Welcome to the Car Dealership Guy Podcast. In this episode, I'm speaking with Todd Sands, Senior Vice President at CNA National where we discuss: The secret "profit" weapon of car dealerships, The arrival of $300/hr labor rates, Some of the biggest risks insuring EVs, the undisputed champion of catalytic converter theft and much more.
This episode of the Car Dealership Guy Podcast is brought to you by:
CDK Global - Empowering dealers with the tools and technology to build deeper customer relationships.
Learn more @ https://www.cdkglobal.com/dealership-xperience-platform
Upstart - Upstart connects millions of consumers to 100+ banks and credit unions who leverage Upstart’s artificial intelligence models and cloud applications to deliver superior credit products. Their platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar “relief” loans. Learn more @ https://www.upstart.com/
CNA National - Automotive Solutions for your peace of mind. CNA National has been committed to providing automobile dealers and their customers with the finest programs and the highest level of service for more than 40 years. Learn more @ https://www.cnanational.com/
Car Dealership Guy Industry Job Board - Connecting world-class talent with top-notch companies in Automotive. Find your next role—or start hiring today—at CDGJobs.com.
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Topics:
(00:00:00) - Intro
(00:02:08) - Todd’s career and background
(00:05:52) - What are dealers targeting on back-end profit today?
(00:06:34) - What separates the 2k and the 3k dealerships?
(00:08:22) - What do you focus on at CNA?
(00:09:54) - Do you see geographical differences in customer behaviors?
(00:11:56) - What does the product mix look like in the market right now?
(00:16:28) - What is the state of reinsurance in the industry?
(00:21:38) - What are you seeing as the average loss ratios right now?
(00:26:14) - How are you navigating increases in labor rates?
(00:28:30) - How are you approaching EVs from an insurance perspective?
(00:36:09) - What questions are you hearing often from your dealer partners across the country?
(00:38:51) - What’s your outlook for the industry over the next few years?
Check out CNA National here.
Check out the website for more (https://dealershipguy.com) and follow me on X @GuyDealership! (https://x.com/guydealership)
This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.
#82 Solving the car theft epidemic, 1,000,000+ stolen last year, How theft is impacting auto insurance, Brands not at risk of vehicle theft? | Melissa High, Vice President of LoJack
#81 Chairman of Hyundai Dealer Council speaks out, Selling 6,000+ cars in one county, Behind the scenes of Hyundai/Amazon partnership, Do dealers and car makers still need eachother? | Andrew Wright,
#80 Building the dealership of the future, Selling 30K cars per year, Why AI isn't working today, Future of Carvana | Jeremy Beaver, CEO of Del Grande Dealer Group (DGDG)
#79 CDG Market Update: Can leasing save the car business, $25,000 Teslas, Negative equity crushing new car sales | Jessica Caldwell, Head of Insights at Edmunds and Gen Balouev, General Manager of Nor
#78 Building the “Amazon” of car shipping, Dirty secrets of the $70B vehicle logistics industry, Saving dealers millions with faster car transportation | Royce Neubauer, CEO of Auto Hauler Exchang
#76 Scaling a $4.5B dealership empire, Future of the franchise model, The "15-minute" car sale | David Hult, CEO of Asbury Automotive Group
#75 Best service center in America, Profit pendulum swings again, Can dealers make more money without consumers paying for it? | Jim Roche, CEO of WarrCloud
#74 Can Hyundai challenge Toyota, Leaving $8M on the table, Selling cars on Amazon | Andrew DiFeo, Managing Partner of Hyundai of St. Augustine
#73 The man who guides 3,800+ finance departments, What keeps him up at night, AI in the car biz, Future of the Finance Manager | Scott Gunnell, President of JM&A group
#72 Biggest sleeper brand in automotive, Selling dealerships for $100M+, Most improving automakers, F-150 Lightning a flop? | Alan Haig, President of Haig Partners
#71 Building a winning Toyota store from scratch, Selling 1,200 cars on a "slow" month, Trailblazing as a female dealer principal | Julie Herrera, President of IDEA Auto Group
#70 How AI will fix the broken credit system, Is 40% of US overpaying for car loans, Blowing an engine at 24H Le Mans | Alex Rouse, VP, GM Auto at Upstart
#69 Disruption of digital advertising, His $1B dealership marketing playbook, Unlocking the secrets of a car shoppers mind | Ron Andrews, VP of Business Development at Cars Commerce
#68 CDG Market Update: Will used car prices rise again, Best and worst selling cars, Hybrids domination, A.I. chatbots selling cars | Jessica Caldwell, Head of Insights at Edmunds, and Kevin Frye, eCo
#67 Former NADA Chairman shaping the car business, When will Chinese cars come to US, Will FTC ruling cost consumers and industry $35B? | Geoff Pohanka, Chairman of Pohanka Automotive Group
#66 Becoming the world's most famous car salesman, Getting 60M+ monthly views on TikTok/IG, How much money he makes from content, His big announcement | RussFlipsWhips, Automotive Content Creator
#65 How luxury dealerships make money, Selling a Lamborghini for Bitcoin, His net worth, Biggest wins and losses | CJ Wilson, Owner and GM of Porsche Fresno
#64 Selling $200M/yr of used cars, Losing money on every car but still profiting, Can he succeed where other dealerships have failed? | Eli Hanna, Dealer Principal of Hanna Cars
#63 Crushing 70M+ vehicle recalls, From infantry officer to chief executive officer, Technology fatigue in the car business | Ryan Maher, CEO of BizzyCar
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