Tag: Main Episode

Guest Expert: Jimmy Douglas, Founder of Plug, joins Jade Terreberry to break down the evolving landscape of electric vehicles (EVs) and what it means for dealers today. From shifting consumer use cases to the impact of tariffs and the growing opportunity in used EVs, Jimmy shares practical insights on how dealers can better position themselves in the EV market. He also emphasizes the importance of hands-on education for dealership staff and how e-commerce is uniquely aligned with EV buyers.

Key Takeaways:
EV Use Cases Are Expanding: EVs are no longer just for early adopters—improved affordability and utility are making them viable for a broader range of consumers.

Tariffs Could Boost Used EV Values: New vehicle tariffs may lift used EV values, helping buyers with negative equity re-enter the market.

Used EV Market Opportunity: Dealers should not shy away from used EVs, especially with tax credits and brand-loyal, tech-savvy buyers entering frequent trade cycles.

E-Commerce and EVs Align: EV buyers are more likely to complete purchases online, making digital retailing a key growth area.
Sales Staff Must Be EV-Confident: Dealerships should prioritize hands-on EV experience for their teams to build confidence and improve customer education.

Timestamp:

0:00 – 0:31 Introduction
Jade Terreberry introduces the podcast and welcomes guest Jimmy Douglas, Founder of Plug, highlighting his recent panel on EV utility and use cases.

0:31 – 2:09 EV Misconceptions and Use Cases
Jimmy discusses common anti-EV arguments and explains how EVs are ideal for specific use cases like commuting, while the affordability and utility gap between EVs and ICE vehicles continues to close.

2:09 – 3:31 EV Affordability and Infrastructure Improvements
Jimmy highlights how improved range, better charging infrastructure, and narrowing price gaps are making EVs more practical for a wider audience.

3:31 – 4:43 Tariffs and Used EV Value
Jimmy explains how tariffs on new vehicles could lift used EV values, helping buyers with negative equity re-enter the market and encouraging more trade-ins.

4:43 – 5:34 EV Buyer Behavior and Trade Cycles
Discussion on how EV buyers are brand-loyal, treat vehicles like tech upgrades, and tend to trade more frequently than traditional buyers.

5:34 – 6:11 New EV Buyer Segments
Jimmy shares how affordability is bringing in new buyer segments, including rideshare drivers and those using alternative financing options.

6:11 – 7:14 EVs and E-Commerce Alignment
Jade and Jimmy discuss how EV buyers are more likely to complete purchases online, making e-commerce a strong fit for this segment.

7:14 – 8:17 Education for First-Time EV Buyers
Jimmy emphasizes the need for dealership staff to confidently educate first-time EV buyers on charging, ownership, and maintenance differences.

8:17 – 9:27 Building Sales Team Confidence
Jade and Jimmy agree that dealerships should send staff home in EVs to build firsthand experience and confidence in selling them.

9:27 – 10:47 Real-World EV Experience Matters
Jimmy shares a personal story about driving a Cybertruck and how extended use helped him fully appreciate its features—reinforcing the need for immersive staff training.

10:47 – 11:02 Closing Remarks
Jade wraps up the episode, thanking Jimmy for his insights and encouraging dealers to stay ahead of EV trends for a more successful road forward.

Guest Expert: Eric Brown, Founder of inSearchX, joins Jade Terreberry at the AIS NRC Conference to discuss the transformative role of AI in the automotive industry. Eric shares insights on how AI-driven tools like Ask Auto are revolutionizing the consumer-dealer interaction by removing friction from the car buying process, enhancing real-time communication, and significantly improving lead conversion rates.

Guest Expert:
Eric Brown
Founder
inSearchX

Key Takeaways:
AI-Driven Communication: Learn how AI tools like Ask Auto facilitate real-time communication between consumers and dealerships, reducing the need for manual follow-ups.

Enhanced Lead Conversion: Discover the impressive increase in lead conversion rates, with an 8X lift in connections and a 40X greater connection rate compared to traditional lead forms.

Reducing Friction: Understand how AI removes friction from the car buying process, making it easier for consumers to connect with dealerships and enhancing the overall sales experience.

Voice of the Customer: Explore the importance of using dialogue data to align dealership content with customer needs and improve the quality of interactions.

Adapting to Market Changes: Gain insights into how dealerships can use AI to adapt to market changes, such as the impact of tariffs, and make data-driven decisions.

