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Car Dealership Guy Podcast#26 Secret sauce of used car wholesaling, Biggest threat to used car auctions, Viability of zero-fee auction, Elon Musk and A.I. | Robert Hollenshead, Founder of RH Auto Sales and Accu-TradeThis episode is brought to you by:KEYper Systems - Key Management Simplified.Interested in advertising with CarDealershipGuy? Drop us a line hereInterested in being considered as a guest on the podcast? Add your name here In this episode, I'm speaking with Robert Hollenshead, Founder of R. Hollenshead Auto Sales and Accu-Trade.00:00 - Intro02:21 - Bob's background08:27 - Lack of transparency back in the day13:11 - Creating things the industry needed35:24 - Accu...2023-09-081h 08
The VIN-dow PodcastThey Aren't Selling Like They Were Three Weeks Ago!Inventory challenges continue to make headlines, but has the used car market shifted? "By the time you've ready about it in the Wall Street Journal, it's already too late." - The Wolf of Wall StreetFrom Robert Hollenshead's perspective, the market is softening, and cars aren't selling like they were 3-5-8 weeks ago. Inventory predictions for the latter half of 2021 have shifted after Ford receives a new batch of chips and prepares to ship thousands of F-series pickups.Buying inventory? The market is hot for creampuffs... always was, always will be. ...2021-07-1411 minThe VIN-dow PodcastThe Market is a GrindThis week we asked Bob, "What's happening in the market and what should dealers keep in mind when using market reports right now?"His answer... "Right now, market reports could be the worst thing you could refer to.... the market report is your enemy." Keep in mind:1. Expectations are not being met in the lanes. Sellers are not getting the money they were hoping to get and are no longer selling at 90%. We're seeing the average seller back selling around 40-50%.2. Market reports can't report no sales. Mar...2021-07-0211 minThe VIN-dow PodcastWhatever Goes Up, Will Come DownPodcast TranscriptIt’s been an absolutely irrational, insane market. So let’s talk about that, or talk about where it's going or what happens when it's over. Well, that's something do you know, let the steam out of the brain a little bit in that when you take a second to, you know, take a deep breath, cause you can't even believe that it's happening, what's happening. Right. You know, when you've been around this thing for half a century and at the time when your sneakers are running thin, you bump into...2021-05-1419 minThe VIN-dow PodcastReplacement Value - The Only Relevant Method Of Retail PricingIn this week's episode, Bob shares snapshots of data extracted from Galves and Accu-Trade to showcase why dealers should be buying and pricing based on replacement value, not retail. Accu-Trade has information totally unique to our industry because we are traders ourselves. “We are by nature traders. We have 1300 years of experience with our little group of folks that have been with us since the beginning of time, 1300 years, 1300 years, individual years of experience in the wholesale business valuation business. As a result, our data tends to be a little closer to reality. W...2021-04-2919 minThe VIN-dow PodcastThree Rules For Wholesale Profits At Your DealershipIn this week's VIN-dow podcast, Robert shares where wholesale profits are made and why wholesale is no longer a "dirty" word.The most successful publicly traded companies are not looking to break even wholesale. Check out their financial statements online. Where you find "wholesale", you will find profits. Carvana and Carmax are doing it!Three rules to follow to make a wholesale profit: 1) Buy right to sell right. Make profit when you acquire, not when you sell. Avoid getting welded into trades by having a measurable, repeatable process in place to trade frequently, and...2021-04-0721 minThe VIN-dow Podcast"Cheap" Cars With The "Double-Take Factor"In this week’s VIN-Dow podcast Bob explores “Cheap” cars. It’s a discussion worth listening to as we and automotive dealerships navigate the hyper-market we are currently in.Listen in as Bob defines:Those “cheap” cars that may seem cheap based on the market information at your disposal, but become very expensive when you can’t sell them.And the actual “cheap” cars, that have the “double-take factor” for your clientele that move the metal.The VIN-dow Podcast is brought to