High Octane
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HIGH OCTANE is a podcast from the Virginia Automobile Dealers Association, offering rich insights and information about the automotive industry in the Commonwealth of Virginia. Join VADA staff and members for behind-the-scenes accounts of our efforts in the legislature, regulatory, and industry worlds, and stay equipped with everything you need to know to be a successful and competitive automotive dealer in Virginia.
Available episodes
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Oldest first
Feb 17, 2021
VADA's new GM and Williamsburg's Art Hudgins
In our latest episode, you'll get to know Aris Woolfolk, VADA's new General Manager, along with the man who happens to be her father: Art Hudgins, longtime owner of Holiday Chevrolet Cadillac in Williamsburg, which was sold in December to Loyalty Automotive.
The duo talk about working "in the trenches" of COVID restrictions and the sales/service environment, the future of EV and innovations, and Art's long-held belief that "Service sells cars."
Nov 16, 2020
Dealership hiring trends in 2021 and beyond
Hireology's Mike McSherry talks with us about hiring in the era of COVID-19 and the evolution of recruiting the best talent and onboarding (quickly) going forward.
Hireology is an endorsed VADA Program Partner and is built for dealerships to attract top applicants, hire the best ones, and onboard them quickly.
Learn more: www.hireology.com
Nov 9, 2020
Leaving $ on the table? An overview of retail warranty reimbursement
Are you leaving money on the table when it comes to reimbursement on warranty parts and labor?
A Retail Warranty Reimbursement law was put in place in Virginia in 1998 and entitles dealers to full retail warranty reimbursement from manufacturers on parts and labor. (Before the law, and even today, many dealers only receive the standard 40% markup or MSRP.)
Legislation in 46 states (and counting) entitles automotive dealers to be reimbursed by manufacturers for warranty work at retail, which is actually the dealer’s customer “repair” rate. However, complex state statutes, manufacturer protocols and pressures, gatekeepers, and limited internal resources are just a few of the challenges that make receiving full retail warranty reimbursement difficult for automotive dealerships.
We talk today to VADA partner Armatus Dealer Uplift Managing Member Joe Jankowski. Armatus brings almost $100,000 a year in parts gross and $65,000 in additional labor gross, on average, to dealers nationwide. They handle the entire retail warranty process with no upfront fees – and they don’t get paid until you do.
Learn more about Armatus: https://dealeruplift.com
Oct 15, 2020
Maj Saboura of Manheim on inventory and current best practices
Get frontline insights from Maj Saboura, a longtime industry veteran and senior director at Manheim. Majd talks inventory in the used, retail, and wholesale markets and gives listeners and viewers insights on how the company is becoming more "digital first" as the world changes.
Majd also offers three best practices in these "roller coaster" times:
1. Balance your Portfolio. Look at your inventory and turn and find out what is getting bites and sales. Get your money back into the market and rebalance your portfolio to find cars and trucks that will make you money.
2. Be Frugal. If you're selling 100 automobiles a month, stock 150, not 250. Be careful how you tie up capital in your vehicles.
3. Be Smart. Leverage technology to get eyeballs on the vehicle. The more eyes, the more chances you have to sell it.
Manheim is North America’s leading provider of vehicle remarketing services, connecting buyers and sellers to the largest wholesale used vehicle marketplace and most extensive auction network. Through 125 traditional and mobile auction sites and a robust digital marketplace, the company helps dealer and commercial clients achieve business results by providing innovative end-to-end inventory solutions. Approximately 18,000 employees enable Manheim to register about 8 million used vehicles per year, facilitate transactions representing nearly $57 billion in value and generate annual revenues of more than $2.6 billion.
Manheim also operates the Manheim Express app. More than just a dealer-to-dealer network, Manheim Express delivers extreme efficiency to buyers and sellers when they need it the most. Sellers can list vehicles within minutes using revolutionary 360-degree imaging and get a Guaranteed First Bid™, while buyers can access fresh, local inventory via the new in-app buyer experience. Whether you create the listings yourself or use the Manheim Express Concierge service for a hands-off approach, selling upstream and dealer-direct is quick and easy with Manheim Express.
Manheim Express is an endorsed VADA Partners Program.
Sep 8, 2020
Dealers and Virginia's workplace safety requirements
We talk with VADA's legal and legislative affairs team on Virginia's COVID-19 workplace safety requirements, the first such state-level requirements in the nation. They are formally known as the Emergency Temporary Standard, or ETS.