Timestamp:
0:00 – 0:31 Introduction
Jade Terreberry introduces the podcast and the guest, Eric Brown, Founder of inSearchX.

0:31 – 1:16 Guest Introduction
Eric Brown is welcomed to the podcast, and Jade highlights the relevance of the topic.

1:16 – 3:12 Role of AI in Automotive
Eric explains how AI tools like Ask Auto are transforming the consumer-dealer interaction.

3:12 – 4:32 Real-Time Communication
Discussion on the benefits of real-time communication facilitated by AI.

4:32 – 6:09 Enhanced Lead Conversion
Eric shares data on the significant increase in lead conversion rates using AI.

6:09 – 8:33 Reducing Friction in the Buying Process
Eric discusses how AI removes friction from the car buying process, improving the sales experience.

8:33 – 10:06 Voice of the Customer
Exploration of the importance of using dialogue data to improve dealership content and interactions.

10:06 – 11:11 Adapting to Market Changes
Eric provides insights on how dealerships can use AI to adapt to market changes and make data-driven decisions.

11:11 – 12:34 Closing Remarks
Jade wraps up the episode, thanking Eric for his insights and encouraging listeners to subscribe for future episodes.

Expert Guest: Bill Zadeits, President of Cherokee Media Group and host of the hit AutoRemarketing Podcast, joins Jade Terreberry at the AIS NRC Conference to discuss the current state of the automotive industry amidst the recent tariff announcements, sharing his insights on the unpredictable nature of the situtation, the potential impact on new and used car markets, and the need for cautious steps and strategic responses to navigate these times.

Guest:
Bill Zadeitz
President of Cherokee Media Group
Host of the AutoRemarketing Podcast

Key Takeaways:

Unpredictable Information: Understand the challenges posed by the constantly changing information regarding tariffs and their impact on the automotive industry.

Impact on New and Used Car Markets: Learn about the potential tightness in new car supply and the opportunities in the used car market due to increased repossessed car supply.

Real-Time Data Utilization: Discover the importance of using real-time data to make strategic decisions and capitalize on current market dynamics.

Cautious and Strategic Responses: Explore the need for cautious steps and strategic responses to navigate the unpredictable economic landscape.

Business Intelligence: Gain insights into the role of business intelligence in understanding market trends and making informed decisions.

Timestamp:
0:00 – 0:31 Introduction
Jade Terreberry introduces the podcast and the guest, Bill Zadeits, President of Cherokee Media Group.

0:31 – 1:16 Guest Introduction
Bill Zadeits is welcomed to the podcast, and Jade highlights his expertise and the timely relevance of the topic.

1:16 – 3:12 Significance of Tariff Announcements
Bill explains the recent tariff announcements and their broader scope than initially expected.

3:12 – 4:32 Immediate Market Impact
Discussion on the immediate effects of tariffs on sales pace and wholesale pricing.

4:32 – 6:09 Recession Risks
A discussion on the potential for a recession and the varying impacts on different stakeholders.

6:09 – 8:33 Data-Driven Decision Making
Emphasizing the importance of using real-time data to navigate the uncertain economic landscape.

8:33 – 10:06 Diversifying Revenue Streams
Discussion on strategies for dealers to diversify their revenue streams and mitigate risks.

10:06 – 11:11 Local Market Variations
Highlighting the importance of understanding local market variations and tailoring strategies accordingly.

11:11 – 12:34 Closing Remarks
Jade wraps up the episode, thanking Bill for his insights and encouraging listeners to subscribe for future episodes.

Expert Guest: Jonathan Smoke, SVP Chief Economist at Cox Automotive, joins Jade Terreberry at the AIS NRC Conference where he was presented an award, to discuss the current trending economic shifts and situations as well as providing insights into the recent tariff announcements, the potential for a recession, and strategies for dealers and OEMs to navigate these uncertain times using real-time data and diversified revenue streams.

Guest:
Jonathan Smoke
SVP Chief Economic Advisor
Cox Automotive

Key Takeaways:

Impact of Tariffs: Understand the recent tariff announcements and their immediate effects on the automotive market, including changes in sales pace and wholesale pricing.

Recession Risks: Learn about the potential for a recession and how it could affect different stakeholders in the automotive industry.

Data-Driven Decision Making: Discover the importance of using real-time data to make informed decisions and adapt to rapidly changing market conditions.

