourceStartTime":1266.5,"sourceEndTime":1271.6}},{"id":467992,"startTime":1277.0,"endTime":1282.1,"type":"term","title":"EVs","url":"/glossary/ev","quote":"whether it's EVs, you know, how do you balance making the investment versus, you know, the the current demand of the customer.","canonicalId":"term:evs","priority":0.35,"confidence":0.9,"source":"gpt-5.4-nano","data":{"explanation":"EVs are electric vehicles, meaning cars powered primarily by electric motors and rechargeable batteries. For dealers, EVs change inventory planning and customer education because demand and charging considerations differ from gas cars.","simplifiedExplanation":"EVs are electric cars that run on electricity stored in a battery. Dealers have to think differently about what to stock and how to explain the benefits and tradeoffs to buyers.","sourceStartTime":1277.0,"sourceEndTime":1282.1}},{"id":467993,"startTime":1325.8,"endTime":1334.9,"type":"concept","title":"peer group","quote":"that education, of course, the peer group around it. Oh, yes. It's just it's immense the the network that you build when you're around the right people in the right networks.","canonicalId":"concept:peer-group","priority":0.3,"confidence":0.6,"source":"gpt-5.4-nano","data":{"explanation":"A peer group is a set of similar professionals who share knowledge and best practices. In dealership organizations, peer groups are used to spread “how to handle the market” education and to build relationships that can accelerate learning and decision-making.","sourceStartTime":1325.8,"sourceEndTime":1334.9}}],"speakers":[{"id":"s1","name":"Yossi Levi","role":"host"}],"transcripts":[{"url":"http://getcarcurious.com/episodes/the-secret-plan-to-create-america-s-next-dealer-owners-what-comes-next-perry-watson-iv-president-of-namad/transcript.vtt","type":"text/vtt"}],"alignmentMode":"scalar","fallbackOffset":0.0}