In this episode, I'm speaking with Joel Bassam, President of Easterns Automotive Group.

00:00 - Intro
02:03 - Joel's background
05:15 - Easterns business model
13:06 - Weathering the current market
20:19 - Unit economics & Sourcing
30:37 - CDG's gov't auction story
36:21 - Revenues & Margins
42:28 - Marketing strategy
54:12 - Growth & Expansion
59:23 - Wrapping up

Follow Joel:
@jbassam2 on Twitter.
Joel's LinkedIn.
Easterns.com.

Please take a moment to visit this episode's sponsor:
⁠Fullpath⁠ – Discover Automotive's Leading Customer Data and Experience Platform.
Turn your first-party data into customers for life with ⁠Fullpath⁠. 

Check out ⁠⁠⁠the website⁠⁠⁠ for more and follow me on Twitter ⁠@GuyDealership⁠! Interested in advertising with CarDealershipGuy? Join the sponsor waitlist ⁠⁠⁠here⁠⁠⁠. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

#17 Shocking revelation about car dealer profits, Exploiting seasonality in the business, When CDG bought 100 cars with a credit card | Joel Bassam, President of Eastern Motors

Car Dealership Guy — the internet's viral car dealer and market commentator — engages in authentic and insightful conversations with auto industry leaders, innovators and investors.

Watch and listen to new episodes every Tuesday and Thursday, and check us out on Twitter, LinkedIn, Instagram, and YouTube for all the best moments from the show.

Automotive

Games & Hobbies

Leisure

Welcome to the third episode of The Car Dealership Guy Market Update—Brought to you by Edmunds.

This segment is a monthly discussion with automotive industry experts and dealers about where our car market is today -- and where it may headed.

From insider-only dealership insights to macroeconomic trends, my goal is to make you smarter and more informed about the state of our car market in less than an hour.
 
Let's get into it!

This episode of the Car Dealership Guy Podcast is brought to you by:

Edmunds - Don't miss out on this opportunity to elevate your dealership's visibility and sales performance. You can sign up for Premier today - https://edmu.in/4bXcEIr

Car Dealership Guy News - The #1 source for concise and unbiased car industry news. Stay informed with the most relevant and interesting stories by visiting https://cdg.news

Interested in advertising with Car Dealership Guy? Drop us a line here

Interested in being considered as a guest on the podcast? Add your name here

Topics:
(00:00:00) - Intro
(00:02:28) - Why is a GM at a Toyota dealership getting into the content game?
(00:07:27) - Market updates & and dealership reports
(00:22:24) - Toyota’s day's supply incentives
(00:24:16) - Car buyers are coming back to the market
(00:28:49) - The state of hybrid market share 
(00:34:26) - What are you seeing in the used EV market?
(00:37:51) - Do you see a staunch anti-EV customer base?
(00:39:23) - The state of consumer health and interest rates
(00:45:32) - Zac’s inventory strategy
(00:47:23) - TikTok Live
(00:49:46) - Edmund’s online shopping survey
(01:02:00) - What trends are you excited about for the rest of 2024?

Check out Edmunds here - https://edmu.in/4bXcEIr

Checkout Rohrman Toyota here - https://www.rohrmantoyota.com/

Check out the website for more (https://dealershipguy.com) and follow me on X @GuyDealership! (https://x.com/guydealership)

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

#88 CDG Market Update: Why the car business looks like 2008, Selling cars on TikTok Live, Payment shock hits car buyers | Jessica Caldwell, Head of Insights at Edmunds and Zac Kinch, General Manager o

Welcome to the Car Dealership Guy Podcast. In this episode, I'm speaking with David Thomas, Director of Content Marketing at CDK Global where we discuss: The future of EVs in America, Car market says “What recession?”, Why 70% of EV owners will never go back, How China is tipping the scales on EV production and much more!