Resources:
- VADA's ETS webpage: https://vada.com/ets/
- ETS Checklist for dealers, prepared by VADA: https://vada.com/wp-content/uploads/2020/08/VADA_ETS-Checklist_August-2020_4a.pdf
- FAQs: https://vada.com/wp-content/uploads/2020/07/7.23.2020.ETS-Rev-7.29.pdf
Aug 27, 2020
DHG’s Buddy Dearman on Dealers: ‘The Epitome of Optimism’
“Dealers are the epitome of optimism. It’s one of the reasons I live working with them.”
So says Buddy Dearman, a VADA friend and managing partner of DHG Dealerships. The Memphis, Tenn. accounting firm has more than 160 professionals overseeing various accounting and financial services for 3,000+ auto dealership rooftops nationwide.
In this episode, Buddy gives franchised dealer leaders unique insights on the state of the PPP loan forgiveness process, PPP tax implications, and his thoughts on inventory and the U.S. presidential elections.
Buddy has more than 30 years of experience working with dealerships and their owners, and focuses primarily on all aspects of tax planning and structuring with medium and large dealership groups.
Aug 12, 2020
Rising, Evolving, and Impacting Together with Glenn Lundy
Glenn Lundy has had "two seasons" in the automotive retail business, one with a slow-growth dealership that had numerous retention and operational issues, while the second half of his career was spent with a small dealer in a small town of Paris, Ky.. At that store, he helped grow from selling 120 cars a month to ultimately 1,043 cars in 27 business days. The store became the second largest used-car franchise dealership in the nation.
A longtime friend of VADA, Glenn Lundy is a "husband to one, father to seven" (going on eight), an auto industry expert and consultant, and host of the inspirational #RiseandGrind online morning show.
Glenn talks with VADA GM Jason Wilson about how you can "Rise every day with intention and purpose" to be the best version of yourself and make an impact in others' lives.
* Connect to Glenn
* Check out the #RiseandGrind show
You can join Glenn every Monday through Friday at 5:30 am Eastern on Facebook @OfficialGlennLundy.
Aug 4, 2020
‘Evolution, not Revolution:’ Glenn Mercer on Industry Future
Automotive News calls Glenn Mercer “The auto industry expert dealers want to hear from,” and today, Virginia dealers and others can hear directly from the longtime friend of NADA and VADA.
Glenn is the author of 2017’s “The Dealership of Tomorrow: 2025,” which provided a comprehensive view of what automotive retailing would look like to franchised dealers, consumers and manufacturers in 2025. Among other things, Mercer was one of the first to predict an "evolution not a revolution" of the dealership business model in spite of wild pronouncements about disruptive technologies and behaviors that “promised” to blow up everything we knew about personal vehicle ownership.
His followup, Dealership of Tomorrow 2.0, came out in February 2020, and it’s safe to say things have mightily changed since then. A version 2.5 is coming soon to incorporate the permanent and accelerated changes to the industry due to COVID-19. Glenn talks with VADA General Manager Jason Wilson on what we can expect from 2.5 as well as the long-discussed “carpocalypse” of EVs and autonomous vehicles.
Get The Dealership of Tomorrow 2.0: nada.org/dealershipoftomorrow/
Jul 17, 2020
Cory Mosley: speaker, coach, car guy
Cory L. Mosley joins VADA's High Octane to talk culture and equity in the Workplace.
Cory is a Certified Speaking Professional and an award-winning consultant to entrepreneurs, small business owners, and major corporations (including a Fortune 10).
A retail "car guy" and entrepreneur, Cory is founder and chief strategist of Mosley Automotive LLC, a nationally recognized automotive training and consulting company founded and run by . Regularly referred to nationally as "Mosley Automotive," the company was founded in 2004 and was one of the early boutique training and consulting companies established to focus solely on Internet sales.
Cory also helps business owners and companies that want to thrive in the new economy by giving them strategies to increase sales, build fanatical teams, and future-proof their business.
Learn more: corymosley.com
You can also watch this interview on our Vimeo page at Vimeo.com/teamvada.
Jun 25, 2020
VADA Virtual Convention: Sandy Schwartz
2020 has been challenging for his company and dealers, says Cox Automotive CEO Sandy Schwartz. But that hasn't stopped the company from pressing forward and evolving.
This moment should cause dealers to listen to consumers' expectations for how cars are bought and sold, and continue with these innovations long after the pandemic passes. Despite the challenges they have faced, "we should never take for granted the human spirit of auto dealers," Schwartz says.
In addition to outlining his concerns on people's health and the overall economy, Schwartz discusses how his own company has recalibrated its offerings in COVID and evolved its product line to keep sales afloat.
It's all part of what Schwartz and Cox call "The Way Forward" to see what will be necessary to thrive post-pandemic. "The goal is the same as it has always been: to sell more cars, more efficiently than ever before," he says. "And our pledge to help you do that has never been stronger."
