The Auto Tech Show

Tech-Driven Solutions for Fleet Optimization: A Conversation with Martin Rufo of FINN

July 17, 2023 Marc Babin Season 1 Episode 14
Tech-Driven Solutions for Fleet Optimization: A Conversation with Martin Rufo of FINN
The Auto Tech Show
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The Auto Tech Show
Tech-Driven Solutions for Fleet Optimization: A Conversation with Martin Rufo of FINN
Jul 17, 2023 Season 1 Episode 14
Marc Babin

In this episode, we are delving into fleet optimization, providing a comprehensive understanding of how technology is transforming this sector of the industry. And as automotive and customer-facing technology continues to evolve at a rapid rate, it is becoming clear that fleet operators who do not adapt will soon be left behind.   

It’s a big topic and so I am excited to welcome the Vice President of Operations at FINN, Martin Rufo. Of course, FINN is a leading automotive subscription service company with a home in both Munich and more recently, in New York City.  We flew to New York City to visit FINN at their Park Avenue offices to record this episode. 

Host: Marc Babin
Guest: Martin Rufo

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Show Notes Transcript

In this episode, we are delving into fleet optimization, providing a comprehensive understanding of how technology is transforming this sector of the industry. And as automotive and customer-facing technology continues to evolve at a rapid rate, it is becoming clear that fleet operators who do not adapt will soon be left behind.   

It’s a big topic and so I am excited to welcome the Vice President of Operations at FINN, Martin Rufo. Of course, FINN is a leading automotive subscription service company with a home in both Munich and more recently, in New York City.  We flew to New York City to visit FINN at their Park Avenue offices to record this episode. 

Host: Marc Babin
Guest: Martin Rufo

Visit our website here

Linkedin

Facebook

Twitter

Instagram

00:00:01:09 - 00:00:22:23
Marc
Hello and welcome everyone to a brand new episode of the auto tech show. My name is Marc Babin and your host. Thank you so much for joining us today. We are coming to you from the beautiful city of New York. Great to have the podcast on the road. And we're going to be diving into fleet optimization, providing a comprehensive understanding of how technology is transforming the sector of the industry.

00:00:23:00 - 00:00:49:06
Marc
And as automotive and customer facing technology continues to evolve at a rapid rate, it's becoming clear that fleet operators who do not adapt will soon be left behind. It's a big topic. And so of course we need a big yes. I'm very excited to welcome the Vice President of operations at Fin America, Martin Rufo. Of course, Fin is a leading automotive subscription service company with a home both in Munich and more recently here in New York City.

00:00:49:08 - 00:00:59:11
Marc
Martin, thank you so much for your time today. It's a pleasure to be in your office, and I appreciate this little snip of your busy day. And it's an interesting topic, and I know it's something you're passionate about. So thank you so much.

00:00:59:14 - 00:01:10:23
Martin
Absolutely. And thank you for for coming here today, Mark. Excited to have you here in the office, obviously. And you're absolutely right. This is something I have a passion about. For four years now, that's.

00:01:10:23 - 00:01:12:10
Marc
Been your career in different ways.

00:01:12:11 - 00:01:13:02
Martin
Exactly.

00:01:13:02 - 00:01:32:19
Marc
Just disrupting. And we'll talk about that a little bit more of disrupting how things are done. I love it. So let's jump straight into it and talk about the complexity involved with the business that you and Fin are in. Obviously, what you make extremely convenient for the consumer and the customer is incredibly complex for you and your team behind the scenes.

00:01:32:21 - 00:01:49:14
Marc
So on this point, let's talk about the process of inflating and deflating in terms, of course, people in the industry will be familiar with and fleet sector. But can you walk me how through you and your team are managing to do both of these processes with as much efficiency as possible, given how fast everything is continuing to change right now?

00:01:49:16 - 00:02:32:23
Martin
Absolutely. It's a great question. And it's interesting because first off, fins in the business or rather fins not in the business of building these things from scratch for us, compounding processes, hiring teams, building out space. It's not only a capital investment, it's also a huge time investment. Rather, what FIN does is work with third parties. People who've been doing this longer than you and I have been alive, who've moved more cars and we've seen on the streets and really trust them to operate the physical compounds while we help by introducing a little bit of automation.

