#498 - 🌱 Nurturing Beats Hiring

TOGETHER WITH

Do you know we read every reply to this email and its poll(s)?

Don’t let us do all the talking in this partnership! Hit reply and let us know what you like, want, need, or things we should dig into for future emails.

Chris and Kristi are literally waiting by the inbox with an arsenal of GIFs, memes, and emojis at the ready. 🧑‍💻👩‍💻

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

TODAY’S LOT WALK

• MTCM: Canada, Cars, Kids, Exercise. 🍁

• Data & Insight: Supported Team = Supportive Team. 💪

• Culture: JCPenney Invests a JCDime. 🤑

Reading time: 4 mins and 48 secs

MORE THAN CARS MOMENTS

Investing In Wellness!

We can call it several things: community engagement, charity events, partnering with the neighborhood. But essentially, when dealers get involved, they are investing in people today, tomorrow, and every day after that. 💙🌋

This story from Canada's Tony Graham Auto Group is such a perfect example of doing good for those within our reach that we wanted to celebrate. Of course, if any of our other dealer friends get some inspiration, that's just a bonus. 😉

Thanks to a partnership between the Tony Graham team and the City of Ottawa, 13 to 17-year-old residents of the city were given access to weight and cardio workout spaces at nearly 20 locations. 🏋️🏃‍♀️🚴‍♂️

In a Summer of record heat, many young people learned the benefits of regular exercise with the guidance and safety of professionals thanks to Tony Graham's team seeing the opportunity to give and having the generosity to back it up. 🥵😎

DATA & INSIGHT

Mentorship Magic

For top dealership managers and execs in the industry, building a crew is about more than just hiring quality talent; it's about nurturing a team so that everyone wins. Let's break down some of the secrets to building a healthy squad:

🗣️ Support Open Communication

• Be a trusted advisor: Open doors and one-on-ones foster honest dialogue.

• Ditch the annual reviews: Real-time feedback helps refine skills and highlight wins.

🌟 Provide Personalized Guidance

• Know your team: Customize opportunities to strengths and passions.

• Map it out: Develop personalized growth plans so teammates can spread their roots.

👯 Lead by Example

• Walk the talk: Actions > words.

• Share the journey: Lessons from the trenches build trust.

• Balance is key: Manageable workloads and expectations = happy and loyal team.

💞 Cultivate a Sense of Belonging

• Value individuals: Show genuine interest in their lives. Make it a point to remember spouse/children/pet names and important events.

• Celebrate milestones: Birthdays and anniversaries matter.

• Team bonding: Social events can fuel morale, but be mindful of interest levels and schedules. It should be an enjoyable experience for everyone!

📚 Promote Continuous Learning

• Sharing is caring: Empower team members to educate others.

• Stay curious: There's always more to learn.

TOGETHER WITH FOUNDATION DIRECT

Real-Time Saves Real Time

The same old process produces the same old results. Waiting a month between performance reviews with your collaborators, partners, and vendors misses process-enhancing information that real-time data and insights would catch every time.

Our friends at Foundation Direct have over 50 years of collective Google experience and know how to use data to get results. They have advised every OEM on digital best practices, keynoting major industry events, authoring Google's Dealer Guidebooks, and running Google's Path to Purchase Research Studies.

With their guidance, Dealers across brands and markets achieve unmatched precision while planning their next move.

Check out Foundation Direct now and start every decision with data-backed confidence!

AROUND THE ASOTU-VERSE

One Evening, Two Days, and a Morning

From Monday’s “Welcome Reception” to Thursday’s “Farewell Coffee,” the agenda for ASOTU CON 2023 is PACKED. 🥊

Keynotes to take to the bank, sessions to bring out your potential, and networking that will create relationships to last the rest of your career. There is something valuable for each and every person who calls the automotive industry home!

BUSINESS

Chinese Automaker Update

🇩🇪 While European automakers want to claim, keep, and gain ground in China, the Chinese companies are hoping to expand into Europe. Already in 2023, Chinese brands make up 8% of new EV sales across Europe (up from 6% in 2022). While expansion is a primary goal, collaboration with existing European companies is also on many of China's automotive leader's minds. 🧑‍🤝‍🧑

• Xpeng 🚗🗺️🇨🇳

  • Unveiled new models and ambitions at Munich's IAA auto show.

  • They have formed strategic partnerships with Volkswagen to bolster scale, branding, and investments.

  • They have confirmed plans to enter the German market in 2024, expanding their presence in Norway, Sweden, Denmark, and the Netherlands.

• BYD 🦭🔋💰

  • They revealed their new Seal electric sedan.

  • Renowned investor Warren Buffett backs it.

  • Chairman, Wang Chuanfu, emphasizes the need for collaboration with German automakers to boost green transport.

• Leapmotor 🗓️⏳🏈

  • Set to introduce the C10 sports utility vehicle to European markets in 2024.

• Wan Gang, the 'father of EVs' in China, speaks on the importance of international collaboration for advancements in EV tech, such as enhanced batteries and intelligent driving systems.

• Challenges for Chinese firms include:

  • Building brand recognition in Europe.

  • Handling competition from global giants, e.g., Tesla.

⚡️🤺👯‍♀️ As Europe pivots more toward EVs, Chinese automakers are preparing to both rival and work together with European automakers.

CULTURE

You Down Wit JCP?

JCPenney is stepping into the spotlight with a bold $1B investment to revamp its customer experience and streamline operations. But forget about fawning after new customers, this iconic brand is going all-in on serving its loyal core base.

JCPenney's CEO, Marc Rosen says they want to cater to who their customers are — budget-conscious, middle-income shoppers looking for affordable fashion and housewares. 👠👕🪴🫖

Sorry, influencers. Instead of chasing trends and appealing to the wealthy and young, JCP is focusing on what they do best: offering lower prices than rivals while delivering top-notch service that outshines online sellers. 🌟

Paul and Kyle reminded us on yesterday’s episode of The Automotive Troublemaker, that there is a valuable lesson here for retail auto, too. Just like JCPenney, many dealerships have a community of dedicated customers who already love them. Instead of constantly hunting for new customers, consider opportunities to provide more to the ones who already know and trust you.

Another easy peasy way to build your base? Straight up ask your customers what they want! Whether it's online or in-store, encourage feedback from clients and tailor your shopping experience to those preferences. Building your business around community instead of industry trends will provide the best chance of securing those coveted lifetime patrons. ❤️‍🔥

Quick Hits

• A new study by Mozilla found that 25 car brands’ privacy standards were not up to snuff ahead of the connected car era. 🕵️‍♀️

• Chicken Run, the highest-grossing stop-motion film of all time, is getting a sequel 23 years after the original. 🐓

• Chuck E. Cheese is giving away 500 free parties to kids on Sept. 7th (ahead of Sept. 9th, the most common birthday). 🍕🐀🎰

History

• 1813: The United States is nicknamed “Uncle Sam.” 🫵

• 1927: The first fully electronic television system is achieved by Philo Farnsworth. 📺

• 2008: The US government takes control of Fannie Mae and Freddie Mac. 💰