Selling For The BIGGEST Bucks, Bye Bye Bolt, Free Gas on the 4th

Paul Daly: 0:27Good morning,Thursday. First day of summer is behind us now. Like we're rolling around big. Today we're talking about a dealership selling for the biggest bucks.who buy the Chevy Bolt free gas on the poor?

‍Unknown: 0:41

The people really want

Paul Daly: 0:42

actually, you probably can't see it now you can't see. I have a lightning bolt on my shirt today. Do you really do I chose this before the show was built so

Kyle Mountsier: 0:54

I'll kill this guy. He's really swinging

Paul Daly: 0:57

for endorsement there in

Kyle Mountsier: 1:02

that's good.Hey, man was here for Thursday.Well, yeah,

Paul Daly: 1:05

it was your first day back after a few days. Yesterday treat. Yeah.

Kyle Mountsier: 1:09

I'm telling you what, everybody knows what this feeling is like, I get home yesterday. Kind of staring across the table. My wife looks at me. She's like, what's up?

Paul Daly: 1:20

Wednesday was like a Thursday.

Kyle Mountsier: 1:23

I was like,Wednesday was like, it was like three Mondays compiled together.You know? Like when when everything is like, oh my goodness, everything's so behind. But also everything's moving so fast. And here comes you know, that's how yesterday felt? I don't know. You take off. Yeah, out of the office for a week. And it's like,everything goes it happens

Paul Daly: 1:47

right and you were you were coming right off of like an event we right. So it had like tonight, more than cars filming into a family wedding or something? And didn't you like?Yo,

Kyle Mountsier: 2:01

that more often?

Paul Daly: 2:02

Um, how is this thing with more? Speaking of

Kyle Mountsier: 2:05

more than cars,Paul? What? We did not record episode two last week, but we did if you have not caught or told your friends or your family members, or your friends or family members, friends and family members, family members.Yeah, let's check out more than cars. Share with everyone to go to more than cars.tv. Watch it you can watch back through the live stream on LinkedIn or on YouTube. Whichever one floats your boat. If you can get it on the Smart TV or the whole nine yards. Check it out. Share it with people it's only 24 What 24and a half minutes. It's real quick, fast and moves. It's a TV show. It's fun. Tonight watching with your family share with you so

Paul Daly: 2:48

much better than Doom scrolling through Netflix, or Amazon Prime. If you're looking for something to catch on the evening that isn't that nonsense. Go to morning cars,it's real stories, real people in the industry that you already love. And Episode Two is going to level it up so much. It is going to be an utterly painful experience cutting what we shot down like four minutes utterly painful. I think we're going to have to like have like a director's cut and extended version will have the content else because you have no idea.The Amazing things happen in the industry, which is why we're making the show. Yeah,

Kyle Mountsier: 3:23

speaking of Episode 202, Minnesota Con last year, but we're doing number two this year. And speaking of doing things way bigger and better.We're going away. You gotta get your tickets to go to Canada so to con.com ticket prices go up on July 1 Yeah, last week at the lowest price don't miss the cut y'all. And let's give you a pro tip. So it's it's just you and us on the stream coming coming.

Paul Daly: 3:54

You want to book your tickets soon so you can book your hotel soon so you can get in the main hotel, we have like200 Plus rooms allocated but those are going to be gone super fast. I think last year a solo con was like less than half the size and we booked out 195 rooms and in a heartbeat. So like if there is a reason to book early aside from saving the 100 bucks or so do it so you can book the hotel rooms first so that you closest to us can be literally closest to us. So speaking of100 bucks or so oh they were paying me nine quite Yeah $100bills fallen off his wagon as it was driving down the road in a record breaking transaction.Florida bass al Hendrickson Toyota, the second busiest dealership in the United States has been sold to the Morgan Automotive Group in what has become the most expensive dealer purchase in the history. I'll finish that sentence of the world's the lead. All the money the landmark deal facilitate Did exclusively by Haig partners underscores a vibrant dealership by cell market undeterred by the ongoing uncertainties of the COVID pandemic. So listen, this is a 30 plus year family dealership, Al Hendrickson Jr.said in a press release, I always knew I wanted to be in business with my dad. And I'm so incredibly fortunate to have had the opportunity to spend the last 30 plus years working with him and learning from him. Our approach to business has always been that we're not the car business, rather, we are in the people business, we love this guy. Alright.

Kyle Mountsier: 5:34

Now let's go.

