This episode is brought to you by:
KEYper Systems - Key Management Simplified.
Fullpath - Discover Automotive's Leading Customer Data and Experience Platform.
In this episode, I'm speaking with Rick Ricart, President of Ricart Automotive.
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00:00 - Intro
02:40 - The Ricart Family & Rick’s background
08:08 - Sponsorship deals in the era of NIL (Name, Image, Likeness)
12:29 - Marketing, media, crafting company culture
19:46 - Ricart’s unique business model
28:30 - Ricart’s fastest-growing division
35:03 - Optimizing the online buying experience
50:02 - Lending, negative equity, repossessions
54:00 - Rick’s marketing idea that didn’t get picked up
56:55 - Inside look at OEM politics and EV rumors
1:01:40 - How manufacturers will change and adapt to new market trends
1:08:00 - Software and investing in the future
1:14:19 - Wrapping up
Follow Rick:
@RickRicart on X.
Rickart Automotive's website.
Check out the website for more and follow me on X @GuyDealership!
This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.
#65 How luxury dealerships make money, Selling a Lamborghini for Bitcoin, His net worth, Biggest wins and losses | CJ Wilson, Owner and GM of Porsche Fresno
#64 Selling $200M/yr of used cars, Losing money on every car but still profiting, Can he succeed where other dealerships have failed? | Eli Hanna, Dealer Principal of Hanna Cars
#63 Crushing 70M+ vehicle recalls, From infantry officer to chief executive officer, Technology fatigue in the car business | Ryan Maher, CEO of BizzyCar
#62 Leadership masterclass from world's #1 Honda Dealer, Pushing $1 Billion in sales, the birth of the 24-hr service center | Brian Benstock, Partner & General Manager/VP of Paragon Honda
#61 Accounting mistakes costing dealers thousands, $800k stolen by a dealership controller, EV mandates clashing with consumer demand | Frank O'Brien, Partner at Withum
#60 Building the future of automotive retailing AI, Pivoting from fashion to cars, Acquiring a tech company in Eastern Europe | Devin Daly, CEO of Impel
#59 Becoming a #1 Volvo Dealership, $300M in revenue from "throwaway" brands, The "Great EV Recession" | Matthew Haiken, President of Prestige Collection Auto Group
#58 Leadership lessons from working for Elon, Raising millions to reimagine the dealership, why he has no exit plan | Jay Vijayan, CEO of Tekion
#57 Evolving the dealership service department, Adapting to a possible EV future, Getting acquired by a $7T company | Chad Brooks, Head of Dealer Development at Valvoline Global
#56 Building a $2B car auction app, "Gambling for car dealers", Artificial intelligence vs. actual intelligence | Joe Neiman, Co-Founder of ACV Auctions
#55 Double-digit increases in dealership auto theft, Adapting to the future of cars, Losing $10,000 a year in keys | Steve Baucom, President of KEYper Systems
#54 Leadership secrets of the world's #1 Toyota Dealer, Selling 25,000 cars a year, Lease returns crashing in 2024? | Doug Eroh, President and GM of Longo Toyota
#53 Solving the aging used car bubble, Saving dealers $48M with accurate appraisals, From porter to General Manager in 6 years | Brian Kramer, EVP of Cars Commerce
#52 Building a $6B car sales software empire, Electric vehicle revolution's slow start, China's strategy entering US car market | Brian MacDonald, CEO of CDK Global
#51 Secret weapon to dealership efficiency, Providing payment transparency to car shoppers, Solving dealership chokepoints, Lessons from building and selling a video game | David Domm, Co-Founder and
#50 Rise of Lease Here Pay Here dealerships, Innovating payment affordability, Subprime consumer health check | Tim Lawrence, CEO of LHPH Capital
#49 How A.I. is changing car buying forever, Who's job is up for grabs, Predicting car shopper behavior, Buying a car in 2024 vs 2030 | Aharon Horwitz, CEO of Fullpath
#48 Buy Here Pay Here secrets revealed, Managing 40% loan default rates, Financing customers that banks avoid, Crazy customer horror stories | Tiger Okeley, President at Oak Motors
#47 Managing $500M+ in dealership ad dollars, Uncovering marketing budgets, Do gimmicky dealership mailers work? | David Regn, Co-Founder & CEO of Stream Companies
#46 Selling $5.5B+ worth of car dealerships, State of the auto market, Most and least desirable brands, What’s next for dealership profits? | Alan Haig, President & Founder, Haig Partners (Part 2)
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