This episode of the Car Dealership Guy Podcast is brought to you by:

Auto Hauler Exchange - The Auto Hauler Exchange has revolutionized the way vehicle haulers and vehicle shippers collaborate. The Exchange is the first digital marketplace of its kind in the vehicle logistics industry. Learn more @ https://www.autohaulerexchange.com/

Private Auto - The safest way to buy vehicles privately. Use code ‘CDG’ to list your car for free. Learn more @ https://privateauto.com/

CDK Global - Empowering dealers with the tools and technology to build deeper customer relationships.
Learn more @ https://www.cdkglobal.com/dealership-xperience-platform

Car Dealership Guy Industry Job Board - Connecting world-class talent with top-notch companies in Automotive. Find your next role—or start hiring today—at CDGJobs.com.

Interested in advertising with Car Dealership Guy? Drop us a line here

Interested in being considered as a guest on the podcast? Add your name here

Topics:
(00:00:00) - Intro
(00:02:30) - David’s career and background
(00:06:03) - The state of the car market
(00:11:05) - Where are we at today with how “easy” it is for consumers to buy a car?
(00:16:40) - What’s the state of EVs in the market?
(00:32:52) - If you had to place your bet on one automaker to win the EV strategy, who would it be? 
(00:35:24) - What are you seeing as best practices for EV servicing?
(00:41:25) - What’s your opinion on the possibility of cheap EVs coming in from China?
(00:49:19) - What’s your short-term outlook for EVs?

Check out CDK Insights here.

Check out the website for more (https://dealershipguy.com) and follow me on X @GuyDealership! (https://x.com/guydealership)

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

#87 Exposing the Future of EV's, Why 70% of EV owners will never go back, Car market says “what recession?” | David Thomas, Director of Content Marketing at CDK Global

Welcome to the Car Dealership Guy Podcast. In this episode, I'm speaking with Michael Kelley, General Manager of Bourne's Auto Center, where we discuss: How to build a used car dealership empire, Crushing $125M in sales in one location, "Cigars and P&L statements", Turning recon into a profit center and much more!

This episode of the Car Dealership Guy Podcast is brought to you by:

Uber for Business - With Central, you can request a ride on behalf of your customers even if they don’t have the Uber app. If you’re ready to reduce the costs associated with maintaining shuttles and limit the liability of loaner vehicles, it's time to partner with Uber. Visit t.uber.com/CDGauto today

Cars Commerce - The platform to simplify everything about buying and selling cars. Learn more at https://www.carscommerce.inc/

Car Dealership Guy Industry Job Board - Connecting world-class talent with top-notch companies in Automotive. Find your next role—or start hiring today—at CDGJobs.com.

Interested in advertising with Car Dealership Guy? Drop us a line here

Interested in being considered as a guest on the podcast? Add your name here

Topics:
(00:00:00) - Intro
(00:03:34) - Michael’s career in auto
(00:05:37) - What are the high-level numbers for your dealership?
(00:08:06) - What is your sales structure?
(00:10:06) - What are your margins today?
(00:16:43) - How are you managing your reconditioning center?
(00:20:29) - How are you approaching your value lot?
(00:24:05) - What’s your appraisal process?
(00:26:03) - How do you share reconditioning with customers?
(00:27:16) - What is your sales process?
(00:33:33) - What is your customer demographic?
(00:36:00) - What is the value proposition you market to get people to come to your store?
(00:37:52- How much are your salespeople making?
(00:40:28) - How are you acquiring used cars?
(00:45:07) - Inventory carry costs
(00:46:59) - What’s your role in the business?
(00:47:42) - Michael’s Florida experience
(00:59:43) - Have you ever considered going franchise?
(01:01:52) - Get in touch with Michael

Check out Bourne's Auto Center here.

Check out the website for more (https://dealershipguy.com) and follow me on X @GuyDealership! (https://x.com/guydealership)

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

#86 Building a used car dealership empire, $125M in sales in one location, "Cigars and P&L statements", Turning recon into a profit center | Michael Kelley, General Manager of Bourne's Auto Center

Welcome to the Car Dealership Guy Podcast. In this episode, I'm speaking with Nate Mihalovich, CEO of The Lasso where we discuss: His journey from $300M exit to transforming how dealers buy cars, Which retailers pay the most for customer trade-ins, surprising dealership growth hacks, How dealers out-compete Carmax and Carvana and much more!

