Today on CBT News, host Jim Fitzpatrick is joined by Andrew Walser, CEO of Walser Automotive Group. Walser joins the show to reflect on the first quarter of 2021, discuss the effectiveness of one-price selling, and elaborate on the launch of FUSE AutoTech.
Walser begins the conversation by providing a business update. He says his business is carrying over momentum from the second half of 2020. Inventories for both new and used are holding up and fixed operations have been steady. Walser says his auto dealership has continued to perform at a high level through the first quarter of 2021.
When asked if the chip shortage was affecting business, Walser claimed that his company had not been impacted by the crisis to this point. OEMs have notified Walser that pipelines of various models could be impacted later, but nothing significant has hindered inventory to this point.
Walser then discusses the thought process behind his company’s one-price selling model. Andrew and his brother, Paul Walser (2021 NADA Chairman), decided to set up a one-price system 20 years ago. The Walsers created this business structure with the customer as the priority. One price makes the buying-process simple, helping customers spend less time in an auto dealership and more time in the vehicle they are wanting to buy.
From this business model, FUSE AutoTech was born. FUSE integrates online and in-store systems for fast transactions and a seamless sales process. The system utilizes AI that is connected to the largest lender database to automate all heavy lifting of vehicle financing. Walser Automotive plans to make this technology available to other car dealers in June.
Walser concludes the conversation by talking about breaking the traditional auto dealership process of selling vehicles to customers. The industry is changing, and consumer demands are changing. Walser says that the car-buying process has to continue evolving as the expectation of customers continues to change.