Jun 24, 2020
VADA Virtual Convention: Kerri Wise
Business is back and we're on an upward trajectory. That's the line from Kerri Wise of TrueCar, a digital marketplace for both new and used cars. Listen to Kerri's insights on the market from her perspective, with her pulse on the national marketplace for cars.
TrueCar, Inc. (Nasdaq: TRUE) exists to create a world where shopping for a car is uplifting. Our digital automotive marketplace helps car shoppers consider choices from every angle—all with a clear view of what’s a great deal. We show you price ratings for new and used cars. We provide this information so you can feel confident in the upfront, discounted price you’ll pay at the dealership. If you need a fast and easy way to trade in your car, you can get a cash offer in minutes. Our national network of Certified Dealers shares our belief that truth, transparency and fairness are the foundation of a great car buying experience. As part of our marketplace, TrueCar powers car-buying programs for over 250 leading brands, incl…
Jun 23, 2020
VADA Virtual Convention: Kevin Tynan
Bloomberg senior automotive analyst Kevin Tynan talks economic recovery and the future of the automotive industry with VADA GM Jason Wilson. This is a MUST LISTEN/MUST WATCH episode for every dealer in Virginia.
Kevin was set to speak at VADA’s Annual Convention this month, but with the event canceled, we decided to have Kevin and other panelists offer their insights and analysis via our High Octane podcast. Kevin has also committed to our 2021 event at the Omni Homestead in Hot Springs, Va.
Special appearance by Farrah Fawcett.
Connect with Kevin on LinkedIn.
Jun 22, 2020
VADA Virtual Convention: Jones Loflin on Leading and Changing Amid Uncertainty
Jones Loflin calls this time a "beautiful opportunity" for all business leaders about how to thrive in a time of uncomfortable uncertainty. This is a must-listen motivational interview for any business leader - not simply an auto dealer - to create a stronger team and organization in a new future.
Show notes:
- Learn more about Jones: www.jonesloflin.com
May 19, 2020
How one dealer partner is adapting to the new normal
VADA GM Jason Wilson talks to MOC Mid-Atlantic President Jeremy Kimsey on how the company, a partner to dealers across the Atlantic seaboard, is adapting to changes in dealerships caused by COVID-19.
The Powhatan-based company offers two core and complementary services: on the consulting side, MOC helps uncover opportunities that drive increased sales and revenue. On the operational side, the family owned MOC is a one-stop resource for supplies and materials needed to open and run a dealership every day. Those supplies include cleaning agents and protective equipment, such as masks and gloves.
Jeremy talks about how MOC has adapted to the new normal, and cautions dealers on what to look for when buying disinfecting materials to ensure the vehicle is safe for one's health and the interior/exterior materials. Jeremy also shares his own insights on what the future may hold for our industry — including the need to bring more manufacturing of important equipment and chemicals back to Am…
May 11, 2020
On the frontline for Virginia dealership advocacy
We talk to Tommy Lukish, VADA's Legislative and Legal Affairs Manager, who brings us the latest on both state and federal guidance for reopening our economy. Tommy also covers new IRS guidance for Paycheck Protection Program (PPP) loans, and insights on how VADA has adjusted and continues to press forward with government relations in the Virginia General Assembly when lawmakers meet in socially distant ways.
See what Executive Order 61 means for your dealership.
For more:
* VADA's Coronavirus Resource Center at www.vada.com/coronavirus
* PPP/IRS guidance summary from Dixon Hughes Goodman: https://www.dhg.com/article/irs-notice-2020-32-clarifies-deductibility-of-expenses-related-to-ppp-loans
* Email Tommy at tlukish@vada.com
May 7, 2020
Progressive and Aggressive: Harrisonburg dealer posts record April sales
Earlier this month, Dealer Principal Jake Sodikoff posted on LinkedIn that his Harrisonburg, Va. Nissan store posted a new April store record — and came within 5 units of an all-time volume high. It's an impressive feat, considering April, by many industry analyses, may be considered rock bottom for 2020 car sales.
In early 2020, Sodikoff, a VADA Board member and the association’s NextGen Director, initiated a plan to focus more on online sales and home delivery — and when the pandemic hit, that plan paid off. April was Steven Nissan's record for the three Aprils it has been in business.
Sodikoff also attributes success to "a change in mindset," he says. "We were willing to do anything and everything to sell a car." Home deliveries constituted 30% of the dealership's April sales, with paperwork done, literally, on the hood of the new or pre-owned car.
