Tag: Main Episode

Featured Guest: Nancy Dunham, Principal Analyst, Retail at WardsAutomotive gives her thoughts on the key predictions and trends for 2025, sharing what she believes dealers, as well as the industry as a whole, should be focused on in the coming year in order to not only prepare, but to be a step ahead and plan for the shifts and changes bound to happen in a post-election cycle.

Listen or Watch to this episode to hear more about the following hot topics covered in the episode:

• Predictions for 2025: The automotive market is expected to see growth in new, used, and wholesale vehicle sales. Dealers should focus on value models and certified pre-owned vehicles to attract budget-conscious consumers.
• EV Mandates and Dealer Challenges: Dealers are struggling with the current EV mandates due to insufficient infrastructure and consumer education. Crucial items are outlined for dealers to align their offerings with consumer demands and educate them about EV benefits.
• Vehicle Affordability: Affordability remains a significant concern. Hear recommendations on why Dealers should partner with lenders and use tools to help consumers understand financing options and insurance costs, emphasizing education to make vehicles more accessible.
• Consumer Satisfaction and Omni-Channel Retailing: Personalization, inventory incentives, and omni-channel retailing are key drivers of improved customer satisfaction. Dealers need to cater to diverse consumer preferences and enhance their online and in-store strategies.
• Staff Education and Technology: Why you should be educating dealership staff on the benefits of technology and AI, and the ways it can improve customer interactions and sales processes. Dealers should use technology to enhance, not replace, the human element in customer service.

ABOUT OUR GUEST:
Nancy Dunham
Principal Analyst, Retail, WardsAutomotive
Nancy Dunham is an automotive journalist with WardsAuto, serving as principal analyst for retail. Her experience includes extensive work as a managing editor, section editor, breaking news editor and public speaker. She has had pieces published in Automotive News, NADA publication, Bobit Publications, CARFAX, and US News & World.

TIME STAMPS:
0:00 – 1:00
Introduction
Jade Terreberry introduces the podcast and the guest, Nancy Dunham, Principal Analyst of Retail for Ward Automotive.

1:00 – 2:14
Guest Introduction
Nancy Dunham is introduced, and she expresses her admiration for Cox Automotive and Jonathan Smoke.

2:14 – 3:01
Post-Election Cycle
Discussion on the impact of the post-election cycle on the automotive industry, focusing on EV mandates and dealer challenges.

3:01 – 5:10
EV Mandates and Dealer Challenges
Nancy highlights the difficulties dealers face with EV mandates and the importance of infrastructure and consumer education.

5:10 – 7:06
EV Sales and Consumer Sentiment
Jade and Nancy discuss the importance of dealership staff being prepared to sell EVs and the impact of consumer sentiment on EV sales.

7:06 – 8:45
Vehicle Affordability
Nancy talks about the ongoing issue of vehicle affordability and the strategies dealers can use to address these challenges.

8:45 – 9:21
New and Used Car Sales Predictions
Predictions for new and used car sales in 2025, emphasizing the importance of education and partnership with focus.

9:21 – 11:46
Ownership Benefits and Incentives
Discussion on the importance of educating consumers about ownership benefits and available incentives.

11:46 – 12:57
EV Market Growth
Predictions for modest growth in the EV market and the importance of offering a balanced mix of vehicles.

12:57 – 14:21
Inventory Mix and Sourcing
The significance of maintaining a diverse inventory mix and sourcing high-demand vehicles.

14:21 – 15:52
Consumer Satisfaction and Omni-Channel Retailing
The rise in consumer satisfaction driven by personalization, inventory incentives, and omni-channel retailing capabilities.

15:52 – 18:03
Technology and Dealer Staff Education
The importance of using technology to enhance the dealership experience and educating staff on its benefits.

18:03 – 19:50
AI and Automation
How AI and automation can help dealers do more with the same resources and improve consumer trust and satisfaction.

19:50 – 21:25
Selling to Multiple Generations
The need for dealers to cater to five distinct generations of consumers and the importance of diverse communication strategies.

21:25 – 23:04
Top Advice for Dealers
Nancy’s top advice for dealers: Educate staff to treat consumers as valued customers and leverage community engagement.

23:04 – 24:43
Closing Remarks
Jade wraps up the episode.

Featured Guest: Jim Fitzpatrick, Co-Founder and CEO of CBT News discusses the key predictions and trends starting off the year and weighs in on how he believes dealers both big and small should prepare including what actions to take in order to have continued success, capture more profitability and identify additional opportunities on the road ahead as we move past the election and into an ever evolving market for both the automotive industry and our nation.

In her first solo episode, Host Jade Terreberry, Senior Director of Strategic Planning for Autotrader and Kelley Blue Book takes you through the key predictions Jonathan Smoke, Chief Economist for Cox Automotive released for the automotive industry and breaks down what each of them means to Dealers, including what actions they should take in response to best prepare and strategize for increased success and profitability in 2025.

Featured Guest: Mike Tegtmeyer, AVP with Autotrader and Kelley Blue Book with Cox Automotive gives an inside look and top takeaways from the new From Click to Close Learning series, hosted alongside Dealer.com, which shows dealers the five steps you need to master in order to stay competitive, stand out to your ideal customer at their very first click during the automotive consumer buyer journey and fast-track to a close.

Featured Guest: Angela Drake, Director of Research and Market Intelligence with Cox Automotive gives a behind-the-scenes look at the new findings from the Evolving Consumer Study, which took a close look at those evolving behaviors and uncovered some key finding that are important for dealers, OEMs as well as the automotive industry plan and take pro-active actions on in order to have continued success on winning the sale.

Featured Guest: Bethany Johnson, Director of Strategic Planning for vAuto live from the Used Car Week stage in Arizona, discusses highlights from her keynote sharing the five key areas Dealers should focus on in the coming year if they are looking to capture more profits, scale their business, and capitalize on incremental revenue opportunities.

Featured Guests: David Lumpkin, Senior Director of Inside Business Development, and Micah Tindor, Senior Director of Strategy for Kelley Blue Book ICO share what are likely outcomes and things dealers, and our industry need to face and prepare now that the election is over, representing a different view for Franchise, Independent, and OEMS, with a Sales and Fixed Ops perspective.

Featured Guests: Autotrader power couple, husband and wife Nathan and Christina Jordan, Client Success Managers for Autotrader & Kelley Blue Book, talk about what they’re seeing work across their top-performing clients when it comes to leads: how to stand out to your ideal customer, get the enhanced lead and convert to a close.

Featured Guest: Shaun “Niff” Kniffin, Retail Solutions Moderator and Consultant of NCM Solutions discusses the evolution of new car sales in the automotive industry over the past four years and reveals predictions for how it will change further outlining the steps dealers need to take to stay ahead of the curve in the coming year.

Featured Guests: Kirk Preiser, SVP of Business Development at LeadVantage and Micah Tindor, Sr. Director of Strategy at Kelley Blue Book ICO, share what they’re seeing across their top-performing clients when it comes to successful lead handling. Learn the many advantages of using AI, but also some of the pitfalls and how to overcome them.