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What's really happening with used car sales and inventory?
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And how one dealer is using social media to stand out and connect with customers as well as those within the industry.
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All that more coming up now on CBT Live.
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I'm Jim Fitzpatrick, and I'm joined by my partner in crime here, Bridget Fitzpatrick.
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Hello, welcome to the show.
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I hope you all had a great weekend.
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Yeah.
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So coming up, uh, we'll be joined by JC Pratt's Executive General Manager at Starling Automotives, also known as the Good GM on social media.
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And then we'll also be joined by Derek Hansen, Senior Vice President of Dealer, Lender, and Inventory Management Solutions at Cox Automotive to give us his take on the current state of used car sales and inventory heading into Q4.
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That's right.
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Before we get to those great guests, we have a few stories to go over.
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So we're going to start with the growing threat from Chinese automakers.
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You know.
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We don't talk about that enough.
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That's right.
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So Christian Mounier, the chairman of Nissan America, says competing against Chinese brands outside the United States has become, in his words, a hell of a challenge.
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He told CNBC they have decent product, but it's all dumping.
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And what he's referring to is the government support that allows Chinese automakers to sell vehicles at prices that are very difficult for other manufacturers to match.
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But as we know, and as we've talked about before, it's not really just price that is going to be the challenge.
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It's their advanced technology, the fact that they're making cars a lot quicker.
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Because even if the car was half the price but it was a piece of garbage or it didn't have great technology or great styling, people wouldn't buy them either.
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So it's the combination of both, which hopefully this challenges other automakers to step up and say, okay, outside of you know the the cost factor because it's being subsidized by the Chinese government, what's the car all about?
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Right.
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And how do we compete on that level?
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And consumers are paying attention.
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Yes, they are.
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Yes.
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And we are too.
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So we'll be sure to keep everybody up to date on that for sure.
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So oil prices are moving higher this morning after President Trump rejected an Iranian proposal aimed at ending the conflict and reopening the Strait of Hormuz.
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Iran offered to reopen the waterway and return to nuclear negotiating uh negotiations in exchange for sanctions relief, access to frozen Iranian funds, and an end to the U.S.
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naval blockade.
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So before the conflict, about one-fifth of the world's oil supply moved through the strait.
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And we're all seeing and feeling the effects of this right now.
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Oh, yeah.
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Um, not only with gas, um, but also with diesel and how that affects everything that's being transported by truck because that use diesel.
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No question.
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Gas gas uh prices are definitely an issue.
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We're seeing it in the showroom.
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We're also the dealers that I'm talking to have said that there is an increase in EVs uh interest, interest in EVs as well as hybrids because of this.
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They don't know how much longer this is gonna last, but it's put them in the mindset of saying, you know what, regardless of how long it's gonna last, maybe it's just time for us to look at an EV or a hybrid.
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Right, yeah, right.
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Because it doesn't seem to be getting any better.
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Because I mean before the the conflict the prices were high as well.
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So that's right.
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Um yeah.
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So we'll see, we'll be paying close attention to that as well.
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So unfortunately, on a sad note, we want to recognize the passing of longtime Ford executive Jim O'Connor.
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O'Connor spent more than 40 years with the Ford Motor Company.
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That's right.
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During his career, he served as president of Ford of Canada, president of Lincoln Mercury, and president of the Ford Division.
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Uh he retired in 2004 as group vice president of North American Marketing and Sales and Service.
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Jim O'Connor was 83.
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Our thoughts are with his family and the many people he worked with throughout the industry.
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That's right.
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I had the pleasure of meeting Jim at an NADA convention many years ago.
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He's a larger-than-life individual and a great friend to so many people in the industry.
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He was an awesome guy.
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Uh, David Cain and Chris Saraceno will be joining me on a special edition of Inside Automotive to talk about the impact that Jim had in retail automotive industry and as well as the impact that he had in their lives.
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So stay tuned to cbtnews.com for that show.
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It'll be coming up this week.
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That'll be nice.
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Yeah, that'll be great.
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So look forward to that.
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As you all know, I love how social media has become a big part of how dealers connect with customers.
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And uh, we've been talking to more and more dealers about, you know, what's actually working.
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So I follow this general manager from a Buick GMC dealership in Stewart, Florida.
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His name's JC Pratt, and he's known as the Good GM on social media.
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So uh check out this montage real quick.
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You probably will recognize it.
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I talked to a guy that was trying to get a job here, and he's leaving because of the way the store he's at is currently ran.
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So listen to this.
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So, what do you guys think about this one?
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So, you got a salesperson on the floor that's a pretty good salesperson, but nobody gets along with him, he don't get along with nobody, but he wants to be a manager.
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You know, as part of my interview process, when I'm interviewing a salespeople that want to come work here for us, one of the questions that I asked them obviously is why do you want to leave where you are currently at right now?
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This vehicle right here happens to be the second most expensive GMC you can buy, and the MSRP is about$104,000.
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And if you by now don't know what vehicle this is, it's a Yukon XL AT4 Ultimate.
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All right, today we're getting a look at how JC is using social media to connect with not just car shoppers and his customers, but also salespeople and managers working within the industry.
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JC, thank you so much for joining us on CBT Live.
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Thank you, Bridget.
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Thanks, Jim.
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Great to be here.
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It's an honor to be on your show.
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Thank you.
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Well, good, good.
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It's an honor to have you here.
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I'm a big follower uh on social media and I love what you do.
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And uh so thanks for joining us.
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It is this has really been great.
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What made you decide to start putting yourself out there on social media?
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Well, here, so you know, back in the day I cut my teeth in this business in Chicago, grew up on uh doing all the advertising on network TV.
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I was kind of known as the uh as the infomercial king back in Chicago, doing a lot of stuff in Spanish and in English as well.
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And of course, with times changing, you know, I decided I had to surround myself with some good talented young people that really understood social media way better than I did, and uh got a quick lesson in the do's and the don'ts, and quickly realized after taking off with this thing that this is the way, this is the way now, it's the way of the future, and it's the way it's gonna be for a long time to come.
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So I embraced it, and it's really, really helped us take off tremendously in the store.
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Actually, today marks my four-year anniversary in the store.
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Happy anniversary!
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Yeah, thank you.
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Thank you.
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I've been working for the the the Starling family, they're great people for eight years, and this is the second store I run for them, but it's the first one that I really, really embraced the social media part of it, and it's really, really taken off, not just with consumers, uh, but with with you know people in the industry as well.
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I get calls all the time from people in the industry wanting advice.
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I get owners calling me.
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I was just on a trip in Aruba, uh a factory trip there, and I couldn't believe the amount of people that I did not know were coming up to me entire trip wanting to meet me, and they say they follow me and they like my content.
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It was a real eye-opener.
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Yeah, no, no question about it.
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And uh I love what you're doing.
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And but yours is a little bit of a different twist than most people that are on social media right now from the auto industry.
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Everybody's trying to get that lead going.
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Everybody's trying to connect with uh car shoppers and say, buy from us, we do business the great a great way, and you're gonna like us so much and have little funny videos.
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Yours, on the other hand, is just as much, I guess, for the car shopper uh as it is for industry uh types.
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I mean, whether you're selling cars, you're servicing vehicles, you're running dealerships, you're a sales manager, a desk manager, um you're you're really talking to the industry as a whole, and you're kind of pulling the curtain back a little bit, not in a negative way, by the way, uh, but really to kind of show car shoppers and us in the industry what it's really like uh, you know, managing a dealership.
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And uh I think that that's a great thing to do.
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And and I've got to believe that uh you're getting people, as you mentioned, that call you and say, you know, you're the kind of GM that I want to work for.
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Talk to me about that.
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Yeah, I I am, and I I get those messages all the time, and I just get people that just pop into the store from time to time, they're on vacation, they want to come visit the store, they want to come meet me.
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Uh I get tons of DMs.
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I I get on Zoom calls all the time with these people.
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I got owners calling me.
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I just recently had an owner come in here from New Jersey uh a few months ago with his wife and sat and spent the entire day with me, says he follows me, and he owns two dealerships out in New Jersey and and wanted to uh embrace our uh our volume uh uh business strategy, and he's doing great with it.
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And and I get customers walking in the showroom all the time as well that'll pull me to the side and tell me, hey man, you know, I I follow you, and I'm here to buy a car from you because I like the way you talk, and I like the way you take care of your customers and your transparency and how you treat your employees as well.
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And and that's what it's all about, you know.
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Yeah, making sure that everybody sees, you know, listen, the the industry has created a really bad name for themselves.
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It has.
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It's it's not a secret.
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Right.
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My mission, the Starlings mission, is to really change the perception of the car business for the general public.
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And all I can do is what I can control in my store, and the Starlings do the same thing in their stores, and uh, and it's working out great.
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That's right.
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Now, I would be remiss.
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We featured you on a previous show, as you it may have crossed your desk there, but uh, where you put it out there and you said, What is it called when somebody's trying to sell a car or buy a car, I should say, from a trade-in.
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I know because I've been around the industry so long, that's curbing cars, and it's a major no-no.
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Um, do is it okay to ask you what you ever did with that individual?
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Well, let me just say this.
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I don't I don't want to get into uh into specifics.
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All I can tell you is I promise you that won't be happening again at my school.
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And uh, and probably not for at least the next 10 years, because the word got around quickly.
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Yeah.
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Um, and uh, yeah, that's a that's a big, big no-no.
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Yeah, that's right.
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That's right.
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And you never know how you're gonna find out.
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Now, and I'm gonna tell you real quick how I found out the customer, uh, after they bought their their brand new vehicle, got a little buyer's remorse a week later, and figured out that maybe they really couldn't afford the payment like they thought they could and wanted to unwind the deal.
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Oh, there it goes.
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I'm gonna wind the deal.
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I don't want you to have something that you can't, you don't feel like you can afford.
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Right.
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And then he says, Well, how about my trade?
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I said, What trade?
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Oh, wow.
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So and so the cat got out of the bag at that point.
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I you know, I put my my detective cap on and and you know, flushed it all out of the system.
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But yeah.
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That's very unfortunate.
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The uh and I there, you know, in in defense of those in the industry, especially the newbies, as you know, sometimes they don't know that that's a major no-no in the industry.
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You just don't do that, you know.
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I'm giving the benefit of the doubt to some of those new salespeople out there that go, Oh, I just thought I could buy the car from you know from a s from a customer.
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But uh because we got some comments on that too.
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Uh I got one that said, I actually did that.
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I didn't know that was against the rules.
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So uh it's got it's gotta be in the rule book, you know.
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Very interesting in the comments for sure.
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Yes, yeah, there's no question about it.
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I love all of the scenarios that you bring up for the industry because I think that it's a it's a great uh training tool and opportunity to educate those in the industry as to what you should do and what you shouldn't do.
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And you talk as plain to the to the industry as you really do to the consumers out there.
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Have you heard from consumers and say, hey, you actually are teaching us a little bit about what happens in a showroom?
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100%.
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Yeah.
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And and and the way I know this is because it's hot, it's hard to measure this, right?
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But I I measure it with the amount of customers that look, we're the number one Buick GMC store in the whole district.
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And we bought this store five years ago, it was the worst performing one.
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Wow.
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We've gotten dealer of the year three years in a row and currently on track to get it again four years in a row.
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Nice.
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And you only do that, I mean, those prices are not given out for Christmas or for your birthday, right?
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Yeah, right.
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Hard work, taking good care of the customers, and the customers come through the store and they they walk right.
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I can see them staring at me from across the show.
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So I I know they're recognizing me, so I'll walk up to them.
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Hey, customers are telling me that they're following my videos.
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And I I I really find it like it's weird to me that they're that they're following this, but I'm glad they're following because they're seeing what I'm telling the industry, what we all should be doing, business the right way, taking good care of the customer, having good, transparent pricing, doing the right things.
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For example, that customer called me a week after he bought his car, figured out it was a little too much for him, and who unwind the deal after a week?
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No, I know.
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There's no question.
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I want to do business the right way.
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Right, right.
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Yeah, in fact, in many cases, and I know managing stores, when you do unwind a deal after a week or even ten days, nine times out of ten, they end up buying a lesser expensive car that does fit their budget, and then they tell everybody how great that experience was that you were open to taking a car back because it didn't fit their budget.
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So I'm with you on that.
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I th I think that that's a great move.
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And did in fact, did they buy another car that was less expensive?
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At this point, they have not.
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Okay.
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He will.
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He was very appreciative.
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I gave him back all of his money, he put fifteen hundred bucks down, gave him his money, got him his car back.
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Yeah.
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So he was very, very excited, and it it it it all ended on a very good note.
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That's good.
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That's great.
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That's great.
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So let me ask you this how many videos on average do you do a day?
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I mean, it just seems like you're cranking them out, but I could be wrong.
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Maybe you're only doing one a day.
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So there was a point where I was doing them every day.
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Okay.
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Um, by the way, so you're obviously watching the good GM.
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We also have another one for the Stewart channel for the store.
