A short transcript excerpt from Chris Collins' March 5, 2024 YouTube video 'Hidden Truths of the Automotive Industry' criticising the lack of financial transparency in automotive dealerships. Collins recounts that even long-tenured industry staff (including a 30-year veteran) see basic financials for the first time in his boot camp and claims some public dealers withhold financials from their general managers.
How many times does somebody sit in our boot camp, our new client boot camp, which is a day and a half, and they're like, why hasn't anybody taught me this before, regularly? And they've been in the industry forever. Like, forever. We just had somebody 30 years in see a financial for the first. Why hasn't anybody taught me this? Well, the dealers in the, in the, you know, public companies and all that.
Do a terrible job of it, and they keep the financials a secret. You know, there's. There's a public company out there that doesn't even share the financials with the general manager.