Paul Daly: 5:35

So he said, we live by our slogan, it's all about you, and providing exceptional customer service, making it a point to know all of our 200Associates by name. And being active in our communities, it's more than I ever dreamed of. So I like the fact that Morgan automotive who bought them is also a family business in Florida's largest dealership group, who now is at 67 stores across multiple brands, Big time, big time.

Kyle Mountsier: 6:02

That's it's a big group, Morgan is growing quickly they're doing, you know,they're a private company. So we don't see them as much as we see like Lithia, which also announced a purchase of a Ford store yesterday, they're starting there, they like they like opened up the buying season. I feel like earlier this this month, so but you know,they are growing fast. We see them on topless all the time,they are leaning into obviously the the Forge of the Florida area. So they're very regionally focused group. So it makes sense that they would buy a store like this. And then I, you know,like, my, my knowledge of the Morgan group is that the heart of our Henriksen, Toyota will probably be able to continue very, very long into the future because it is a people based business. So kudos to the organization to the Hay Group who threw down. You know, the,we had a comment as we got this story over from the head group,Amy, who's a part of that just said, like, hey, this just proves that auto is a place where people can thrive and do well in life make a bunch of money, like whether you start from humble beginnings or are a part of a large group or wherever you're at, like, just just the reminder that transactions at this size. Like I was thinking about this, how many SaaS companies in auto have ever seen an exit like this? Not many?

Paul Daly: 7:29

Well, a few. couple few. Well, here's the deal, too.It's like the they didn't release the official numbers,but we have a couple of friends in the industry. And we'll give you the generality of it is like including real estate and the CMA. I mean, we're talking probably close to like half a billion dollars. That's a lot of money, man, that is a lot of money.

Kyle Mountsier: 7:52

believable and what it looks like so,

Paul Daly: 7:54

so congrats to everyone involved. You know,hey, partners as well,obviously, it's a it's a really great thing for them. And they just have a history of like,record breaking transactions.And if you've ever met Alan Haig, he's just like, if I'm if I'm selling something this big,I want his demeanor. Who his experience. Yeah, right. That's to me, because he's just got that vibe to like he's the one that could definitely calm the nerves of someone about to like try to transact at that amount.So fun stuff on stuff. Maybe we'll try to have them all on the show. We'll try to get everybody on.

Kyle Mountsier: 8:24

I think we should. We should. We should have everyone on the show chat about.

Paul Daly: 8:28

Yeah. Okay, try to chat. Segway segway.

Kyle Mountsier: 8:31

I don't know and I wasted all of my segway did you did

Paul Daly: 8:36

speak of the lightning bolt that's on my shirt. If you want a Chevy Bolt,though, you better get to the dealership really fast. Time is running out for fans of the popular Evie. As GM has announced to be discontinuing production to the bolt later,later this year. We already talked about that. Now, they did say they're going to focus on the new Altium platform. But now we kind of have a date. So the last time the last order cycle for the Chevy Bolt is going to start on Thursday, August 17.Now the bolt has been a best seller. And they you know, GM has like it's been a huge technical achievement. But they're moving to the new platform CEO Mary Barra said bolt is something that has built up a lot of loyalty and equity.So I can't say more because I don't discuss future product programs. But you know, it was primarily moved from second generation to third generation now. We've I've actually I've seen some stuff on LinkedIn of people just saying like, you know, I think there's Jim Ellis maybe that posted it who says EVs aren't affordable. And he's got a picture of the bolt there.And it's like, look, you can get this thing for $27,000. The dealers that I've talked to, I think it was Phil Gill of Tom Gill Chevrolet. He's like, I drove a bolt for two years and I love that my wife and I had that and the Tesla Model three and we'd fight over who got to drive the bolt.

Kyle Mountsier: 9:52

So interesting.Yeah, I mean, it's been a great car like it came out I think a year after the leaf originally came out. So really early. On in kind of the low legacy OEMs entering into the Eevee space,again, in the mass market, you know, they had some, some fire,you know, discrepancies early on, but they fixed all that. And so there's been, you know, a big culture around bolt ownership.So I, you know, I would see a potential of like bringing some level of that type of drive back because the equinox, which they're going to be pressing,initially, to kind of recapture that market is in that crossover utility vehicle size. And so getting a slightly smaller car out there is I think, going to be something that GM is going to want to do. And, but I get it like replac forming a car, on top of a skateboard is a hard thing to do. So there's a lot of r&d that goes into that. So you know, just switching that up.And if you're a boat person, get there before while the getting started