00:02:33:00 - 00:02:56:20
Martin
And that's a little bit of the technology that you're talking about in terms of how do we do this as efficiently as possible. For instance, what FIN does is add a layer of automation that our partners aren't really used to. It's not something that they've had a ton of background in, but especially in more recent years, they've been more very much so excited to adopt into their everyday processes.

00:02:56:20 - 00:03:21:02
Martin
So now we are we as fin, we build the, the connections of data so that we can get better insights and even some of the compound providers are okay are providing. And for for instance, yesterday we were on site in Philadelphia at one of our compound providers and we were going a little bit through our KPIs and they were like, This isn't something we've ever thought about.

00:03:21:04 - 00:03:37:07
Martin
And we were like, Oh, this is something we think about. It's in our DNA. This is every day for us. And it's been amazing being able to impart some of those things on people who have really focused on the operations and really meld those two together.

00:03:37:09 - 00:03:56:01
Marc
Interesting. So you mentioned that you're introducing change, you're introducing data, your strategic side of it. When you go to these operators, you said they're excited about it, but are they fairly accepting of the changes that have to happen? Because you can be excited but whoa, whoa, whoa. Well, not too much too fast. But of course, do you want to progress fast?

00:03:56:03 - 00:03:57:15
Marc
So how how's that relationship?

00:03:57:17 - 00:04:20:05
Martin
It's. It's a give and take. Okay? I won't pretend like it's easy for every single partner. No, it can't be. I think one of the most important things for Fin as we're going through RFP processes for our compound providers or any provider for ours, is how willing are you to adopt change? How willing are you to work with thin to deliver the best possible result?

00:04:20:07 - 00:04:46:06
Martin
And really, we've prioritized providers who want to to really adopt that right. And what we've seen is actually they've been able to use some of the learnings they have with us for other providers, and they view this as a unique sales opportunity where they are continuing to learn and they can say, Hey, we're working with this great startup who's providing all of these insights on their stuff.

00:04:46:08 - 00:04:50:18
Martin
We're going to do the same thing for your stuff as well. And that's that's been an interesting.

00:04:50:18 - 00:04:57:02
Marc
So getting kind of a free education and it's helping them to advance their process and their their ability as well.

00:04:57:03 - 00:05:03:02
Martin
Exactly. And well, no such thing as a free lunch. We we work with them on partnership. Exactly.

00:05:03:02 - 00:05:18:00
Marc
Collaborative lunch. So I love it. And it's an interesting thing because I think you're coming at it from the way of progression. You're coming at it from the way of you have the data, you have the analytics and you're seeing what needs to be done. So I would hope that they would be pretty accepting of that because they've never had it before.

00:05:18:00 - 00:05:19:08
Marc
Like you said, this is a whole new world.

00:05:19:13 - 00:05:30:14
Martin
Yeah, unfortunately we actually had to sunset a partner recently because they weren't willing to change, but oh, well, you know, we that's when we work with current partners to to help fill the gaps.

00:05:30:16 - 00:05:34:05
Marc
You have to progress. You can't be slowed down by someone who doesn't want to advance.

00:05:34:07 - 00:05:35:11
Martin
In this world. Absolutely not.

00:05:35:12 - 00:05:37:14
Marc
Like we said, they're going to be left behind if you don't move forward.

00:05:37:14 - 00:05:38:14
Martin
Right? 100%.

00:05:38:16 - 00:06:00:21
Marc
Interesting. So let's look at the process of the post subscription. That's something I was really interested about, is the whole like deep cleaning side of it because you have all these vehicles and they need to go somewhere. Otherwise they sit in your inventory, they take up space, they take up revenue, you got to get them out. But when you're giving them to the dealership, to the wholesalers, there's got to be a list of requirements that they need because they've been it's a used car, but it's a subscription based use card and how it's used.

00:06:00:21 - 00:06:05:20
Marc
So what are the requirements that the dealerships are requesting from you and how do you collect all of that?

