In this episode, Zach Klempf interviews Randy Kobat, VP of Inventory Management Solutions at Cox Automotive. Randy discusses the latest developments from NADA, how Upside and KBB ICO help used car dealers, as well as general discussion around inventory management.
Some of the questions asked include:
Q) So let’s get started, and for those of us listening, talk about how you got into the auto industry?
Q) You and the Cox team recently got back from NADA; what were some of the new exciting announcements from that event?
Q) Kelley Blue Book Instant Cash Offer is becoming a very popular tool for used car dealers, how are they helping dealers during the inventory shortage challenge?
Q) Another new announcement we saw was Upside from Cox for wholesale; what exactly is this product and how can it help used car dealers?
Q) Talk to me about the wholesale market dynamics and specifically how new sourcing and acquisition channels are opening up to help used car dealers find and stock vehicles more profitably?
Q) If you were running a used car dealership, what would be the essential software solutions you would have to manage everything from inventory acquisition to pricing?
Q) What do you think has been most surprising (ex. continued chip shortage) in terms of the auto industry and 2022 thus far?
Q) What are your predictions for the used car marketplace in 2022?
Q) What’s coming down the pipeline in the divisions you manage that you are most excited about (that’s relevant to used car dealers)?
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