UCDP Ep #16 - James Maynard, Cox Automotive SVP Product & Engineering, discusses Digital Retail and Fixed Ops

In this episode of the Used Car Dealer Podcast, Zach talks with Mike Trudeau, EVP of Business Development at Montway Auto Transport. They'll cover the impact of digital retail on auto transport, the benefits of Montway's M.A.P system for dealerships, how Montway is shaping the future of automotive logistics, and much more!

Some of the questions asked on the podcast include:

Q) How did you start in the automotive industry?
Q) What role does Montway Auto Transport play for dealers?
Q) What dealership logistics trends have you noticed?
Q) Can you explain Montway's M.A.P system?
Q) What are the standout features of the M.A.P. update?
Q) How does Montway guarantee safe and reliable vehicle transport?
Q) What does the future hold for automotive logistics and Montway's role?
Q) How is digital retail, with more consumers buying cars online, impacting the transportation and logistics landscape?
Q) What lessons has Montway learned from its growth to a leading transport company?
Q) Do you have a memorable story of Montway helping a dealer in need?
Q) What's next for Montway in 2024?

Listen to our other podcast episodes: https://www.sellyautomotive.com/podcast
Transcribe of this podcast - https://blog.sellyautomotive.com/blog/montway-auto-2024
Learn More about Montway - www.montway.com 

In this episode of the Used Car Dealer Podcast, Zach interviews Kanchana Sundaram, Senior Director of Product and Innovation at  Experian. They discuss how Experian's tech, especially Fraud Protect, is revolutionizing the fight against fraud in the auto industry, the future of auto industry fraud prevention, and Experian's role in safeguarding dealerships and customers.
Some of the questions asked on the podcast include:

Q) How did you start your career in the automotive industry?
Q) How has online car buying increased fraud risks for dealers, and what are the current trends?
Q) What are the key features of Experian's Fraud Protect and its market uniqueness?
Q) How does Fraud Protect use AI for fraud detection, and what alerts do dealers get?
Q) With fraud losses rising, what fraud types are common in the auto industry, and how does Fraud Protect combat them?
Q) How does Fraud Protect balance fraud prevention with a smooth customer experience?
Q) What privacy and security measures does Fraud Protect have for customer data?
Q) How does Fraud Protect adjust to online vs. in-person sales challenges?
Q) How do dealers without Fraud Protect fight fraud?
Q) Can you share a success story where Fraud Protect significantly cut fraud losses?
Q) What future fraud trends and Fraud Protect enhancements are expected?
Q) How does Experian's service suite enhance Fraud Protect's fraud prevention and data management?

Listen to our other podcast episodes: https://www.sellyautomotive.com/podcast
Transcribe of this podcast - https://blog.sellyautomotive.com/blog/kanchana-experian

In this episode of the Used Car Dealer Podcast, Zach interviews Luke Lunkenheimer, an inspiring trainer in the automotive industry and owner of a multi-rooftop used car dealership group. Luke's journey from a past of addiction and prison to the cover of Used Car Dealer Magazine as a successful car dealer is nothing short of remarkable. Zach delves into Luke's transformative journey, discussing how he overcame the stigma of his past, the unique strategies that set Luke's dealerships apart, and the impact of training on sales. This conversation is a deep dive into the resilience and entrepreneurial spirit that defines Luke Lunkenheimer.

Some of the questions asked include:

Q) Can you summarize your journey from addiction and prison to successful car dealership owner?
Q) How did you overcome the stigma of being a felon and rebuild your professional life?
Q) How has your family's history in car dealing influenced your business approach?
Q) Could you describe the current scale and evolution of your dealership operations?
Q) What key lessons from prison have shaped your business and personal life?
Q) What unique strategies differentiate your dealerships in the competitive used car market?
Q) How have online platforms and digital marketing changed your sales strategy?
Q) What are your biggest challenges in inventory management and how do you address them?
Q) Can you elaborate on how you maintain ethical practices in your business?
Q) What advice would you give to someone in the car business struggling with addiction or major setbacks?
Q) What are your future goals for your auto business and personal endeavors in 2024?
Q) Can you tell us about your new sales training venture, 'Paid 2 Persuade' (https://training.paid2persuade.com) and its impact?