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Uh it's called Starling Buick GMC Stewart.
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We put three or four out a week on that as well.
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And it's also uh a lot for the consumer.
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Uh so I have the good GM, the Stewart channel, and between the two of those, we're probably putting out about four to five videos a week.
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A week, okay.
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Now, as it relates to the good GM, I really like to do videos that really resonate with the industry and with customers.
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I don't want to do videos just to do videos, even though people say, hey, you know, if you want to go viral, you gotta do a video every day.
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It's not about that to me.
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It's it's about just really talking about the things that are pertinent to both consumers and people in the industry.
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Yeah.
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What social media platform gets the best results for you?
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I I gotta tell you, TikTok.
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TikTok, yeah.
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You know, when it comes when it comes to this, TikTok.
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I don't have as many followers as I do on Instagram for some reason.
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Although um I did have a little bit of an uptick there when you guys uh ran that story for me.
00:14:50.080 --> 00:14:51.519
So thanks for the additional uh.
00:14:52.000 --> 00:14:53.279
Well, you'll get some on this one too.
00:14:53.600 --> 00:14:54.960
Yeah, I owe it to you guys.
00:14:55.039 --> 00:14:55.279
Thank you.
00:14:55.600 --> 00:14:56.159
No, that's great.
00:14:56.320 --> 00:15:06.080
So let me ask you this what do you suggest to salespeople that are watching right now, and managers for that matter, but many that are managing dealerships as you are, uh, with regard to social media?
00:15:06.240 --> 00:15:08.639
Jump in, get in front of the camera.
00:15:08.960 --> 00:15:11.840
Jump in, get your feet wet, don't be camera shy.
00:15:12.000 --> 00:15:15.600
Once you do it three or four or five times, you're gonna start getting a flow with it.
00:15:15.679 --> 00:15:16.000
Yeah.
00:15:16.159 --> 00:15:21.200
Um, and and and really embrace it because this is the now and it's the future.
00:15:21.600 --> 00:15:23.759
And if you don't start going now, I told Mr.
00:15:23.840 --> 00:15:25.600
Starling three years ago, Mr.
00:15:25.679 --> 00:15:30.159
Starling, I'm gonna turn this into the social media store in our district.
00:15:30.320 --> 00:15:36.399
And it's gonna start right here, and we are gonna be and he's he got a little nervous, I'm not gonna lie, because a lot of people are afraid of social media stuff.
00:15:36.480 --> 00:15:37.360
Oh, sure, no question.
00:15:37.679 --> 00:15:43.360
And and and so he had a lot, he had so much trust in me that he said, okay, go ahead, just be real careful.
00:15:43.519 --> 00:15:44.320
Well, guess what?
00:15:44.559 --> 00:15:46.639
Now we're doing it at all of his stores.
00:15:46.799 --> 00:15:48.639
We've hired uh marketing crew.
00:15:48.720 --> 00:15:51.360
I mean, we we it's a big organization now.
00:15:51.519 --> 00:15:53.279
Uh it's a big, it's a big thing now.
00:15:53.360 --> 00:15:57.840
It's not it's not just me doing it, it's it's all of our stores doing it, and everybody's really embraced it.
00:15:58.080 --> 00:15:59.279
That that is fantastic.
00:15:59.440 --> 00:16:12.240
And to be uh a number one in your district in what I know to be, because I cut my teeth in South Florida, a little uh further south than where you are, but uh to be selling GMCs and Buick's highly competitive.
00:16:12.399 --> 00:16:18.240
I mean, it's it's it's as you know, so many retirees are uh very tied to those two brands.
00:16:18.320 --> 00:16:24.559
And uh, you know, as you know, a lot of retirees have nothing but time on their hands, so they will shop a deal, Bridget.
00:16:24.720 --> 00:16:27.519
No, I'm not kidding, for a hundred dollars from store to store.
00:16:27.759 --> 00:16:28.320
I believe it's a good one.
00:16:28.480 --> 00:16:29.279
Am I right, JC?
00:16:29.519 --> 00:16:29.840
I believe it.
00:16:30.080 --> 00:16:34.879
Well, what's funny about that is you know, this is Stewart, Florida, a population 18,000.
00:16:35.039 --> 00:16:35.279
Right.
00:16:35.519 --> 00:16:37.200
Snowbird capital of the world.
00:16:37.360 --> 00:16:43.360
And when I took over the store four years ago, all I kept hearing is the snowbirds are gone, the snowbirds are gone, it's gonna be dead.
00:16:43.600 --> 00:16:45.679
Well, I haven't heard that in years anymore.
00:16:46.000 --> 00:16:52.000
We got rid of that because we are bringing people from all over the place now with social media.
00:16:52.320 --> 00:16:52.879
Isn't that great?
00:16:53.360 --> 00:16:58.559
People that are watching, managers, salespeople, take a listen to this because he's doing a phenomenal job.
00:16:58.720 --> 00:17:01.120
He's just really being himself on camera.
00:17:01.279 --> 00:17:05.519
You know, what you see is what you get, and that's what resonates with people, that authenticity.
00:17:05.599 --> 00:17:08.799
So you don't have to be polished and perfect and everything else.
00:17:08.960 --> 00:17:18.240
It's just be get out there and tell your dealership story the way JC is, and it it resonates with buyers, as well as those that are thinking about going to work for your business.
00:17:18.400 --> 00:17:24.319
I'm sure that, you know, if somebody sees these and they're in the industry, JC, they're going, This is the GM I want to work for.
00:17:24.400 --> 00:17:26.480
Which by the way, where did you come up with the good GM?
00:17:26.559 --> 00:17:33.440
I've heard of the good doctor and the good wife, but the good GM is a man that came up with the idea sitting right next to me right now.
00:17:33.519 --> 00:17:37.920
He's a great guy, and uh, you know, I he said, Hey, we're gonna call you the good GM.
00:17:38.000 --> 00:17:39.359
And I I was like, Man, I I don't know.
00:17:39.440 --> 00:17:41.519
It sounds like I'm making myself sound too important.
00:17:41.599 --> 00:17:43.759
But he says, No, we're gonna, that's what we're gonna roll with.
00:17:43.839 --> 00:17:46.480
And the next thing I I know, it's I'm the good GM.
00:17:46.559 --> 00:17:48.480
So, you know, hey, it is what it is.
00:17:48.640 --> 00:17:48.799
Sure.
00:17:49.039 --> 00:17:49.759
I'll roll with it.
00:17:49.839 --> 00:17:50.240
I like it.
00:17:50.319 --> 00:17:53.279
People know me as the good GM now, and uh all is good.
00:17:53.519 --> 00:17:54.000
Yep.
00:17:54.240 --> 00:17:54.720
We like it.
00:17:54.799 --> 00:17:55.759
Yeah, the good GM.
00:17:56.000 --> 00:17:56.240
Go ahead.
00:17:56.400 --> 00:17:57.359
Yes, thank you.
00:17:57.680 --> 00:18:00.720
So um, one last question for you, JC, before we let you go.
00:18:00.880 --> 00:18:01.599
What's next for you?
00:18:01.680 --> 00:18:07.119
You do you feel like you're just getting started, or what's the bigger vision for your content and where you're going with it?
00:18:07.440 --> 00:18:14.240
Well, I feel like we're just getting started, and um, and obviously we uh the starling organization wants to continue to grow.
00:18:14.319 --> 00:18:16.960
We're kind of we're continuously looking for more stores.
00:18:17.279 --> 00:18:19.200
Um I would like to grow with them, you know.
00:18:19.440 --> 00:18:26.079
I would like to have my own store one day soon and and continue uh to be with them as well.
00:18:26.240 --> 00:18:28.640
I never want to separate myself from the Starling family.
00:18:28.720 --> 00:18:29.920
They're they're wonderful people.
00:18:30.079 --> 00:18:33.359
I've been doing this for 42 years, and I've worked for some characters in my life.
00:18:33.440 --> 00:18:37.839
I've worked for some good people, but I've never worked for such great people like this.
00:18:37.920 --> 00:18:41.359
And I'm not just saying this, okay, to get you know a pat on the back for Mr.
00:18:41.440 --> 00:18:42.240
Starling later.
00:18:42.319 --> 00:18:42.480
Yeah.
00:18:42.640 --> 00:18:43.119
I mean it.
00:18:43.200 --> 00:18:47.759
My only regret in life is that I didn't meet him earlier on in my career because I'm in a great place.
00:18:47.920 --> 00:18:55.279
I work for great people, and I feel like there's a big bright future ahead of us for all of us in this in this entire uh organization.
00:18:55.519 --> 00:18:56.720
Yeah, no question about it.
00:18:56.799 --> 00:18:58.960
And and I know that he appreciates those comments.
00:18:59.119 --> 00:19:14.400
I it you can tell from your videos that the Starling family lets you run your deal, and that means, as a former GM myself, that means a lot because it's it's really hard to get the things done that you want to get done when you got the dealer that goes, No, do this, do don't do this, do this, don't do it.
00:19:14.559 --> 00:19:16.799
You're like, okay, well, I can't really run my own deal.
00:19:16.960 --> 00:19:18.720
But they clearly allow you to do that.
00:19:18.799 --> 00:19:22.319
And uh I gotta tell you, they I can't even tell you when the last time they were here.
00:19:22.400 --> 00:19:23.279
I talk to them all the time.
00:19:23.440 --> 00:19:23.599
Mr.
00:19:23.759 --> 00:19:28.720
Starling calls me at the end of every month to let me know, hey, great job, you hit up your injectives again.
00:19:28.880 --> 00:19:35.039
Uh, but no, they let me run my store, they let me, they they they give me uh a lot of uh latitude here.
00:19:35.119 --> 00:19:43.519
You know, I've always been of the opinion, you know, as for uh forgiveness instead of permission, anyways, and everything that I've done so far, they like.
00:19:43.759 --> 00:19:46.319
We've come up with a lot of good stuff and and and they love it.
00:19:46.400 --> 00:19:49.920
And they've incorporated it into their other stores as well.
00:19:50.559 --> 00:19:54.559
I think Sterling Pratt's got a nice bring to it for the next store.
00:19:54.880 --> 00:19:55.200
You know what I mean?
00:19:55.359 --> 00:19:56.400
Sterling Pratt's?
00:19:56.559 --> 00:20:01.519
I mean, that's uh I have a quick comment here from one of our from one of our viewers.
00:20:02.319 --> 00:20:05.200
I'll tell you what, you know, I'm big into manifesting.
00:20:05.680 --> 00:20:06.079
There you go.
00:20:06.400 --> 00:20:09.279
There you go, JC Pratt's Buick GMC.
00:20:09.839 --> 00:20:11.839
One of my uh my cabinets here in my office.
00:20:12.079 --> 00:20:12.400
I love it.
00:20:12.640 --> 00:20:14.720
I keep it, I keep it in front of me.
00:20:15.119 --> 00:20:16.720
So I think it's coming.
00:20:16.799 --> 00:20:18.319
If you can see it in your mind, that's right.
00:20:18.720 --> 00:20:19.200
Hold it in your hand.
00:20:19.599 --> 00:20:20.240
That's exactly right.
00:20:20.319 --> 00:20:21.839
By the way, you're also Cuban, right?
00:20:22.400 --> 00:20:22.960
Cuban born?
00:20:23.200 --> 00:20:24.559
Yes, my parents were born in Cuba.
00:20:24.720 --> 00:20:24.960
Okay.
00:20:25.200 --> 00:20:29.039
Um, all of my family, except my younger brother and I were born in uh in Chicago.
00:20:29.920 --> 00:20:31.440
Everybody was born in Cuba except him and I.
00:20:31.599 --> 00:20:33.200
So born and raised in Chicago, yes.
00:20:33.440 --> 00:20:33.759
That's right.
00:20:37.440 --> 00:20:43.680
Bridget and I had the pleasure of uh joining a group for a dealer uh uh dealer trip to Cuba, and it was fascinating.
00:20:43.839 --> 00:20:44.240
It really was.
00:20:44.720 --> 00:20:45.279
Yeah, yeah, yeah.
00:20:45.599 --> 00:20:45.920
Really something.
00:20:46.000 --> 00:20:48.559
Yeah, that opened up to everybody.
00:20:48.799 --> 00:20:50.240
I know, I know, absolutely.
00:20:50.559 --> 00:20:51.920
So we I think we did have a comment.
00:20:52.079 --> 00:20:59.279
How have you found uh a good or have you found a good way to connect social engagement to appointments or sales?
00:21:00.720 --> 00:21:08.000
So yes, uh with with our page social Facebook and Instagram, that's doing really well for us.
00:21:08.160 --> 00:21:30.799
Every month we're coming out with new uh new videos regarding incentives on certain vehicles, whether it's Buick or GMC or talking about the GMCC era, but every single month uh the marketing crew shows up on the first of the month, the second of the month when the new incentives come out, and we spend the entire morning doing new videos for the new month.
