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.”
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