Chris Slaydon

The Vital Role of Franchise New Car Dealers in Texas Franchise new car dealers are the lifeblood of the Texas economy, playing a pivotal role in employment, economic growth, and tax contributions at every level – local, regional, and statewide. Let’s delve into the profound impact that dealers make. North Texas With 215 franchise dealers, North Texas stands as a powerhouse in the automotive industry. New Car dealers employ over 30,000 individuals, providing stable, well-paying jobs that support families and communities. The economic activity generated by these dealerships is staggering, with $18 billion in sales annually. This robust economic engine translates into significant tax contributions, with $1.2 billion in sales tax being funneled back into local and state coffers, funding vital public services and infrastructure. State of Texas Expanding the scope to the entire state, Texas is home to 1,340 franchise dealers. These dealers collectively employ over 150,000 people, making the automotive retail sector one of the largest employers in the state. The sheer volume of economic activity generated is immense, with $106 billion in sales each year. This translates into an extraordinary $6.8 billion in sales tax revenue, making franchise new car dealers the number one providers of sales tax in Texas. These funds are critical for supporting education, healthcare, transportation, and other essential services that benefit all Texans. Nationwide Impact Now, imagine these contributions replicated across all 50 states. Franchise new car dealers nationwide provide millions of jobs, contribute billions in sales, and generate substantial tax revenues that are crucial for the economic health and development of the entire country. These dealerships are not just places to buy cars; they are pillars of local economies and indispensable components of the national economic framework. Conclusion Franchise new car dealers are more than just businesses; they are vital economic engines that drive prosperity and development. Their contributions to employment and tax revenue are unmatched, ensuring the growth and sustainability of our communities. As we celebrate their impact in Texas, let's recognize the indispensable role they play across the United States. 🚗 _____________________________ 🚨By sharing this post, you can spread awareness of the crucial contributions made by franchise new car dealers and highlight our significance in building a prosperous future for our communities and nation. Thank you!🚨 #automobiledealers #autodealers #tada #nada #autonews #automotivenews #autoindustry #TexasAutoIndustry #EconomicImpact #FranchiseDealers #JobCreation #SalesTaxContributors #CommunityGrowth #AutomotiveEconomy #NorthTexasDealers #StatewideImpact #NationwideBenefits National Automobile Dealers Association (NADA) North Texas Automobile Dealers

76

5 Comments

🔌 **Electric Vehicle Market Insights for Dealers** 🔌 I talk to a lot of dealers about the current state of the EV market and it’s very interesting how it breaks down. Here’s a what im currently hearing: -New EV is struggling with increased market days supply. -High Floorplan cost and curtailments are added to that. -Dealers are being forced to take inventory that they don’t want. Navigating these challenges can be tough, but fear not! Here are three practical tips to help boost EV sales at your dealership: 👉 **Tip #1: Eliminate All Negative EV Talk In Your Showroom** Customers can feel your people’s energy. Stand out in the crowded market with this innovative strategy as your competitors are not. Consider hosting EV test-driving events, creating engaging social media content focusing on sustainability, or partnering with local eco-friendly businesses to cross-promote your EVs. 👉 **Tip #2: Educate Your Team and Customers** Knowledge is power! Train your staff thoroughly on the benefits and features of EVs. Offer workshops or info-sessions for customers to increase their comfort level and interest in making the shift to electric. 👉 **Tip #3: Leverage Government Incentives** Many regions offer incentives for EV purchases, such as tax rebates or grants. Make sure your team is up-to-date on these benefits and communicates them effectively to potential buyers. Highlighting these incentives can significantly lower the perceived cost barriers for your customers. The EV landscape is evolving, and staying adaptable and informed will be key to your success. Keep pushing forward, and let's drive towards a greener future together! 🌱🚗 Like it or not, it’s not going away. #EVSales #SustainableTransport #TheEVPlug