00:21:30.880 --> 00:21:34.559
So, for example, uh the last day of the month here is Wednesday.
00:21:34.720 --> 00:21:36.480
By the way, I need a few more GMCs.
00:21:36.559 --> 00:21:40.079
So if you know anybody interested in buying a GMC, I'm giving some great deals.
00:21:41.759 --> 00:21:43.359
Never misses an opportunity, right?
00:21:43.599 --> 00:21:48.400
Hey, I gotta, I got I need I need 15 more GMCs, so and I'll I'll get them.
00:21:48.480 --> 00:21:51.359
We hit our we've hit our objectives all year so far this year.
00:21:51.519 --> 00:21:57.279
So but Facebook does really, really good for us with the paid uh advertisement, and so does Instagram.
00:21:57.440 --> 00:21:58.640
Okay, okay, good to know.
00:21:58.799 --> 00:21:59.759
Can't you sandbag those?
00:22:00.160 --> 00:22:03.759
Deal till next month and then just have a just you know have a have a really strong October.
00:22:07.519 --> 00:22:13.440
I was like the sandbag king when I was selling you just telling you South Florida still.
00:22:13.599 --> 00:22:22.160
That's exactly well, you know, JC, that you know they'll say, hey, if you hit 25 cars, you get X number of dollars, but they don't say anything about 26 cars, right?
00:22:22.319 --> 00:22:25.680
So you sell the 26 car, you go, that's going into next month, right?
00:22:25.759 --> 00:22:25.839
Yeah.
00:22:26.000 --> 00:22:26.960
You know what I'm talking about.
00:22:27.119 --> 00:22:30.640
Yeah, I know what you're talking about, but honestly, we don't do that at our store.
00:22:30.720 --> 00:22:34.480
Everything that we sell, we put it in, and every month has got a stand on its own.
00:22:34.640 --> 00:22:35.119
That's great.
00:22:35.200 --> 00:22:35.599
That's great.
00:22:35.839 --> 00:22:38.000
JC Pratz, thank you so much for joining us.
00:22:38.079 --> 00:22:39.680
This has been a real pleasure because I follow you.
00:22:39.759 --> 00:22:45.440
I get such a kick out of your videos, and you nail it on all those questions that you challenge the industry on.
00:22:45.519 --> 00:22:47.119
So thank you so much for what you do.
00:22:47.359 --> 00:22:51.039
Love to do a follow-up with you to see, uh, especially when you get your own dealership appointed.
00:22:51.519 --> 00:22:52.799
Yeah, you got it, Jim.
00:22:52.880 --> 00:22:53.759
Thank you so much, Bridget.
00:22:54.079 --> 00:22:54.880
Thank you for the time.
00:22:54.960 --> 00:22:56.559
It's been an honor to be on your show.
00:22:56.799 --> 00:22:57.119
Great, great.
00:23:00.079 --> 00:23:00.400
All right, great.
00:23:00.720 --> 00:23:02.640
We'll try to find you as other GMCs.
00:23:03.440 --> 00:23:03.759
Thank you.
00:23:03.839 --> 00:23:04.240
Have a great day.
00:23:04.559 --> 00:23:05.119
Hey, you too.
00:23:05.200 --> 00:23:05.519
Bye bye.
00:23:05.680 --> 00:23:06.000
All right.
00:23:06.160 --> 00:23:06.880
What a great guy.
00:23:07.039 --> 00:23:07.759
Yeah, he's great.
00:23:07.839 --> 00:23:08.640
Yeah, we've appreciated.
00:23:09.039 --> 00:23:12.000
As you know, I'm I'm I'm I'm I'm I'm like, here he is again.
00:23:12.079 --> 00:23:16.960
Check this because he'll bring up stuff in the industry that I'm like, that's exactly what happens.
00:23:17.119 --> 00:23:24.960
You know, whatever it was, whether curving cars or a guy coming in late, or what do you do with a top salesperson, you know, that doesn't follow and get in line.
00:23:25.119 --> 00:23:26.160
And he he talks about all that.
00:23:26.559 --> 00:23:26.640
Right.
00:23:26.720 --> 00:23:36.480
And like you said, all that's very helpful for the consumers and his customers, but also the industry as a whole, other GMs, I'm sure, are getting a lot of help from him as well as um salespeople and everyone.
00:23:36.799 --> 00:23:43.039
Yeah, and then and then on the side of your, you know, if you're a sale, if you're a desk manager, it's funny, he did one video recently on his desk managers.
00:23:43.119 --> 00:23:53.119
He kind of held the thing up and he said, Hey, here's how I do the, you know, the all of these desk managers were first F and I guys, you know, and then went into F and I and then became desk managers.
00:23:53.200 --> 00:23:54.400
And uh I thought that was interesting.
00:23:54.480 --> 00:24:05.759
I too did the same thing as an F because as if you're an FI industry or in the industry as an FI manager, it makes for a great desk manager because you can read a deal in 30 seconds.
00:24:05.839 --> 00:24:14.240
You know exactly what you're looking for, whether it be credit scores, terms, whatever, you know exactly where you're gonna put that, you know, that that buyer, you know what's gonna work best.
00:24:14.400 --> 00:24:15.039
So it really helps.
00:24:15.279 --> 00:24:15.839
It really does.
00:24:16.000 --> 00:24:16.480
It really does.
00:24:16.799 --> 00:24:21.599
So before we get to Derek Hansen from Cox Automotive, I would like to thank today's sponsor.
00:24:21.759 --> 00:24:23.359
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00:24:23.599 --> 00:24:27.119
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00:24:42.319 --> 00:24:43.119
Thank you, Conversica.
00:24:43.519 --> 00:24:43.759
Ignite.
00:24:44.079 --> 00:24:44.480
I love it.
00:24:44.640 --> 00:24:45.039
Yes.
00:24:45.519 --> 00:24:51.519
All right, affordability is changing what buyers want and what dealers need to stock heading into Q4.
00:24:51.920 --> 00:24:53.759
So, what does the used car market look like?
00:24:53.920 --> 00:25:04.400
We're joined live by Derek Hansen, Senior Vice President of Dealer, Lender and Inventory Management Solutions at Cox Automotive to talk about the current state of the used car sales and inventory.
00:25:04.559 --> 00:25:06.079
Derek, welcome into the show.
00:25:06.400 --> 00:25:07.759
Great to be with you, Jim Bridget.
00:25:07.920 --> 00:25:08.400
Thanks for having me.
00:25:08.559 --> 00:25:09.119
Yeah, absolutely.
00:25:09.200 --> 00:25:09.680
Good to see you.
00:25:09.839 --> 00:25:12.319
You got a lot of title, you got a lot of things under your title there, man.
00:25:12.480 --> 00:25:13.920
Lender and inventory management.
00:25:14.400 --> 00:25:18.559
So you are a busy young man there at Cox Automotive.
00:25:19.440 --> 00:25:20.000
That's great.
00:25:20.160 --> 00:25:20.559
That's great.
00:25:20.640 --> 00:25:21.920
So uh let's jump right in here.
00:25:22.000 --> 00:25:25.039
What's changed in the used car market as we head into Q4?
00:25:25.680 --> 00:25:32.000
Yeah, no, when we look at the market for 2026, I would say overall it's been surprisingly resilient, is a great word.
00:25:32.160 --> 00:25:39.759
But as we look at moving into Q4, demand is shifting, and it is a demand story because it's driven by affordability.
00:25:39.920 --> 00:25:44.160
And which vehicles can customers get into and comfortably finance?
00:25:44.319 --> 00:25:47.519
That's the piece that's really shaping the market as we head into Q4.
00:25:48.000 --> 00:25:54.400
And new vehicle sediment has shifted downward because of that, because of that affordability challenge.
00:25:54.559 --> 00:26:02.319
And so, the as our performance managers are working with dealers, the story right now, it's not top line inventory and what you have on the lot.
00:26:02.400 --> 00:26:10.960
It's do you have the inventory in the right price bands that will bring the consumers who are who are looking for that payment to really get something that they can drive affordably?
00:26:11.200 --> 00:26:12.000
Yeah, for sure.
00:26:12.240 --> 00:26:13.440
How are monthly payments?
00:26:13.519 --> 00:26:19.039
Uh high borrowing costs and longer ownership cycles impacting uh used demand.
00:26:19.440 --> 00:26:28.720
Yeah, no, we've seen a lot of headlines even in the last two weeks as you think about borrowing costs, and and they've remained surprisingly open throughout the market in 2026.
00:26:28.960 --> 00:26:33.200
But what where we're seeing the challenge, though, is because of those new car costs, right?
00:26:33.440 --> 00:26:36.559
They just crossed 50,000 again is the average new car price.
00:26:37.279 --> 00:26:41.119
That even with the broader credit access, those costs are still high.
00:26:41.200 --> 00:26:47.039
And so what's happening is the longer-term loans are really what's doing more of the work as far as affordability goes.
00:26:47.119 --> 00:26:50.640
And that's not necessarily the equation dealers want to be in.
00:26:50.799 --> 00:26:53.359
And so that really, again, pushes towards value.
00:26:53.440 --> 00:26:56.960
It's pushing shoppers towards value, which means late model used.
00:26:57.119 --> 00:27:03.200
We know there weren't as many cars manufactured in 21, 22, 23 because of the COVID pandemic.
00:27:03.359 --> 00:27:05.599
And so that's scarce inventory right now.
00:27:05.680 --> 00:27:06.880
And so that's the name of the game.
00:27:06.960 --> 00:27:12.319
It's really dealers finding the appropriate inventory, often late model used in those key price bands.
00:27:12.640 --> 00:27:17.599
So, Derek, if credit access is improving, why does affordability still feel strained?
00:27:18.000 --> 00:27:20.880
Yeah, it's a great question for all of us, really, as consumers, right?
00:27:20.960 --> 00:27:34.319
And and I think we're all feeling it as we go to the pump, you see where gas prices are, you go to the grocery store, you see where where groceries are, and so consumers are feeling it in every angle, whether it's the gas station, the grocery store, insurance costs, it's it's coming at them.
00:27:34.400 --> 00:27:39.519
And so that means they're that much more sensitive when they show up on the lot and try and fulfill their transportation needs.
00:27:39.680 --> 00:27:44.880
And that's where that payment becomes such a critical factor in in this K-shaped economy.
00:27:45.039 --> 00:27:54.000
More and more we're pushing towards late model use, we're pushing towards uh you know the affordability band that might have been a step or two below where they were three or four years ago.
00:27:54.559 --> 00:28:00.000
What should a healthy Q4 inventory mix look like by price point payment and turn?
00:28:00.559 --> 00:28:04.480
Yeah, and it's the it's the right question dealers should be asking themselves right now.
00:28:04.559 --> 00:28:10.960
And again, it's what I would encourage dealers is not to be focused on that top line revenue or excuse me, that top line inventory number.
00:28:11.119 --> 00:28:14.319
It's focused on those price bands that are moving quickly.
00:28:14.480 --> 00:28:17.839
And are you do you have the appropriate supply in those bands?
00:28:18.079 --> 00:28:19.519
And dealers are seeing it.
00:28:19.599 --> 00:28:21.519
They know those are the bands that are most scarce.
00:28:21.599 --> 00:28:25.680
That's where the prices are being driven up, that's where it's hardest to acquire the right inventory.
00:28:25.759 --> 00:28:37.039
And so making sure you're laser focused on those bands, because again, the demand is there, it's just in certain pockets, and you have to make sure you're executing within regards of those specific bands of inventory.
00:28:37.200 --> 00:28:37.359
Yeah.
00:28:37.759 --> 00:28:42.960
So which CRM and service lane signals um are identifying likely sellers?
00:28:43.359 --> 00:28:51.519
Yeah, Bridget, and that that is such a key question because as we just said, you know, the demand is there in certain pockets, and that's where all the dealers are focused.
00:28:51.599 --> 00:28:54.960
That's where prices are hard, that's where it's hard to acquire that right inventory at auction.
00:28:55.359 --> 00:29:02.400
And so that leads you to really converting sources within the rooftop of your dealership, like the service drive, like your CRM.
00:29:02.559 --> 00:29:04.000
These are your captive customers.
00:29:04.160 --> 00:29:08.319
This is reinforcing lifetime value of those relationships that you have.
00:29:08.480 --> 00:29:14.960
And so it's causing to really invest in those processes, in those workflows that allow you to acquire that inventory at the right price.
00:29:15.039 --> 00:29:31.680
And those who are able to execute well and connect departments, create a process that your team can get behind, they're able to create a couple more up, I will say a couple thousand dollars of opportunity on the gross margin front as they acquire those cars appropriately, because that is where the market is moving.
00:29:31.759 --> 00:29:36.160
That we know that the demand is there, we know the vehicles are turning, you have to acquire them right.
00:29:36.240 --> 00:29:40.319
And as you tap into those sources within the dealership, it creates real opportunity for the dealer.
00:29:40.480 --> 00:29:41.119
Yeah, for sure.
