Toothman on Fleet Focus, Waishampayan on New Ad Tech, Lundy on Sales/BDC Split | Daily Dealer Live
About this episode
A dynamic discussion unfolds as Sam Darkin hosts industry leaders, including JR Toothman of Toothman Ford and Amal Waishampayan from Full Throttle AI. They delve into the evolving landscape of automotive retail, emphasizing the importance of social media, AI in advertising, and the need for transparency in dealership operations. Key insights include the challenges of managing inventory and the significance of a well-trained BDC. Glenn Lundy joins to share strategies for success in December and beyond, highlighting the necessity of planning ahead and fostering a positive work culture to attract talent.
average transaction price
"barely moved in November, holding at an average transaction price of $49,814."
The average transaction price is what people really pay for cars after all the haggling and extra costs. It's usually different from the sticker price that you see on the car.
The average transaction price (ATP) is the average price that consumers actually pay for a vehicle after negotiations and additional fees. It reflects real market conditions and can differ from MSRP.
MSRP
"Meanwhile, MSRP's continued creeping up higher. The average sticker hit $51,986 in November."
MSRP is the price that car makers suggest dealers sell their cars for. It's like a starting point for how much a car should cost, but the actual price can be different.
MSRP stands for Manufacturer's Suggested Retail Price, which is the price that the manufacturer recommends a dealer charge for a vehicle. It serves as a guideline for pricing but can vary based on market conditions and dealer pricing strategies.
EV pricing
"And of course, EV pricing remains volatile after those federal tax credits went away."
EV pricing is about how much electric cars cost. These prices can change a lot depending on things like technology and government support.
EV pricing refers to the costs associated with electric vehicles, which can vary significantly based on factors such as battery technology, range, and market demand. Prices for EVs have been fluctuating, especially with changes in government incentives.
average new EV transaction price
"November's average new EV transaction price jumped to $58,638."
The average new EV transaction price is how much people usually pay for a new electric car. It helps show how the market is doing.
The average new EV transaction price is the typical amount consumers pay when purchasing a new electric vehicle. This figure can provide insight into market trends and consumer preferences in the EV segment.
Stellantis
"Next up today, Stellantis is getting ready to bring one of Europe's tiniest EVs to the US."
Stellantis is a big car company that makes many different brands of cars. It was created when two companies, Fiat Chrysler and PSA Group, joined together.
Stellantis is a multinational automotive manufacturing corporation formed from the merger of Fiat Chrysler Automobiles and PSA Group. It produces a variety of vehicles under several brands, including Jeep, Dodge, and Peugeot.
Fiat Topolino
"...The Fiat Topolino, it's a two seat quadra cycle that's under 100 inches long. This thing tops out at 28 miles an hour..."
The Fiat Topolino is a very small car that can only fit two people. It's designed for driving in cities and can't go very fast, making it easy to park and maneuver.
The Fiat Topolino is a compact two-seater quadricycle designed for urban mobility. It's notable for its small size and low top speed, making it ideal for city driving.
Citroën Ami
"with the Citroen Amy and Opel Rocks Electric."
The Citroën Ami is a small electric car made for city driving. It's easy to park and helps people get around without spending too much money.
The Citroën Ami is a compact electric vehicle designed for urban mobility, emphasizing affordability and ease of use in city environments.
Opel Rocks
"...opolino shares its bones with the Citroen Amy and Opel Rocks Electric. And right now it's built in Morocco."
The Opel Rocks-e is a tiny electric car made for driving around the city. It's special because it's small and helps reduce pollution, making it a good choice for short trips.
The Opel Rocks-e is a compact electric vehicle designed for urban mobility, offering a unique blend of practicality and eco-friendliness. Its significance lies in its innovative design and the growing trend of small electric cars in city environments.
micro EV
"It's a true micro EV built for short trips, dense urban areas and low cost mobility."
Micro EVs are very small electric cars made for short trips, especially in cities. They are usually cheaper and easier to drive around tight spaces.
Micro EVs are small electric vehicles designed primarily for short-distance travel, often in urban settings, focusing on efficiency and low cost.
KEI cars
"about publicly praising Japan's Kai cars, KEI, in case I'm mispronouncing it, reigniting the conversation about micro vehicles."
KEI cars are tiny cars from Japan that are very small and efficient. They are made to be easy to drive in cities and save money on fuel.
KEI cars are a category of small, lightweight vehicles in Japan, designed to meet specific regulations for size and engine capacity, making them economical and practical for urban use.
RAM 2500
"...for 879 RAM, 1500 classic 2500 and 3500 trucks..."
The RAM 2500 is a stronger version of the RAM truck that can handle bigger jobs. It's great for towing and carrying heavy things, making it useful for work or outdoor activities.
The RAM 2500 is a heavy-duty pickup truck designed for more demanding tasks than the RAM 1500. It offers enhanced towing and payload capacities, making it suitable for both work and recreational use.
Ram 3500
"...for 879 RAM, 1500 classic 2500 and 3500 trucks..."
The RAM 3500 is the biggest and strongest truck RAM makes. It's built to tow very heavy loads and is perfect for tough jobs or hauling big trailers.
