SEASON 7 | EPISODE 3

Join host Derek D as he sits down with Jake Pollack, a Partner at the Shackelford, Bowen, McKinley & Norton law firm and Dave Cantin, the CEO of the Dave Cantin Group. Dave and Jake uncover the misconceptions and importance of succession planning in the automotive industry, addressing not just immediate transitions but also long-term strategies for business continuity.

Discover why succession planning is more than just preparing for a sudden exit and why dealer principals need a plan in place to safeguard their legacy and ensure a smooth transition for future generations or potential buyers. Learn from real-life examples and gain valuable insights on assembling the right team and initiating the process effectively.

If you're an automotive executive or dealership owner, this episode is a must-listen.

Episode Highlights:

● Why Jake says delaying the creation of a succession plan can lead to complications and missed opportunities and therefore prefers to create plans as soon as his clients acquire a dealership or business.

● Jake’s advice on assembling the right team of professionals, including attorneys, CPAs, and financial advisors, to ensure a comprehensive and effective succession plan.

● Planning for voluntary and involuntary transitions, such as retirement or unforeseen events like incapacity, to avoid disruptions and maintain business continuity.

● How life insurance, private investments, or other assets can be utilized to equalize value among family members involved in the business, ensuring fairness and clarity in the succession process.

Join host Derek D as he speaks with Paul Mumma, a Partner at Kaiser Associates covering Private Equity and M&A, and Dave Cantin, the CEO of the Dave Cantin Group.

Derek, Dave, and Paul dive into the DCG Market Outlook Report, covering the 7 themes that will be crucial to 2024 including the future of EVs, M&A trends, manufacturer priorities, the political climate, used cars, and more.

Hear their point of view on what’s becoming increasingly important to a dealer’s bottom line and what will separate the ‘best’ from ‘average’ in terms of dealer performance. Learn which strategies manufacturers have to ‘reset’ and what consumers are saying loud and clear.

Listen or watch to get valuable insights and data-driven recommendations for making informed, strategic choices in 2024.

Episode Highlights:

• Changing consumer preferences are leading to adaptations of new dealership strategies. Parts and service have become increasingly important, and dealers need to prioritize these areas to maintain profitability.
• The report also addresses the future of electric vehicles, noting that consumer interest in true battery electric vehicles (BEVs) may be plateauing. Hybrid vehicles, on the other hand, continue to gain popularity. Manufacturers and dealers need to reassess their battery strategy and consider the evolving consumer preferences.
• M&A trends in the automotive industry are expected to remain strong in 2024. Dealership groups are actively seeking acquisition opportunities to expand their platforms and capitalize on the historic profits of the past few years. Succession planning is also a key consideration for many dealerships, as they look to pass the torch and ensure the long-term success of their businesses.

Notable Quotes from Paul Mumma:

• “Interest is definitely slowing or plateauing and while there is a lot of interest around hybrids, dealers and manufacturers are going to have to rethink the battery strategy.”
• “You’ve seen manufacturers acknowledging that they have to reset strategy…you can’t disagree with what consumers are saying loud and clear. They can’t force them to take something at a speed they don’t want.”

Join Dealer News Today host Derek D. and Dave Cantin, CEO of the Dave Cantin Group, for a conversation with Grant Cardone, entrepreneur, businessman, writer, philanthropist, and founder of 10X Studios.

Get to know Grant on a personal level as takes us through his troubled past to becoming a successful sales trainer and real estate investor. The conversation takes many turns as Grant discusses his belief in discipline over motivation, his one regret in life, who he is naming as his successor, the time he got screwed when he bet the head of the Discovery Network $1M of his own money, and the need for effective communication in business. He also discusses his journey into the real estate industry and his goal of becoming the largest real estate holder in the United States (bigger than BlackRock!).

Additional Episode Highlights:

• Emphasizing the importance of embracing change and being proactive in the face of industry disruptions. Grant encourages car dealers to adapt and evolve to stay ahead in the rapidly changing automotive landscape.
• Grant shares his personal experiences of failure and the lessons he learned from them. He emphasizes the value of discipline and persistence, even when faced with setbacks.
• Grant’s real estate investment journey and his goal of becoming the largest real estate holder in the United States. He shares his strategies for scaling his real estate portfolio and the potential for everyday people to invest in real estate through Cardone Capital.