In our latest episode of High Octane:
- Learn Jake's keys to success in online sales/home delivery
- Hear about how he manage…
Apr 28, 2020
Dealers respond and innovate in COVID
Though we're unable to access our VADA HQ podcast recording studio, that doesn't stop us from getting creative and bringing important information to our dealers — this time, through a Zoom video call.
VADA General Manager Jason Wilson hops on Zoom to talk with VADA's communications partner Jeff Kelley. Jason offers insights from his numerous discussions with dealers around Virginia in recent weeks. With the coronavirus pandemic lockdowns now in their seventh week, are dealers seeing sales and service volumes starting to rebound? What are dealership leaders doing to take care of employees? And how are dealers innovating with new offerings — and will these innovations last?
Show notes:
* For the latest on dealer impacts to the coronavirus, visit www.vada.com/coronavirus
* For the Cox Automotive sales report discussed in this episode, visit: www.vada.com/blog/2020/04/28/april-will-see-historic-lows-for-auto-sales-with-silver-lining/
* For the latest VADA survey results (from…
Feb 17, 2020
Crossover in Richmond (Part 2)
We continue our discussion around Crossover in the General Assembly. Don, Anne, and Tommy talk vehicle emission standards, peer-to-peer vehicle sharing, general business legislation — and HB 595, a fun bill sponsored by Del. Jeff Bourne that authorizes DMV to issue speciality plates as dealer tags to Virginia's licensed dealers.
* Listen to Part 1
* Get the latest Capitol Briefs, looking at all VADA-tracked legislation in the 2020 session
Feb 13, 2020
Crossover in Richmond (Part 1)
Midway through the General Assembly, legislators swap House bills to the Senate and vice versa. Tommy talks to Don and Anne on how session has gone thus far, with 1,664 pieces of legislation (out of more than 3,200) still pending.
Of those bills, a handful are related to auto dealers...and many more related to general industry.
Get the inside scoop from your VADA lobbyists on the latest dealer-dealings at the Virginia statehouse.
Jan 28, 2020
Cybersecurity and Your Dealership
Today we talk to Michael Allen, VADA's Chief Information officer and General Manager of VADA Group Self-Insurance.
Many businesses don't consider cybersecurity a problem...until it becomes a huge problem — and potentially one that can cost a dealership hundreds of thousands of dollars to fix and a major disruption to operations. Michael is our in-house cybersecurity specialist and talks to Tommy about cyber cases dealers have seen around the U.S. — and the steps you can take to guard against cyber invasions.
Learn how to protect your dealership and why dealerships are vulnerable — and what to do if you've been hit.
Have questions on cybersecurity or cybersecurity insurance? Email Michael.
Have an idea for a show? Want to be ON High Octane? Email Tommy.
Jan 14, 2020
Virginia State Police Special Agent Peter Lazear
There's been a rash of auto thefts at dealerships and dealer-owned facilities across Virginia.
In our latest episode, we were honored to have as a guest the Virginia State Police's Special Agent Peter Lazear to discuss the VSP's HEAT (Help Eliminate Auto Theft) program and how it is helping combat auto theft across the Commonwealth.
Also on the show: former state trooper and retired Virginia senator Senator Bill Carrico, now a field rep for VADA. Thanks as always to VADA's Tommy Lukish for hosting.
Show notes:
- More on the HEAT program, including a recap of our December event with the state police
- VSP's HEAT on Facebook
- Register for Dealer Day at the Capitol on January 22. Your fellow dealers are attending...are you?
Jan 7, 2020
Talking to Rick Gallaer, VADA's Legislative Chair
We talk to Rick Gallaer, our longtime legislative chairman, on the importance of getting involved in the Virginia General Assembly, which kicks off on Jan. 8 and runs for 60 days in Richmond. You'll learn about the issues car dealers face in this year's session, and pick up a few lessons from Rick.
Rick is a longtime dealer in Virginia, and president of Pomoco Chrysler Jeep Dodge of Newport News.
* Learn more about Rick, the 2015 TIME Dealer of the Year.
* Join us for Dealer Day at the Capitol (formerly Assault the Hill) on January 22. Registration is free.
Dec 6, 2019
VADA and the Virginia Legislature
Welcome to the inaugural HIGH OCTANE podcast from the Virginia Automobile Dealers Association.
In this episode, you'll join Tommy Lukish, VADA’s legal and legislative affairs director, along with president and CEO Don Hall and chief in-house counsel Anne Gambardella, as they discuss the impacts of Election Day in Virginia and what dealers can expect in the 2020 General Assembly.
Have show ideas? Want to be a guest? Email us! Contact Jason Wilson at jwilson@vada.com.