Paul Daly: 10:54

with the resale is going to do on those somebody the top comment on this article said, if you have a 20 mile commute to work, based on that the fuel savings and the resale value of the bolt, you can drive it for three years and have it be practically free is what he said I haven't vetted that out,but I can't

Kyle Mountsier: 11:11

imagine that's true. I

Paul Daly: 11:13

really keen to so it'll be interesting to see what these do and resale and how many people are going to try to order them. You know, because if it's that kind of car and they're going to stop being produced,you know, I guess it has a lot to do with what Chevy does put up next. There are three vehicles on the ultimate and based coming out launching this year. Silverado Evie, blazer,Evie and the equinox Evie. You know the starting price or the base, they say 30,000. But I think there's very little trust in the OEMs that like the the promise base level of a vehicle will ever make it to market when it's an Eevee because it really hasn't happened yet. So it's like well, it says 30,000 but likely the ones that are produced are slightly higher trim levels, so it's probably gonna be closer to my guess is probably closer to like 40,000.And what's really big gap in the market, I guess.

Kyle Mountsier: 11:59

Still still chasing that mid 20s. Evie,speaking of gap. Oh, wow. Oh,wow.

Paul Daly: 12:07

Like that. I mean,that's a little removed. But if you know, you know,

Kyle Mountsier: 12:11

that's a bold move. See, if you know if you've ever gotten an Old Navy gift card, you know exactly what Paul's talking about. Old Navy is leaning into the automotive experience tied to the Fourth of July as they're giving free gas away to the first 250 cars at some racetrack gas stations across five US states. The free gas events will take place on listen up. Listen up, because you're in one of these cities.You're gonna listen. Orlando,Atlanta, Dallas, New Orleans,and bah, bah, bah.

Unknown: 12:42

Kyle told his wife you're waking up at 6am We're getting, we're getting fascination, you're gonna get

Kyle Mountsier: 12:47

a gift card. No,actually, it's really funny because I was just, you know, we were just on a road trip. And I was through Atlanta and Cincinnati and all through Nashville had the cheapest gas prices of all of them. Wow. So feel good. It felt great. I felt good. I was like, All right, I'm gonna come fill up over here not a problem. So if you've got an Old Navy credit card, which if you've ever met an Old Navy, you been asked three times whether or not you want the credit card as well. If you would get a $50racetrack gift card, so a little bit of

Paul Daly: 13:18

luck, you get if you have a credit card, you get $100Whoa, $100 $50 Yeah, if you have a card, you get double the money. So it's $50 gift card, if you have a credit card, you get double. So you get 100

Kyle Mountsier: 13:31

Unbelievable,unbelievable. And then they've got a little bit of free fuel thing going on on their social media game too. So kudos to them for kind of crossing the boundaries of you know, of the vertical and getting into like the real life situation of what people are thinking about and just being present and available. Kind of a fun little activation to

Paul Daly: 13:52

play I think it's cool brand play like when you think about Old Navy and Fourth of July if you're walking through a mall or you see went right, they always lean in to always lays in the fourth and the tie it back to something that just like yeah, road trips,Fourth of July traveling, seeing family going to see fireworks like cars are a big part of that. And I think that there's an opportunity for a lot of dealerships to lean into this type of promotion, right? You happen to sell cars, people drive cars on the forth.Everybody wants free gas, and you want them to test drive your vehicles Right? Or come in for service or a checkup or something like that. I think there's something there.

Kyle Mountsier: 14:24

Yeah, I've seen a bunch of dealerships doing stuff like this. So I'm sure we'll get a couple of stories out there on the old LinkedIn and Hey, dude, do something on July 4, make sure and let us know. We want to know what's coming up what you're talking about what you're doing. So that'd be pretty cool. Hey, real quick. This story didn't make it into our show notes. But we had a young man named Devin SULI on auto collabs a couple of weeks ago. If you go to his LinkedIn right now, spell it spell it DVI n s o l e y if you go to his LinkedIn You can find his first seven minute episode of his trip across Nova Scotia with an ionic six. So if you follow auto collabs that podcast and if you're watching that, make sure you go check that out because it is really fun to dealer

Paul Daly: 15:14

made documentary tailor made I honestly. Yeah,like all the things are big fans. It's great. We're big fans over here. Yeah. All right.Well, we're big fans that Thursday. We're big fans of you going out there and serving people. We're big fans of getting things done. And we're big fans of I don't know what else

Unknown: 15:33

to call that.

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