This episode is brought to you by:

CDK Global - Empowering dealers with the tools and technology to build deeper customer relationships.
Learn more @ https://www.cdkglobal.com/dealership-xperience-platform

Auto Hauler Exchange - The Auto Hauler Exchange has revolutionized the way vehicle haulers and vehicle shippers collaborate. The Exchange is the first digital marketplace of its kind in the vehicle logistics industry. Learn more @ https://www.autohaulerexchange.com/

Car Dealership Guy Industry Job Board - Connecting world-class talent with top-notch companies in Automotive. Find your next role—or start hiring today—at CDGJobs.com.

The Lasso - The best way to get multiple offers for your car. Learn more @ https://www.thelasso.com/cdg
 
Interested in advertising with Car Dealership Guy? Drop us a line here

Interested in being considered as a guest on the podcast? Add your name here

Topics:
(00:00:00) - Intro
(00:02:39) - How did you get from tech to the car business?
(00:05:31) - What did you set out to build in 2020?
(00:10:52) - What is the value proposition for dealers and why do consumers sell this way?
(00:19:41) - What’s your total volume of vehicle transactions?
(00:22:43) - How do you handle issues with a customer selling their vehicle?
(00:28:52) - What are dealers telling you right now?
(00:32:10) - What are you seeing in the market right now?
(00:34:43) - What do you see for the future of traditional auctions?
(00:39:14) - The importance of having a dealer’s license

Check out The Lasso here - https://www.thelasso.com/

Get in touch with Nate here - Nate@thelasso.com

Check out the website for more (https://dealershipguy.com) and follow me on X @GuyDealership! (https://x.com/guydealership)

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

#85 Transforming how dealers buy cars, Exiting for $300M, Surprising dealership growth hacks, Which retailers pay the most for customer trade-ins? | Nate Mihalovich, CEO of The Lasso

Welcome to the Car Dealership Guy Podcast. In this episode, I'm speaking with Rita Case, CEO of Rick Case Automotive where we discuss: Secrets to building the largest Honda store in the U.S., Betting big on small brands, How leasing took over Florida, becoming a philanthropist disguised as a car dealer and much more!

This episode of the Car Dealership Guy Podcast is brought to you by:

Podium - Whether it's providing accurate answers or keeping leads warm with follow-up questions, Podium's AI solution keeps customers engaged throughout their car shopping journey and sounds like a human on the other end. Check out Podium's AI BDC today by texting ‘CDG’ to (706) 710-2303 or visiting them online @ https://bit.ly/3wHfhPJ

Foureyes - Foureyes supports sellers with a complementary skillset that elevates their performance. This includes automated lead logging, personalized inventory updates based on shoppers’ interests, and real-time alerts when a prospect is back on your website. Learn more @ Foureyes.io

Car Dealership Guy Industry Job Board - Connecting world-class talent with top-notch companies in Automotive. Find your next role—or start hiring today—at CDGJobs.com.

Interested in advertising with Car Dealership Guy? Drop us a line here

Interested in being considered as a guest on the podcast? Add your name here

Topics:
(00:00:00) - Intro
(00:02:08) - The Case Duo & Rita’s car background
(00:06:29) - Do you recommend working with your spouse?\
(00:09:50) - How have you reinvented your operations and marketing?
(00:15:29) - What drives your philanthropic nature?
(00:17:56) - Why did you choose these southern markets?
(00:21:29) - How does your Ft. Lauderdale Honda store operate?
(00:30:45) - What’s a day like for GMs at your dealerships?
(00:32:39) - How are the GMs compensated?
(00:36:26) - How are you driving recruitment of talent?
(00:38:17) - Are there any regional trends you’re riding when it comes to affordability?
(00:45:48) - How are you viewing your used car business?
(00:46:57) - What’s exciting to you these days?
(00:48:37) - What’s your outlook for the industry?

Check out Rick Case Automotive here.

Check out the website for more (https://dealershipguy.com) and follow me on X @GuyDealership! (https://x.com/guydealership)

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.

#84 Secrets to building the largest Honda store in the U.S., Betting big on small brands, 100% commission pay plans, Why leasing took over Florida, Philanthropist disguised as a car dealer? | Rita Cas

#17 Shocking revelation about car dealer profits, Exploiting seasonality in the business, When CDG bought 100 cars with a credit card | Joel Bassam, President of Eastern Motors

Download our free app to listen on your phone