you by Accu-Trade. Do you want to improve your vehicle acquisitions with transactional transpare...2021-03-3021 minThe VIN-dow PodcastWhat's Good For The Goose Is Good for the GanderThe VIN-dow Podcast is brought to you by Accu-Trade. Do you want to improve your vehicle acquisitions with transactional transparency for your customers? What about the trade-in process? Developed by the largest independent wholesale dealer in history, Robert Hollenshead. It’s the same tool they use every day to do their job. Every lesson learned from over $20 Billion in transactions and 900 cumulative years in wholesale is built into the platform. All made easy to understand and available for anyone to use.Robert Hollenshead is a serial entrepreneur, the World's Largest Automotive wholesaler (R. Hollenshead Auto Sal...2021-03-0424 minThe VIN-dow PodcastWhat's The Future For Wholesale Marketplaces?The VIN-dow Podcast is brought to you by Accu-Trade. Do you want to improve your vehicle acquisitions with transactional transparency for your customers? What about the trade-in process? Developed by the largest independent wholesale dealer in history, Robert Hollenshead. It’s the same tool they use every day to do their job. Every lesson learned from over $20 Billion in transactions and 900 cumulative years in wholesale is built into the platform. All made easy to understand and available for anyone to use.Robert Hollenshead is a serial entrepreneur, the World's Largest Automotive wholesaler (R. Hollenshead Auto Sal...2021-02-2527 minThe VIN-dow PodcastLeverage The Used Car Invoice and STOP Overtrading.The VIN-dow Podcast is brought to you by Accu-Trade. Do you want to improve your vehicle acquisitions with transactional transparency for your customers? What about the trade-in process? Developed by the largest independent wholesale dealer in history, Robert Hollenshead. It’s the same tool they use every day to do their job. Every lesson learned from over $20 Billion in transactions and 900 cumulative years in wholesale is built into the platform. All made easy to understand and available for anyone to use.Robert Hollenshead is a serial entrepreneur, the World's Largest Automotive wholesaler (R. Hollenshead Auto Sal...2021-02-2427 minThe VIN-dow PodcastSelling Something For Less Out Of Fear? Not Anymore.The VIN-dow Podcast is brought to you by Accu-Trade. Do you want to improve your vehicle acquisitions with transactional transparency for your customers? What about the trade-in process? Developed by the largest independent wholesale dealer in history, Robert Hollenshead. It’s the same tool they use every day to do their job. Every lesson learned from over $20 Billion in transactions and 900 cumulative years in wholesale is built into the platform. All made easy to understand and available for anyone to use.Robert Hollenshead is a serial entrepreneur, the World's Largest Automotive wholesaler (R. Hollenshead Auto Sal...2021-02-1810 minThe VIN-dow PodcastSTORY TIME: Is This Toyota Store the BEST End User for an S-Class Mercedes?The VIN-dow Podcast is brought to you by Accu-Trade. Do you want to improve your vehicle acquisitions with transactional transparency for your customers? What about the trade-in process? Developed by the largest independent wholesale dealer in history, Robert Hollenshead. It’s the same tool they use every day to do their job. Every lesson learned from over $20 Billion in transactions and 900 cumulative years in wholesale is built into the platform. All made easy to understand and available for anyone to use.Robert Hollenshead is a serial entrepreneur, the World's Largest Automotive wholesaler (R. Hollenshead Auto Sale...2021-02-1208 minThe VIN-dow PodcastHow Do Independent Dealers Fit Into the Automotive Industry?Check out this and other episodes on Youtube. The VIN-dow Podcast is brought to you by Accu-Trade. Do you want to improve your vehicle acquisitions with transactional transparency for your customers? What about the trade-in process? Developed by the largest independent wholesale dealer in history, Robert Hollenshead. It’s the same tool they use every day to do their job. Every lesson learned from over $20 Billion in transactions and 900 cumulative years in wholesale is built into the platform. All made easy to understand and available for anyone to use.Robert Hollenshead is a s...2021-02-0527 minThe VIN-dow PodcastAre Vroom and Carvana The