00:29:41.279 --> 00:29:46.480
Uh service drives we've seen turn into as much service drive as it is an acquisition drive.
00:29:46.640 --> 00:29:55.119
So so many service departments now are working hand in hand with the used car manager, used car department to, you know, dish up appraisals.
00:29:55.200 --> 00:29:58.799
And what makes an appraisal offer both realistic and compelling?
00:29:59.200 --> 00:30:03.039
Yeah, I mean that we've seen the convergence of those departments to your point, Jim.
00:30:03.119 --> 00:30:11.039
And and what we've seen also in that same time frame is consumers are smarter than they've ever been as they come into the purchase process, as they come into the disposal process, right?
00:30:11.119 --> 00:30:16.880
As they're selling a piece of inventory, they're they're on AI, they're researching the web.
00:30:17.039 --> 00:30:20.880
We've seen that stat as consumers come with more offers in the back pocket.
00:30:21.119 --> 00:30:30.160
So, as a dealer, what that means is you have to have a process that's transparent, that builds trust, and that is open and honest with the consumer.
00:30:30.559 --> 00:30:39.119
And as you do that, as you build that transparent process, as you bring in all the information for the good and for the bad about that vehicle, you have that relationship.
00:30:39.279 --> 00:30:44.480
You have that uh, you know, they've been uh a customer at your dealership, they've been in your service drive.
00:30:44.559 --> 00:30:44.640
Yeah.
00:30:44.799 --> 00:30:51.039
And what we see is that 70%, 4% of customers who are in your service drive, when they sell that vehicle, they're gonna buy a vehicle from you.
00:30:51.119 --> 00:30:59.279
So there's cascading benefit to the dealership as you execute appropriately, but it all starts with trust and being transparent as you bring that offer to bear.
00:30:59.440 --> 00:30:59.680
Yeah.
00:30:59.920 --> 00:31:04.480
So from your perspective, what moves should dealers be making in the next 30 days?
00:31:04.799 --> 00:31:09.200
Yeah, I think it really, you know, if I were to boil it down to three things, it's one, rebalance your inventory.
00:31:09.359 --> 00:31:15.359
Make sure you have, you've highlighted the bands where inventory is moving and that you're sourcing appropriately, you're building out your supply.
00:31:15.440 --> 00:31:16.960
That's number one, is rebalance.
00:31:17.119 --> 00:31:20.559
Number two is really activate those additional sources within a dealership.
00:31:20.640 --> 00:31:24.480
We mentioned the increased profitability, that means for the dealership, the increased lifetime value.
00:31:24.640 --> 00:31:29.279
Make sure you're connecting the departments, you're building the workflow, and you have something your team can get behind.
00:31:29.440 --> 00:31:31.519
And then number three is really protect turn.
00:31:31.839 --> 00:31:37.599
This is an environment where you can't lose sight of inventory that's outside of those bands, you can't let it go.
00:31:37.680 --> 00:31:48.720
So staying on top of turns, staying on top of your pricing, and really merchandising to tell the story of affordability, that what it means, not just top line price, but what it means to get a customer into that car.
00:31:48.880 --> 00:31:50.000
That's the name of the game right now.
00:31:50.079 --> 00:31:52.880
And those who can execute, there's a lot of opportunity in the market.
00:31:53.119 --> 00:32:00.160
Yeah, if you had to have one takeaway from today for dealers and what they should remember headed into Q4, what would it be?
00:32:00.480 --> 00:32:05.839
Yeah, I think the takeaway would be right where we left off that the opportunity in this market is real, but it's concentrated.
00:32:05.920 --> 00:32:06.000
Yeah.
00:32:06.160 --> 00:32:10.640
And so you have to execute with those customers that you have in the rooftop, acquiring the cars appropriately.
00:32:10.720 --> 00:32:18.960
You have to execute, telling the story, and you really have to be on your game from an acquisition perspective so that you maintain velocity within those segments that are really turning vehicles.
00:32:19.200 --> 00:32:19.920
Yeah, for sure.
00:32:20.160 --> 00:32:22.079
Derek, thank you so much for joining us on the show.
00:32:22.160 --> 00:32:23.039
Very much appreciate it.
00:32:23.200 --> 00:32:25.759
Used cars is obviously a very hot topic.
00:32:25.839 --> 00:32:28.640
It has been now for some time for obvious reasons.
00:32:28.799 --> 00:32:39.759
The affordability situation that we find ourselves in that you mentioned at the top of the segment, that continues to apply pressure, but yet everybody needs used cars, and we can't do enough to get our hands on them.
00:32:39.920 --> 00:32:43.279
So uh your talk today is uh certainly very timely.
00:32:43.359 --> 00:32:44.400
So thank you so much for joining us.
00:32:44.480 --> 00:32:45.039
Very much appreciated.
00:32:45.279 --> 00:32:45.759
Yeah, thank you both.
00:32:45.920 --> 00:32:46.640
A lot of opportunity there.
00:32:46.720 --> 00:32:47.519
I appreciate what you're doing.
00:32:47.599 --> 00:32:47.839
Thank you.
00:32:48.000 --> 00:32:48.799
Thanks.
00:32:49.599 --> 00:32:50.880
Always great having Derek on.
00:32:51.039 --> 00:32:54.079
Yeah, he's been on with us so many times for so long.
00:32:54.319 --> 00:32:54.799
We go way back.
00:32:55.039 --> 00:32:55.519
I know great.
00:32:55.599 --> 00:32:57.440
Yeah, he should be part of the anchor team.
00:32:57.920 --> 00:32:58.640
He does a good job.
00:32:59.039 --> 00:33:00.720
Things don't work out over there at Craig's American.
00:33:01.759 --> 00:33:03.359
That little company comes great.
00:33:04.400 --> 00:33:05.599
That's exactly right.
00:33:06.559 --> 00:33:07.599
All right, everyone.
00:33:07.759 --> 00:33:09.200
Thank you so much for joining us today.
00:33:09.359 --> 00:33:14.880
Before we leave, be sure to head over to cbtnews.com for more great conversations like this.
00:33:15.039 --> 00:33:25.119
And also be sure to like, follow, and subscribe on all of our socials or wherever you like to get your content to make sure you don't miss a live show or any of the great content that we're providing.
00:33:25.279 --> 00:33:31.839
Any of these great interviews and newsletter, Jim's tips that he likes to do, Jim's social media clips.
00:33:32.160 --> 00:33:34.319
Sometimes I go I go off the deep end.
00:33:34.400 --> 00:33:38.240
You know, I get so passionate about the about the industry, you know.
00:33:38.559 --> 00:33:39.920
But uh we are so fortunate here.
00:33:40.000 --> 00:33:44.720
We've got so many great people that uh come into CBT News and now CBT Live.
00:33:44.880 --> 00:33:55.519
What what's cool about this show is that we can talk about things right up to the moment, you know, where before we you know we would record something and then maybe some things would change by the time we recorded it and then posted it.
00:33:55.680 --> 00:33:56.240
But live is on.
00:33:56.720 --> 00:34:00.960
We were turning things around pretty quickly, but things happen within hours here these days.
00:34:01.119 --> 00:34:05.680
So and this is five days a week uh lunchtime, 12 noon, unless you're in California.
00:34:05.759 --> 00:34:07.119
That's then it's then it's breakfast time.
00:34:07.359 --> 00:34:08.960
So have breakfast or lunch with us every day.
00:34:09.199 --> 00:34:09.440
That's right.
00:34:09.679 --> 00:34:10.400
Monday through Friday.
00:34:10.639 --> 00:34:11.599
Thanks for watching, everyone.
00:34:11.679 --> 00:34:13.039
We'll see you right back here tomorrow.
00:34:13.119 --> 00:34:14.239
Yeah, noon Eastern.
00:34:14.480 --> 00:34:14.719
That's right.
00:34:14.880 --> 00:34:15.760
Go make it a great day.
00:34:30.800 --> 00:34:41.840
Interviews in the glass wall, price tags up in the laptop, leaders up with the margins, please, supply chain choke in the body's freeze, new card views gonna play every number of things on the Thursday night.
00:00:00.320 --> 00:00:03.439
What's really happening with used car sales and inventory?
00:00:03.600 --> 00:00:10.240
And how one dealer is using social media to stand out and connect with customers as well as those within the industry.
00:00:10.400 --> 00:00:13.359
All that more coming up now on CBT Live.
00:00:29.679 --> 00:00:33.600
I'm Jim Fitzpatrick, and I'm joined by my partner in crime here, Bridget Fitzpatrick.
00:00:33.920 --> 00:00:34.799
Hello, welcome to the show.
00:00:34.880 --> 00:00:36.399
I hope you all had a great weekend.
00:00:36.640 --> 00:00:36.960
Yeah.
00:00:37.280 --> 00:00:46.479
So coming up, uh, we'll be joined by JC Pratt's Executive General Manager at Starling Automotives, also known as the Good GM on social media.
00:00:46.560 --> 00:00:59.039
And then we'll also be joined by Derek Hansen, Senior Vice President of Dealer, Lender, and Inventory Management Solutions at Cox Automotive to give us his take on the current state of used car sales and inventory heading into Q4.
00:00:59.439 --> 00:00:59.840
That's right.
00:00:59.920 --> 00:01:03.280
Before we get to those great guests, we have a few stories to go over.
00:01:03.759 --> 00:01:06.799
So we're going to start with the growing threat from Chinese automakers.
00:01:07.519 --> 00:01:07.840
You know.
00:01:08.879 --> 00:01:09.680
We don't talk about that enough.
00:01:10.959 --> 00:01:11.200
That's right.
00:01:11.519 --> 00:01:20.400
So Christian Mounier, the chairman of Nissan America, says competing against Chinese brands outside the United States has become, in his words, a hell of a challenge.
00:01:21.200 --> 00:01:25.280
He told CNBC they have decent product, but it's all dumping.
00:01:25.359 --> 00:01:34.079
And what he's referring to is the government support that allows Chinese automakers to sell vehicles at prices that are very difficult for other manufacturers to match.
00:01:34.400 --> 00:01:39.280
But as we know, and as we've talked about before, it's not really just price that is going to be the challenge.
00:01:39.359 --> 00:01:42.640
It's their advanced technology, the fact that they're making cars a lot quicker.
00:01:44.640 --> 00:01:51.280
Because even if the car was half the price but it was a piece of garbage or it didn't have great technology or great styling, people wouldn't buy them either.
00:01:51.920 --> 00:02:03.920
So it's the combination of both, which hopefully this challenges other automakers to step up and say, okay, outside of you know the the cost factor because it's being subsidized by the Chinese government, what's the car all about?
00:02:04.159 --> 00:02:04.239
Right.
00:02:04.480 --> 00:02:05.840
And how do we compete on that level?
00:02:06.959 --> 00:02:08.240
And consumers are paying attention.
00:02:08.800 --> 00:02:09.199
Yes, they are.
00:02:09.439 --> 00:02:09.520
Yes.
00:02:09.919 --> 00:02:10.479
And we are too.
00:02:10.639 --> 00:02:13.039
So we'll be sure to keep everybody up to date on that for sure.
00:02:13.840 --> 00:02:22.560
So oil prices are moving higher this morning after President Trump rejected an Iranian proposal aimed at ending the conflict and reopening the Strait of Hormuz.
00:02:23.039 --> 00:02:34.319
Iran offered to reopen the waterway and return to nuclear negotiating uh negotiations in exchange for sanctions relief, access to frozen Iranian funds, and an end to the U.S.
00:02:34.719 --> 00:02:35.759
naval blockade.
00:02:36.159 --> 00:02:41.199
So before the conflict, about one-fifth of the world's oil supply moved through the strait.
00:02:41.280 --> 00:02:44.080
And we're all seeing and feeling the effects of this right now.
00:02:44.400 --> 00:02:44.639
Oh, yeah.
00:02:45.039 --> 00:02:52.719
Um, not only with gas, um, but also with diesel and how that affects everything that's being transported by truck because that use diesel.
00:02:52.960 --> 00:02:53.199
No question.
00:02:53.599 --> 00:02:55.840
Gas gas uh prices are definitely an issue.
00:02:56.080 --> 00:02:57.199
We're seeing it in the showroom.
00:02:57.520 --> 00:03:05.199
We're also the dealers that I'm talking to have said that there is an increase in EVs uh interest, interest in EVs as well as hybrids because of this.
00:03:05.360 --> 00:03:13.919
They don't know how much longer this is gonna last, but it's put them in the mindset of saying, you know what, regardless of how long it's gonna last, maybe it's just time for us to look at an EV or a hybrid.
00:03:14.319 --> 00:03:14.800
Right, yeah, right.
00:03:15.120 --> 00:03:16.800
Because it doesn't seem to be getting any better.
00:03:17.039 --> 00:03:20.240
Because I mean before the the conflict the prices were high as well.
00:03:20.319 --> 00:03:21.039
So that's right.
00:03:21.199 --> 00:03:21.680
Um yeah.