About Grant Cardone:
Grant Cardone owns and operates over seven privately held companies, and a private equity real estate firm, Cardone Capital, with a multifamily portfolio of assets worth over $4 Billion. He is one of the Top Crowdfunders in the world, raising over $1.3 Billion in equity via social media. He is featured on Season 2 of Discovery Channel's Undercover Billionaire, where he takes on the challenge of building a million dollar business in 90 days. Grant is also a New York Times bestselling author of 11 business books, including The 10X Rule, which led to Cardone establishing the 10X Global Movement and the 10X Growth Conference, now the largest business and entrepreneur conference in the world. The online business and sales educational platforms he created serve over 450,000 individuals and Forbes 100 clients throughout the world. Voted the top Marketing Influencer to watch by Forbes, Cardone uses his massive 16 million plus following to give back via his Grant Cardone Foundation, a non-profit organization dedicated to mentoring underprivileged and troubled youth in financial literacy.

For more information visit https://grantcardone.com/

Jay Etheridge has an eclectic educational and professional background, having studied accounting and theology and trained as a paralegal, and he brings all of these skills and knowledge to the fore in his role as brand ambassador for Combat Motors. He served as CFO for the company that would become Combat Motors before transitioning to his current role in June 2020. In addition to promoting the Combat brand and its bikes at events throughout the year, Jay also works directly with domestic and international customers, giving him a unique perspective on what motorcycle buyers want and need.

In this episode, Jay joins our host Derek D to discuss the unique 30-plus-year story and journey of Combat Motors and his own expert insights on the evolution of the motorcycle industry today. Their conversation covers why the signature design elements of Combat bikes are key to the riding experience, how the company’s bespoke scale allows for customization and personal touches even though all the motorcycles it makes are production models, Jay’s experiences personally delivering customers’ orders, and more.

Episode Highlights:

• Why Combat Motors continues to focus on internal combustion engines despite industry trends toward electrification
• What Jay says it will take for Combat Motors to truly achieve international expansion
• Jay’s perspective on the pace of electric vehicle adoption and what will be the tipping points for mass electric vehicle ownership

"Once the technology is there, that I can charge my car and my batteries as fast as I can fill up my tank with gas, then the technology is ready."

— Jay Etheridge

|| Dealer News Today is a Dave Cantin Group production

Originally from “a wheat farm in the middle of nowhere” in Montana, Tyler Corder was an employee of GM Financing when he was transferred to Nevada and met the Findlay family - the rest is history, as he joined Findlay Automotive Group in 1994 and has been there ever since. Now working as both the CFO and COO of the company, Tyler has seen Findlay grow from four dealerships to 35 across Nevada, Arizona, Utah, Idaho, and Washington. Tyler has served in leadership roles for many charitable organizations, such as the American Red Cross of Southern Nevada and the Leukemia and Lymphoma Society, and he is currently on the boards of the Vegas Chamber of Commerce and the Foundation for an Independent Tomorrow.

In this episode, Tyler and our host Derek D discuss how geographic clustering has made operations easier for a large automotive group like Findlay, the effects that the UAW strike at the Big Three automakers’ factories could have on multiple aspects of the retail automotive business, and the unusual experiences that can happen at a Las Vegas car dealership. Plus, they take a deep dive into the current state of the automotive supply chain, cover affordability issues raised by interest rates, and more.

Findlay Automotive Group

Episode Highlights:

• Why many car manufacturers have switched their incentives from purchasing to leasing
• Why Tyler says the EV sector is currently a creation of the federal and state governments and tax programs rather than a consumer-driven industry
• How Findlay Auto Group is less tightly structured than public dealership groups of a similar size - and how that’s an advantage in terms of attracting talent

“It’s important that of the limited numbers of vehicles that are being shipped, we’re getting our share or more than our share.”

