It’s essential to recognize the significance of education and practical experience in shaping the next generation of industry talent. On the latest episode of Inside Automotive, we are joined by Zak McLeod, a Northwood University student and intern who spent 10 weeks gaining industry experience in various roles. We’re also joined by Jason Jager, Senior Director of Industry Partnerships at Cox Automotive, who serves as the main point of contact for Cox Automotive’s relationship with Northwood University.
Key Takeaways
1. McLeod’s internship at Penske Automotive Group, particularly at United BMW, provides him with a comprehensive 10-week rotational experience through different dealership departments. This hands-on approach includes working in fixed and variable operations and shadowing finance and sales teams. McLeod emphasizes the value of practical, on-the-job training that complements his academic learning and helps him understand the intricacies of dealership operations.
2. Jager highlights the 20-year relationship between Cox Automotive and Northwood University, emphasizing their commitment to student education through scholarships, the Cox Automotive Solutions Lab, and various on-campus programs. This partnership ensures that students receive both financial support and practical training, enhancing their readiness for industry challenges.
3. McLeod underscores the significance of human capital in dealership operations, noting that every role is essential to the dealership’s success. He draws parallels between a car engine’s components working harmoniously and the dealership’s staff collaborating effectively. This insight highlights the importance of teamwork and employee engagement in achieving business goals.
4. Another key takeaway for McLeod is the fast-paced nature of the automotive industry. He thrives in this dynamic environment, appreciating the quick turnaround of deals and service operations. This experience helps him develop skills in time management, adaptability, and decision-making, which are crucial for success in the automotive sector.
5. As a new-generation consumer, McLeod shares his perspective on the future of car sales, emphasizing the growing trend of digital retailing. He believes that online sales processes will become increasingly prevalent, complemented by minimal dealership visits. His own experience of purchasing a car online and having it delivered reinforces this view, highlighting the need for dealerships to adapt to evolving consumer preferences.
"One of the key takeaways, I would say, is realizing how important human capital is in your stores. If everyone wants to be there and succeed, I think you'll see a lot better numbers from there." - Zach McLeod.