00:03:21.919 --> 00:03:25.520
So we'll see, we'll be paying close attention to that as well.
00:03:26.240 --> 00:03:32.879
So unfortunately, on a sad note, we want to recognize the passing of longtime Ford executive Jim O'Connor.
00:03:33.199 --> 00:03:36.479
O'Connor spent more than 40 years with the Ford Motor Company.
00:03:36.879 --> 00:03:37.199
That's right.
00:03:37.360 --> 00:03:43.520
During his career, he served as president of Ford of Canada, president of Lincoln Mercury, and president of the Ford Division.
00:03:43.599 --> 00:03:50.879
Uh he retired in 2004 as group vice president of North American Marketing and Sales and Service.
00:03:51.280 --> 00:03:52.879
Jim O'Connor was 83.
00:03:52.960 --> 00:03:57.680
Our thoughts are with his family and the many people he worked with throughout the industry.
00:03:58.000 --> 00:03:58.400
That's right.
00:03:58.560 --> 00:04:02.479
I had the pleasure of meeting Jim at an NADA convention many years ago.
00:04:02.560 --> 00:04:07.199
He's a larger-than-life individual and a great friend to so many people in the industry.
00:04:07.280 --> 00:04:08.400
He was an awesome guy.
00:04:08.560 --> 00:04:20.879
Uh, David Cain and Chris Saraceno will be joining me on a special edition of Inside Automotive to talk about the impact that Jim had in retail automotive industry and as well as the impact that he had in their lives.
00:04:20.959 --> 00:04:24.079
So stay tuned to cbtnews.com for that show.
00:04:24.160 --> 00:04:25.279
It'll be coming up this week.
00:04:25.600 --> 00:04:26.079
That'll be nice.
00:04:26.319 --> 00:04:26.959
Yeah, that'll be great.
00:04:27.040 --> 00:04:28.000
So look forward to that.
00:04:28.240 --> 00:04:33.839
As you all know, I love how social media has become a big part of how dealers connect with customers.
00:04:34.000 --> 00:04:38.720
And uh, we've been talking to more and more dealers about, you know, what's actually working.
00:04:38.879 --> 00:04:42.959
So I follow this general manager from a Buick GMC dealership in Stewart, Florida.
00:04:43.040 --> 00:04:48.000
His name's JC Pratt, and he's known as the Good GM on social media.
00:04:48.160 --> 00:04:50.319
So uh check out this montage real quick.
00:04:50.480 --> 00:04:51.600
You probably will recognize it.
00:04:51.839 --> 00:04:57.680
I talked to a guy that was trying to get a job here, and he's leaving because of the way the store he's at is currently ran.
00:04:57.759 --> 00:04:58.480
So listen to this.
00:04:58.720 --> 00:05:00.000
So, what do you guys think about this one?
00:05:00.079 --> 00:05:07.519
So, you got a salesperson on the floor that's a pretty good salesperson, but nobody gets along with him, he don't get along with nobody, but he wants to be a manager.
00:05:07.759 --> 00:05:16.879
You know, as part of my interview process, when I'm interviewing a salespeople that want to come work here for us, one of the questions that I asked them obviously is why do you want to leave where you are currently at right now?
00:05:17.040 --> 00:05:24.000
This vehicle right here happens to be the second most expensive GMC you can buy, and the MSRP is about$104,000.
00:05:24.480 --> 00:05:30.800
And if you by now don't know what vehicle this is, it's a Yukon XL AT4 Ultimate.
00:05:31.279 --> 00:05:41.839
All right, today we're getting a look at how JC is using social media to connect with not just car shoppers and his customers, but also salespeople and managers working within the industry.
00:05:42.000 --> 00:05:44.959
JC, thank you so much for joining us on CBT Live.
00:05:45.279 --> 00:05:45.920
Thank you, Bridget.
00:05:46.079 --> 00:05:46.560
Thanks, Jim.
00:05:46.639 --> 00:05:47.120
Great to be here.
00:05:47.199 --> 00:05:48.399
It's an honor to be on your show.
00:05:48.480 --> 00:05:48.720
Thank you.
00:05:49.040 --> 00:05:49.600
Well, good, good.
00:05:49.759 --> 00:05:50.800
It's an honor to have you here.
00:05:50.879 --> 00:05:54.560
I'm a big follower uh on social media and I love what you do.
00:05:54.720 --> 00:05:56.480
And uh so thanks for joining us.
00:05:56.639 --> 00:05:57.839
It is this has really been great.
00:05:58.000 --> 00:06:01.040
What made you decide to start putting yourself out there on social media?
00:06:01.360 --> 00:06:09.279
Well, here, so you know, back in the day I cut my teeth in this business in Chicago, grew up on uh doing all the advertising on network TV.
00:06:09.360 --> 00:06:16.319
I was kind of known as the uh as the infomercial king back in Chicago, doing a lot of stuff in Spanish and in English as well.
00:06:16.560 --> 00:06:36.720
And of course, with times changing, you know, I decided I had to surround myself with some good talented young people that really understood social media way better than I did, and uh got a quick lesson in the do's and the don'ts, and quickly realized after taking off with this thing that this is the way, this is the way now, it's the way of the future, and it's the way it's gonna be for a long time to come.
00:06:36.879 --> 00:06:42.480
So I embraced it, and it's really, really helped us take off tremendously in the store.
00:06:42.639 --> 00:06:45.199
Actually, today marks my four-year anniversary in the store.
00:06:45.439 --> 00:06:46.160
Happy anniversary!
00:06:46.959 --> 00:06:47.600
Yeah, thank you.
00:06:47.680 --> 00:06:47.920
Thank you.
00:06:48.000 --> 00:07:04.720
I've been working for the the the Starling family, they're great people for eight years, and this is the second store I run for them, but it's the first one that I really, really embraced the social media part of it, and it's really, really taken off, not just with consumers, uh, but with with you know people in the industry as well.
00:07:04.879 --> 00:07:08.720
I get calls all the time from people in the industry wanting advice.
00:07:08.879 --> 00:07:10.000
I get owners calling me.
00:07:10.079 --> 00:07:20.959
I was just on a trip in Aruba, uh a factory trip there, and I couldn't believe the amount of people that I did not know were coming up to me entire trip wanting to meet me, and they say they follow me and they like my content.
00:07:21.040 --> 00:07:22.000
It was a real eye-opener.
00:07:22.319 --> 00:07:23.759
Yeah, no, no question about it.
00:07:23.839 --> 00:07:25.519
And uh I love what you're doing.
00:07:25.600 --> 00:07:32.160
And but yours is a little bit of a different twist than most people that are on social media right now from the auto industry.
00:07:32.319 --> 00:07:34.000
Everybody's trying to get that lead going.
00:07:34.079 --> 00:07:43.199
Everybody's trying to connect with uh car shoppers and say, buy from us, we do business the great a great way, and you're gonna like us so much and have little funny videos.
00:07:43.360 --> 00:07:50.319
Yours, on the other hand, is just as much, I guess, for the car shopper uh as it is for industry uh types.
00:07:50.480 --> 00:08:11.759
I mean, whether you're selling cars, you're servicing vehicles, you're running dealerships, you're a sales manager, a desk manager, um you're you're really talking to the industry as a whole, and you're kind of pulling the curtain back a little bit, not in a negative way, by the way, uh, but really to kind of show car shoppers and us in the industry what it's really like uh, you know, managing a dealership.
00:08:11.920 --> 00:08:14.079
And uh I think that that's a great thing to do.
00:08:14.160 --> 00:08:21.040
And and I've got to believe that uh you're getting people, as you mentioned, that call you and say, you know, you're the kind of GM that I want to work for.
00:08:21.120 --> 00:08:22.079
Talk to me about that.
00:08:22.399 --> 00:08:31.680
Yeah, I I am, and I I get those messages all the time, and I just get people that just pop into the store from time to time, they're on vacation, they want to come visit the store, they want to come meet me.
00:08:31.839 --> 00:08:33.519
Uh I get tons of DMs.
00:08:33.600 --> 00:08:36.000
I I get on Zoom calls all the time with these people.
00:08:36.080 --> 00:08:37.440
I got owners calling me.
00:08:37.519 --> 00:08:55.519
I just recently had an owner come in here from New Jersey uh a few months ago with his wife and sat and spent the entire day with me, says he follows me, and he owns two dealerships out in New Jersey and and wanted to uh embrace our uh our volume uh uh business strategy, and he's doing great with it.
00:08:55.600 --> 00:09:12.320
And and I get customers walking in the showroom all the time as well that'll pull me to the side and tell me, hey man, you know, I I follow you, and I'm here to buy a car from you because I like the way you talk, and I like the way you take care of your customers and your transparency and how you treat your employees as well.
00:09:12.480 --> 00:09:14.159
And and that's what it's all about, you know.
00:09:14.320 --> 00:09:20.080
Yeah, making sure that everybody sees, you know, listen, the the industry has created a really bad name for themselves.
00:09:20.320 --> 00:09:20.639
It has.
00:09:21.120 --> 00:09:22.240
It's it's not a secret.
00:09:22.399 --> 00:09:22.799
Right.
00:09:23.039 --> 00:09:30.159
My mission, the Starlings mission, is to really change the perception of the car business for the general public.
00:09:30.240 --> 00:09:36.639
And all I can do is what I can control in my store, and the Starlings do the same thing in their stores, and uh, and it's working out great.
00:09:36.799 --> 00:09:37.200
That's right.
00:09:37.279 --> 00:09:38.559
Now, I would be remiss.
00:09:38.879 --> 00:09:50.639
We featured you on a previous show, as you it may have crossed your desk there, but uh, where you put it out there and you said, What is it called when somebody's trying to sell a car or buy a car, I should say, from a trade-in.
00:09:50.960 --> 00:09:55.279
I know because I've been around the industry so long, that's curbing cars, and it's a major no-no.
00:09:55.600 --> 00:09:59.360
Um, do is it okay to ask you what you ever did with that individual?
00:09:59.600 --> 00:10:00.879
Well, let me just say this.
00:10:00.960 --> 00:10:03.360
I don't I don't want to get into uh into specifics.
00:10:03.519 --> 00:10:06.960
All I can tell you is I promise you that won't be happening again at my school.
00:10:07.360 --> 00:10:12.080
And uh, and probably not for at least the next 10 years, because the word got around quickly.
00:10:12.159 --> 00:10:12.480
Yeah.
00:10:12.639 --> 00:10:15.600
Um, and uh, yeah, that's a that's a big, big no-no.
00:10:15.919 --> 00:10:16.399
Yeah, that's right.
00:10:16.639 --> 00:10:16.879
That's right.
00:10:17.039 --> 00:10:18.320
And you never know how you're gonna find out.
00:10:18.399 --> 00:10:30.879
Now, and I'm gonna tell you real quick how I found out the customer, uh, after they bought their their brand new vehicle, got a little buyer's remorse a week later, and figured out that maybe they really couldn't afford the payment like they thought they could and wanted to unwind the deal.
00:10:31.039 --> 00:10:31.600
Oh, there it goes.
00:10:34.240 --> 00:10:35.120
I'm gonna wind the deal.
00:10:35.200 --> 00:10:38.320
I don't want you to have something that you can't, you don't feel like you can afford.
00:10:38.480 --> 00:10:38.559
Right.
00:10:38.720 --> 00:10:40.159
And then he says, Well, how about my trade?
00:10:40.240 --> 00:10:41.360
I said, What trade?
00:10:41.600 --> 00:10:42.320
Oh, wow.
00:10:42.639 --> 00:10:45.279
So and so the cat got out of the bag at that point.
00:10:45.360 --> 00:10:50.000
I you know, I put my my detective cap on and and you know, flushed it all out of the system.
00:10:50.159 --> 00:10:51.039
But yeah.
00:10:51.840 --> 00:10:52.720
That's very unfortunate.
00:10:52.879 --> 00:11:01.600
The uh and I there, you know, in in defense of those in the industry, especially the newbies, as you know, sometimes they don't know that that's a major no-no in the industry.
00:11:01.759 --> 00:11:02.960
You just don't do that, you know.
00:11:03.039 --> 00:11:10.799
I'm giving the benefit of the doubt to some of those new salespeople out there that go, Oh, I just thought I could buy the car from you know from a s from a customer.
00:11:10.960 --> 00:11:13.279
But uh because we got some comments on that too.
00:11:13.360 --> 00:11:15.200
Uh I got one that said, I actually did that.
00:11:15.360 --> 00:11:16.799
I didn't know that was against the rules.
00:11:17.120 --> 00:11:18.879
So uh it's got it's gotta be in the rule book, you know.
00:11:19.759 --> 00:11:21.039
Very interesting in the comments for sure.
00:11:21.360 --> 00:11:22.960
Yes, yeah, there's no question about it.
00:11:23.120 --> 00:11:35.120
I love all of the scenarios that you bring up for the industry because I think that it's a it's a great uh training tool and opportunity to educate those in the industry as to what you should do and what you shouldn't do.
