Dealership
topic on 6 shows · 8 statements across 7 episodes
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8 statements about Dealership, every show
Tekion acquired its first R&D auto dealership from its very first customer
“The first dealership we acquired was the first customer. We bought it from the first customer because he was working on selling the dealership for other business reasons, and I'm glad he brought it up to us, and he's still a customer.”
Car Dealership Guy: Service department is a dealership's highest-margin profit center
“The service department is the highest margin profit center in a dealership, because, you know, for those that don't know how dealerships work, right, you have many different profit centers, you have parts, you have new car sales, used car sales, service.
Servi…”
Auto lenders profit 10% on loans while dealerships get a 1.5% fee
“And so dealerships generally get basically a lead gen fee about one and a half percent of the amount financed of the car, but the lender is making closer to 10% of the amount financed, right?”
Mark Beneke structured his father's dealership buyout using company cash flow
“The payment plan that we had set up with my dad was based off of the company itself, like, well, we fuck up his future as well. So his retirement goes down the toilet”
Popham: Most dealership salespeople earn lower commissions selling EVs
“And then for various reasons based on how commissions work, typically the salesperson on most dealerships, not all, would then get paid less.”
Popham: Utilities must align with dealership profitability to drive EV sales
“Ultimately, you're not engaging the dealerships because they're going to help you with your Austin Climate and Equity Plan or utility financial health goals or anything like that. It is, the mindset is, how can we get EVs through you to your customers? As quic…”
Olson: Dealers refusing manufacturer EV product lines are acting short-sightedly
“I mean, you don't know where it's going to go. You don't know what sort of What backing they're going to put behind it, you don't know what the consumers are going to end up wanting, and so to say I'm not going to sign up for something could be very, very shor…”