5

8 Comments

It's way worse than I thought... Yesterday, after my announcement about Auto Auction Review .com, my phone exploded with texts and calls. Dealer friends from across the USA and Canada reached out, each one with a current arbitration issue. It became clear that this isn’t just a problem.....it’s a widespread epidemic that we've all silently accepted and dealt with....FOR DECADES This is bigger than I ever imagined.... We have a real chance to make a difference in the industry we all love so much. And that’s exhilarating. At its core, Auto Auction Review .com is about advocating for what’s right. It's about ... -Removing favoritism based on volumes or conversion rates and sticking to what's just. -By placing the highest importance on quality CR's and sticking to them By following the rules they themselves made. The irony here is striking. Although this initiative stems from the rampant misuse of power by auctions, it could ultimately elevate them from villains back to diplomats. Auctions should be neutral ground, where buyers and sellers trust that transactions are fair and impartial. That’s why they choose to go through an auction in the first place. To YOU, the individual dealer reading this... YOU have a voice. Unfortunately, on your own, nobody’s going to hear it. But get together with 10,000 of your brothers, and we can create some lasting change. Our service is free to you. The advocacy is free to you. It will always be free to you We’re building this platform out of our own pockets. Eventually, we’ll monetize through sponsors and other channels, but for you, it will ALWAYS BE FREE. Your contribution? Participate. Share your stories. We need your voice to be part of this movement. Register today at Auto Auction Review .com and be part of something that’s going to reshape our industry. A RE-POST ♻️ IS ALSO A WAY TO CONTRIBUTE....IF YOU BELIEVE #AutoAuctionReview #FairPractices #AutomotiveIndustry #Dealers #Transparency #Accountability #Change

23

19 Comments

Manager at a Franchise Dealership?? You should accept a few things Good , Bad and Ugly...... 1. The Good--If you've been in the car business in the same community for 5 years or more...you're an influencer. (It's your biggest asset) 2. The Bad-- You've probably done nothing to take advantage of the influence you've built 3. The UGLY--Your dealership would cut you loose in a second if it added the their bottom line. They have likely already considered it. You create your own security. No one is coming to save you. Have you taken some steps to prepare? ________ Interested in more insights, "Manorisms" and free resources to help you excel? Scroll up to my name on this post to find the link to my personal brand website. There, you'll find exclusive content, valuable freebies, and learn how I can support you in your journey. Explore more about me and discover all the ways we can work together.

11

5 Comments

Still deciding on if your company should go to car show activations in 2024? Let me share my thoughts & you can let me know if you agree in the comments! #1 - It's not the cheapest. Vendor booths continue to exceed sq. ft. cost of SEMA which is often seen as the benchmark of event costs ($24-$39 per sq. ft). Flipside of this is acquisition costs for new product awareness or lead generation have their highest conversion & lowest costs at places like shows and events. - Example: Our Riverside 9 CPL was only $.11 and ROI on full expenditure was $2.20 including staff. #2 - Seriously, it's a hot audience. Car events see some of the best conversions for data gathering & general awareness because people WANT to be there. That excitement translates to a much lower barrier of entry to learn about a brand, product, or sharing an email. Most people who disagree here typically have a pretty uh...boring activation plan. #3 - Not for out-of-industry brands. Problem is most brands aren't running an event activation team anymore. Because of rising costs, seeing ROI has gotten tough and the justification is "we don't see sales." But we do, and seeing that value comes down to tracking the numbers and keeping costs down. It's hard to find a better place to get people to care about your brand especially in the automotive field. While some people have cut the strategy entirely, our humble Midwestern opinion is that there's value in partnering with a team that can represent you at these shows and that's exactly what we've started to do. Tracing ROI back through sign ups, activations, or simply sales has become a bit of second nature to us, and as people who LOVE this industry, we carry these brands as our own throughout the weekend. But what're your thoughts? Overpriced or just right?

43

11 Comments

This Texas Ford Store saw a 66% average monthly net profit increase AND 19% ELR growth from 2022 to 2023! 📈 This consistent growth demonstrates the power of optimizing operations marketing and culture. . We provided the tools and knowledge to boost efficiency, retention and customer pay. Now their team is performing at the next level! 🏆 If you want to rapidly improve your dealership’s ELR, service efficiency and advisor performance, let’s talk! 🗓 Our team of experts can evaluate your operations and build a custom plan to drive results. Transform your key metrics and level up success next year! Comment below to get started.

