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Вміст надано ASOTU. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією ASOTU або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.
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In-Showroom Interview with Patrick Abad, GM of Beaver Toyota, Car Repos, Subscription Seats

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Manage episode 334280006 series 2988189
Вміст надано ASOTU. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією ASOTU або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.

We’re waking up Wednesday morning fresh off a trip to Atlanta and yes, we brought you something back. We talk to Beaver Toyota GM Patrick Abad about popular recession rhetoric, and how he is taking it in stride. We also talk about car repossessions on the rise and subscription heated seats.

  • BMW offering subscription heated seats
    • One small step for OEMs, one giant leap for testing what consumers will go along with. BMW is officially selling heated seat subscriptions for $18 a month. The monthly sub-model is not the only option. Customers can pay for a year ($180), 3 years ($300), or even lifetime access for $415.
    • Microtransactions. BMW has been putting features behind subscriptions since 2020, along with Audi, Cadillac, Porsche, and Tesla. The heated seat option has not been added to the US digital store. We can only wait and see if - or when - that changes.
    • Take away:Building cars with features that may never be turned on during a chip shortage seems like a really strange plan. What do you think?

  • Car repossessions on the rise
    • "Lucky Lopez is a car dealer who has been in the business for about 20 years. In recent meetings with bankers, where he bids on repossessed vehicles before they go to auction, he has noticed some common characteristics of the defaulted loans. Most of the loans on recently repossessed cars originated during 2020 and 2021, whereas origination dates are normally scattered because people fall on hard times at different times; loan-to-value ratios, or the amount financed relative to the value of the vehicle, are around 140%, versus a more normal 80%; and many of the loans were extended to buyers who had temporary pops in income during the pandemic. Those monthly incomes fell—sometimes by half—as pandemic stimulus programs stopped, and now they look even worse on an inflation-adjusted basis and as the prices of basics in particular are climbing.
    • Part of the problem is that some consumers’ incomes were temporarily high as the pandemic brought about debt forbearance, pandemic stimulus checks, enhanced unemployment benefits, and, in some cases, forgiven loans from the Paycheck Protection Program.
    • Pamela Foohey, law professor at Cardozo School of Law at Yeshiva University, warned in 2021 of an auto-loan crisis. She wrote then that heading into the pandemic, auto loans outstanding were at record levels and auto-loan delinquencies were hitting new highs almost every quarter. The bubble was about to burst, it seemed, but government pandemic responses meant the bottom didn’t fall out of the auto-loan market. The measures were temporary, she warned then, and the bubble has since only grown."

  • Interview with Patrick Abad
    • Approaching market forces with your team
    • Brick and mortar with a retail hospitality mindset

Get the Daily Push Back email at https://www.asotu.com/

Rock with us LIVE at ASOTU CON! Tickets: https://www.asotucon.com

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

Read our most recent email at:

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

  continue reading

699 епізодів

Artwork
iconПоширити
 
Manage episode 334280006 series 2988189
Вміст надано ASOTU. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією ASOTU або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.

We’re waking up Wednesday morning fresh off a trip to Atlanta and yes, we brought you something back. We talk to Beaver Toyota GM Patrick Abad about popular recession rhetoric, and how he is taking it in stride. We also talk about car repossessions on the rise and subscription heated seats.

  • BMW offering subscription heated seats
    • One small step for OEMs, one giant leap for testing what consumers will go along with. BMW is officially selling heated seat subscriptions for $18 a month. The monthly sub-model is not the only option. Customers can pay for a year ($180), 3 years ($300), or even lifetime access for $415.
    • Microtransactions. BMW has been putting features behind subscriptions since 2020, along with Audi, Cadillac, Porsche, and Tesla. The heated seat option has not been added to the US digital store. We can only wait and see if - or when - that changes.
    • Take away:Building cars with features that may never be turned on during a chip shortage seems like a really strange plan. What do you think?

  • Car repossessions on the rise
    • "Lucky Lopez is a car dealer who has been in the business for about 20 years. In recent meetings with bankers, where he bids on repossessed vehicles before they go to auction, he has noticed some common characteristics of the defaulted loans. Most of the loans on recently repossessed cars originated during 2020 and 2021, whereas origination dates are normally scattered because people fall on hard times at different times; loan-to-value ratios, or the amount financed relative to the value of the vehicle, are around 140%, versus a more normal 80%; and many of the loans were extended to buyers who had temporary pops in income during the pandemic. Those monthly incomes fell—sometimes by half—as pandemic stimulus programs stopped, and now they look even worse on an inflation-adjusted basis and as the prices of basics in particular are climbing.
    • Part of the problem is that some consumers’ incomes were temporarily high as the pandemic brought about debt forbearance, pandemic stimulus checks, enhanced unemployment benefits, and, in some cases, forgiven loans from the Paycheck Protection Program.
    • Pamela Foohey, law professor at Cardozo School of Law at Yeshiva University, warned in 2021 of an auto-loan crisis. She wrote then that heading into the pandemic, auto loans outstanding were at record levels and auto-loan delinquencies were hitting new highs almost every quarter. The bubble was about to burst, it seemed, but government pandemic responses meant the bottom didn’t fall out of the auto-loan market. The measures were temporary, she warned then, and the bubble has since only grown."

  • Interview with Patrick Abad
    • Approaching market forces with your team
    • Brick and mortar with a retail hospitality mindset

Get the Daily Push Back email at https://www.asotu.com/

Rock with us LIVE at ASOTU CON! Tickets: https://www.asotucon.com

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

Read our most recent email at:

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

  continue reading

699 епізодів

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