Episode #1435: Today we sit down with Rhett Ricart to talk about a career in automotive and what dealers should be watching next, from Chinese competition and direct sales to affordability and fixed ops.

Fresh off receiving Ford’s Lifetime Achievement Award, Rhett Ricart joins Paul for a wide-ranging conversation about a lifetime in automotive and what comes next. From the lessons of COVID to Chinese competition, direct sales, affordability, and fixed ops, Ricart offers the perspective of someone who’s seen the industry navigate plenty of chaos.

• • Ford recently surprised Ricart with its Lifetime Achievement Award in Las Vegas, with Jim Farley, Andrew Frick, other Ford leaders, and—unexpectedly—Ricart’s entire family there for the moment. Ricart said seeing his family come on stage brought tears to his eyes.

  • Ricart now serves as executive chairman, while his son and other family members handle the day-to-day operation of the business. That gives him what he calls an “80,000-foot” perspective, stepping in on major decisions like buying or selling stores while spending a little more time with his six grandchildren.

  • From that vantage point, he believes dealers need to watch Chinese vehicles, direct sales, and right-to-repair. At the same time, he says dealers have adapted extremely well to the digital customer, pointing out that shoppers now arrive far better informed and ready to buy.

  • Ricart remains a strong believer in the franchise dealer model, arguing that COVID proved its value when dealers kept customers and essential vehicles moving. Looking forward, he sees fixed operations as one of dealers’ biggest opportunities, especially as independents continue capturing a huge share of maintenance and repair business.

  • His advice heading toward year-end is to focus on what dealers can actually influence: inventory mix where possible, customer relationships, and especially service. “In our companies, that’s our big focus right now.”