The RAM 3500 is the most powerful truck in the RAM lineup, designed for heavy-duty applications. It offers the highest towing and payload capacities, making it ideal for commercial use and serious towing needs.
VIN
"...drivers can check their VIN numbers at nhtsa.gov forward slash recalls."
A VIN, or Vehicle Identification Number, is like a car's fingerprint. It's a special code that helps identify your car and gives details about it, like its make and model.
The Vehicle Identification Number (VIN) is a unique code used to identify individual motor vehicles. It includes information about the vehicle's make, model, year, and place of manufacture.
NHTSA
"...drivers can check their VIN numbers at nhtsa.gov forward slash recalls."
NHTSA stands for the National Highway Traffic Safety Administration, which is a government agency that makes sure cars are safe to drive. They help people find out if their car has any safety recalls.
The National Highway Traffic Safety Administration (NHTSA) is a U.S. government agency responsible for ensuring the safety of motor vehicles and their parts. They oversee vehicle recalls and provide information to the public about safety issues.
Ferrari
"...as an Italian with that background. It's Ferrari, because he doesn't like how Ferrari you have to like climb the ladder..."
Ferrari is a famous car brand from Italy that makes very fast and expensive sports cars. They are known for their bright red cars and success in racing.
Ferrari is a renowned Italian luxury sports car manufacturer known for its high-performance vehicles and racing heritage. The brand is synonymous with speed, style, and exclusivity.
Ford Bronco
"...bought a Bronco from us. So that was pretty cool."
The Ford Bronco is a type of SUV that is built for off-road driving. It's popular for its tough design and ability to handle rough terrain.
The Ford Bronco is a classic SUV known for its off-road capabilities and rugged design. It has a strong following and has been recently revived with modern updates.
Ford F150S
"...the market loves F-150s and our store loves F-150s,..."
The Ford F-150 is a popular truck that many people use for work and everyday driving. It's known for being strong and reliable.
The Ford F-150 is a full-size pickup truck known for its versatility, durability, and popularity in the American market. It is often used for both work and personal purposes, making it a favorite among consumers.
recalls
"They've had a significant amount of recalls."
A recall happens when a car company finds a problem with their cars that could be dangerous. They ask owners to bring their cars in to fix the issue for free.
Recalls occur when a manufacturer identifies a defect in a vehicle that could affect safety or performance. The manufacturer then notifies owners to bring their vehicles in for repairs or replacements at no cost.
Jeep Recon
"...service racks and service buildings to standalone recon building, because when you're selling 150 to 200 ..."
The Jeep Recon is a new electric Jeep that can go off-road, which means it can drive on rough paths. It's important because it's part of Jeep's move to make cars that are better for the environment.
The Jeep Recon is an upcoming electric vehicle that aims to combine Jeep's legendary off-road capabilities with eco-friendly technology. Its significance lies in Jeep's transition towards electric vehicles while maintaining their rugged identity.
Lotus Elite
"of revenue for fixed ops, but also create that elite type of experience that binds you to that custome..."
The Lotus Elite is a fancy sports car that is very light and can turn very well. It's special because it's designed for speed and style, making it a favorite among car enthusiasts.
The Lotus Elite is a luxury sports car known for its lightweight construction and exceptional handling. It holds significance as a representation of Lotus's engineering prowess and is often discussed for its unique design and performance characteristics.
Ford Escape
"... vehicle for somebody. Basically we're losing the escape. We don't have an EcoSport."
The Ford Escape is a small SUV, which means it's a bit bigger than a car but smaller than a truck. It's great for families because it has plenty of space inside and is easy to drive.
The Ford Escape is a compact SUV that offers a blend of efficiency, comfort, and technology, making it a popular choice for families and commuters alike. Its significance lies in its versatility and the fact that it has been a staple in Ford's lineup for many years.
Ford Ecosport
"...sically we're losing the escape. We don't have an EcoSport. We don't have a car line, essentially"
The Ford Ecosport is a small SUV that's easy to drive in the city and has good fuel efficiency. It's being talked about because Ford is changing what cars they sell, and this one might not be available anymore.
The Ford Ecosport is a subcompact SUV that is designed for urban driving with a focus on efficiency and practicality. It has been discussed in the context of Ford's changing vehicle lineup, particularly as it phases out less popular models.
Ford Mustang
"...because the Mustang, even in our weather conditions is not a, can't be an everyday driver."
The Ford Mustang is a popular sports car that many people love for its speed and style. However, it might not be the best choice for driving every day, especially in bad weather.
The Ford Mustang is a classic American muscle car known for its performance and iconic design. It's often associated with a sporty driving experience but may not be practical for everyday use in certain weather conditions.
Ford Focus
"I wish that we had like a focus type car or something to get."
The Ford Focus is a smaller car that is easy to drive and good on gas. It's a popular choice for people who need a reliable vehicle for daily use.
The Ford Focus is a compact car known for its practicality, fuel efficiency, and versatility. It's often seen as a great option for everyday driving and urban commuting.
Ford Fusion
"Focus, fusion. Exactly, to get people."