00:11:35.200 --> 00:11:39.840
And you talk as plain to the to the industry as you really do to the consumers out there.
00:11:40.000 --> 00:11:45.440
Have you heard from consumers and say, hey, you actually are teaching us a little bit about what happens in a showroom?
00:11:45.840 --> 00:11:46.240
100%.
00:11:46.639 --> 00:11:46.879
Yeah.
00:11:47.120 --> 00:11:50.879
And and and the way I know this is because it's hot, it's hard to measure this, right?
00:11:51.120 --> 00:11:58.320
But I I measure it with the amount of customers that look, we're the number one Buick GMC store in the whole district.
00:11:58.399 --> 00:12:01.519
And we bought this store five years ago, it was the worst performing one.
00:12:01.679 --> 00:12:01.919
Wow.
00:12:02.080 --> 00:12:06.799
We've gotten dealer of the year three years in a row and currently on track to get it again four years in a row.
00:12:07.039 --> 00:12:07.279
Nice.
00:12:07.440 --> 00:12:11.679
And you only do that, I mean, those prices are not given out for Christmas or for your birthday, right?
00:12:11.840 --> 00:12:12.080
Yeah, right.
00:12:12.559 --> 00:12:17.360
Hard work, taking good care of the customers, and the customers come through the store and they they walk right.
00:12:17.600 --> 00:12:19.600
I can see them staring at me from across the show.
00:12:19.840 --> 00:12:22.399
So I I know they're recognizing me, so I'll walk up to them.
00:12:22.720 --> 00:12:26.480
Hey, customers are telling me that they're following my videos.
00:12:26.559 --> 00:12:44.480
And I I I really find it like it's weird to me that they're that they're following this, but I'm glad they're following because they're seeing what I'm telling the industry, what we all should be doing, business the right way, taking good care of the customer, having good, transparent pricing, doing the right things.
00:12:44.639 --> 00:12:51.360
For example, that customer called me a week after he bought his car, figured out it was a little too much for him, and who unwind the deal after a week?
00:12:51.600 --> 00:12:52.080
No, I know.
00:12:52.320 --> 00:12:52.720
There's no question.
00:12:53.120 --> 00:12:54.320
I want to do business the right way.
00:12:54.480 --> 00:12:54.879
Right, right.
00:12:55.039 --> 00:13:12.159
Yeah, in fact, in many cases, and I know managing stores, when you do unwind a deal after a week or even ten days, nine times out of ten, they end up buying a lesser expensive car that does fit their budget, and then they tell everybody how great that experience was that you were open to taking a car back because it didn't fit their budget.
00:13:12.320 --> 00:13:13.360
So I'm with you on that.
00:13:13.440 --> 00:13:14.879
I th I think that that's a great move.
00:13:14.960 --> 00:13:18.080
And did in fact, did they buy another car that was less expensive?
00:13:18.879 --> 00:13:20.159
At this point, they have not.
00:13:20.399 --> 00:13:20.559
Okay.
00:13:20.960 --> 00:13:21.440
He will.
00:13:21.600 --> 00:13:22.720
He was very appreciative.
00:13:22.879 --> 00:13:27.600
I gave him back all of his money, he put fifteen hundred bucks down, gave him his money, got him his car back.
00:13:27.679 --> 00:13:28.000
Yeah.
00:13:28.159 --> 00:13:32.399
So he was very, very excited, and it it it it all ended on a very good note.
00:13:32.639 --> 00:13:33.039
That's good.
00:13:33.120 --> 00:13:33.600
That's great.
00:13:33.679 --> 00:13:34.080
That's great.
00:13:34.159 --> 00:13:38.159
So let me ask you this how many videos on average do you do a day?
00:13:38.320 --> 00:13:41.120
I mean, it just seems like you're cranking them out, but I could be wrong.
00:13:41.200 --> 00:13:42.799
Maybe you're only doing one a day.
00:13:43.120 --> 00:13:45.279
So there was a point where I was doing them every day.
00:13:45.440 --> 00:13:45.679
Okay.
00:13:45.759 --> 00:13:49.200
Um, by the way, so you're obviously watching the good GM.
00:13:49.360 --> 00:13:52.399
We also have another one for the Stewart channel for the store.
00:13:52.480 --> 00:13:55.120
Uh it's called Starling Buick GMC Stewart.
00:13:55.200 --> 00:13:57.759
We put three or four out a week on that as well.
00:13:57.919 --> 00:14:01.360
And it's also uh a lot for the consumer.
00:14:01.679 --> 00:14:09.200
Uh so I have the good GM, the Stewart channel, and between the two of those, we're probably putting out about four to five videos a week.
00:14:09.519 --> 00:14:10.159
A week, okay.
00:14:10.399 --> 00:14:18.159
Now, as it relates to the good GM, I really like to do videos that really resonate with the industry and with customers.
00:14:18.320 --> 00:14:23.919
I don't want to do videos just to do videos, even though people say, hey, you know, if you want to go viral, you gotta do a video every day.
00:14:24.159 --> 00:14:25.279
It's not about that to me.
00:14:25.360 --> 00:14:30.960
It's it's about just really talking about the things that are pertinent to both consumers and people in the industry.
00:14:31.200 --> 00:14:31.440
Yeah.
00:14:31.600 --> 00:14:34.559
What social media platform gets the best results for you?
00:14:35.200 --> 00:14:36.799
I I gotta tell you, TikTok.
00:14:36.960 --> 00:14:37.600
TikTok, yeah.
00:14:37.759 --> 00:14:40.000
You know, when it comes when it comes to this, TikTok.
00:14:40.159 --> 00:14:44.399
I don't have as many followers as I do on Instagram for some reason.
00:14:44.639 --> 00:14:50.000
Although um I did have a little bit of an uptick there when you guys uh ran that story for me.
00:14:50.080 --> 00:14:51.519
So thanks for the additional uh.
00:14:52.000 --> 00:14:53.279
Well, you'll get some on this one too.
00:14:53.600 --> 00:14:54.960
Yeah, I owe it to you guys.
00:14:55.039 --> 00:14:55.279
Thank you.
00:14:55.600 --> 00:14:56.159
No, that's great.
00:14:56.320 --> 00:15:06.080
So let me ask you this what do you suggest to salespeople that are watching right now, and managers for that matter, but many that are managing dealerships as you are, uh, with regard to social media?
00:15:06.240 --> 00:15:08.639
Jump in, get in front of the camera.
00:15:08.960 --> 00:15:11.840
Jump in, get your feet wet, don't be camera shy.
00:15:12.000 --> 00:15:15.600
Once you do it three or four or five times, you're gonna start getting a flow with it.
00:15:15.679 --> 00:15:16.000
Yeah.
00:15:16.159 --> 00:15:21.200
Um, and and and really embrace it because this is the now and it's the future.
00:15:21.600 --> 00:15:23.759
And if you don't start going now, I told Mr.
00:15:23.840 --> 00:15:25.600
Starling three years ago, Mr.
00:15:25.679 --> 00:15:30.159
Starling, I'm gonna turn this into the social media store in our district.
00:15:30.320 --> 00:15:36.399
And it's gonna start right here, and we are gonna be and he's he got a little nervous, I'm not gonna lie, because a lot of people are afraid of social media stuff.
00:15:36.480 --> 00:15:37.360
Oh, sure, no question.
00:15:37.679 --> 00:15:43.360
And and and so he had a lot, he had so much trust in me that he said, okay, go ahead, just be real careful.
00:15:43.519 --> 00:15:44.320
Well, guess what?
00:15:44.559 --> 00:15:46.639
Now we're doing it at all of his stores.
00:15:46.799 --> 00:15:48.639
We've hired uh marketing crew.
00:15:48.720 --> 00:15:51.360
I mean, we we it's a big organization now.
00:15:51.519 --> 00:15:53.279
Uh it's a big, it's a big thing now.
00:15:53.360 --> 00:15:57.840
It's not it's not just me doing it, it's it's all of our stores doing it, and everybody's really embraced it.
00:15:58.080 --> 00:15:59.279
That that is fantastic.
00:15:59.440 --> 00:16:12.240
And to be uh a number one in your district in what I know to be, because I cut my teeth in South Florida, a little uh further south than where you are, but uh to be selling GMCs and Buick's highly competitive.
00:16:12.399 --> 00:16:18.240
I mean, it's it's it's as you know, so many retirees are uh very tied to those two brands.
00:16:18.320 --> 00:16:24.559
And uh, you know, as you know, a lot of retirees have nothing but time on their hands, so they will shop a deal, Bridget.
00:16:24.720 --> 00:16:27.519
No, I'm not kidding, for a hundred dollars from store to store.
00:16:27.759 --> 00:16:28.320
I believe it's a good one.
00:16:28.480 --> 00:16:29.279
Am I right, JC?
00:16:29.519 --> 00:16:29.840
I believe it.
00:16:30.080 --> 00:16:34.879
Well, what's funny about that is you know, this is Stewart, Florida, a population 18,000.
00:16:35.039 --> 00:16:35.279
Right.
00:16:35.519 --> 00:16:37.200
Snowbird capital of the world.
00:16:37.360 --> 00:16:43.360
And when I took over the store four years ago, all I kept hearing is the snowbirds are gone, the snowbirds are gone, it's gonna be dead.
00:16:43.600 --> 00:16:45.679
Well, I haven't heard that in years anymore.
00:16:46.000 --> 00:16:52.000
We got rid of that because we are bringing people from all over the place now with social media.
00:16:52.320 --> 00:16:52.879
Isn't that great?
00:16:53.360 --> 00:16:58.559
People that are watching, managers, salespeople, take a listen to this because he's doing a phenomenal job.
00:16:58.720 --> 00:17:01.120
He's just really being himself on camera.
00:17:01.279 --> 00:17:05.519
You know, what you see is what you get, and that's what resonates with people, that authenticity.
00:17:05.599 --> 00:17:08.799
So you don't have to be polished and perfect and everything else.
00:17:08.960 --> 00:17:18.240
It's just be get out there and tell your dealership story the way JC is, and it it resonates with buyers, as well as those that are thinking about going to work for your business.
00:17:18.400 --> 00:17:24.319
I'm sure that, you know, if somebody sees these and they're in the industry, JC, they're going, This is the GM I want to work for.
00:17:24.400 --> 00:17:26.480
Which by the way, where did you come up with the good GM?
00:17:26.559 --> 00:17:33.440
I've heard of the good doctor and the good wife, but the good GM is a man that came up with the idea sitting right next to me right now.
00:17:33.519 --> 00:17:37.920
He's a great guy, and uh, you know, I he said, Hey, we're gonna call you the good GM.
00:17:38.000 --> 00:17:39.359
And I I was like, Man, I I don't know.
00:17:39.440 --> 00:17:41.519
It sounds like I'm making myself sound too important.
00:17:41.599 --> 00:17:43.759
But he says, No, we're gonna, that's what we're gonna roll with.
00:17:43.839 --> 00:17:46.480
And the next thing I I know, it's I'm the good GM.
00:17:46.559 --> 00:17:48.480
So, you know, hey, it is what it is.
00:17:48.640 --> 00:17:48.799
Sure.
00:17:49.039 --> 00:17:49.759
I'll roll with it.
00:17:49.839 --> 00:17:50.240
I like it.
00:17:50.319 --> 00:17:53.279
People know me as the good GM now, and uh all is good.
00:17:53.519 --> 00:17:54.000
Yep.
00:17:54.240 --> 00:17:54.720
We like it.
00:17:54.799 --> 00:17:55.759
Yeah, the good GM.
00:17:56.000 --> 00:17:56.240
Go ahead.
00:17:56.400 --> 00:17:57.359
Yes, thank you.
00:17:57.680 --> 00:18:00.720
So um, one last question for you, JC, before we let you go.
00:18:00.880 --> 00:18:01.599
What's next for you?
00:18:01.680 --> 00:18:07.119
You do you feel like you're just getting started, or what's the bigger vision for your content and where you're going with it?
00:18:07.440 --> 00:18:14.240
Well, I feel like we're just getting started, and um, and obviously we uh the starling organization wants to continue to grow.
00:18:14.319 --> 00:18:16.960
We're kind of we're continuously looking for more stores.
00:18:17.279 --> 00:18:19.200
Um I would like to grow with them, you know.
00:18:19.440 --> 00:18:26.079
I would like to have my own store one day soon and and continue uh to be with them as well.
00:18:26.240 --> 00:18:28.640
I never want to separate myself from the Starling family.
00:18:28.720 --> 00:18:29.920
They're they're wonderful people.
00:18:30.079 --> 00:18:33.359
I've been doing this for 42 years, and I've worked for some characters in my life.
00:18:33.440 --> 00:18:37.839
I've worked for some good people, but I've never worked for such great people like this.
00:18:37.920 --> 00:18:41.359
And I'm not just saying this, okay, to get you know a pat on the back for Mr.
00:18:41.440 --> 00:18:42.240
Starling later.
