Building Teams, Trust and Workforce Mindsets with Todd Caputo

TimTalks: Automotive Leadership and Beyond

Tim welcomes Todd Caputo, president of Todd Caputo Consulting, for another episode of TimTalks: Automotive Leadership and Beyond.

Formerly known as the “Used Car King,” Todd shares his journey from growing up in his father’s dealership, to building and selling multiple high-performing stores, and now consulting for dealerships around the country.

Tim and Todd discuss progressive leadership, recruitment, and marketing success. Todd explains how dealerships can thrive by approaching operations in new ways, adapting to market challenges, and motivating the industry’s changing workforce.

Whether your focus is new or pre-owned, this episode is packed with actionable takeaways to lead and grow your business.

Connect with Todd on LinkedIn.

[00:00 – 01:00] Introduction & Guest Background

Todd Caputo, known as the "Used Car King," discusses his experience in the automotive industry, having worked in every dealership role, including dealer principal.

[01:01 – 03:55] Early Career and Business Growth

Todd grew up in the business, starting at his father’s small dealership in Syracuse, NY, and attending Le Moyne College. He built used car superstores, selling 6,500 cars annually at peak, focusing heavily on leadership and team autonomy.

[03:56 – 05:32] Expansion and Sonic Automotive Acquisition

Todd's business was sold to Sonic Automotive during COVID-19. He reflects on the transition from being a dealer to working for a public company, describing it as his "MBA."

[05:33 – 09:00] Talent Recruitment Strategies

He recruited top talent through progressive branding, compensation, and marketing, drawing attention from employees across the industry. Auctions and industry events were also key recruitment grounds.

[09:01 – 12:06] Key Strategies for Used Car Success

Todd emphasizes the importance of inventory acquisition from auctions, trade-ins, and service drives.

[12:07 – 16:00] Adapting to Market Changes Post-COVID

With auctions becoming more challenging, acquiring trade-ins became essential to profitability. A detailed appraisal process ensures the dealership doesn’t miss valuable trades.

[16:01 – 22:00] Service Drive Acquisition Process

Todd shares how service drives can generate inventory: Use dedicated staff for appraising service vehicles; incorporate QR codes and personalized offers with repair orders; pay all employees bonuses for helping acquire cars.

[22:01 – 25:10] Creating a Culture of Acquisition

Todd promotes dealership-wide participation in car acquisition, with employees using QR-code business cards to connect with car sellers outside the dealership.

[25:11 – 27:10] Motivating and Managing Younger Employees

Todd explains how Millennial and Gen Z employees respond better to positive reinforcement than financial incentives alone. He argues that leaders need to adjust their management styles to support younger talent effectively.

[27:11 – 29:50] Preparing for Market Shifts

Todd advises dealerships to be ready for economic changes and seize unexpected opportunities.

[29:51 – 33:38] The Importance of Financial Discipline

Todd stresses saving money during good times to weather downturns, cautioning dealerships against overspending. He observes that many in the industry are now struggling after living beyond their means during profitable periods.

[33:39 – 34:22] Closing Thoughts

Tim reflects on giving back to the industry and mentoring the next generation and encourages listeners to focus on continuous improvement and to seek out small ways to make a difference every day.

Luvut

1. Introduction & Guest Background (00:00:00)

2. Early Career and Business Growth (00:01:01)

3. Expansion and Sonic Automotive Acquisition (00:03:56)

4. Talent Recruitment Strategies (00:05:33)

5. Key Strategies for Used Car Success (00:09:01)

6. Adapting to Market Changes Post-COVID (00:12:07)

7. Service Drive Acquisition Process (00:16:01)

8. Creating a Culture of Acquisition (00:22:01)

9. Motivating and Managing Younger Employees (00:25:11)

10. Preparing for Market Shifts (00:27:11)

11. The Importance of Financial Discipline (00:29:51)

12. Closing Thoughts (00:33:39)