Carvana’s Value Tracker, Titan Tumbles, Crowdfunded Retirement

Paul Daly: 0:31Walking into Wednesday is how we're gonna say it today, walking in Wednesday. A little minutia to talk about but we're gonna really talk about Carvana zoo tracking value tracking tool, the Titan tumbling, and a crowdfunded retirement. The people really wanted my retirement. Kyle. You want to be the first contributor? $3 Come on.

‍Kyle Mountsier: 0:55

Are you Alice? coffee on your first day out?

Paul Daly: 0:58

No. All right. I'm finally good. Well, you

Kyle Mountsier: 1:01

don't buy crap coffee for I don't buy crap coffee. Yeah, someone last night. I went to a soccer game last night, which was apps I haven't even told you about. It was absolutely on. It was the best soccer game I've ever been to in my life. Whoa, that's a strong stay strong words for a Tuesday evening, nationalists. Like I've watched Man City play. I've watched the whole you know, everything US Men's National Team. This game was unbelievable. But on the way because that guy was like, I've we're talking about the coffee that we have in our church building. And I was like, Yeah, you should probably go get wholesale bags of this coffee. And he goes, I basically the comment was, yeah, we get this stuff from like a suburb north of Nashville called Hendersonville. And I was like, oh, you can't get good coffee in the burbs? He goes, he goes, I don't know if that snobbery or elitism or a bunch of stuff. But I was like, No, it's just reality. Like I

Paul Daly: 1:57

proved me wrong. I changed my mind changed my mind. You had the best soccer game of your life. I have one of the worst coughs cups of coffee in my life last night. No, because my daughter my 11 year olds at summer camp. And we it's about an hour and a half away and we got a call at 1030 The old like she's having a really hard time has been having a hard time. She wants you to come get her and we think it's a good idea. So we

settled up at 10: 2:19

30pm for a three hour round trip. And the only option was gas station coffee. You were like I got a big one. It was terrible than I got. I mean, I probably ended up drinking like a third of that. And then just like letting it be like, whatever. I'll just slap myself in the face to stay awake. Oh, man, we have a few things to talk about. But um, hey, you know what soda con is coming up in September. This is a good group here. We're gonna put a group on screen. We got Steve Greenfield, Mike Stanton lives of horses. And let me just tell you, they might just be together jamming on some topics we're working on the topics and the agenda in the session is going to be releasing those very, very soon. So stay tuned, you can go to a SOTU con.com and get your tickets and see the schedule of the loose schedule like overarching schedule, but that's going to be filled in quite a bit over the next

Kyle Mountsier: 3:07

seven days. And we can't promise high end coffee because their Starbucks shot but it won't be terrible. And the food will make up for it. Okay, oh, the

Paul Daly: 3:16

food is gonna be the food's gonna be fantastic. Right. And I don't know if you saw my LinkedIn postcard but the bathrooms are really really nice. They're so fancy. The bathrooms, it's probably bad for him to take video in the bathroom, but there's nobody there. It's just a preview. Alright, let's get into some bad form. Okay, look, there are things we could talk about. We're gonna breeze by them today. I'm gonna breeze by them because I just can't stand to talk about that much labor union or, you know, we cover profits. So we can talk about how UAW president Sean fain calls the Lantis contract proposal, trash. All kind of has a quarterly profits are up 78% year over year, but you probably already know that you're gonna see that six times today. So instead, we're going to talk about Carvana has introduced a new tool called the Carvanha value tracker allows customers to attain and monitor their vehicles valuation based on changing market conditions. Now we know we can get the value but this is a little different. The tool uses their proprietary technology and data from over 23rd party sources to provide a real time vehicle worth and kind of like a drip feed Andrew Dickerson. Carvana is Director of Engineering and special projects emphasize the tools aim is to demystify the car selling process by providing actionable insights on a regular basis to the car's actual value. He quoted he's quoted in the article by saying a car in a customer's driveway is likely one of the largest assets in their portfolio. And yet most have no idea at any given moment what that asset is worth with Carvanha is value tracker were dismissed demystifying car selling by offering insight into their value at any point in time, in a way that's actionable. Should they choose to sell. So basically, they put their details in and then it gives them customized value and it gives them a drip feed like every two weeks. And so I mean, I mean, this is A little note right

Kyle Mountsier: 5:00

back that yes, exactly the fact that this just now exists that we didn't copy, Zillow and Redfin. And all of those places that do this as a drip feed for your home earlier is mind boggling to beat. Now, I will say, the fact that we have mileage to deal with is definitely like an unknown factor in vehicle values. But you can start to assume someone's mileage, if you see that,

Paul Daly: 5:23

I wonder how they do that. Like, I wonder if they they like take the mileage in the year of the vehicle when you put it in. And they just kind of extrapolate that and average it out.