00:18:42.319 --> 00:18:42.480
Yeah.
00:18:42.640 --> 00:18:43.119
I mean it.
00:18:43.200 --> 00:18:47.759
My only regret in life is that I didn't meet him earlier on in my career because I'm in a great place.
00:18:47.920 --> 00:18:55.279
I work for great people, and I feel like there's a big bright future ahead of us for all of us in this in this entire uh organization.
00:18:55.519 --> 00:18:56.720
Yeah, no question about it.
00:18:56.799 --> 00:18:58.960
And and I know that he appreciates those comments.
00:18:59.119 --> 00:19:14.400
I it you can tell from your videos that the Starling family lets you run your deal, and that means, as a former GM myself, that means a lot because it's it's really hard to get the things done that you want to get done when you got the dealer that goes, No, do this, do don't do this, do this, don't do it.
00:19:14.559 --> 00:19:16.799
You're like, okay, well, I can't really run my own deal.
00:19:16.960 --> 00:19:18.720
But they clearly allow you to do that.
00:19:18.799 --> 00:19:22.319
And uh I gotta tell you, they I can't even tell you when the last time they were here.
00:19:22.400 --> 00:19:23.279
I talk to them all the time.
00:19:23.440 --> 00:19:23.599
Mr.
00:19:23.759 --> 00:19:28.720
Starling calls me at the end of every month to let me know, hey, great job, you hit up your injectives again.
00:19:28.880 --> 00:19:35.039
Uh, but no, they let me run my store, they let me, they they they give me uh a lot of uh latitude here.
00:19:35.119 --> 00:19:43.519
You know, I've always been of the opinion, you know, as for uh forgiveness instead of permission, anyways, and everything that I've done so far, they like.
00:19:43.759 --> 00:19:46.319
We've come up with a lot of good stuff and and and they love it.
00:19:46.400 --> 00:19:49.920
And they've incorporated it into their other stores as well.
00:19:50.559 --> 00:19:54.559
I think Sterling Pratt's got a nice bring to it for the next store.
00:19:54.880 --> 00:19:55.200
You know what I mean?
00:19:55.359 --> 00:19:56.400
Sterling Pratt's?
00:19:56.559 --> 00:20:01.519
I mean, that's uh I have a quick comment here from one of our from one of our viewers.
00:20:02.319 --> 00:20:05.200
I'll tell you what, you know, I'm big into manifesting.
00:20:05.680 --> 00:20:06.079
There you go.
00:20:06.400 --> 00:20:09.279
There you go, JC Pratt's Buick GMC.
00:20:09.839 --> 00:20:11.839
One of my uh my cabinets here in my office.
00:20:12.079 --> 00:20:12.400
I love it.
00:20:12.640 --> 00:20:14.720
I keep it, I keep it in front of me.
00:20:15.119 --> 00:20:16.720
So I think it's coming.
00:20:16.799 --> 00:20:18.319
If you can see it in your mind, that's right.
00:20:18.720 --> 00:20:19.200
Hold it in your hand.
00:20:19.599 --> 00:20:20.240
That's exactly right.
00:20:20.319 --> 00:20:21.839
By the way, you're also Cuban, right?
00:20:22.400 --> 00:20:22.960
Cuban born?
00:20:23.200 --> 00:20:24.559
Yes, my parents were born in Cuba.
00:20:24.720 --> 00:20:24.960
Okay.
00:20:25.200 --> 00:20:29.039
Um, all of my family, except my younger brother and I were born in uh in Chicago.
00:20:29.920 --> 00:20:31.440
Everybody was born in Cuba except him and I.
00:20:31.599 --> 00:20:33.200
So born and raised in Chicago, yes.
00:20:33.440 --> 00:20:33.759
That's right.
00:20:37.440 --> 00:20:43.680
Bridget and I had the pleasure of uh joining a group for a dealer uh uh dealer trip to Cuba, and it was fascinating.
00:20:43.839 --> 00:20:44.240
It really was.
00:20:44.720 --> 00:20:45.279
Yeah, yeah, yeah.
00:20:45.599 --> 00:20:45.920
Really something.
00:20:46.000 --> 00:20:48.559
Yeah, that opened up to everybody.
00:20:48.799 --> 00:20:50.240
I know, I know, absolutely.
00:20:50.559 --> 00:20:51.920
So we I think we did have a comment.
00:20:52.079 --> 00:20:59.279
How have you found uh a good or have you found a good way to connect social engagement to appointments or sales?
00:21:00.720 --> 00:21:08.000
So yes, uh with with our page social Facebook and Instagram, that's doing really well for us.
00:21:08.160 --> 00:21:30.799
Every month we're coming out with new uh new videos regarding incentives on certain vehicles, whether it's Buick or GMC or talking about the GMCC era, but every single month uh the marketing crew shows up on the first of the month, the second of the month when the new incentives come out, and we spend the entire morning doing new videos for the new month.
00:21:30.880 --> 00:21:34.559
So, for example, uh the last day of the month here is Wednesday.
00:21:34.720 --> 00:21:36.480
By the way, I need a few more GMCs.
00:21:36.559 --> 00:21:40.079
So if you know anybody interested in buying a GMC, I'm giving some great deals.
00:21:41.759 --> 00:21:43.359
Never misses an opportunity, right?
00:21:43.599 --> 00:21:48.400
Hey, I gotta, I got I need I need 15 more GMCs, so and I'll I'll get them.
00:21:48.480 --> 00:21:51.359
We hit our we've hit our objectives all year so far this year.
00:21:51.519 --> 00:21:57.279
So but Facebook does really, really good for us with the paid uh advertisement, and so does Instagram.
00:21:57.440 --> 00:21:58.640
Okay, okay, good to know.
00:21:58.799 --> 00:21:59.759
Can't you sandbag those?
00:22:00.160 --> 00:22:03.759
Deal till next month and then just have a just you know have a have a really strong October.
00:22:07.519 --> 00:22:13.440
I was like the sandbag king when I was selling you just telling you South Florida still.
00:22:13.599 --> 00:22:22.160
That's exactly well, you know, JC, that you know they'll say, hey, if you hit 25 cars, you get X number of dollars, but they don't say anything about 26 cars, right?
00:22:22.319 --> 00:22:25.680
So you sell the 26 car, you go, that's going into next month, right?
00:22:25.759 --> 00:22:25.839
Yeah.
00:22:26.000 --> 00:22:26.960
You know what I'm talking about.
00:22:27.119 --> 00:22:30.640
Yeah, I know what you're talking about, but honestly, we don't do that at our store.
00:22:30.720 --> 00:22:34.480
Everything that we sell, we put it in, and every month has got a stand on its own.
00:22:34.640 --> 00:22:35.119
That's great.
00:22:35.200 --> 00:22:35.599
That's great.
00:22:35.839 --> 00:22:38.000
JC Pratz, thank you so much for joining us.
00:22:38.079 --> 00:22:39.680
This has been a real pleasure because I follow you.
00:22:39.759 --> 00:22:45.440
I get such a kick out of your videos, and you nail it on all those questions that you challenge the industry on.
00:22:45.519 --> 00:22:47.119
So thank you so much for what you do.
00:22:47.359 --> 00:22:51.039
Love to do a follow-up with you to see, uh, especially when you get your own dealership appointed.
00:22:51.519 --> 00:22:52.799
Yeah, you got it, Jim.
00:22:52.880 --> 00:22:53.759
Thank you so much, Bridget.
00:22:54.079 --> 00:22:54.880
Thank you for the time.
00:22:54.960 --> 00:22:56.559
It's been an honor to be on your show.
00:22:56.799 --> 00:22:57.119
Great, great.
00:23:00.079 --> 00:23:00.400
All right, great.
00:23:00.720 --> 00:23:02.640
We'll try to find you as other GMCs.
00:23:03.440 --> 00:23:03.759
Thank you.
00:23:03.839 --> 00:23:04.240
Have a great day.
00:23:04.559 --> 00:23:05.119
Hey, you too.
00:23:05.200 --> 00:23:05.519
Bye bye.
00:23:05.680 --> 00:23:06.000
All right.
00:23:06.160 --> 00:23:06.880
What a great guy.
00:23:07.039 --> 00:23:07.759
Yeah, he's great.
00:23:07.839 --> 00:23:08.640
Yeah, we've appreciated.
00:23:09.039 --> 00:23:12.000
As you know, I'm I'm I'm I'm I'm I'm like, here he is again.
00:23:12.079 --> 00:23:16.960
Check this because he'll bring up stuff in the industry that I'm like, that's exactly what happens.
00:23:17.119 --> 00:23:24.960
You know, whatever it was, whether curving cars or a guy coming in late, or what do you do with a top salesperson, you know, that doesn't follow and get in line.
00:23:25.119 --> 00:23:26.160
And he he talks about all that.
00:23:26.559 --> 00:23:26.640
Right.
00:23:26.720 --> 00:23:36.480
And like you said, all that's very helpful for the consumers and his customers, but also the industry as a whole, other GMs, I'm sure, are getting a lot of help from him as well as um salespeople and everyone.
00:23:36.799 --> 00:23:43.039
Yeah, and then and then on the side of your, you know, if you're a sale, if you're a desk manager, it's funny, he did one video recently on his desk managers.
00:23:43.119 --> 00:23:53.119
He kind of held the thing up and he said, Hey, here's how I do the, you know, the all of these desk managers were first F and I guys, you know, and then went into F and I and then became desk managers.
00:23:53.200 --> 00:23:54.400
And uh I thought that was interesting.
00:23:54.480 --> 00:24:05.759
I too did the same thing as an F because as if you're an FI industry or in the industry as an FI manager, it makes for a great desk manager because you can read a deal in 30 seconds.
00:24:05.839 --> 00:24:14.240
You know exactly what you're looking for, whether it be credit scores, terms, whatever, you know exactly where you're gonna put that, you know, that that buyer, you know what's gonna work best.
00:24:14.400 --> 00:24:15.039
So it really helps.
00:24:15.279 --> 00:24:15.839
It really does.
00:24:16.000 --> 00:24:16.480
It really does.
00:24:16.799 --> 00:24:21.599
So before we get to Derek Hansen from Cox Automotive, I would like to thank today's sponsor.
00:24:21.759 --> 00:24:23.359
Today's sponsor is Conversica.
00:24:23.599 --> 00:24:27.119
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The question is, are you reaching all of them?
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00:24:42.319 --> 00:24:43.119
Thank you, Conversica.
00:24:43.519 --> 00:24:43.759
Ignite.
00:24:44.079 --> 00:24:44.480
I love it.
00:24:44.640 --> 00:24:45.039
Yes.
00:24:45.519 --> 00:24:51.519
All right, affordability is changing what buyers want and what dealers need to stock heading into Q4.
00:24:51.920 --> 00:24:53.759
So, what does the used car market look like?
00:24:53.920 --> 00:25:04.400
We're joined live by Derek Hansen, Senior Vice President of Dealer, Lender and Inventory Management Solutions at Cox Automotive to talk about the current state of the used car sales and inventory.
00:25:04.559 --> 00:25:06.079
Derek, welcome into the show.
00:25:06.400 --> 00:25:07.759
Great to be with you, Jim Bridget.
00:25:07.920 --> 00:25:08.400
Thanks for having me.
00:25:08.559 --> 00:25:09.119
Yeah, absolutely.
00:25:09.200 --> 00:25:09.680
Good to see you.
00:25:09.839 --> 00:25:12.319
You got a lot of title, you got a lot of things under your title there, man.
00:25:12.480 --> 00:25:13.920
Lender and inventory management.
00:25:14.400 --> 00:25:18.559
So you are a busy young man there at Cox Automotive.
00:25:19.440 --> 00:25:20.000
That's great.
00:25:20.160 --> 00:25:20.559
That's great.
00:25:20.640 --> 00:25:21.920
So uh let's jump right in here.
00:25:22.000 --> 00:25:25.039
What's changed in the used car market as we head into Q4?
00:25:25.680 --> 00:25:32.000
Yeah, no, when we look at the market for 2026, I would say overall it's been surprisingly resilient, is a great word.
00:25:32.160 --> 00:25:39.759
But as we look at moving into Q4, demand is shifting, and it is a demand story because it's driven by affordability.
00:25:39.920 --> 00:25:44.160
And which vehicles can customers get into and comfortably finance?
00:25:44.319 --> 00:25:47.519
That's the piece that's really shaping the market as we head into Q4.
00:25:48.000 --> 00:25:54.400
And new vehicle sediment has shifted downward because of that, because of that affordability challenge.
00:25:54.559 --> 00:26:02.319
And so, the as our performance managers are working with dealers, the story right now, it's not top line inventory and what you have on the lot.
00:26:02.400 --> 00:26:10.960
It's do you have the inventory in the right price bands that will bring the consumers who are who are looking for that payment to really get something that they can drive affordably?
00:26:11.200 --> 00:26:12.000
Yeah, for sure.