Listen to our other podcast episodes: https://www.sellyautomotive.com/podcast
Transcribe of this podcast - https://blog.sellyautomotive.com/blog/luke-lunkenheimer-2024

In this episode of the Used Car Dealer Podcast, Zach interviews Jeremy Robb, Senior Director of Economic and Industry Insights at Cox Automotive. They delve into the dynamic shifts in the automotive market, focusing on the trends and challenges of 2023, the evolving landscape of used vehicle values, the critical role of data in decision-making within the industry, and 2024 predictions. 

Some of the questions asked include:

Q) What sparked your interest in the automotive industry and led to your career there?

Q) Reflecting on 2023, what were some unexpected developments in the automotive market?

Q) Could you discuss the latest trends in used vehicle values from the Manheim Market Insights?

Q) What role do you foresee for data in automotive industry decision-making, and how is Cox Automotive aiding dealers in this area?

Q) With your experience at Nissan and Cox Automotive, how do you approach forecasting in the dynamic automotive sector?

Q) How is the recent economic climate impacting auto loan defaults and repossessions?

Q) How is the focus on EV batteries and technology influencing the traditional used car market?

Q) What advice would you give to used car dealers for optimizing inventory and managing customer price expectations?

Q) Based on current trends, what are your predictions for the used car market in 2024?

Q) What advice would you offer to dealers to navigate the current economic and industry challenges in 2024?

Q) Looking ahead, what are some key developments at Cox Automotive that dealers should be excited about in 2024?

Listen to our other podcast episodes: https://www.sellyautomotive.com/podcast 

Transcribe of this podcast - https://blog.sellyautomotive.com/blog/jeremy-robb-2024

In this episode of the Used Car Dealer Podcast, Zach sits down with Matt Watson, a very successful serial entrepreneur in the software space and co-founder of Vin Solutions CRM (Acq. Autotrader/Cox Automotive). They discuss the evolution of automotive retail, the impact of EV technology and direct sales model, and the unique approach to identifying and capitalizing on new business opportunities in the tech world.

Some of the questions asked include:

Q) Can you briefly describe your journey from working at Sears in your early 20s to co-founding Vin Solutions CRM and its sale to Cox Automotive for over $130M?

Q) What was the specific problem for car dealers that sparked the early development of Vin Solutions, and how did the solution evolve?

Q) From your experience with Vin Solutions, how did you observe car dealers' approaches to marketing and customer outreach differ from other industries?

Q) How did you overcome the challenges of raising venture capital for Vin Solutions, given its location outside major tech hubs and the market's initial misunderstanding of dealers' software needs?

Q) With your new venture, At Capacity, targeting the home services space, what similar challenges do you see between car dealers and home service providers?

Q) As an early adopter of EVs and multiple Tesla purchases, what are your thoughts on the current state of charging networks, EV service, and Tesla's direct-to-consumer sales strategy?

Q) Given your extensive experience in automotive CRM and dealership solutions, how do you envision the future of automotive retail, especially regarding technology and customer data?

Q) Throughout your entrepreneurial career, what key factors do you consider when deciding to pursue a new business idea, and how do you assess its potential success?

Q) From a CTO's perspective, what are your thoughts on the AI hype and developments in 2023, and what do you foresee for AI in 2024?

Q) Can you briefly discuss the growth of Full Scale in the Philippines, particularly your experience starting it and scaling up to over 300 developers?

