40 Under 40 Props, Record new car payments, 18x Value for F1 Licensing

The Automotive Troublemaker w/ Paul J Daly and Kyle Mountsier

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We’re kicking off a week of troublemaking by giving props to the Auto News 40 Under 40 list. We’re also covering the rise to record new car loan payments, as well as trying to learn a thing or two about how F1 has become a household name through telling great stories.

• Congrats to the Automotive News 40 under 40 young dealership leaders
  • “This year’s stars have led digital retailing transformations, found new ways to stock vehicles during an inventory crisis and chipped away at recruiting challenges.”
  • Some resident OG Troublemakers:
    • Ashley Cavazos, Director of Digital Performance, Walser Automotive Group
    • Mike Cavanaugh, VP Operations, Driveway
    • Jennifer Scarbrough, GM, Swope Hyundai-Genesis of Elizabethtown
    • Ben St. Ours, Managing Partner, CMAs Valley Honda
    • Jeff Ramsey, Variable Operations Director, Ourisman Automotive Group
• 
  

• Average loan payment for a new car has reached an all time high
  • June Monthly payments on new car loans averaged an all-time high of $686, according to Edmunds. Data began in 2005. Up 4% from January and 13% YoY
  • Record 12.7% of buyers now have a monthly payment of over $1000 (in 2019 it was less than 5%
  • In addition, avg down pmt up 27% to $6,333
  • Repayment terms are also being extended w more and more beyond 7 years
  • Used Car payments also near a record, currently up 12% YoY at $554
  • Take Away: Take note of the most struggling middle and do everything you can to empathize and help
    
• How F1 became such an unstoppable brand
  • In 2012 the sport lost almost 25% of it’s worldwide viewership and sold 1.6 Billion worth of shares at a 9B valuation
  • It 2016 F1 needed another cash injection and sold the entire company to Liberty Media for only $8B
  • Liberty launched a targeted US campaign including the 2019 docuseries “F1: Drive to Survive” which featured all 20 drivers across 10 teams and it was a hit
  • Avg viewership per race went from 557k in 2018 to 1.4M in 2022 (up 47% from 2021)
  • Using it’s current deal w ESPN, value has increased 18x in its licencing value (5 - 90M)
  • Content marketing and branding are the core strategy. NOT paid media.
    • Other sports following suit of original content
  • Take away: Stories make people care

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Hosts: Paul J Daly and Kyle Mountsier
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