00:06:05:22 - 00:06:40:02
Martin
Sure. So a little bit for your your listeners and who who might not be familiar within Friends, an auto subscription business where we subscribe cars out for one year, six months or one year. Traditionally one year. So when we're working with our dealer partners, any of our remarketing partners, we're delivering a unicorn of cars to them. One year, one owner, a very specific number of miles that no one really gets on the use market space right now.

00:06:40:04 - 00:07:03:19
Martin
So we do expect a higher quality, a higher level of quality. And the expectations on VIN are definitely different than those coming out of a lease for for these partners. So we do condition reports with all of our partners, all of our compounder partners. When our cars are being depleted, we take into account some of the industry standards and what we're looking at.

00:07:03:21 - 00:07:26:08
Martin
But for us, there is a little bit a little bit more of a magnifying glass in terms of the scratches on a car and nicks the dings, tired, shredded everything down to Is the radio working as as you expect it to? There's obviously a lot of big buckets in there. But what's most important is, is generally pulled up on our condition, reports from our third parties.

00:07:26:10 - 00:07:48:05
Martin
And when we find the that our cars are coming back and not in the condition they are, we might fall out of presale agreements with some of the providers we have. And that's when we have to move towards auctions or finding a different partner. Okay. So it's so important for Finn to maintain the quality of the vehicle so that we can get it sold at the end.

00:07:48:07 - 00:08:08:05
Marc
The ultimate that it comes down to you being able to keep track as best you can exactly in that respect. So there's a lot of different technologies that can help here, obviously, and there's a lot that I'm sure you're exploring. You're using you're hoping that comes on the on the line soon enough. But when you're working to identify vehicles and like you're saying, when you're inflating them, you have to get them into the system.

00:08:08:07 - 00:08:20:19
Marc
When you're deflating, you've got to get all those condition reports. Let's talk a little bit about the tech side of it. What kind of technology are you using? What are you looking forward to using? Where is there a gap? I'm curious on how this is all collected. Sure.

00:08:20:21 - 00:08:54:09
Martin
So it's interesting. Finn uses a little bit of what we call proprietary, but it's it's a lot of integrations with companies called like Integra Matte, no Code automation software, so that we don't have to use any other third party. We just get the data directly from, I don't know, a compound's condition report, and then we're able to build that directly into our database and we use a no code database on our site as well.

00:08:54:09 - 00:09:14:02
Martin
A company literally called Noko, which allows us to be as flexible with our data models as we as we possibly need to be. The the follow up on there is, you know, what are some of the tools that we use on top of those types of things. Yeah, so thin doesn't use any external fleet management software right now.

00:09:14:04 - 00:09:40:09
Martin
We actually have built all of our customer success management tools. Delivery management tools are all in-house via a company called Retool, which allows the mixing and matching of different nodes with that data model data layer that I talked about a little bit before so that we can be building whatever we need to and iterating as quickly as possible rather than relying on someone else to iterate.

00:09:40:09 - 00:09:41:16
Marc
Yeah, it needs to be in your system.

00:09:41:16 - 00:09:42:18
Martin
Exactly.

00:09:42:20 - 00:09:54:06
Marc
So you're using this. Where do the gaps lie then? So you have obviously there's always going to be room to grow in your growing company as you move into different markets. Where are you finding these gaps are when it comes to collecting this type of information?

00:09:54:09 - 00:10:04:18
Martin
Sure. It's interesting. One of the big gaps that we've seen, that the data gaps that we've seen is what's happening actually, when a customer has a car.

00:10:04:23 - 00:10:06:18
Marc
Okay. Yeah. Because they're being actively used.

00:10:06:19 - 00:10:15:12
Martin
Exactly. Their the word telematics is a little bit of a the boogeyman in our space right now.

00:10:15:12 - 00:10:16:14
Marc
Don't follow me kind of.

00:10:16:16 - 00:10:19:12
Martin
Yeah No and maybe especially in the US.

00:10:19:12 - 00:10:20:22
Marc
Yeah they're more sensitive.

