Wyler on Acquisition, Rohrman on Tariffs, Owens on Reviews, Painter on TrueCar | Daily Dealer Live
About this episode
David Wyler discusses his recent acquisition of a luxury dealership group, expanding his portfolio with brands like Ferrari and Lamborghini. Ryan Rohrman shares insights on dealership operations and the importance of communication amidst high turnover rates. Kyler Owens from Widewell highlights the significance of customer intelligence in improving dealership performance, while Scott Painter outlines TrueCar's new direction post-acquisition, focusing on enhancing dealer relationships and digital retailing. The episode dives into industry challenges, strategies for success, and the evolving landscape of automotive retail.
Ferrari
"...a once-in-a-generation luxury acquisition, Ferrari, Lamborghini,..."
Ferrari is a famous car brand from Italy that makes very fast and expensive sports cars.
Ferrari is a renowned Italian luxury sports car manufacturer known for its high-performance vehicles and rich motorsport heritage.
Lamborghini
"...a once-in-a-generation luxury acquisition, Ferrari, Lamborghini,..."
Lamborghini is another well-known Italian car brand that produces luxury sports cars that are very powerful and stylish.
Lamborghini is an Italian manufacturer of high-performance sports cars, recognized for their aggressive designs and powerful engines.
Rivian
"Next up today, Rivian is taking a very public swing at Washington State's franchise laws. We've talked a lot about direct-to-consumer EV vis-a-vis scout motors by Volkswagen."
Rivian is a company that makes electric vehicles, like trucks and SUVs, designed for outdoor adventures. They are known for their unique features and modern technology.
Rivian is an American electric vehicle manufacturer known for its all-electric R1T pickup truck and R1S SUV. The company focuses on adventure-oriented electric vehicles and has garnered significant attention for its innovative designs and technology.
direct-to-consumer
"Rivian's pledging nearly $5 million to push a ballot measure that would let more EV makers sell direct to consumers. Right now, Tesla's the only automaker allowed to sell direct in Washington."
Direct-to-consumer means that companies sell their products directly to buyers instead of going through stores or dealerships. This can help customers get better prices and services.
Direct-to-consumer refers to a sales model where manufacturers sell their products directly to customers, bypassing traditional dealerships. This approach allows for better pricing and customer experience but can conflict with existing franchise laws.
EV
"...that would let more EV makers sell direct to consumers. Right now, Tesla's the only automaker allowed to sell direct in Washington."
EV means electric vehicle, which runs on electricity instead of gas. They are usually better for the environment and can save money on fuel.
EV stands for electric vehicle, which is a type of vehicle that is powered entirely or partially by electricity instead of traditional gasoline or diesel fuel. EVs are known for being more environmentally friendly and often have lower operating costs.
Volkswagen
"...direct-to-consumer EV vis-a-vis scout motors by Volkswagen. Rivian's pledging nearly $5 million to push a ballot measure..."
Volkswagen is a car company from Germany that makes many popular vehicles. They are also working on electric cars to be more environmentally friendly.
Volkswagen is a German automotive manufacturer known for producing a wide range of vehicles, including the iconic Beetle and the Golf. The company has also made significant investments in electric vehicle technology and aims to expand its EV lineup.
Tesla
"I think there's a big difference between Rivian and Tesla that don't have a dealer network and an entity like Volkswagen trying to go direct through scout."
Tesla is a well-known company that makes electric cars. They sell their cars directly to customers instead of using car dealerships.
Tesla is a leading electric vehicle manufacturer known for its innovative technology, including autopilot features and a direct sales model that bypasses traditional dealerships.
Toyota
"First, Auto Canada has sold Toyota of Lincoln Park in Chicago to Margato Automotive Group as part of Auto Canada's broader exit from the US market."
Toyota is a car company from Japan that makes popular and dependable cars. Many people trust Toyota for their vehicles.
Toyota is a well-known Japanese automotive manufacturer recognized for its reliable and fuel-efficient vehicles. The company has a significant presence in the global automotive market.
Kia
"Next up in New Mexico, Giles Automotive has purchased a Kia dealership in Las Cruces from the Petri Automotive Group."
Kia is a car company from South Korea that makes affordable and stylish cars. They are known for providing good value for the price.
Kia is a South Korean automotive manufacturer known for producing affordable and stylish vehicles. The brand has gained popularity for its value and warranty offerings.
Lexus
"And in Florida, Pinsky Automotive Group announced it will acquire Lexus of Winter Park and Lexus of Orlando."
Lexus is a luxury car brand that comes from Toyota. They make high-end cars that are very comfortable and packed with technology.