Kyle Mountsier: 5:31

Yeah, but here's the thing, here's the thing. If I look, I'm looking at you KBB Accu trade trade pending all these places, I'm looking at you to go find the vehicle mileage in the DMS and start to extrapolate real vehicle miles driven, understand exactly what's been done to that vehicle from all of that type of stuff, and start to provide values exactly like this. Yep, provided in the data into the CDP's that are all being worked on. So that the CDP's can then add marketing automation, just let's go people with this. It's literally game over like it called

Paul Daly: 6:07

you it's gonna get practical or vana can't compete. Period told you was gonna get practical today. And this is like kind of the end of or the beginning of the end of let me see what your trades worth, people are just going to come in knowing right or they're gonna have some I'm ready to sell it. You guys sent me this. And that's going to be a win loss. So the more we can be proactive on that. I mean, this is definitely a game changer that Tech's been out there, but Carvana pushing in this direction is going to spur adoption. And like you said, Kyle, I think we're gonna see this become a critical part of the marketing buying off the curb all that stuff. I

Kyle Mountsier: 6:41

mean, historically, we've, you know, back in like 2010 20 2015, there were a lot of companies like outsell deal activator. I'm trying to think like auto alert, the started to do this, but very, very equity driven. And they would go after that, like next car, right? And so they were always presenting a new payment or the next vehicle. And I think that that's where we got it wrong. As an industry. Zillow doesn't come out in that email and say, Hey, here's how much your your house is worth. And here's five others, they just leave it at, here's how much your house is worth. And they recognize that the that the move through is Oh, I could sell it right now. And so I think it's just as simple as like putting it in front of people on a regular basis. Especially if you have any sort of app within your dealership or to a customer login place. Man. I would be

Paul Daly: 7:36

like it would blow my mind if five people don't come to Nada with this as like, absolutely exhausted coming off a Carvana speaking and more than five people just want to take a second and say hello to the community who shows up in the live stream every morning, Adrian Good morning. Good morning, Jack Brian Ortega. And a new member Imran yesterday showed up in the live stream for Bangladesh. And Jordan Cox actually had him make a picture of Brian Ortega. And he posted it. Imran did a little Photoshop work. And so he's a new part of the community. Jason. Good morning. Jordan's up in the comments. Just

Kyle Mountsier: 8:14

Jason, does anyone think that Zillow and Redfin are accurate? And I think that there's a really like, oh, he says, the product is lack yet. There is a trust in the product lacking but we do have an opportunity as an industry because we have like that's why I'm saying that dealers that are seeing these cars, three, four, sometimes five times a year, just have the ability to inject way more data into that vehicle valuation and start to earn trust over a very short amount of time. Right?

Paul Daly: 8:43

Yeah, I think I think people look at Zillow and Redfin like as a general ballpark ballpark right you can see your neighbors your neighbor house but yeah you're right on the money there are so many more data points in a car right like real time comps the houses like I don't know one sold two weeks ago when sold three weeks ago cars like one sold six minutes ago. Yes,

Kyle Mountsier: 9:01

exactly. What if What if again? Yeah, if you put if if you were able to put in there like Oh, and here's seven others that are listed that are just oh, that's kind of

Unknown: 9:10

we're putting a we're bizdev and right now on the show. Come on, man. We ain't got time for regular old news we're doing we can help you we can help you with the same Speaking of things that needed a little help a little too late.