18

2 Comments

Use our AI Software to dominate your social media content campaigns! #lifeinsuranceagent #travelagent #networkmarketing #houston #LeadGeneration #DigitalMarketing #Entrepreneur #buyeragent #newyork #Sanantonio #miami #dallas #realestateagent #realestatelife #realestate #saas #smma #B2B #lifeinsurance #travel #leads #biz #affiliatemarketing #Digitalpreneur #travorium #ContentMarketing

1

Just released: Automotive News Top 100 Used Dealership Groups (2024). The top 10 dealership groups sold 1,649,106 used vehicles in 2023, or 51.3 percent of the top 100 groups' total sales figures. Collectively, the top 100 groups sold 3,215,702 used vehicles in 2023, up 0.1 percent. See the results: https://lnkd.in/eC5qccm2

1

One of the coolest things we get to do for dealers is our Free Statement Analysis. What could we find on your statements? GREAT QUESTION! Here are a few examples: $1148.52 charge in ONE month for not having an EMV Chip Reader! $24.95 Compliance Program Fee AND $79.95 Non-Compliance Program Fee on same statement! In SMALL print: "10 basis points rate increase… If you continue to process, you agree to this rate increase" #WhatsOnYourStatement? #SmallPrint #ConfusingByDesign #FreeAnalysis #DealerMerchantServices

10

How much time is spent verifying and seeing that the TRANSFER of insurance happens on your car deals? Do you expose your sales folks (and your dealership) by having them handle consumer documents? How many deals get hung or lost over insurance? We are F&I's and the sales reps best friend. A simple 60 second process takes care of everything. And we do mean simple. To learn more please email ken@gather.technology or message me right here on LinkedIn. Make this one less headache to live with. #insurancetransfer #insuranceverification #identityverification #automotive #dealerships

6

1 Comment

So I got a flurry of emails yesterday regarding a compliance alert that NADA sent out. Yay for sending it out to make dealers aware. Half a yay for also letting people know more than half way down that all of the usual overtime exemptions for auto are still in place. (Sales, Part Counter, Service Advisor, technicians--(not LUBE TECHS), & employees who qualify for the 7i exemption) Wage & Hour can be tricky....and this is about OT exempt or not exempt. My first advice is to take a deep breath. Then pull a report of any employees who are paid on a "salary" basis. Then you want to make sure that these employees fit into one of the "white collar" exemptions for overtime. One of the most common misconceptions is that if you pay someone a salary you don't have to pay them OT. Their actual job ALSO needs to fit into one of the exemptions. This isn't likely to effect dealerships MUCH....by that I do NOT mean that you shouldn't do a wage & hour audit and see what you might need to prepare for or where you might not be exactly compliant. My last advice is to call me or Courtney Leyes for help.

16

2 Comments

With a stabilizing market across San Antonio and Austin areas, @JKuper answers his most asked question: What is happening with home values, and how should I prepare myself to enter this market? For Sellers: Work with an agent to price your property in the proper price range and prepare it for sale. For Buyers: Lowball offers are no longer applicable when properties receive multiple offers. As always, use a reputable Kuper Sotheby's International Realty agent for buyer and seller representation to ensure you get the best deal for your property.

32

Another "Yeah, I said it" Cold Hard Truth Car People today (all positions) focus on making the most of the leads that are given to them. In this market that will translate to dependance on... -How strong your Store/Group is (do they get desirable inventory) -How strong your UCM is (does he get the right money for trades) -How strong the BDC is (do they set up the leads correctly) -How effective your vendors are (do they deliver what they promise) Basically you will be reduced to selling on price and your livelihood will depend on someone else doing their jobs well (they have also probably become Covid fat also) Instead you should focus on -Building your own Brand -Cultivating Relationships -Creating your own Leads -Working your existing Book Those self gen leads will walk through the showroom doors asking for you and will be more than halfway home already Wanna dominate in the new market...Regardless of your position Become an Autopreneur and create your own opportunities. ________ Interested in more insights, "Manorisms" and free resources to help you excel? Scroll up to my name on this post to find the link to my personal brand website. There, you'll find exclusive content, valuable freebies, and learn how I can support you in your journey. Explore more about me and discover all the ways we can work together.

12

1 Comment

🚨👇🏻🚨 Number 2 is the problem AutoFi is solving for dealers all over the country! Digital Retail (DR) is only a part of the solution - it’s how many shoppers want to START their buying journey to understand the numbers and speed up time at the store…But the real magic, well that happens in the showroom! But wait, you can’t use online retail tools in the SHOWROOM, can you?? Why, yes. Yes you can…and the results our stores are seeing are almost too good to be true. Almost. Let me show you how to sell MORE cars FASTER, give away less gross, and drive up your CSI scores. And we have the data to back it up.