Listen to our other podcast episodes: https://www.sellyautomotive.com/podcast
Transcribe of this podcast - https://blog.sellyautomotive.com/blog/matt-watson-2024

In this episode of the Used Car Dealer Podcast, Zach is joined by Amir Hever, CEO and Co-founder of UVeye . They discuss the story behind UVeye's cutting-edge automatic vehicle inspection technology, explore how AI is shaping customer experience, and the pivotal role of innovation in redefining transparency and trust in dealerships.

Some of the questions asked include:

Q) Can you briefly describe UVeye and the reasons behind its founding?

Q) How has UVeye's product changed since its inception in 2016?

Q) How do dealers and OEMs react differently to your product?

Q) How can AI and data increase transparency and rebuild trust in dealerships?

Q) Why is the customer experience declining and how can AI improve it and workplace efficiency?

Q) Why do some still use the "Penny Check," and what modern tools can dealers adopt for improvement? (Can you also explain what "Penny Check" means?)

Q) What makes UVeye's use of AI unique in the auto industry?

Q) Which upcoming trends in the automotive industry, like Autonomous Tech or EVs, excite you the most?

Q) Can you share any upcoming developments from UVeye for 2023 and early 2024?

Listen to our other podcast episodes: https://www.sellyautomotive.com/podcast
Transcribe of this podcast - Interview with Amir Hever, CEO of UVeye: Pioneering MRI for Vehicles (sellyautomotive.com)

In this episode of the Used Car Dealer Podcast, Zach interviews Jim Maguire, Experian's senior director of product marketing for automotive. They discuss dealership fraud, ways to prevent it at your store, and Experian’s latest report on fraud in the industry.

Some of the questions asked include:

Q) What's your industry background and why did you join Experian?
 
Q) What was your first car?

Q) What are the most common automotive fraud types professionals should be aware of?

Q) What challenges do dealers and lenders face regarding auto industry fraud?

Q) Why are dealers and lenders more vulnerable to fraud with the growth of digital retail?

Q) How can dealers and lenders prevent identity theft?

Q) Can you tell us about the 2023 U.S. Identity and Fraud Report by Experian, and key findings?

Q) What has been the biggest surprise for you in 2023 at Experian?

Q) Which automotive futures excite you the most?

Q) For a small to midsize used car dealer, how should they protect their business from fraud?

Q) What can we expect from Experian and yourself for the rest of 2023?


Listen to our other podcast episodes: https://www.sellyautomotive.com/podcast
Transcribe of this podcast - https://blog.sellyautomotive.com/blog/jimmaguire2023
Experian's 2023 Fraud Report - https://www.experian.com/blogs/insights/2023/07/experian-2023-identity-and-fraud-report

In this episode, Zach interviews Kieran O'Brien, the Founder, and CEO of ShopGenie. Zach delves into Kieran’s entrepreneurial journey, which includes selling his first company at just 21 years old. They discuss post-pandemic challenges, issues within the auto repair industry, feedback from ShopGenie's stealth stage (an auto repair platform set to publicly launch June 15th), potential impacts of BEVs, and the implications of right-to-repair legislation, among other relevant topics.

Some of the questions asked include:

Q) Can you briefly describe your journey as a young entrepreneur, and is it true you sold your first company at 21?

Q) How did you enter the auto repair market and what issues did you notice there?

Q) What are the top opportunities for auto repair shops after the pandemic?

Q) Can you explain the concept of "stealth" in startups and the idea behind ShopGenie's inception?

Q) Can you share some of the responses and progress you've seen during your stealth phase?

Q) What key problems in the auto repair sector does your solution address?

Q) Can you share some lessons from your past startup success that you've applied to ShopGenie?

Q) What are your views on Battery Electric Vehicles (BEVs) in the auto repair sector and their potential impact?

Q) How do you envision the future of the auto repair industry, especially considering new legislation like the right-to-repair bill?

Q) Can you provide a sneak peek into what ShopGenie plans for the rest of 2023?