Paul Daly: 9:24

So the Nissan Titan has fallen as they announced Nissan announces the discontinuation of its full size pickup after 2024. Unable to rival giants like the Ford F 150. Chevy Silverado, Titan sales just never met expectations. They launched it in oh three I remember when they launched it. See I started my first business never achieved its sales target of one to 200,000 units a year highest sales at 7000 and just 15,000 units in 2022. Yeah. So more they saw more booths IDs are revealed. I don't know. But either way the Canton was Missouri plant with a titan As manufactured good news for them, it's just going to be retooled for EVs with no expected job losses. So it seems like a really great allocation of resources. They previously attempted to do. I never knew about this, with then RAM owner of FCA to make the Titan a rebadged Ram 1500 The deal fell through. I have no idea why have you seen the front end of that vehicle? Nice had previously attempted. While the Titan struggle Nissan midsize frontier truck, though has performed a lot better with 76,000 units in 2020. And that's going to have a much stronger position in the market moving forward and feel like a small pickup that feels very nice on a global truck.

Kyle Mountsier: 10:37

Yes, yeah. And globally, it does really, really well like it is it is a primary truck in the a lot of markets, a lot of foreign markets. So we ran you know, just over a year ago, on July 1, I think of last year, we ran the initial story where in our daily email, it was like, Hey, this is there's a good chance this is coming. So it looks like confirmation that it's absolutely not going to happen. So look, if you got 2023 hopes to get a Titan, you might as well get one now. And forever hold your peace.

Paul Daly: 11:11

Speaking forever holding your peace kinda retirement

Kyle Mountsier: 11:19

Hey, so look, if you can't go viral on Tiktok and get your retirement at the same time. What are we doing in this day and age?

Paul Daly: 11:27

Is that even worth anything?

Kyle Mountsier: 11:28

So is the internet worth anything last year? I don't know if you if you track this but a gentleman named Kevin Ford went viral on Tiktok for after 27 years of not missing a day of work at Burger King crazy, by the way, which is nuts. I can't even imagine that. This guy gets a bag of candy and a movie ticket.

Paul Daly: 11:50

One movie ticket one

Kyle Mountsier: 11:53

bring a friend you got some like lifesavers and a movie ticket. It was unbelievable. His his one of his daughters got a fun started out of this because there was so much visibility on him. And she was like, Hey, he might look young, but he has been doing this for 27 years. And he's done so much. He's put us through college. He's a single dad, he's we've always had like, we've always had health insurance like he is an incredible person. Let's raise money to get this guy to retirement. And just recently they passed for$100,000 A couple people like David Spade, droppin five grand on the donation and a bunch of like smaller donations and you read through the comments and it's just like, This is what people are here for like kudos to you for putting it you know it is hard work to get your girls through college to raise kids as a single dad and and just everybody throwing down the goodwill of the people serving Mr. Kevin Ford.

Paul Daly: 12:52

A couple of comments on this number one Kevin Ford with a name like that and a work ethic like that. I think you have a post retirement career in automotive. So hey, you need to come this way Kevin because I think you probably crush it in the automotive industry and you probably have a lot more fun than you do back work and Whopper board I worked at Burger King for one year I didn't miss a day at work at least

Kyle Mountsier: 13:13

someone get this guy someone get this guy in auto like someone send them a DM Absolutely. Let's do

Paul Daly: 13:18

this. This is this is the new trajectory. But but also I think it's a great reminder of how the auto industry is pretty good at celebrating people for milestones, right starting the old cut, we're gonna cut the tie on your first sale like there's just a culture around celebrating people and stories like this kind of help us remember how good we have it and not to take that for granted. Right?

Kyle Mountsier: 13:40

It's like hey, Brandon Taylor massive company, you know, and and they got a person that doesn't miss a day on the job for 27 So Burger King Well, Burger King and they're kind of defense at the time.

Paul Daly: 13:52

They said well that was actually kind of like given to him by HMS host who is kind of like a staffing and they they run Burger Kings you see their name on a lot of glittery seats at restaurants. However, however, Burger King had an amazing opportunity to like yeah, they

Kyle Mountsier: 14:06

should have franchise on everything. Absolutely it should have been over the top Yeah, it should have been come out yet yeah, no

Paul Daly: 14:13

that's that's not gonna come out but he's got 400 granted like start a nice retirement and get make his way give a little time to learn the auto industry because we're gonna get Kevin Ford into the industry

Kyle Mountsier: 14:22

so get them into the industry on official goal of a soda with this, we can celebrate people like only we know how to day I can tell you that. Let's

Paul Daly: 14:30

That's right. Well, we hope you have an amazing Wednesday. We hope you check out a solo con.com and get your ticket to join us in just like 47 days as the counter. And by the way, love people more than you love cars. It's kind of kind of the point

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