vAuto Podcast

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Dialogue Series Wrap-Up: vAuto’s Dale Pollak Highlights Key Market Conditions as 2020 Closes Nov 16, 2020

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In this vAuto Podcast episode, vAuto founder Dale Pollak responds to dealers who asked for guidance and insight on used market conditions in the final quarter of 2020. Dale discusses how a slight softening of retail sales and wholesale values should guide dealers’ decisions to acquire more inventory, and shape their retailing strategies for higher-cost auction vehicles. Dale outlines how dealers might rethink their appraisal process to bring in vehicles that offer opportunity in both the retail and wholesale markets. Dale also points to a potential bright spot in 2021—how a second round of federal stimulus funds will likely buoy new and used vehicle sales.

Digital, Virtual, Remote: What the Consumer Wants Nov 10, 2020

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In this vAuto podcast episode, Brian Finkelmeyer, senior director of new car solutions for vAuto, and guest David Barash, finance director at Glassman Automotive Group in Metro Detroit discuss how dealers are taking advantage of digital interfaces and virtual tools to complete a deal. David shares that customers know exactly what they want due to the accessibility of information available to them. With digital tools, customers can take a virtual walk-around and test drive a vehicle from the comfort of their living room! Despite the pandemic eliminating inventory across the country, David notes that it gives his team more time to structure a great deal with what they have. Looking ahead, the end of the year looks to hold strong thanks to the power of technology and innovation.

Adapting to New Rules in the New Car Market Oct 27, 2020

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In this vAuto podcast episode, host Lance Helgeson and Brian Finkelmeyer, senior director of new car solutions for vAuto, discuss how dealers can thrive in a new car market where retail demand currently outpaces inventory supply, and the race to the bottom is now a race to inventory. Brian offers best practices for dealers to ensure they understand their best-selling models, colors, equipment and trim combinations, and to proactively address slower-moving inventory that can restrict a dealer’s ability to order and stock the best-selling vehicles. Brian also shares a look ahead at how the lessons dealers and factories learned during the pandemic will shape the new vehicle market through the end of 2020 and into 2021.

Dealer Voices: “I’m Literally Running Out of Cars to Sell” Oct 20, 2020

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In this episode of the vAuto Podcast Retail Revival series, host Randy Kobat and Nick Anderson, general manager at Chuck Anderson Ford, Excelsior Springs, MO, discuss how market conditions have pushed Nick to rely on alternative strategies to acquire used vehicle inventory. Nick shares how Kelley Blue Book Instant Cash Offer helps him acquire 20 vehicles a month with lower Cost to Market percentages than auction purchases. Nick outlines his strategy for working with customers, whether they purchase a vehicle or not, to ensure a satisfying, transparent process. Nick also offers the three strategies he’ll follow to ensure a strong close to 2020.

An Independent Dealer’s View of Inventory Acquisition and the Road Ahead Oct 01, 2020

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In this vAuto podcast episode, Eric Nelson of Nelson Auto, Mt. Prospect, IL, and Patrick Janes, director of business development for Stockwave discuss how Eric uses technology to efficiently find and acquire the right inventory for his dealership. Eric shares how he blends online and proxy bidding to acquire the vehicles he knows will sell in his market, and how Google helps him track retail trends that inform the amount and type of inventory he needs. Eric also details why he believes, despite 2020’s raft of disruptions, his store will end the year ahead of its retail performance in 2019.

Dealer Voices: “We Love the Science of the Automotive Business” Sep 29, 2020

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In this episode of the vAuto Podcast Retail Revival series, host Randy Kobat and Dan Garwatoski, sales manager at Nissan North, Columbus, OH, discuss how Dan and his team have found success despite ongoing volatility in the retail automotive market. Dan shares how Provision ProfitTime helped the dealership raise prices to meet retail demand and acquire the right cars for the right money, despite a hot wholesale market. Dan also discusses the digital retailing lessons his team has taken to heart, and how the right people and processes feed the dealership’s ongoing success.

How Recon Estimates Hurt Your Appraisal Success Sep 17, 2020

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In this vAuto podcast episode, host Lance Helgeson and iRecon founder Mike Boyd discuss how inaccurate reconditioning estimates in appraisals can undermine a dealership’s ability to acquire and retail used vehicles. Mike shares findings that suggest an average $600 variance between reconditioning estimates and the cost of the actual work—a gap that often translates to lower look-to-book ratios and less-productive inventory acquisition efforts. Mike also details how dealers can measure appraiser performance to achieve a higher level of recon estimate accuracy and consistency, and how such “measure to manage” efforts yield more positive outcomes for the dealership.

Dealer Voices: “Find Out What it is That Makes You Different” Sep 02, 2020

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In this episode of the vAuto Podcast Retail Revival series, host Randy Kobat and Cary Donovan, dealer principal at Rolling Stock Specialty Auto Sales, Louisville, KY, discuss the unique retailing strategy Donovan has developed at his warehouse operation. Donovan shares how he manages his customers through appointment-only and details his reasons for choosing not to offer F&I options as part of his customer-centric sales process. Donovan outlines how he determines if a vehicle is right for his customers and his effort to become a trusted advisor to win a customer’s business and satisfaction.

A Stocking Prescription for the Current Market Aug 12, 2020

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In this vAuto podcast episode, host Lance Helgeson and vAuto founder and Cox Automotive executive vice president, Dale Pollak, discuss current market conditions that suggest dealers take a more cautious approach to acquiring used vehicle inventory. Dale shares his recommendation that dealers should stock a 30-day supply of inventory, based on a rolling 14-day total of retail sales, rather than a full 30-day snapshot. Dale also suggests dealers should rethink cars that “cost too much” at auction and offers a benchmark to help dealers capture a higher percentage of lower-cost, trade-in opportunities to ease their reliance on auction purchases.

Dealer Voices: “You Have to Adapt to Your Market” Aug 05, 2020

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In this episode of the vAuto Podcast Retail Revival series, host Randy Kobat and Bobby Sight, operations director at Rob Sight Ford, Kansas City, discuss how Bobby has spent the past year revamping the dealership’s marketing strategy as part of an effort to increase the store’s new vehicle business. A fourth-generation dealer, Sight shares how he studied competitor inventories and sales to find his own opportunities to grow market share. Sight details how his more aggressive approach to new vehicles created positive momentum that has helped him grow retail sales by 27 percent despite the disruption and low inventory levels caused by the COVID-19 pandemic. Sight also shares how he and his team are faring in used vehicles as they contend with unprecedented competition and cost for wholesale inventory.

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