Lexus is the luxury vehicle division of the Japanese automaker Toyota. It is known for producing high-quality, luxury cars that emphasize comfort and advanced technology.
tariffs
"...President Trump is back threatening to raise tariffs on South Korean auto imports to 25%..."
Tariffs are extra fees that a government charges on products coming from other countries, which can make those products more expensive.
Tariffs are taxes imposed by a government on imported goods, which can affect the price and availability of foreign products, including cars.
Midwest Auto Group
"Yeah, Sam. Well, we purchased the Midwest Auto Group. Some folks may recognize it as MAG in Dublin, Ohio, and it's 14 brands..."
Midwest Auto Group is a company that sells various car brands. They have dealerships that offer different types of vehicles.
Midwest Auto Group, also known as MAG, is an automotive dealership group located in Dublin, Ohio, that represents multiple car brands.
Porsche
"...none of which we actually had as of two weeks ago. So that'd be Ferrari, Porsche, that'd be Rolls, Bentley..."
Porsche is a well-known car brand from Germany that makes high-performance sports cars and luxury vehicles.
Porsche is a German automobile manufacturer specializing in high-performance sports cars, SUVs, and sedans.
Lotus
"...none of which we actually had as of two weeks ago. So that'd be Ferrari, Porsche, that'd be Rolls, Bentley, Lamborghini, Volvo, Volkswagen, Lotus..."
Lotus is a car brand from the UK that makes lightweight and fast sports cars.
Lotus is a British car manufacturer known for its lightweight sports cars and focus on performance.
BMW
"...none of which we actually had as of two weeks ago. So that'd be Ferrari, Porsche, that'd be Rolls, Bentley, Lamborghini, Volvo, Volkswagen, Lotus, Maserati, Mini, BMW..."
BMW is a car brand from Germany that makes luxury cars known for being fun to drive.
BMW is a German luxury automobile manufacturer known for its performance-oriented vehicles and sporty designs.
Jaguar
"...none of which we actually had as of two weeks ago. So that'd be Ferrari, Porsche, that'd be Rolls, Bentley, Lamborghini, Volvo, Volkswagen, Lotus, Maserati, Mini, BMW, Jaguar..."
Jaguar is a luxury car brand from the UK that makes stylish and fast cars.
Jaguar is a British luxury car manufacturer known for its stylish vehicles and performance.
Mini
"...none of which we actually had as of two weeks ago. So that'd be Ferrari, Porsche, that'd be Rolls, Bentley, Lamborghini, Volvo, Volkswagen, Lotus, Maserati, Mini..."
Mini is a car brand from the UK that makes small, stylish cars.
Mini is a British automotive brand known for its compact cars that combine style and performance.
Maserati
"...none of which we actually had as of two weeks ago. So that'd be Ferrari, Porsche, that'd be Rolls, Bentley, Lamborghini, Volvo, Volkswagen, Lotus, Maserati..."
Maserati is a luxury car brand from Italy that makes stylish and sporty cars.
Maserati is an Italian luxury vehicle manufacturer known for its stylish cars and sporty performance.
Land Rover
"...none of which we actually had as of two weeks ago. So that'd be Ferrari, Porsche, that'd be Rolls, Bentley, Lamborghini, Volvo, Volkswagen, Lotus, Maserati, Mini, BMW, Jaguar, Land Rover..."
Land Rover is a car brand from the UK that makes luxury SUVs that can drive off-road.
Land Rover is a British manufacturer known for its luxury SUVs that are capable off-road vehicles.
Volvo
"...none of which we actually had as of two weeks ago. So that'd be Ferrari, Porsche, that'd be Rolls, Bentley, Lamborghini, Volvo..."
Volvo is a car brand from Sweden that is known for making safe and reliable cars.
Volvo is a Swedish automotive brand known for its focus on safety and producing reliable vehicles.
Subaru
"...we don't have a Ford franchise, don't have Lexus or Subaru..."
Subaru is a car brand from Japan that is famous for making cars that can handle tough weather and off-road conditions.
Subaru is a Japanese automaker known for its all-wheel-drive vehicles and strong reputation for safety and reliability, particularly in outdoor and rugged conditions.
Chevrolet Silverado
"...o, I think they're, I think they're good in their Silverado demos that they have. Yeah, yeah, good for them...."
The Chevrolet Silverado is a big truck that people use for work or to carry things. It's known for being tough and reliable, making it a favorite for those who need a vehicle that can handle heavy loads.
The Chevrolet Silverado is a full-size pickup truck known for its strong performance, durability, and versatility. It has been a popular choice among consumers for both work and personal use, often praised for its towing capacity and range of available features.
OEMs
"...across all these OEMs is great. So that's my take on on these OEMs."
