OFFICIAL PUBLICATION OF THE CENTRAL FLORIDA AUTO DEALERS ASSOCIATION

Pub. 1 2019-20 | Issue 3

Hyundai-dealership-Glenn-Ratchey

Getting to Know Vice Chair Glenn Ritchey, Jr.

glenn-ritchey

These are undoubtedly unprecedented times. What are you doing, as a small business, to weather the storm?

We are looking at opportunities within our processes to strengthen our financial position in the current market. With the shortage of new vehicles being delivered to dealerships right now, we are looking at the used car market and making sure we have the right preowned inventory on hand to supplement due to the shortage of new inventory.

What are you doing to support your employees?
First is sending out the message that we are open for business and offering a clean and safe environment for visits and demonstration drives. Another is we did not furlough or lay off any of our employees, and we are continually improving training for everyone as needed. We also adjusted pay plans to help employees maintain their livelihood. Our dealerships participated in the Payroll Protection program to assist us in keeping our employees working so they can support their families.

What are two things that you have learned from past experiences that are helping you navigate now?

First is expense control. This unforeseen challenge has caused us to take a closer look at nonproductive expenses and costs associated with vendors we do business with etc. And secondly, we have not stopped advertising. We adjusted our digital marketing platforms to make sure we have a presence in this highly competitive climate.

What effect do you think this crisis will have on the auto industry going forward?

I think it will push more of our customers to our websites and possibly more home or office demonstrations and delivery.

What is the takeaway for you as a small-business owner and leader from this extraordinary experience that will guide your future business decisions?

With all the challenges we have faced in the first half of 2020, we have learned that flexibility must be our most rigid policy. I think this will make us better prepared to meet future challenges.

What are you and your dealerships doing for community outreach? Are you doing anything to support essential workers, including health care workers and first responders?

The way we are helping in our community is by continuing our financial support to programs we have supported over the years. We respect and appreciate our essential workers and first responders. We offer additional savings on all new and preowned vehicles. Also, we provide service specials and discounts as needed.

How did you become a dealer? Did you always aspire to be part of the auto industry?

My father got in the business around 50 years ago, and I followed in his footsteps. He started me off at the bottom, and I worked my way through different departments in our dealerships. He then gave me an opportunity and suggested I move out to another part of the country to work for a few of his dealer friends to make sure that I wanted to be in the business and to experience it from a different perspective than our own. This total experience confirmed for me that I wanted to continue and make the automobile business my career.

daytona hyundai group photo

Describe your educational background. What did you study?

I went to a private school in Volusia Co. After high school, I attended our local community college for finance and then on to attend the NADA Dealer Candidate Academy. After graduating, I have participated in various training programs offered by the manufacturers about the automotive industry.

Are there any specific individuals who had a major impact on your career? How?

My father was my biggest role model growing up, but also, I have worked firsthand with some of the best managers in the industry. A lot of people helped shape and teach me the business, and I am still learning.

What is the most rewarding part of your career?

The most rewarding part of my career is doing what I love to do and working together with our team to make a positive impact on our community. I still love to see the smiles on people’s faces when they tell me how much they appreciate our dealership’s involvement in the community, and our customer survey scores reflect that.

How has the automotive industry changed in the last five years?

The most significant change I think has been the consumer transition from passenger cars to light-duty trucks, crossovers and SUVs. Also, the mass migration to digital advertising and social media has been a significant change. We are truly living in an information-seeking society.

What do you think will be some of the dominant trends within the automotive industry in the next 5-10 years?

I think some trends will be more EV vehicles, as sales have trended up in that segment. Also, I think we may eventually see more noncommissioned sales salespeople. Something like a product specialist. Possibly more online purchases with product demonstrations at home or office and no-touch deliveries. The way consumers purchase vehicles in the next 5 to 10 years will undoubtedly evolve and change.

What have been some of the major challenges in creating a balance in customer branch and digital-based transactions?

Hiring, training and maintaining employees is one of the biggest challenges most dealers are facing now. Another challenge is to give the online shopper and the shoppers who visit the dealership a seamless shopping and purchase experience.

What is the biggest impact of being a CFADA member? What makes it beneficial?

I was honored when I was asked to be on the CFADA board. It is great to have these professionals as a resource when I have a need or question about our business. After my first meeting, I realized this was a great organization to be involved with and support. This group of dealers and GMs are true leaders in their communities, and they strive to make a difference in the automotive industry in Central Florida.

Are you involved in any civic or charitable organizations?

Yes! Community service has always been a big part of my family’s business tradition. I am currently involved with our local Rotary Club; I am a past board member for The Daytona Beach Symphony Society and am now on the Advisory Board for Halifax Health Hospital. We also support The Council on Aging, SMA Behavioral Health Care, The Annual Mayor’s Cup Golf Tournament and area high schools’ sports and music programs.

customer-at-dealership

If you look back at your career and life, what would be three things that you have learned and that you would pass onto a younger member within the banking industry?

  1. Doing what’s right is not always easy, but it is always right.
  2. Live in and enjoy the present
    moment more.
  3. Turn a problem from a challenge into
    an opportunity.

What are some professional moments that make you the proudest?

The biggest moment would be my family’s Chevrolet store achieving the Dealer of the Year award 18 years in a row and being recognized for that. Also graduating from the Dealer Candidate Academy and operating the Hyundai/Genesis Dealership for my family.

Was there an “aha” moment in your career that
defined you?

Not yet. I’m still young.

What is your favorite way to spend your free time? Do you have any unusual hobbies?

No unusual hobbies, but I am known amongst my family and friends for traveling to different mountain biking locations. I also enjoy camping, fishing, snowboarding, live music and theater.

The Central Florida Auto Dealers Association

This story appears in Issue 3 2019-2020 of Accelerate Magazine.

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