#44 Making millions from Parts & Service, Dealership incentives, Economic concerns, Record profits and Daryl’s favorite auto franchises | Daryl Kenningham, CEO at Group 1 Automotive

Car Dealership Guy Podcast

In this episode, I'm speaking with Daryl Kenningham, CEO at Group 1 Automotive

This episode is brought to you by:

Cars Commerce - The platform to simplify everything about buying and selling cars. To learn how you can measure and improve your team’s follow-up performance, visit carscommerce.inc/experience

Dealer Image Pro - A car with bad photos sends the wrong message about your dealership. Photo Assistant improves your photos and increases speed-to-market. Head over to makemyphotosgreatagain.com to learn more.

Interested in advertising with CarDealershipGuy? Drop us a line here

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

Topics:

(00:00:00) - Intro

(00:03:08) - The founding story of Group One

(00:05:47) - Moving from OEM to the dealership side of the business

(00:07:52) - What was the driving force behind going international?

(00:12:24) - OEM’s appreciation for dealer networks

(00:14:07) - Consumer feelings about dealerships

(00:16:07) - Incentive programs

(00:17:17) - Daryl’s favorite brands and opportunities right now

(00:18:06) - Manufacturers side-stepping dealer laws

(00:19:21) - Differentiating in service

(00:24:31) - Is there any technology you’re investing in?

(00:25:50) - Pick up and Delivery for Service

(00:29:00) - What do you look for in new acquisitions?

(00:30:55) - Are there brands you’re avoiding right now?

(00:31:44) - Rebranding acquisitions to fit the brand

(00:34:17) - How do you structure your operations?

(00:37:15) - Growing while remaining a community-branded dealership

(00:38:31) - Operating leverage and economies of scale for dealerships

(00:41:17) - Are you seeing an increase in staff turnover?

(00:42:55) - Pricing pressure on cars

(00:48:41) - How are you thinking about your company over the next 3-5 years?

Check out Group 1 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.