Diversifying Revenue Streams: Explore strategies for dealers to diversify their revenue streams and mitigate risks associated with economic fluctuations.

Local Market Variations: Gain insights into how different local markets may be impacted differently by economic changes and the importance of tailored strategies.

Timestamp:
0:00 – 0:31 Introduction
Jade Terreberry introduces the podcast and the guest, Jonathan Smoke, Chief Economist at Cox Automotive.

0:31 – 1:16 Guest Introduction
Jonathan Smoke is welcomed to the podcast, and Jade highlights the relevance of the topic.

1:16 – 3:12 Significance of Tariff Announcements
Jonathan explains the recent tariff announcements and their broader scope than initially expected.

3:12 – 4:32 Immediate Market Impact
Discussion on the immediate effects of tariffs on sales pace and wholesale pricing.

4:32 – 6:09 Recession Risks
Jonathan discusses the potential for a recession and the varying impacts on different stakeholders.

6:09 – 8:33 Data-Driven Decision Making
Jonathan emphasizes the importance of using real-time data to navigate the uncertain economic landscape.

8:33 – 10:06 Diversifying Revenue Streams
Discussion on strategies for dealers to diversify their revenue streams and mitigate risks.

10:06 – 11:11 Local Market Variations
Jonathan highlights the importance of understanding local market variations and tailoring strategies accordingly.

11:11 – 12:34 Closing Remarks
Jade wraps up the episode, thanking Jonathan for his insights and encouraging listeners to subscribe for future episodes.

Guest Expert: Isabelle Helms, VP of Research and Market Intelligence at Cox Automotive, joins Jade Terreberry to discuss the transformative changes in the automotive industry over the past 15 years. Isabelle shares insights and a look back at her team’s 15 years of work tracking buyer behaviors, highlighting key trends, missed predictions, and future opportunities for dealers to enhance the consumer experience and leverage emerging patterns.

Key Takeaways:

• Evolution of Consumer Behavior: Understand how consumer shopping habits have shifted from offline to online, with significant increases in smartphone usage and online lead submissions, as well as where we are headed.
• Omni-Channel Shopping: Learn about the growing importance of providing a seamless omni-channel experience, bridging the gap between online and in-person dealership interactions.
• Impact of AI and Data: Discover the role of artificial intelligence and accurate data in improving dealership operations and consumer satisfaction, including a look back and where we are today.
• Missed Predictions: Explore trends that did not gain traction, such as transportation as a service and autonomous vehicles, and the impact of COVID-19 on these predictions.
• Future Opportunities: Gain insights into upcoming opportunities for dealers based on consumer study results, including enhancing online capabilities, integrating data sources, and embracing AI to improve efficiencies.

Timestamp:
0:00 – 0:33 Introduction
Jade Terreberry introduces the podcast and the guest, Isabelle Helms, VP of Research and Market Intelligence at Cox Automotive and sets the stage for today’s episode.

0:33 – 1:47 Guest Introduction
Isabelle Helms is welcomed to the podcast, and Jade highlights her impressive career and contributions to Cox Automotive.

1:47 – 3:31 Significance of the 15-Year Milestone
Isabelle discusses the evolution of the Car Buyer Journey Study and its importance in understanding consumer behavior and preferences.

3:31 – 5:11 Key Findings Overview
Jade and Isabelle highlight the transformative changes in consumer behavior and the proactive steps dealers are taking to meet consumer demands.

5:11 – 8:13 First Key Finding: Shopping and Dealership Experience
Isabelle shares insights on the increased use of smartphones for car shopping and the significant drop in unannounced dealership visits.

8:13 – 8:37 Impact on Dealers and Manufacturers
Jade emphasizes the positive impact of increased buyer satisfaction on dealers and manufacturers and maps out opportunities.

8:37 – 11:37 Second Key Finding: Increased Shopping Time Isabelle discusses how buyers are spending more time shopping due to increased inventory and the empowerment of consumers to make informed decisions.

11:37 – 13:09 Third Key Finding: Omni-Channel Experience Isabelle explains the alignment between new and used buyers in terms of conducting more of their transactions online and the importance of a seamless omni-channel experience.

13:09 – 14:28 Fourth Key Finding: Service Retention
Isabelle shares that 82% of new buyers are likely to return to the dealership for vehicle servicing, emphasizing the importance of introducing consumers to the service department during the sales process.