00:10:20:22 - 00:10:47:22
Martin
Exactly. Customers don't love the idea of Big Brother watching you at all times. So we're not getting the the insights that we might want on braking, reckless driving or, you know, physically major stops that are probably an accident. So there's a lot of downstream things that we're not getting, the insights we need or want. I think want is.

00:10:48:03 - 00:10:51:12
Marc
The view on as much data as you possibly can have. Every company wants.

00:10:51:14 - 00:11:09:01
Martin
Everything. Exactly. So our cars only come up and the condition of the cars are a little bit of a black box until we actually get them back. Absolutely. So that, I think, is the biggest data gap in what we have right now, which is, to be fair, quite a large one. Yeah.

00:11:09:03 - 00:11:12:04
Marc
Is there I mean, obviously you guys are going to be working to close that gap.

00:11:12:08 - 00:11:12:24
Martin
Mm hmm.

00:11:13:01 - 00:11:33:10
Marc
Is it rely on solutions that aren't on the market to come to market? Does it rely on the customer itself getting involved, like engaging with them directly? Because that's the other option instead of collecting it all automatically get them to engage with you. And maybe there's some incentive or loyalty programs like is that is it going to take that kind of buy in from the customer to get that information?

00:11:33:10 - 00:11:56:08
Martin
Oh, absolutely. There there's definitely that element of customer buy in. There's definitely the element of finding the right provider. There's also the element of regulations. What states are in the U.S., Can we do this? Which ones can't we? Because that's not even something that, you know, telematics is not something that our antiquated laws ever took into account when they were building privacy laws.

00:11:56:09 - 00:12:05:14
Martin
No, not so. It's a delicate balance between all three trying to figure out the best solution for for our customers longer term and for our fleet, rather.

00:12:05:16 - 00:12:25:08
Marc
Yeah. And ultimately, it creates a better and experience as well, because if they're going to get more information, you're going to get more information. The relationship is better, but it is something that does need to still change and that change is going to be a bit of a challenge. Do you feel like the customers and obviously in the B2C space, are people ready for that, do you think, or do they just the whole point of this is just subscription.

00:12:25:08 - 00:12:33:05
Marc
I want my car and get in and go, are they ready for that kind of a thing or is that going to be maybe more of a wall to climb?

00:12:33:07 - 00:12:43:24
Martin
It's it's a bit of a wall and you alluded to it a little bit before in terms of the incentive space. I think dollars talk, no matter where you go.

00:12:43:24 - 00:12:45:04
Marc
In there.

00:12:45:06 - 00:13:09:01
Martin
And we've definitely seen it, especially in the insurance space and broadly within the US, a lot of insurance carriers in the US have started to build telematics as part of the program and say, Hey, you will get a lower rate on your insurance per month if you show that you're a good driver, If you show that you don't get into accidents and you just have this little dongle in your car at all times.

00:13:09:03 - 00:13:14:21
Martin
And I think adoption is actually been quite high, at least relatively high compared to what? Because there's.

00:13:14:21 - 00:13:16:12
Marc
An incentive. There's a financial incentive.

00:13:16:13 - 00:13:30:18
Martin
Exactly. The the difficulty with that is actually there's also been penalties with with people because I think 80% of drivers think that they're better than average, statistically impossible to actually.

00:13:30:18 - 00:13:34:01
Marc
Driving around New York for two days. I'm on board with that. Yeah.

00:13:34:05 - 00:13:50:07
Martin
Yeah. So there's a lot of people who who actually might get into a car, put the telematics in there and say, and we might have to say, actually, you're being penalized for this. And that's something that we don't want to get into either. Not yet. Especially while that barrier to entry is quite high.

00:13:50:09 - 00:13:57:03
Marc
Yeah, it looks like it's going to be a bit more of a manual, maybe not fully automated all the way, but you still want to get this data somehow.

00:13:57:06 - 00:14:19:08
Martin
Exactly. I think no one likes the black box of Hey, I'm going to get charged at the end of my subscription because of damages, because of mileage, because of anything. Our our, our remarketing partners don't want it. Our customers don't want it. Frankly, we don't want it either. Absolutely. Those are the types of things that prevent someone from being a customer for you from for a long term.

