Andy Wright, an auto retail expert, is the Managing Partner of Vinart Dealerships and the Hyundai Dealer Council Vice President. Wright has business insights that few others possess and a wealth of knowledge to share with dealer veterans and rookies. Andy is a second-generation dealer who loves the auto business and appreciates the opportunities it provides. He is obsessed with providing superior customer experiences and is always striving to improve his team's performance.
David and Andy discuss how an obsession with customers and associates can lead to growth and success in the industry. The conversation centers on Wright's passion for his work and how he has maintained his success in the industry. They agree that failure is essential to success and that being willing to try new things and fail forward is critical.
Andy talks about the transition of their tech stack to a single solution, and the benefits they have gained from it. Andy talks about how their tech stack became too complex with various logins from different vendors. Although each vendor did something really well, they knew that it cost them inefficiency, and moving to a single solution would help them cut costs and gain efficiencies.
Innovative solutions and platforms are crucial for any business to stay relevant in the modern retail and connected car environment. Legacy DMS systems can be cumbersome and expensive, leading dealerships to make compromises on certain features to make their customer experience better. However, dealerships need to focus on making both their customer and team member experience better, as these two factors are inseparably linked.
Andy highlights the importance of platforms in the modern retail and connected car environment. The Standard of Technology and Automotive Retail (STAR) is uniquely positioned to grow and become a key player in the near future. Legacy versus contemporary is not a matter of good versus bad, but rather about the ability to move forward with the expectation of what STAR can bring.
As dealerships go forward into 2023, they need to focus on efficiencies, recruiting, retention, cash flow, used car procurement, and margin compression. Innovative solutions and platforms are crucial for addressing these challenges, and dealerships need to be willing to embrace change to stay relevant in the market. He encourages dealers to consider investing in technology that can take them to where the future is headed.
This episode highlights the importance of passion, curiosity, and a willingness to fail in achieving success. Andy Wright's dedication to his work and his team is a testament to these values, and his example serves as an inspiration for others in the industry.
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