14:28 – 15:31 Continuous Improvement in Dealership Experience
Isabelle advises dealers to focus on continuously improving the dealership experience by reducing wait times, lowering sales pressure, and providing the right tools for consumers to complete steps online.

15:31 – 16:12 Sneak Peek of Upcoming Research
Isabelle gives a sneak peek into upcoming consumer research, highlighting positive emotions associated with the dealership experience and areas for improvement.

16:12 – 18:18 Future Opportunities for Dealers
Isabelle discusses the importance of embracing AI, integrating data sources, and refining the online purchase process to prepare for future opportunities.

18:18 – 19:58 Common Theme Across Studies
Isabelle reflects on the constant change in the automotive industry and the importance of staying ahead by taking action based on research insights.

19:58 – 21:37 Closing Remarks
Jade wraps up the episode, thanking Isabelle for her insights and encouraging listeners to subscribe for future episodes and exclusive content.

Guest Expert: Trent Thacker, Senior Director of Research and Market Intelligence with Cox Automotive is featured in our Special Report episode, where he shares

About our Guest:

Trent Thacker

Senior Director of Research and Market Intelligence

Cox Automotive

Key Takeaways:

• Increased Tax Refunds: Learn how the average tax refund amount has increased by 5% year-over-year, presenting significant opportunities for vehicle purchases.
• Consumer Spending Plans: Understand the spending intentions of consumers, with 75% planning to purchase a vehicle within the next five months.
• Impact of Tariffs: Discover how the recent announcement of tariffs is expediting the vehicle purchase cycle and influencing consumer behavior.
• Service and Maintenance Opportunities: Explore the potential for increased service and maintenance revenue, with many consumers planning to use their tax refunds for vehicle upkeep.
• Vehicle Segments in Demand: Gain insights into the most sought-after vehicle segments, including SUVs, crossovers, and sedans.

Timestamp:

0:00 – 0:31 Introduction
Host Jade Terreberry introduces the podcast and the guest, Trent Thacker, Senior Director of Research and Market Intelligence at Cox Automotive and why this episode is so important.

0:31 – 1:16 Guest Introduction Trent Thacker is welcomed to the podcast, and Jade highlights the relevance of the topic.

1:16 – 1:57 Significance of Tax Refund Research
Trent explains the importance of conducting tax refund research and its impact on the automotive industry.

1:57 – 3:12 Research Methodology
Trent describes how the tax refund research was conducted using Cox Automotive’s consumer community and why its data presents opportunities for dealers and service centers.

3:12 – 3:36 Average Tax Refund Increase
Trent shares that the average tax refund amount has increased by a pretty significant percentage year-over-year.

3:36 – 4:32 Consumer Filing Trends
Discussion on the timing of tax return filings and the demographic differences in filing behavior.

4:32 – 6:09 Impact of Tariffs on Consumer Behavior
Trent discusses how the announcement of tariffs is influencing consumer behavior and expediting vehicle purchases.

6:09 – 6:53 Consumer Spending Plans
Trent shares insights on what consumers plan to spend their tax refunds on, including vehicle purchases.

6:53 – 8:33 Vehicle Purchase Intentions
Discussion on the timing and amount consumers plan to spend on vehicle purchases.

8:33 – 10:06 Vehicle Segments in Demand
Trent highlights the most sought-after vehicle segments among consumers.

10:06 – 11:11 Service and Maintenance Spending
Trent discusses the potential for increased service and maintenance revenue from tax refunds.

11:11 – 12:34 Opportunities for Dealers
Jade and Trent emphasize the importance of leveraging tax refunds for both vehicle sales and service opportunities.

12:34 – 13:47 Key Recommendation for Dealers
Trent advises dealers to focus on both vehicle sales and service opportunities to maximize revenue and to market to the increased return numbers.

13:47 – 14:23 Closing Remarks
Jade wraps up the episode, thanking Trent for his insights and encouraging listeners to view the full research results.

14:23 – 15:10 Bonus Resource Items
Jade announces the tax return infographic and Care Buyer Journey study will be available in show resources.

15:10 – 16:04 Final Thoughts
Jade thanks the audience for tuning in and encourages them to subscribe for future episodes.

Guest Expert: Elizabeth Stegall, Senior Director of Retention for Autotrader and Kelley Blue Book is featured as our first guest in the Myth Busters series, where she shares her thoughts on gaps in your CRM, debunks myths around them and shares actionable new ways to leverage data to make better marketing decisions with the accurate and complete information to improve dealership performance.

