DEALERS

Back to Basics PT.2 With All Things Used Cars

Great companies and athletes alike always keep sight of the basics. Chances are some basics fell out of focus while profits have been high, but with a possible recession on the horizon, David Long and the All Things Used Cars community turned their attention to recession-proofing their business by sharing these essentials some may overlook.

The full replay of part 2 and set a reminder for Part 3 on Clubhouse

🪜 Step Zero. What narrative are you subscribing to? Check your attitude, check out energy, and check your approach. Almost any process will work for you if your focus is in the right place. Don't "Recession Prove" when you are trying to be recession-proof.

☎️ Re-Engage with customers. Did somebody come to your service lane months ago with a vehicle you want in your inventory? Call them up and make an offer. Worst case, they say "no," and you can clean up your CRM.

🎥 Be personal. Make videos. Show off what is special. Youtube Shorts is a newer feature on the platform that offers a low-barrier way to engage with your customers organically that shows your team's personality.

🔑 Step Zero (Part 2?). Make sure the inventory is ready. Where are the keys? Is the car clean? How's the battery? Where is it parked?

⌛️ Control what you can control. Aged inventory will bleed your profits dry. Aged inventory will bleed you dry. Tell yourself the truth about each car on day one so you can move it appropriately.

📖 "A story told is a car sold." Don't just list features; tell stories. When showing a car to a customer, see the person and connect the features to their story. Practice during lot walks.

📢 Evacuation Factor = Job security. You aren't done teaching your team when you've said something. Don't be repetitive, but remember your job as the leader is to keep people's minds on the vision and how to make it come true.

Telling it like it is - The note we cannot share is the energy in these conversations. There is a community of experienced and intelligent people investing in the success of people who, by other industry standards, would be considered competitors to be defeated. It's good times; we hope you join if you have not already.

AUTOMOTIVE

Wyoming Banning EVs?

We know you've seen the headline "Wyoming bans EVs" floating around, and if you have not, it may mean you get your news only from us, to which we say, "Aw, shucks y'all!"

But what is going on in Wyoming? Six state Senators have sponsored a bill calling for the ban of electric vehicle sales by 2035 to protect the state's most significant revenue source, fossil fuel.

Why? 16.6% (68,600 jobs) of the state's total employment and 25.6% ($6B) of its labor income is in the natural gas and oil industry.

Telling it like it is - Some sources are calling it an answer to California-style ICE bans, while others say it is a symbolic political gesture aimed at the White House. What do you think?

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AUTOMOTIVE

Toyota: Retro, Hopeful, and Low Maintenance

Retro Futurism. Toyota is showing off 80s Corollas with 2023 tech. The company revealed two AE86s at the Tokyo Auto Salon show outfitted with upgrades:

Lexus electrification tech
hybrid parts from a Tundra & Prius
a truck motor
and manual transmission
all packed into a retro 1980s body.

The company built a second AE86 powered by hydrogen that feels and sounds like an ICE vehicle but has no emissions.

High Hopes. Toyota says they could produce 10.6M vehicles this year. They expect the 2022 fiscal year, ending in April 2023, will hit their 9.2M vehicle forecast. They say they see a potential 10% risk to the projection based on the usual suspects.

Low Maintenance. A report issued by CarEdge.com ranked brands and models by maintenance expenses over 5 and 10 years. Toyota took the top spot with an average 5-year maintenance cost of about $1,600.

Rounding out the lowest maintenance cost brands are:
Mitsubishi
Honda
Volkswagen
Nissan
Mazda
Kia
MINI
GMC
Hyundai

Telling it like it is - Toyota is deepening its relationship with two important markets - zero-emission vehicles and nostalgia.

QUICK HITS

EVs hit 10% of global market share.
Twitter wooing brands back to the platform by matching ad spending up to $250K.
Scientists have used lasers to direct lightning bolts. It’s as wild as it sounds.

CULTURE

Memes, Games, and Flip Phones

🐔

Popeyes signed a Name, Image, and Likeness deal with the college football player Dieunerst Collin- AKA The Popeyes Kid. A vine turned viral meme/reaction gif, the Popeyes kid has been making rounds for over 9 years.

Now that Dieunerst is making a name for himself on the field, the meme has resurfaced, and he entered a deal to promote the chicken chain. Details of what he is getting out of the deal are not public, but he did share that other brands have been reaching out to work with him since the news broke.

📦

Metal Gear Solid is getting a remake. According to some leaked news, the Playstation 1 classic remake will be announced before May 2023. Of course, leaks can be lies, announcements can be backtracked, and video game remakes never live up to your memory. This still feels like something to celebrate.

📵

Are flip phones the new polaroids? We didn't see it coming. According to some media outlets, teens have aimed their obsession ray at 90s-era phones for the ability to (at least partially) disconnect for the first time in their lives and take low-quality pictures.

We hesitate to lump all teens together, at the behest of CNN, so we looked on TikTok and found a substantial number of young folks are indeed showcasing flip phones and claiming they will take over 2023.

TL:DR - A classic meme star is also really good at football. The game Chris has completed more times than any other game is getting a remake. Flip phones are making a humble comeback?