14

Part 2: Private Party Looking for a local deal, I started out like most buyers in this channel with Craigslist. What a mess! This unregulated platform had a host of issues: ·     Vehicle information is inconsistent or absent ·     Gratuitous use of keywords by dealers creates results for vehicles you aren’t interested in ·     Many dealers only list monthly payment &/or down payment. You have to search for the actual price (if listed at all). This also breaks the pricing filters in the search ·     The best deals I found were from non-responsive sellers. I sent at least a dozen emails that went  unanswered ·     Many dealers don’t include “mandatory” useless installed features at absurd markups in their listed price. $3,000 was a common added price for VIN etching, GPS anti-theft hardware and clear coat finish. These predominantly non-franchise dealers left me with the icky feeling many buyers associate with shady sales tactics and poor experiences with car dealers I eventually  found my private party seller via a major vehicle listings platform. The discovery process was very smooth and efficient. The VIN was prominently displayed for me to validate valuation and vehicle history via Black Book valuation tools. The platform offered a straightforward communication portal with the seller. This was no doubt to keep everyone within the platform, but also added security and peace of mind as a buyer. This platform offered a service to facilitate the sale, title transfer, taxes, etc. The fee was reasonable ($100 for our vehicle). This service also included lienholder payoff (big bonus for buyer peace of mind), but that was not needed for this particular sale. The transaction itself via the platform was less than ideal. After meeting the buyer nearly an hour from my home, agreeing to a price, test driving, etc. the escrow officer told me it would take an hour of more to complete the transaction. There was little to no documentation outlining the process, timing or paperwork necessary to complete the transaction. The sale was also on a Saturday and they had limited staff on the weekends. 🤔 It also took a month for them to send me the paperwork (I just got it yesterday). On top of this all, the seller claimed he “couldn’t get his money” and hired legal representation to take action against the service. 😬 All in all, great shopping experience on this platform but poor sales process, mainly due to sloppy logistics. If I buy private party again, I’d be interested to try PrivateAuto who offers similar services without the delays I experienced from a convoluted escrow process. For the car itself… we got a great deal on a 5yo hybrid compact SUV for my 16 year old. It was a bit thrashed but a day of father/son detailing had it front line ready and looking sharp. Price was ~25% lower than comparable vehicles on dealer lots! And no, Sean McNamara and Chris Marshall, I won’t tell you what model car I bought this time either! 🤐

13

1 Comment

Combating Automotive Retail Scams or C.A.R.S. FTC rule. Consumers love it, lenders will make money either way, and dealers HATE it. National dealer groups and the State of Texas dealer group are currently suing the FTC. Why do they hate it? In 2022 the FTC proposed the most challenging rules to the dealership industry; it's the Dodd-Frank for dealerships. Here's what the FTC is proposing: • Bans on all products like, nitrogen in tires, additional warranties, or insurances that provide no additional benefit to buyers. • Any add-ons must be itemized and displayed on all online listing • Bans on misleading pricing advertising. A buyer must be able to purchase the vehicle at the price listed online minus taxes, registration, and title. • Disclose in writing the Cash Price without Optional Add-ons if a buyer were to decline all optional add-ons when purchasing a car. These rules disrupt dealers' high-profit F&I centers. Dealers argue that complying with these regulations adds additional costs to consumers. As a dealer, there will be added time and cost. But this is the pushback we receive when shady dealer owners and hard-selling F&I managers take advantage of consumers for decades. I believe these changes are fair. I think they're protecting some dealers from themselves which are facing a lot of disruption from online competitors and EV startups that don't leverage a franchise model. Car buying has ranked as the worst consumer buying experience in the US and has for some time. If we don't provide a better experience for consumers, then the government or market will force us to. So this is a step in the right direction. https://lnkd.in/gCq4G4rA

2

WAY TOO MUCH TOO SOON....35% pop in share price for Carvana. https://lnkd.in/gin6z9fk "Carvana’s net income included a roughly $75 million gain in the fair value of Carvana’s warrants to acquire Root Inc. ". Still plenty of work to do as its competitive "moat" has pretty much disappeared. That said, kudos to CEO Ernie Garcia and his turnaround strategy and execution so far. Great performance! Still way too much debt and other headwinds including ramp up of franchised dealer group e-commerce business and other. We are pulling for Carvana and respect what the company has accomplished but stock is WAY overvalued at the present time for the intrinsic risk associated. Vroom, CarMax, Lithia & Driveway, AutoNation, Penske Automotive Group. #automotive #automotiveindustry #sales #innovation #ecommerce #branding #ai #ev #electricvehicles #technology #business #leadership #disruptor

5