About Our Guest:

Elizabeth Stegall

Senior Director of Retention
Autotrader and Kelley Blue Book

Key Takeaways:

CRM Misuse and Myths: Understand why using CRM solely as an advertising management tool is ineffective, with only 11% of leads leading to a sale.

Effective Advertising Strategies: Learn how to use third-party attribution companies and click trail data to optimize advertising spend and improve ROI.

Consumer Journey Insights: Gain insights into the non-linear and multi-source nature of the consumer journey to purchase.

Importance of Marketplaces: Understand the true value of third-party marketplaces like Autotrader and Kelley Blue Book in driving low-funnel transactions.

Improving Dealer Engagement: Hear new strategies to increase consumer engagement and address blind spots in dealership operations.

Timestamps:

0:00 – 0:29 Introduction
Host Jade Terreberry introduces the episode and the importance of Myth Busters

0:29 – 2:32 Guest Introduction and Series Overview
Jade introduces Elizabeth Stegall and discusses the new Myth Busters series.

2:32 – 3:07 Myth Introduction
Elizabeth introduces the myth about using CRM as an advertising management tool.

3:07 – 3:54 Better Advertising Management
Elizabeth explains better ways to manage advertising beyond CRM.

3:54 – 7:09 Sales Funnel and Consumer Journey
Discussion on understanding the sales funnel and consumer journey.

7:09 – 8:03 Data Insights from Clairvoy
Insights from Clairvoy’s data on transactions and lead attribution.

8:03 – 9:02 Lead Attribution
Statistics Percentage of transactions with proper lead attribution.

9:02 – 11:12 Dealership Performance Comparison
Comparison of dealership performance and the impact on advertising effectiveness.

11:12 – 11:39 Final Thoughts and Advice
Elizabeth provides final thoughts and advice on improving advertising effectiveness.

11:39 – 12:56 Conclusion and Wrap-Up
Jade wraps up the episode and thanks Elizabeth and the listeners.

Guest Expert: Jeff Flak, Director of Sales Effectiveness at Autotrader and Kelley Blue Book, shares insights and the advantages you can gain when leverage real-time data analytics to drive smarter business decisions such as enhanced customer satisfaction, boosted profitability. You’ll hear the new ways working to effectively manage dealership operations using nVision and other dashboards that help you make smarter spend decisions.

About Our Guest:

Jeff Flak

Director of Sales Effectiveness
Autotrader and Kelley Blue Book

Key Takeaways:

Real-Time Data Utilization: Hear how dashboards and tools like nVision provide real-time analytics to help dealers make quicker, more strategic decisions and the advantages when you use them to drive actions.

Market Share Analysis: Learn the importance of analyzing market share and how it can reveal opportunities to improve performance.

Enhanced Customer Experience: Understand how using data can create a seamless and transparent buying process, leading to higher customer satisfaction and better close rates, and the ways to do this successfully.

Operational Efficiency: Explore how different roles within a dealership can leverage nVision data to manage inventory, leads, and overall dealership operations more effectively.

Accountability and Adoption: Gain insights into how to drive adoption of real-time data tools within your organization and measure success through key performance indicators.

Timestamps
0:00 – 1:00
Introduction
Jade Terreberry and Jeff Flak discuss the main topic of the podcast.

1:00 – 2:29
Guest Introduction
Jade introduces Jeff Flak, Director of Sales Effectiveness at Autotrader and Kelley Blue Book, and highlights his previous appearance on the podcast.

2:29 – 3:16
Purpose of nVision
Jeff explains the purpose of nVision and its importance in providing real-time analytics to help dealers make informed decisions.

3:16 – 4:51
Connecting the Dots with Data
Jeff discusses how looking at your real-time data and dashboards like nVision help dealers connect the dots with data and make strategic decisions.

4:51 – 7:03
Benefits of Real-Time Data
Jade and Jeff talk about the benefits of using real-time data and its impact on dealership performance.

7:03 – 8:24
Cultural Shift in Dealerships
Discussion on the cultural shift needed in dealerships to adopt real-time data tools and what actions to take.

