#480 - 📺 Channel Surfing

TOGETHER WITH

A guy walks into an airport with a vulture on his shoulder.

Security stops him and says, “Hey, man, you can’t bring that vulture on the plane!”

A little annoyed, he turns and says, “What are you talking about? This is a carrion bird…” 🪶

Book your flight for ASOTU CON yet?

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

TODAY’S LOT WALK

• David Long’s All Things Used Cars finds the best choice 🥇

• Minority-Owned dealerships jump 📈

• RoboTaxis never sleep in San Francisco 🌙

Reading time: 4 mins 22 secs

DEALERS

Best Acquisition Channel?

Last week on David Long's All Things Used Cars, the community visited the topic of acquisition channels with one question in mind - which one is best for gross profits?

Many shared, and all learned. We grabbed a few notes and encourage you to listen to the replay or join us live next week on Clubhouse.

1. 🎡 Take the Wheel: You don't need a GPS for success. Just walk up and ask customers to sell. It's as simple as changing the oil and might close 20% of your deals.

2. 🧘‍♂️ Stay in Your Lane: Focus on appraisals and high-margin vehicles. Whether trade-ins or private-party acquisitions, find your route and drive it as you stole it!

3. 👨‍🔧 Service Lane Pit Stop: Service lane utilization is your secret weapon. Get those older cars that need a touch-up and make 'em shine again.

4. 😎 Be a Smooth Operator: From manual to digital, track those channels like a hawk eyeing a convertible. Please don't get lost in the data traffic; keep it sleek and strategic.

5. 🍋 Don't Be a Lemon: Want more sales? Leave that business card and keep the door open. You never know when your next hot rod is just a call away.

6. 🚢 Cruise Control with Tools: Use tools like Van to grease the wheels and streamline your acquisitions. It's like having a pit crew in your pocket.

7. 🌊 Ride the Equity Wave: Those pandemic leases? They're your low-hanging fruit, ripe and ready for the picking. Surf that equity for a juicy deal.

8. 🤏 Big Deals in Small Places: Who says size matters? Proper structuring allows a small operation to still wheel in 150 to 200 cars a month.

9. 🤘 Put the Pedal to the Metal with Leases: Target those lease buyers like a drag racer at the starting line. They're primed to trade, and it's your race to win.

10. 🙅‍♀️ No Backseat Drivers: Your team needs commitment from the top down. Get everyone behind the wheel, and you'll cruise to success.

As always, these insights are only passing through the ASOTU team. The combined wisdom, boldness, and action of retail auto professionals from across the country and multiple generations pushes the industry forward. So if you have a tip we missed, let us know. We are all ears. 👂👂🌽👂👂 

/Positivity

We love sharing the stories of dealers partnering with their communities. If you have a story like that, send it our way!

TOGETHER WITH DEALERSHIP GROWTH BLUEPRINT

Talk Is Cheap

Second Generation Dealer Todd Caputo has had enough 😤

He’s hearing the talk of getting ‘back to basics’ but not seeing that advice get results for Dealers. Now he’s doing something about it by sharing the Dealership Growth Blueprint that was at the center of his success as a Dealer.

Todd joined forces with Paul J Daly and Congruent to offer this 8 week fast-track course, coaching, and community for Dealership leaders who are ready for more than talk. This blueprint is for those ready to grow. Topics and start date are here.

AROUND THE ASOTU-VERSE

#Shecanics @ ASOTU CON

The industry is full of people pushing back and making a difference. One such visionary is our friend Patrice Banks. Her work with Girls Auto Clinic shows that the service department has room for women, and women have a place in the technician profession.

We’re looking forward to hearing more from Patrice at ASOTU CON in September as one of our mainstage speakers.

Follow us on LinkedIn for all things ASOTU!

Got Your Ticket Yet?

DATA & INSIGHT

Minority-Owned Rooftops Surge

The industry witnessed its most significant increase in minority-owned dealerships since 2012, with 110 new stores added in 2022. This is the first time in over a decade that the count rose by triple digits for two consecutive years. Automotive News spoke about the occasion with NAMAD's talented vice chair and Damon Lester.

Leaders in Growth:

• Stellantis: Added 32 minority-owned stores

• General Motors (GM): Added 26

• Ford: Increased by 19 stores

• Nissan: Added 17

The number of minority dealerships now stands at 1,476, roughly 9% of U.S. franchised dealerships.

Praise and Challenges: Stellantis praised the National Association of Minority Automobile Dealers and other organizations for support. Ongoing challenges include access to capital and the importance of maintaining these gains.

GM's Commitment: "GM is very proud of our accomplishments with the Minority Dealer Development Program," emphasizing dedication to reflecting the communities they serve.

CULTURE

Robo Taxis Go 24/7

California regulators have approved the operation of 24/7 driverless taxis by Cruise and Waymo in San Francisco.

• Cruise & Waymo can now charge fares for autonomous rides citywide.

• First Responders and other critics cited instances of driverless cars obstructing emergency units, raising safety concerns.

• Proponents pointed to the safety records of Cruise and Waymo, with no fatalities or life-threatening injuries reported.

• This landmark decision ushers in a new era, allowing autonomous ride-hailing services to compete with taxis and ride-hail platforms.

Quick Hits

• Zoom says it won’t listen to your calls to train its AI. 🤖

• Last Voyage Of The Demeter brings in $750K in opening night. 🧛‍♂️

• Russia launched its first moon mission in 47 years. 🚀

History

• 1893: France becomes the first country to introduce motor vehicle registration.📝

• 1909: First motorized event at Indianapolis Motor Speedway. 🏎

• 1945: President Truman announced Japan had accepted terms for unconditional surrender following the second nuclear bomb on Nagasaki on August 9. 🏳