00:14:19:14 - 00:14:35:04
Marc
Mm hmm. Which is how you're going to, you know, you're breaking into this market. And as you go state by state, everyone's going to present his own challenge based on their legislation, like you said, thereby in their culture. It's so it's so diverse here. That is a tremendous challenge. I've had to be.

00:14:35:10 - 00:14:36:04
Martin
Absolutely.

00:14:36:09 - 00:14:37:20
Marc
That. I guess that's kind of the fun of it.

00:14:37:20 - 00:14:41:02
Martin
That's why we're here. It's why you take on challenges like this.

00:14:41:03 - 00:14:54:06
Marc
Yeah. And it takes the team like it takes a cultural approach in the team to want to go for that is I guess that's part of what you guys do here. And it's you have to be pretty particular about who's on the team so that you're not daunted by the challenge. But everyone is excited about the challenge.

00:14:54:06 - 00:15:15:16
Martin
Exactly. I think over the past, what, two years, we've been operating here in the U.S. as an organization, not necessarily cars on the ground. The big focus on our organization is how do we make sure that we're building a culture of people who want this to grow, who are willing to put in the work, and, you know, a triple AA team that will make this work.

00:15:15:18 - 00:15:19:08
Martin
And that's that's a part of that understanding of our customers, too.

00:15:19:13 - 00:15:34:01
Marc
Yeah, I love it. So I'm a little bit of a different page. I'd be remiss if I didn't take the opportunity to ask you about your time at Uber, because I think that's a tremendous thing to have in your back pocket. Now, you're obviously with them while they were disrupting the industry massively as they continue to still do.

00:15:34:01 - 00:15:55:09
Marc
And now you're in with Fin and you're continuing to disrupt this side of the industry. So disruptions kind of your game on the auto side. But I'm curious to know, looking back at the time you were with Uber and going through all the challenges that you faced, do you feel like there's learnings that you can take forward into what you're doing here based on the challenges that you faced back then and maybe have a bit of an upper hand going into them now?

00:15:55:09 - 00:16:00:09
Marc
Obviously the challenges are different. Yeah, but maybe the theory is the same. Do you take things like that forward?

00:16:00:11 - 00:16:32:09
Martin
Absolutely. Both on the positives and the negatives. Just to be fair. But it's interesting, the key learning really is for letter companies. It's the only way to go. This is really the only way to go. But no, I think the biggest learning that I've taken from my time, from from Uber to here is building out a new space is an interesting, complex challenge.

00:16:32:11 - 00:16:39:22
Martin
Could you imagine? I don't know, eight years ago, me saying, Mark, just go get in a stranger's car.

00:16:39:24 - 00:16:44:15
Marc
I was talking about this with a friend the other day. You're exactly right. You've never met them. Get in his.

00:16:44:15 - 00:16:51:13
Martin
Car. Yeah. And trust that you'll get to the place you need to. I don't know about you, but my mom always told me. Never get in a car with strangers.

00:16:51:18 - 00:16:53:14
Marc
Kind of the opposite. No.

00:16:53:16 - 00:17:20:17
Martin
My mom is the biggest user of Uber that I know, partially because I work there. But, you know, she she she really loves it. I think similarly, Finn is facing a similar challenge. Our customers here in the US across the globe have been preconditioned to know rent by lease know there's there's a whole new way of getting into a car on a on a regular basis.

00:17:20:17 - 00:18:00:07
Martin
And you know what? Uber did really well was making it affordable, making it accessible and making it safe. And, you know, similarly, Finn has a an interesting challenge, a similar challenge to to to accomplish as well. We need to make it easy. We need it to be accessible. We need to be safe so our customers will always trust that getting into a Finn car is just as easy as renting, buying or leasing, or even just getting into an Uber that level of revolution is one that takes time and one that I'm really confident in.

00:18:00:07 - 00:18:04:08
Martin
Like you said, our team's ability to actually execute on that.