8:24 – 11:05
Effective Use Examples of nVision Data
Jeff provides examples of how different roles in a dealership can use reporting, data and the actions it tells you to take

11:05 – 12:44
Alignment and Common Goals
Discussion on the alignment and common goals achieved through a smarter spend strategy

12:44 – 13:57
Virtual Lot Performance
Jade and Jeff discuss the importance of virtual lot performance and its impact on physical lot sales – it’s your best indicator of what will happen.

13:57 – 16:13
Enhancing Customer Experience
Jeff explains the importance of enhancing the customer experience and ways to improve close rates.

16:13 – 18:49
Driving Adoption and Measuring Success
Final discussion on driving adoption of real-time data tools and measuring success within dealerships.

Guest Expert: Vanessa Ton, Senior Manager of Research and Market Intelligence gives listeners and viewers a behind-the-scenes look at the 15th annual Car Buyer Journey Study results, highlighting key consumer trends and shifted behaviors, the growing importance of a seamless omni-channel experience, and actionable strategies for dealers to improve customer satisfaction and drive more business.

About Our Guest:

Vanessa Ton

Senior Manager of Research and Market Intelligence

Cox Automotive

Key Takeaways:

High Satisfaction with Dealership Experience: New car buyers’ satisfaction with the dealership experience has reached an all-time high of 81%, driven by improved inventory levels and smoother transitions from online to in-person interactions. But there are still things you can do to gain more market share which Jade and Vanessa discuss and map out.

Increased Shopping Time: Buyers are spending more time shopping due to increased inventory, with new buyers spending almost two hours more and used buyers spending about 30 minutes more. Despite the longer shopping time, satisfaction remains high as consumers feel empowered to research and make informed decisions. Find out the reasons why.

Omni-Channel Experience Alignment: Both new and used car buyers are increasingly conducting more of their transactions online. The key is to providing a connected omni-channel experience that allows consumers to do as much or as little online as they prefer is crucial for meeting their expectations, and this episodes outlines why and how to do this for increased sales and satisfaction.

Service Retention Opportunities: Results indicated 82% of new car buyers are likely to return to the dealership for vehicle servicing, both Jade and Vanessa map out ways to highlight your service department with a focus on building long-term relationships to drive more fixed operations revenue.

Continuous Improvement in Dealership Experience: Discussions around the practical ways Dealers can focus on continuously improving the dealership experience and providing the right tools for consumers to complete steps online before visiting the dealership to capture enhanced leads which are more likely to close.

Timestamps:
0:00 – 0:39
Introduction
Jade Terreberry introduces the podcast and the guest, Vanessa Ton, Senior Manager of Research and Market Intelligence at Cox Automotive.

0:39 – 1:45
Guest Introduction
Vanessa Ton is welcomed back to the podcast, and Jade congratulates her on the 15th anniversary of the annual Car Buyer Journey Study.

1:45 – 3:41
Significance of the 15-Year Milestone
Vanessa explains the evolution of the Car Buyer Journey Study and its importance in understanding consumer behavior and preferences in the automotive industry.

3:41 – 4:35
Key Findings Overview
Jade and Vanessa discuss the significance of the study’s findings, highlighting the stabilization in consumer behavior and the proactive steps dealers are taking to meet consumer demands.

4:35 – 7:38
First Key Finding: Shopping and Dealership Experience
Vanessa shares that the shopping experience for new car buyers is at an all-time high, with 81% satisfaction. She explains the reasons behind this, including improved inventory levels and smoother transitions from online to in-person experiences.

7:38 – 8:14
Impact on Dealers and Manufacturers
Jade emphasizes the positive impact of increased buyer satisfaction on dealers and manufacturers, highlighting the importance of meeting and exceeding consumer expectations.

8:14 – 10:31
Second Key Finding: Increased Shopping Time
Vanessa discusses how buyers are spending more time shopping due to increased inventory, with new buyers spending almost two hours more and used buyers spending about 30 minutes more. Despite the longer shopping time, satisfaction remains high due to the empowerment of consumers to research and make informed decisions.

10:31 – 14:17
Third Key Finding: Omni-Channel Experience
Vanessa explains the alignment between new and used buyers in terms of conducting more of their transactions online. She highlights the importance of providing a connected omni-channel experience that allows consumers to do as much or as little online as they prefer.

14:17 – 15:47
Fourth Key Finding: Service Retention
Vanessa shares that 82% of new buyers are likely to return to the dealership for vehicle servicing. She emphasizes the importance of introducing consumers to the service department during the sales process to build long-term relationships and drive fixed operations revenue.

