Navigating Inventory and AI in Dealerships

This chapter explores the critical aspects of inventory management in car dealerships, with a focus on AI integration and the evolution of Business Development Centers (BDCs). It discusses personal experiments with innovative AI tools, the potential for AI to replace certain roles, and the importance of human interaction in sales. Additionally, the financial implications and necessary technological adaptations for dealerships are examined in light of advancing AI capabilities.

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Today I’m joined by Josh Clinton, GM of Cape Coral CDJR. We dive into how he doubled his close rate using simple AI prompts, the headwinds Stellantis is facing after cutting key models, the evolving role of the salesperson in an AI-driven landscape, and much more.

This episode is brought to you by:

1. Lotlinx - Get the best possible market advantage on every vehicle transaction. Optimize operations and boost profits using artificial intelligence (AI) and machine learning. Learn more @ https://lotlinx.com/

2. Cars Commerce - The platform to simplify everything about buying and selling cars. Learn more @ https://www.carscommerce.inc/

3.Nomad Content Studio - Most dealers still fumble social—posting dry inventory pics or handing it off without a plan. Meanwhile, the store down the street is racking up millions of views and selling / buying cars using video. That’s where Nomad Content Studio comes in. We train your own videographer, direct what to shoot, and handle strategy, to posting, to feedback. Want in with the team behind George Saliba, EV Auto, and top auto groups? Book a call at http://www.trynomad.co

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Topics:

00:05 Best used car strategy today?

01:48 Why drop out of school?

02:56 How AI transforms auto sales?

04:43 Best psychological sales tactics?

10:25 Most innovative AI dealership uses?

24:28 AI's impact on sales/marketing?

30:12 AI in inventory management how?

32:34 Will AI replace salespeople?