An Independent Used Car Dealer’s Market Perspective

Special Guest - Joel Bassam

Inflation and low inventory have caused new and used vehicle prices to soar over the past year. On this episode of The Walk Around podcast we discuss customer education, how used EVs will impact dealerships and how used car dealers are managing when major manufacturers like Tesla cut prices on their new vehicles. This conversation will benefit any dealer looking for insight into customer relations, used cars and more.

In this episode you’ll hear:

How to appeal to consumers left behind in this inflationary period
How used car dealers can differentiate themselves from franchise dealers
Missing price segments in the marketplace and what that means to the consumer
What acquiring inventory may be like in the future for used dealerships
Whether there is a profitable market for EVs at used car dealerships

Episode Breakdown

0:00 - A first for the podcast
2:43 - Independent vs. franchise dealerships
6:30 - Trends today for independent dealerships
9:29 - Used car pricing now
14:13 - Independent dealership profitability
22:59 - Acquiring inventory today
26:38 - Modern retail strategy
35:26 - Secondary market for EVs
41:14 - Is this a Schor Thing?

Joel Bassam is the President of Easterns Automotive Group, a family-owned used car dealership that operates eight retail locations around DC, Maryland and Virginia. He is the second generation to work at Easterns since it opened in 1988, starting at the family business at the age of 12. Joel moved his way around the dealership from service tech to sales manager, director of marketing and beyond.

Fun fact: Joel is a Walk Around listener who asked to be on the podcast to share the perspective of an independent used car dealer with our audience. And we’re glad he did! If you have unique insights to share with us, reach out, and you may find yourself on an upcoming episode!

For more about Joel, visit his LinkedIn.