OEM means Original Equipment Manufacturer. It's a term used for companies that make parts for cars, which are then sold by other companies. For example, a car maker that builds engines for their cars is an OEM.
OEM stands for Original Equipment Manufacturer, which refers to companies that produce parts and equipment that may be marketed by another manufacturer. In the automotive context, it typically refers to car manufacturers that produce vehicles and their components.
Hummer
"...like with Hummer and Rivian and I know Tesla soft now, but in some of the other electrics that that we have..."
Hummer is a brand that makes big, tough SUVs. They are now making electric versions of these vehicles, which means they will be more environmentally friendly.
Hummer is a brand known for its large, rugged SUVs, which have been reintroduced as electric vehicles. The brand's revival aims to combine its iconic design with modern electric technology, appealing to both enthusiasts and eco-conscious consumers.
Acura
"...I can tell that same story with, with Hyundai, I can tell it with Lexus, I can tell it with Acura..."
Acura is a luxury brand from Honda that makes cars known for their performance and technology features.
Acura is the luxury vehicle division of Honda, known for producing performance-oriented vehicles with a focus on technology and reliability.
Hyundai
"...I can tell that same story with, with Hyundai, I can tell it with Lexus..."
Hyundai is a car company from South Korea that produces many types of vehicles, including cars and SUVs, and is known for good value and quality.
Hyundai is another major South Korean automotive manufacturer, recognized for its wide range of vehicles, including sedans, SUVs, and electric cars. It has a strong presence in global markets.
Daewoo
"...there's also failures like Daewoo came over, he goes, I want three of those..."
Daewoo was a car company from South Korea that made inexpensive cars but stopped making them a long time ago.
Daewoo was a South Korean automotive manufacturer that produced a range of vehicles but eventually ceased operations in the early 2000s. It was known for offering affordable cars.
Isuzu
"...Suzuki Azuzu, we had those and we had like ones and twos and they're gone too..."
Isuzu is a car company from Japan that used to make cars and trucks, but now focuses more on commercial vehicles.
Isuzu is a Japanese automaker known for its commercial vehicles and diesel engines. It has a history of producing SUVs and trucks but has largely exited the passenger car market.
Suzuki
"...Suzuki Azuzu, we had those and we had like ones and twos and they're gone too..."
Suzuki is a car company from Japan that makes small cars and motorcycles, known for being reliable and affordable.
Suzuki is a Japanese automaker known for its small cars, motorcycles, and all-terrain vehicles. It has a reputation for producing reliable and economical vehicles.
KPI
"we change some KPIs, we change some of our methodologies and what we will and will do."
KPI means Key Performance Indicator. It's a way to measure how well a business is doing in reaching its goals. For a car dealership, this could mean looking at how many cars they sell or how happy their customers are.
KPI stands for Key Performance Indicator, which is a measurable value that demonstrates how effectively a company is achieving its key business objectives. In the context of a dealership, KPIs can include metrics like sales volume, customer satisfaction, and profit margins.
supply chain shortages
"...supply chain shortages, tariffs, all the concerns about the economy..."
Supply chain shortages mean there aren't enough cars available because of problems in making and delivering them. This can make buying a car harder and more expensive.
Supply chain shortages occur when there are disruptions in the production and distribution of goods, leading to a lack of available products. In the automotive industry, this can result in fewer cars being produced and sold, affecting prices and availability.
TrueCar
"...TrueCar was always built on this affinity network."
TrueCar is a website that helps people find out how much cars should cost. It shows you what other buyers paid, so you can get a better deal when buying a car.
TrueCar is an automotive pricing and information website that helps consumers understand car pricing and negotiate better deals. It aims to provide transparency in the car buying process by showing what others have paid for similar vehicles.
franchise dealers
"...you've got about two-thirds of the dealers, a little over 8,000 dealers are franchise dealers. TrueCar represents nearly half of all franchise dealers..."
Franchise dealers are car dealerships that sell cars from certain brands, like Ford or Toyota. They have permission from the car makers to sell their cars and usually offer services like repairs and maintenance.
Franchise dealers are car dealerships that are authorized to sell vehicles from specific manufacturers. They typically have a contractual agreement with the manufacturer to sell their cars and provide service, often offering a wider range of services and support compared to independent dealers.
Nissan Pulsar
"...er it's Scout going direct. I think Tesla, Lucid, Pulsar, all these companies have really opened up a con..."
The Nissan Pulsar is a small car that's easy to drive and good on gas. It's designed to be comfortable and has enough space for passengers and luggage, making it a great option for city driving.
The Nissan Pulsar is a compact car that has been popular in various global markets, known for its practicality and efficiency. It often features a spacious interior and a range of technology options, making it a solid choice for everyday driving.
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