00:26:12.240 --> 00:26:13.440
How are monthly payments?
00:26:13.519 --> 00:26:19.039
Uh high borrowing costs and longer ownership cycles impacting uh used demand.
00:26:19.440 --> 00:26:28.720
Yeah, no, we've seen a lot of headlines even in the last two weeks as you think about borrowing costs, and and they've remained surprisingly open throughout the market in 2026.
00:26:28.960 --> 00:26:33.200
But what where we're seeing the challenge, though, is because of those new car costs, right?
00:26:33.440 --> 00:26:36.559
They just crossed 50,000 again is the average new car price.
00:26:37.279 --> 00:26:41.119
That even with the broader credit access, those costs are still high.
00:26:41.200 --> 00:26:47.039
And so what's happening is the longer-term loans are really what's doing more of the work as far as affordability goes.
00:26:47.119 --> 00:26:50.640
And that's not necessarily the equation dealers want to be in.
00:26:50.799 --> 00:26:53.359
And so that really, again, pushes towards value.
00:26:53.440 --> 00:26:56.960
It's pushing shoppers towards value, which means late model used.
00:26:57.119 --> 00:27:03.200
We know there weren't as many cars manufactured in 21, 22, 23 because of the COVID pandemic.
00:27:03.359 --> 00:27:05.599
And so that's scarce inventory right now.
00:27:05.680 --> 00:27:06.880
And so that's the name of the game.
00:27:06.960 --> 00:27:12.319
It's really dealers finding the appropriate inventory, often late model used in those key price bands.
00:27:12.640 --> 00:27:17.599
So, Derek, if credit access is improving, why does affordability still feel strained?
00:27:18.000 --> 00:27:20.880
Yeah, it's a great question for all of us, really, as consumers, right?
00:27:20.960 --> 00:27:34.319
And and I think we're all feeling it as we go to the pump, you see where gas prices are, you go to the grocery store, you see where where groceries are, and so consumers are feeling it in every angle, whether it's the gas station, the grocery store, insurance costs, it's it's coming at them.
00:27:34.400 --> 00:27:39.519
And so that means they're that much more sensitive when they show up on the lot and try and fulfill their transportation needs.
00:27:39.680 --> 00:27:44.880
And that's where that payment becomes such a critical factor in in this K-shaped economy.
00:27:45.039 --> 00:27:54.000
More and more we're pushing towards late model use, we're pushing towards uh you know the affordability band that might have been a step or two below where they were three or four years ago.
00:27:54.559 --> 00:28:00.000
What should a healthy Q4 inventory mix look like by price point payment and turn?
00:28:00.559 --> 00:28:04.480
Yeah, and it's the it's the right question dealers should be asking themselves right now.
00:28:04.559 --> 00:28:10.960
And again, it's what I would encourage dealers is not to be focused on that top line revenue or excuse me, that top line inventory number.
00:28:11.119 --> 00:28:14.319
It's focused on those price bands that are moving quickly.
00:28:14.480 --> 00:28:17.839
And are you do you have the appropriate supply in those bands?
00:28:18.079 --> 00:28:19.519
And dealers are seeing it.
00:28:19.599 --> 00:28:21.519
They know those are the bands that are most scarce.
00:28:21.599 --> 00:28:25.680
That's where the prices are being driven up, that's where it's hardest to acquire the right inventory.
00:28:25.759 --> 00:28:37.039
And so making sure you're laser focused on those bands, because again, the demand is there, it's just in certain pockets, and you have to make sure you're executing within regards of those specific bands of inventory.
00:28:37.200 --> 00:28:37.359
Yeah.
00:28:37.759 --> 00:28:42.960
So which CRM and service lane signals um are identifying likely sellers?
00:28:43.359 --> 00:28:51.519
Yeah, Bridget, and that that is such a key question because as we just said, you know, the demand is there in certain pockets, and that's where all the dealers are focused.
00:28:51.599 --> 00:28:54.960
That's where prices are hard, that's where it's hard to acquire that right inventory at auction.
00:28:55.359 --> 00:29:02.400
And so that leads you to really converting sources within the rooftop of your dealership, like the service drive, like your CRM.
00:29:02.559 --> 00:29:04.000
These are your captive customers.
00:29:04.160 --> 00:29:08.319
This is reinforcing lifetime value of those relationships that you have.
00:29:08.480 --> 00:29:14.960
And so it's causing to really invest in those processes, in those workflows that allow you to acquire that inventory at the right price.
00:29:15.039 --> 00:29:31.680
And those who are able to execute well and connect departments, create a process that your team can get behind, they're able to create a couple more up, I will say a couple thousand dollars of opportunity on the gross margin front as they acquire those cars appropriately, because that is where the market is moving.
00:29:31.759 --> 00:29:36.160
That we know that the demand is there, we know the vehicles are turning, you have to acquire them right.
00:29:36.240 --> 00:29:40.319
And as you tap into those sources within the dealership, it creates real opportunity for the dealer.
00:29:40.480 --> 00:29:41.119
Yeah, for sure.
00:29:41.279 --> 00:29:46.480
Uh service drives we've seen turn into as much service drive as it is an acquisition drive.
00:29:46.640 --> 00:29:55.119
So so many service departments now are working hand in hand with the used car manager, used car department to, you know, dish up appraisals.
00:29:55.200 --> 00:29:58.799
And what makes an appraisal offer both realistic and compelling?
00:29:59.200 --> 00:30:03.039
Yeah, I mean that we've seen the convergence of those departments to your point, Jim.
00:30:03.119 --> 00:30:11.039
And and what we've seen also in that same time frame is consumers are smarter than they've ever been as they come into the purchase process, as they come into the disposal process, right?
00:30:11.119 --> 00:30:16.880
As they're selling a piece of inventory, they're they're on AI, they're researching the web.
00:30:17.039 --> 00:30:20.880
We've seen that stat as consumers come with more offers in the back pocket.
00:30:21.119 --> 00:30:30.160
So, as a dealer, what that means is you have to have a process that's transparent, that builds trust, and that is open and honest with the consumer.
00:30:30.559 --> 00:30:39.119
And as you do that, as you build that transparent process, as you bring in all the information for the good and for the bad about that vehicle, you have that relationship.
00:30:39.279 --> 00:30:44.480
You have that uh, you know, they've been uh a customer at your dealership, they've been in your service drive.
00:30:44.559 --> 00:30:44.640
Yeah.
00:30:44.799 --> 00:30:51.039
And what we see is that 70%, 4% of customers who are in your service drive, when they sell that vehicle, they're gonna buy a vehicle from you.
00:30:51.119 --> 00:30:59.279
So there's cascading benefit to the dealership as you execute appropriately, but it all starts with trust and being transparent as you bring that offer to bear.
00:30:59.440 --> 00:30:59.680
Yeah.
00:30:59.920 --> 00:31:04.480
So from your perspective, what moves should dealers be making in the next 30 days?
00:31:04.799 --> 00:31:09.200
Yeah, I think it really, you know, if I were to boil it down to three things, it's one, rebalance your inventory.
00:31:09.359 --> 00:31:15.359
Make sure you have, you've highlighted the bands where inventory is moving and that you're sourcing appropriately, you're building out your supply.
00:31:15.440 --> 00:31:16.960
That's number one, is rebalance.
00:31:17.119 --> 00:31:20.559
Number two is really activate those additional sources within a dealership.
00:31:20.640 --> 00:31:24.480
We mentioned the increased profitability, that means for the dealership, the increased lifetime value.
00:31:24.640 --> 00:31:29.279
Make sure you're connecting the departments, you're building the workflow, and you have something your team can get behind.
00:31:29.440 --> 00:31:31.519
And then number three is really protect turn.
00:31:31.839 --> 00:31:37.599
This is an environment where you can't lose sight of inventory that's outside of those bands, you can't let it go.
00:31:37.680 --> 00:31:48.720
So staying on top of turns, staying on top of your pricing, and really merchandising to tell the story of affordability, that what it means, not just top line price, but what it means to get a customer into that car.
00:31:48.880 --> 00:31:50.000
That's the name of the game right now.
00:31:50.079 --> 00:31:52.880
And those who can execute, there's a lot of opportunity in the market.
00:31:53.119 --> 00:32:00.160
Yeah, if you had to have one takeaway from today for dealers and what they should remember headed into Q4, what would it be?
00:32:00.480 --> 00:32:05.839
Yeah, I think the takeaway would be right where we left off that the opportunity in this market is real, but it's concentrated.
00:32:05.920 --> 00:32:06.000
Yeah.
00:32:06.160 --> 00:32:10.640
And so you have to execute with those customers that you have in the rooftop, acquiring the cars appropriately.
00:32:10.720 --> 00:32:18.960
You have to execute, telling the story, and you really have to be on your game from an acquisition perspective so that you maintain velocity within those segments that are really turning vehicles.
00:32:19.200 --> 00:32:19.920
Yeah, for sure.
00:32:20.160 --> 00:32:22.079
Derek, thank you so much for joining us on the show.
00:32:22.160 --> 00:32:23.039
Very much appreciate it.
00:32:23.200 --> 00:32:25.759
Used cars is obviously a very hot topic.
00:32:25.839 --> 00:32:28.640
It has been now for some time for obvious reasons.
00:32:28.799 --> 00:32:39.759
The affordability situation that we find ourselves in that you mentioned at the top of the segment, that continues to apply pressure, but yet everybody needs used cars, and we can't do enough to get our hands on them.
00:32:39.920 --> 00:32:43.279
So uh your talk today is uh certainly very timely.
00:32:43.359 --> 00:32:44.400
So thank you so much for joining us.
00:32:44.480 --> 00:32:45.039
Very much appreciated.
00:32:45.279 --> 00:32:45.759
Yeah, thank you both.
00:32:45.920 --> 00:32:46.640
A lot of opportunity there.
00:32:46.720 --> 00:32:47.519
I appreciate what you're doing.
00:32:47.599 --> 00:32:47.839
Thank you.
00:32:48.000 --> 00:32:48.799
Thanks.
00:32:49.599 --> 00:32:50.880
Always great having Derek on.
00:32:51.039 --> 00:32:54.079
Yeah, he's been on with us so many times for so long.
00:32:54.319 --> 00:32:54.799
We go way back.
00:32:55.039 --> 00:32:55.519
I know great.
00:32:55.599 --> 00:32:57.440
Yeah, he should be part of the anchor team.
00:32:57.920 --> 00:32:58.640
He does a good job.
00:32:59.039 --> 00:33:00.720
Things don't work out over there at Craig's American.
00:33:01.759 --> 00:33:03.359
That little company comes great.
00:33:04.400 --> 00:33:05.599
That's exactly right.
00:33:06.559 --> 00:33:07.599
All right, everyone.
00:33:07.759 --> 00:33:09.200
Thank you so much for joining us today.
00:33:09.359 --> 00:33:14.880
Before we leave, be sure to head over to cbtnews.com for more great conversations like this.
00:33:15.039 --> 00:33:25.119
And also be sure to like, follow, and subscribe on all of our socials or wherever you like to get your content to make sure you don't miss a live show or any of the great content that we're providing.
00:33:25.279 --> 00:33:31.839
Any of these great interviews and newsletter, Jim's tips that he likes to do, Jim's social media clips.
00:33:32.160 --> 00:33:34.319
Sometimes I go I go off the deep end.
00:33:34.400 --> 00:33:38.240
You know, I get so passionate about the about the industry, you know.
00:33:38.559 --> 00:33:39.920
But uh we are so fortunate here.
00:33:40.000 --> 00:33:44.720
We've got so many great people that uh come into CBT News and now CBT Live.
00:33:44.880 --> 00:33:55.519
What what's cool about this show is that we can talk about things right up to the moment, you know, where before we you know we would record something and then maybe some things would change by the time we recorded it and then posted it.
00:33:55.680 --> 00:33:56.240
But live is on.
00:33:56.720 --> 00:34:00.960
We were turning things around pretty quickly, but things happen within hours here these days.
00:34:01.119 --> 00:34:05.680
So and this is five days a week uh lunchtime, 12 noon, unless you're in California.
00:34:05.759 --> 00:34:07.119
That's then it's then it's breakfast time.
00:34:07.359 --> 00:34:08.960
So have breakfast or lunch with us every day.
00:34:09.199 --> 00:34:09.440
That's right.
00:34:09.679 --> 00:34:10.400
Monday through Friday.
00:34:10.639 --> 00:34:11.599
Thanks for watching, everyone.
00:34:11.679 --> 00:34:13.039
We'll see you right back here tomorrow.
00:34:13.119 --> 00:34:14.239
Yeah, noon Eastern.
00:34:14.480 --> 00:34:14.719
That's right.
00:34:14.880 --> 00:34:15.760
Go make it a great day.
00:34:30.800 --> 00:34:41.840
Interviews in the glass wall, price tags up in the laptop, leaders up with the margins, please, supply chain choke in the body's freeze, new card views gonna play every number of things on the Thursday night.