Listen to our other podcast episodes: https://www.sellyautomotive.com/podcast
Transcribe of this podcast - https://blog.sellyautomotive.com/blog/kieran2023

In this episode of the Used Car Dealer Podcast, Zach is joined by Jeff Martin, CEO of NIADA, for a preview of the upcoming NIADA Convention 2023, they touch on key topics like regulatory compliance, overcoming used industry challenges, building stronger dealerships, and networking with federal agencies.

Some of the questions asked include:

Q) Why should someone think about attending the NIADA Convention this year?

Q) Who should be brought from the dealership to this event? General manager, finance manager, who else should attend?

Q) How long have you been involved with NIADA and attending their conventions?

Q) What is different about this year's expo for dealers?

Q) What can dealers expect to gain from the convention and Expo that will help them create a near immediate positive impact at their dealership?

Q) Could you tell us a little more about what else attendees can expect from NIADA and the Expo Hall?

Q) What excites you about the outlook for the used car marketplace this year?

Q) What are some other events in 2023 that NIADA puts on?

Q) If a dealer is listening and they're not yet a member of the NIADA, why should they join?

Q) How do they sign up for their pass to go to NIADA?

Listen to our other podcast episodes: https://www.sellyautomotive.com/podcast
Transcribe of this podcast - https://blog.sellyautomotive.com/blog/jeffm/may2023

In this insightful and special 50th UCDP episode, Zach has a conversation with industry expert and investor Steve Greenfield about the fast-changing automotive landscape. They delve into timely topics, such as electric vehicles, OEM subscription-based features, autonomous technology, and digital retail, providing valuable insights into the industry's evolution.

Some of the questions asked include:

Q) Steve, it's been quite a while since we last had you on the podcast, and you've accomplished some incredible things with Automotive Ventures and the Dealer Fund. For our listeners who may not be as familiar with your recent work, could you share some of the standout highlights from the past year?

Q) During the pandemic, online used car dealers like CVNA took the public markets by storm, but since then, several of these online used car dealers (Vroom, Shift) are down over 90% since pandemic highs; what's the outlook for these sort of companies? From my perspective, Carmax is winning that niche right now.

Q) When you look at the automotive software companies that have started raising at a seed stage post-pandemic, what are some of the interesting problems they are solving in the auto tech/mobility space?

Q) I heard you speak at NADA this year, and you talked a little about the EV space; what's your perspective on some of the disruption in the service side of the auto industry, specifically BEV and over-the-air updates?

Q) Autonomous tech has been a hot topic in the industry for over a decade; at one point, Elon predicted we would have 1M Tesla Robotaxis by 2020; from your view, where are we with autonomous tech?

Q) ChatGPT has become the fastest-growing consumer software product to date. As an investor, what are your thoughts on AI’s potential implications not only for auto software products but also from a (data) inventory pricing or trade appraisal perspective?

Q) Saas and Subscriptions are eating the world. When BMW announced features like heated seats were to be sold to consumers on a subscription model, it created a lot of buzz. What’s your perspective on subscription features in a car, and what does that mean for the used car side of the business once that new car with a subscription is sold to the next buyer?

Q) Digital retail was a big buzzword during the pandemic, and there was a lot of interest from dealers on how they could sell inventory online via one of these tools. Roadster was a big winner of this movement, but some of the other DR tools have since then shuttered; what’s the next iteration of DR in this industry beyond the e-commerce widget?   

Q) What headwinds do you see coming down the pipeline for traditional new and used car dealerships?

Q) What automotive innovation are you most excited about that you saw at CES this year?

Q) You are closing a fund at the end of the month; tell us about that and how accredited investors can join. (If allowed / ok to ask)

Q) Lastly, you are an amazing speaker and a Delta million miler which means your 2nd home may be a Delta One plane seat; what are some upcoming industry events dealers or allied industry listening can see you speak at?

Listen to our other podcast episodes: https://www.sellyautomotive.com/podcast
Transcribe of this podcast - https://blog.sellyautomotive.com/blog/steveg/april2023