The Ford Fusion is a family-friendly car that is comfortable and has plenty of space inside. It's a good choice for people who need a reliable car for daily activities.
The Ford Fusion is a midsize sedan that offers a comfortable ride, spacious interior, and a range of engine options. It's designed for families and individuals looking for a reliable vehicle for everyday use.
Ford Festiva
"DNC obviously Ford Festiva, a blast from the past. You know, it's so funny..."
The Ford Festiva is a small, inexpensive car that was made by Ford. It was popular because it was cheap to buy and easy on gas.
The Ford Festiva was a subcompact car produced by Ford in the late 1980s and early 1990s. It was known for its affordability and fuel efficiency, making it a popular choice among budget-conscious consumers.
Kia Sophia
"...I sold the very first Kia Sophia."
The Kia Sophia is a small car made by Kia that was sold in the early 2000s. It was designed to be affordable and a good option for people looking for a budget-friendly vehicle.
The Kia Sophia, also known as the Kia Rio in some markets, is a subcompact car that was introduced in the early 2000s. It was designed to be affordable and practical, appealing to budget-conscious buyers.
Kia
"Cause again, I sold some of the very first Kias in that state alongside Isuzu's."
Kia is a car company from South Korea that makes many different types of cars. They have become very popular and successful in recent years.
Kia is a South Korean automotive manufacturer known for producing a wide range of vehicles, from compact cars to SUVs. Over the years, Kia has transformed into a major player in the global automotive market.
Isuzu
"Cause again, I sold some of the very first Kias in that state alongside Isuzu's."
Isuzu is a car company from Japan that used to make a lot of cars but now mainly focuses on trucks and commercial vehicles.
Isuzu is a Japanese automotive manufacturer primarily known for its commercial vehicles and diesel engines. While it has shifted focus away from passenger cars, it remains active in the truck market.
box trucks
"With the box trucks."
Box trucks are trucks that have a big, square cargo area in the back. They are often used to move things from one place to another.
Box trucks are a type of truck with a large, enclosed cargo area that resembles a box. They are commonly used for transporting goods and are popular in the moving and delivery industries.
Isuzu Rodeo
"Yeah, Isuzu rodeo, the Isuzu Amiga."
The Isuzu Rodeo is a type of SUV made by Isuzu. It was popular for its ability to handle rough terrains and was made from the early 1990s until the early 2000s.
The Isuzu Rodeo is a mid-size SUV that was produced by Isuzu from 1990 to 2004. It was known for its rugged design and off-road capabilities, appealing to those looking for a versatile vehicle.
Isuzu Amigo
"Yeah, Isuzu rodeo, the Isuzu Amiga."
The Isuzu Amigo is a smaller SUV made by Isuzu, produced in the late 1980s and 1990s. It was known for being easier to drive in the city while still being able to go off-road.
The Isuzu Amigo is a compact SUV that was produced by Isuzu from 1989 to 1998. It was designed as a smaller alternative to the Rodeo, offering a more urban-friendly size while still providing off-road capabilities.
cars.com
"But let's talk cars.com, Julie, if we can. Today's episode is brought to you by cars.com, the number one most recognized market brand."
Cars.com is a website where people can buy and sell cars. It helps you find information about different cars and compare prices.
Cars.com is an online platform that connects car buyers with sellers, providing tools for researching vehicles, reading reviews, and comparing prices. It is widely recognized in the automotive marketplace.
Jeep Gladiator
"Yeah, yeah. In fact, it reminds me of a quote gladiator. Do you remember the gladiator movie, Russell Cro..."
The Jeep Gladiator is a truck that can go off-road, meaning it can drive on rough terrain like dirt and rocks. It's special because it has a truck bed for carrying things, while still being a Jeep that can handle tough conditions.
The Jeep Gladiator is a mid-size pickup truck that combines the rugged off-road capabilities of the Jeep brand with the utility of a truck bed. It is significant for its unique design that allows for both adventure and practicality, making it a popular choice among outdoor enthusiasts.
13th month
"...they call it the 13th month in a lot of car dealerships."
The '13th month' is a nickname for the last week of the year when car dealerships often have big sales. They try to sell as many cars as possible before the new year starts.
The term '13th month' refers to the last week of the year when many car dealerships experience a surge in sales due to year-end incentives and promotions. It's a time when dealerships aim to clear out inventory and meet annual sales goals.
BDC
"Yeah, so when it comes to BDC, business development center, I don't even really know what that means."
BDC means Business Development Center. It's a part of a car dealership that helps connect with customers and manage sales leads.
BDC stands for Business Development Center, which is a department within a dealership focused on customer relationship management and lead generation. They often handle incoming inquiries and follow up with potential buyers to increase sales.
transparent pricing
"...the need for greater transparency and automotive. Transparency behind advertising, advertising correctly, and then really being transparent with consumers..."
Transparent pricing means being open about how much a car costs, including all the extra fees and charges. It helps buyers know exactly what they are paying for without any surprises.
Transparent pricing refers to the practice of clearly communicating the costs associated with a vehicle purchase, including the vehicle price, taxes, fees, and any additional costs. This approach helps consumers understand what they are paying for and reduces hidden fees that can arise during the buying process.
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