End of Car Dealers?Thank you for listening to this recording of The VIN-Dow Podcast with Robert Hollenshead, from January 14th, 2021. Check out the YouTube episode and other. The VIN-dow Podcast is brought to you by Accu-Trade. Do you want to improve your vehicle acquisitions with transactional transparency for your customers? What about the trade-in process? Developed by the largest independent wholesale dealer in history, Robert Hollenshead. It’s the same tool they use every day to do their job. Every lesson learned from over $20 Billion in transactions and 900 cumulative years in wholesale is buil...2021-01-2933 minThe VIN-dow PodcastAcquiring Cars In Your Service Lane? As You Should.Why should you be acquiring vehicles through service, and how you can do it? We can upload any spreadsheet into Accu-trade for an instant condition report and offer for every trade running through your shop. Previously, Bob spoke with Keith McCord from VIN-tel, an an OBD reader that decodes the truth of every VIN and instantly associates the diminished value in Accu-Trade. The transparency that is brought to the reality of every VIN has never been revealed before. "Every vehicle going through the shop is an opportunity. Your bank account doesn't understand if it was a r...2021-01-2228 minThe VIN-dow PodcastThe 5 W's of Automotive Wholesale in 2020Check out this episode and many others on YouTube. 1:23 When did dealers start buying cars directly from the public? 2:50 What is the epitome of the market that will never repeat itself? 3:33 What two things happen when you get your dealer license? The whole world knows that you’re a pile of dirt; You become the ultimate optimist. 4:02 Who does the automotive industry attract? Freedom lovers that aren’t afraid of work because they'll work as much as they want for themselves. 5:07 “At...2021-01-0831 minThe VIN-dow PodcastCan Your Dealership Deliver Like Amazon Prime or Carvana? Yes, it can."Uncertainty causes wars. Lack of communication, and uncertainty." "The rainbow of different needs of all categories of dealers it dictates that there has to be a common sensical, universal, agnostic set of solutions that let people have the capability of communicating with buyers and sellers, wholesale and retail." - Robert Hollenshead. Bob has built a suite of solutions that do just that: www.accu-trade.com Bob discusses how Carvana is selling partner inventory direct from dealers lots. They're doing the advertising and the source is happy to sell them this way. Carvana essentially bec...2021-01-0135 minThe VIN-dow PodcastAre You The BEST End User For Every Car?Target Retail aka: consumer selection. A number that is based on the characteristics of the VIN, mileage, equipment, colour, condition, history, keys, service history, etc in the retail market. Target Trade, aka: adverse selection, or STRIV: Short Term Residual Insurance Value, an underwritten number that dealers can base a trade value on. Target Auction, aka: conscious selection. This value is what you would anticipate the vehicle bringing in an auction marketplace if the best end user was present. By adding a data-driven process you can trade cars withou...2020-12-1725 minThe VIN-dow PodcastGetting Lucky in The Wholesale Market? Not Likely.You can't change something. In a retail market, there is the possibility of a higher price by adding warranty, better location, etc. Dealers can't hide vehicle characteristics. The full story will be revealed. In order to get market value for your home, it needs to be in tip top shape. (( Tune into this episode and many others on YouTube. ))The probability of you making money in the wholesale market is not the same as it is in the retail market. The same commodity... cars. Different probability of luck in the marketplace. How to in...2020-12-0328 minThe VIN-dow PodcastYou Won't Go To Hell If You Make A Wholesale ProfitCan you rationally communicate to the consumer why their vehicle is worth what it is? Once you can, they won't argue... they have two eyeballs as well. How did dealers think about wholesale profit 40 years ago and what has changed since then? What if there was a process to help the consumer understand where their trade in value was coming from? New car dealers don't look at every car as an opportunity to make a profit. If it doesn't fit their retail makeup, they often assume that the vehicle is going to be a l...2020-11-1927 min