Inventory Is…UP!, Mobile Service Coming In Hot, Outta’ Paper, ChatGPT

The Automotive Troublemaker w/ Paul J Daly and Kyle Mountsier

Welcome to Tuesday as we talk about some good news with new car inventory, mobile service in the rise, the lack of the paper to print titles on, and give you the scoop on this ChatGPT thing.

• Cox Automotive data shows new inventory has increased by another 150K vehicles as presented in their Monthly Industry Update, produced by the Cox Automotive Economic and Industry Insights team

  • A stream of increases from June to now has 2022 sitting 78% higher than 2021 at the same point, although inventory is still significantly below that of 2019/2020.

  • November ended with 1.61M vehicles in dealer inventory, with some variation between brands based on day’s supply strategies.

  • Let’s remember - A return to 2019 inventory levels does not equal a return to 2019 dealership strategies.
    

• AutoNation, the largest US new-vehicle retailer, has agreed to acquire Los Angeles based RepairSmith for $190m to expand its on site service offering for $190M

  • Technicians visit customers' homes or workplaces to service individual cars, as well as dealerships and fleets

  • The acquisition is part of AutoNation's ongoing expansion into the after-sales service market

  • RepairSmith's investors include Mercedes-Benz and Porsche's venture capital arm, Porsche Ventures.

• As if we needed one more inconvenience at the Dealership, the specialized paper used to print vehicle titles has become scarce, causing delays and confusion for car dealers and owners.

  • An increase in cardboard production is partly to blame
  • Some states are prioritizing titles that are requiring immediate attention while Dealers are using power of attorney agreements to close deals
  • Digital titles anyone?
    

• What’s the deal with this ‘ChatGPT’ thing?

  • ChatGPT is a large language model trained by OpenAI that can generate human-like text on a wide range of topics based on the input provided by a user.
  • OpenAI is an artificial intelligence research laboratory focusing on developing and promoting friendly AI, looking to benefit humanity as a whole
  • Is an offline model that was trained in 2001 and yes, it can write your paper for you

Hosts: Paul J Daly and Kyle Mountsier
Get the Daily Push Back email at https://www.asotu.com/

JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/

Read our most recent email at: https://www.asotu.com/media/push-back-email