— Tyler Corder

|| Dealer News Today is a Dave Cantin Group production

Western Pennsylvania native Mike Lanciotti has been interested in RVs since his family had one in his childhood, and now oversees major specialty vehicle manufacturer REV Group’s recreational vehicle segment, primarily based in Indiana. Mike’s responsibilities cover all seven of REV’s RV-related brands, including Renegade RV, for which he served as president and CEO for almost eight years until the company was acquired by REV. His work helped shape Renegade as a premier name in Class C recreational vehicles as well as one of REV Group’s top brands. Mike holds his executive MBA from Baldwin Wallace University and a bachelor’s degree in accounting and mechanical engineering from Thiel College.

In this episode, Mike joins Derek D for an enlightening discussion about a lesser-known but very important part of the dealer-based industries. The conversation covers how the RV industry is reacting to reduced demand following big spikes at the height of the pandemic, how manufacturers adapt to wider consumer trends, and why making RVs more usable and more homelike is the wave of the future. Plus, Mike discusses nationwide RV dealership consolidation, the importance of lithium batteries and solar power in the industry, and more.

Mike Lanciotti | Renegade RV

Episode Highlights:

• The major barriers to RVs using the same kind of batteries as electric passenger cars
• Why travel trailers are the leading indicator of the health of the RV industry overall
• Why positive word-of-mouth is so important for RV dealerships, and how the industry is working to improve customer experience
• What makes RVs a great option for travelers who have a chronic health condition or disability

“To me, it’s important that we have the teams in production turn the dials in slow ways - ramp up slow, ramp down slow.”

— Mike Lanciotti

|| Dealer News Today is a Dave Cantin Group production

Mike Ferrer is based in Charleston, SC and has over 20 years of experience in high-level commercial real estate, having worked with major corporations such as Bank of America, PNC Bank, and Home Depot. He is designated as a Certified Commercial Investment Member (CCIM) and Master of Corporate Real Estate (MCR), and is bilingual in English and Spanish. Prior to joining Hickey and Associates, he held roles including broker-in-charge for the state of South Carolina at Lincoln Harris.

In this episode, Mike joins our host Derek D for an insightful conversation on the future of automotive retail and the role of commercial real estate in shaping it. They discuss how federal and state regulations will be the biggest drivers of EV adoption at the dealership level, why quick reaction to trends is crucial, and why electric vehicle viability will vary dramatically according to consumers’ locations and the kinds of jobs they have. Plus, the discussion covers the long-term effects of the CHIPS act on the automotive industry, searching for a viable vehicle power source beyond electricity, and more.

Mike Ferrer | Hickey and Associates


Episode Highlights:

• How the government incentives that Hickey and Associates tracked rose fifty-fold as a result of the COVID-19 pandemic
• Why the relative silence of EVs compared to internal-combustion cars can cause safety issues
• The importance of finding secondary uses for electric vehicle batteries

“There’s going to be a certain amount of pain pushed down to the dealers for EVs.”

— Mike Ferrer

|| Dealer News Today is a Dave Cantin Group production

Originally from Germany, Philipp Kampshoff was educated in institutions around the world from Singapore to Argentina and, in the process, now speaks three languages. He holds a Ph.D. in finance from RWTH Aachen in Germany and joined McKinsey & Company right after graduating college, where he now works as a senior partner in the company’s Houston, TX office. Philipp co-founded the McKinsey Center for Future Mobility (MCFM), and has recently worked with multiple OEMs to develop large-scale autonomous driving projects. He has also consulted for major cities including Dubai, Chicago, and Paris on their future-mobility plans.

In this episode, Philipp joins DNT to share his expert knowledge on future vehicle technology, particularly autonomous mobility. He and Derek D discuss the automotive industry’s evolving views on the timeline for level 4 autonomous vehicles (so-called full auto), what factors will predict the profitability of robotaxi services, and why we’re still a long way from having autonomous aviation. Plus, their conversation explores autonomous trucking, operating robotaxis and similar services in the congested streets of major cities, and more.

Philipp Kampshoff

Episode Highlights:

• Why robotaxi services will likely be much more prevalent in warmer cities
• How autonomous driving will give working people an hour of time back per day on average
• Why Philipp thinks the second half of the 21st century will be a turning point for autonomous vehicles

“It is hard to find an industry that is not impacted by future mobility trends.”

— Philipp Kampshoff

|| Dealer News Today is a Dave Cantin Group production