15:47 – 18:15
Continuous Improvement in Dealership Experience
Vanessa advises dealers to focus on continuously improving the dealership experience by reducing wait times, lowering sales pressure, and providing the right tools for consumers to complete steps online before visiting the dealership.

18:15 – 20:35
Closing Remarks and Webinar Announcement
Jade wraps up the episode, thanking Vanessa for her insights and encouraging listeners to register for an upcoming webinar hosted by Vanessa on Automotive News.

Guest Expert: Micah Tindor, Senior Director of Strategic Planning at Kelley Blue Book Instant Cash Offer discuss the importance of consistent appraisals, the evolving consumer expectations in the automotive industry, and the latest trends in EV adoption and battery health scores, providing actionable steps on how dealers can enhance their appraisal processes, build trust with consumers, and leverage new technologies to drive profitability.

About Our Guest:
Micah Tindor
Senior Director of Strategic Planning
Kelley Blue Book Instant Cash Offer

Key Takeaways
Consistent Appraisals for Profitability: Accurate and consistent appraisals are crucial for determining profit potential. Dealers who standardize their reconditioning process and provide consumer offer certificates can win two times more cars on average.

Building Trust Through Transparency: Transparency and trust are key to meeting evolving consumer expectations. Providing clear information and a physical certificate explaining the vehicle’s value can significantly enhance consumer confidence and satisfaction.

EV Adoption and Battery Health: With 45% of consumers considering EVs, it’s essential for dealership staff to be knowledgeable about EVs, including tax credits, total cost of ownership, and charging. Accurate appraisal of EV battery health is critical for building consumer trust.

Leveraging New Technologies: Dealers can use advanced tools and technologies to ensure accurate reconditioning estimates and provide consumers with reliable information. This approach helps streamline the appraisal process and enhances the overall customer experience.

Consumer Engagement and Differentiation: Educating consumers about new tools and metrics, such as battery health scores, can drive more value and improve the dealership’s competitive edge. Providing clear and accessibl

Timestamps:
0:00 – 0:57
Introduction
Jade Terreberry introduces the podcast and the guest, Micah Tindor, Senior Director of Strategy at Kelley Blue Book Instant Cash Offer with Cox Automotive.

0:57 – 1:49
NADA Sessions Overview
Micah shares his experience at NADA, highlighting the importance of consistent appraisals and the big releases that will be game changers for dealers.

1:49 – 3:49
Consistent Appraisals
Micah discusses the importance of consistent appraisals in determining profit potential and aligning with consumer expectations. Key takeaways include understanding consumer expectations, identifying reconditioning (recon) accurately, and providing a physical certificate for vehicle value.

3:49 – 5:57
Consumer Expectations and Trust
Jade and Micah talk about the evolving consumer expectations and the importance of transparency and trust in the appraisal process. Micah emphasizes the need for dealers to provide clear information and build trust through transparency.

5:57 – 8:40
Appraisal Consistency and Profitability
Micah explains the steps dealers can take to ensure consistent and accurate appraisals, including standardizing the reconditioning process, aligning people, process, and pay, and generating consumer offer certificates. He highlights the impact on profitability, with dealers winning two times more cars on average.

8:40 – 11:10
Enhanced Appraisal Process
Micah introduces the enhanced appraisal process, which includes the consumer offer certificate and the importance of bringing the customer along the journey. He explains how the process addresses consumer needs and provides a consistent appraisal experience.

11:10 – 12:30
EV Adoption and Battery Health
Micah and Jade discuss the trends in EV adoption, the importance of understanding tax credits, total cost of ownership, and charging. Micah emphasizes the need for dealership staff to be knowledgeable about EVs and the significance of battery health in appraisals.

12:30 – 15:01
Battery Health and Consumer Confidence
Micah explains how dealers can accurately appraise an EV battery’s health and the tools or metrics they should use to provide consumers with a reliable battery health score. He highlights the importance of battery health in consumer decision-making.

15:01 – 17:15
Kelley Blue Book and Autotrader EV Advancements
Jade and Micah discuss the initiatives by Kelley Blue Book and Autotrader to address battery health, including the introduction of battery health superlatives on listings. They emphasize the importance of educating dealers and consumers about these new tools.

17:15 – 18:33
Closing Remarks
Jade wraps up the episode, thanking Micah for sharing his insights and encouraging listeners to subscribe to the podcast for more valuable content.