#59 Becoming a #1 Volvo Dealership, $300M in revenue from "throwaway" brands, The "Great EV Recession" | Matthew Haiken, President of Prestige Collection Auto Group

In this episode, I'm speaking with Matthew Haiken, President of Prestige Collection Auto Group

This episode is brought to you by:

Stream Companies - Full-service, fully integrated, tech-enabled ad agency doing the ordinary extraordinarily well. Learn more @ https://www.streamcompanies.com/

CDK Global - Empowering dealers with the tools and technology to build deeper customer relationships.

Learn more @ https://www.cdkglobal.com/dealership-xperience-platform

Interested in advertising with Car Dealership Guy? Drop us a line here

Interested in being considered as a guest on the podcast? Add your name here

Topics:

(00:00:00) - Intro

(00:03:13) - Matt’s background and career

(00:09:45) - NADA Dealer Candidate Academy

(00:11:13) - Matt’s operating philosophy

(00:12:52) - Moving away from selling Kia’s

(00:15:20) - What’s changed the most in your business over the past decade to successfully operate multiple locations?

(00:17:10) - What are you seeing in terms of consumer demand?

(00:18:25) - How have your margins changed over the past year?

(00:20:04) - Why did you become a Polestar dealer?

(00:22:42) - How do you define the agency model?

(00:27:03) - How are you making money here?

(00:33:00) - Are you considering adding a service arm or selling used?

(00:33:51) - Why are you bullish on Polestar?

(00:35:07) - Does the agency model have a future in the US?

(00:39:08) - Where do you think the market conditions will be as we go into 2024?

(00:41:42) - What steps are you taking to insulate yourself?

(00:44:13) - What’s next for you in terms of acquisitions?

(00:44:49) - Will your kids get into auto?

Check out Prestige Collection Auto Group here.

Check out the website for more (https://dealershipguy.com) and follow me on X @GuyDealership! (https://x.com/guydealership)

This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.