00:18:04:10 - 00:18:29:22
Marc
So I think the interesting contrast between what you're saying with Uber and what you're doing here is when you were told to get in a stranger's car, it shook the industry massively that no one was taking traditional means, like taxis were forgotten about. I mean, it's bounced out since, but. Right. The taxis had to adapt their strategy to go closer to that model where there is the prepay or the ordering or the application or whatever it was, because before Uber, you just had to stand on the side of the road or get the hotel to call you a taxi.

00:18:29:23 - 00:18:48:18
Marc
Yeah, but what you're doing with Finn is you're never going to get rid of people owning cars. No, you don't want that. I mean, there's, you know, but you want a certain amount of people. You want to grow the market of subscription base. I think we didn't exist before and it's growing. How do you see that balance working out with ownership leasing?

00:18:48:18 - 00:18:56:07
Marc
And because you're going against the OEMs in some respect. But it's an interesting complex that it's kind of facing it.

00:18:56:07 - 00:19:26:08
Martin
It's definitely a conundrum, right? But really Finn's intent is we want to work with dealers, we want to work with all these different partners. You know, we want our rental companies to eventually buy Finn cars after its been in one year's subscription because they need a way to buy cars as well. Our dealers will always need or we will always need dealers because our customers need somewhere to get their car serviced.

00:19:26:10 - 00:19:49:05
Martin
They need oil changes, they'll need their tires rotated, they'll need this. And the only way that Finn grows and thrives in the industry is if it's not a direct head to head with dealers. It's not a direct head to head with car rental companies. It's a partnership where we can continue to grow together because people love buying cars.

00:19:49:05 - 00:19:50:03
Martin
Yeah, people.

00:19:50:04 - 00:19:50:14
Marc
Change.

00:19:50:14 - 00:19:53:04
Martin
Its now. It's not going to change, especially here in the US.

00:19:53:04 - 00:19:54:21
Marc
Yeah, that's true.

00:19:54:23 - 00:20:00:13
Martin
And if we can just get more cars into the hands of more people, it's a win win win for everybody.

00:20:00:19 - 00:20:13:24
Marc
Yeah. And it allows people to be more open to future change as well. All these changes are progressively moving us forward. If Uber didn't open the door, none of the other companies would have opened. And then you have the scooters doing the same deal. Right. And you got it's all connected.

00:20:14:04 - 00:20:14:22
Martin
Exactly.

00:20:14:22 - 00:20:19:13
Marc
And so you're kind of trying to go about that the same way. But on a subscription side.

00:20:19:15 - 00:20:33:13
Martin
Exactly. I think one of the the amazing things about Finn and one of the the similarities we kind of draw is the the relationship that Amazon has with someone like Nike.

00:20:33:15 - 00:20:34:04
Marc
Okay.

00:20:34:06 - 00:21:03:02
Martin
Right. And in this situation, Finn is Amazon, Nike is an OEM. Yeah, right. Nike still has nike.com Nike still has sales, direct sales outlets. They work with Macy's and Nordstrom. We can do the same with any OEM and we're just a way for all of the Nike's, Adidas, etc. of the world, all of the major OEMs and their dealer groups to get cars more on the road.

00:21:03:04 - 00:21:09:19
Martin
And I think that's if we are able to be the Amazon of cars, that's it's a pretty good place to be in.

00:21:09:24 - 00:21:31:13
Marc
Yeah, I think that's great. One of the last things I wanted to ask and it's just kind of get on the back of my mind is, is the biggest challenge that you're facing now. So when you look at bringing vehicles in, deflating the vehicles, obviously the whole operation of aside, what's the current big obstacle that your team is working on and you're working on to jump over?

00:21:31:15 - 00:21:59:10
Martin
I think the the larger thin obstacle that we're trying to come over is is one that the industry is in generally facing right now. It's the lack of cars. Yeah, I can't I can't remember that any time in in our lifetimes that there were this few new cars on the road and that used cars were as high. The price as they are right now for Finn, we want to grow as much as we can.

00:21:59:12 - 00:22:20:14
Martin
It's about getting our hands on the right cars for our customers at the right prices, and it's just a matter of time before our our, our fleet team, our, our, our purchasing a vehicle team will be able to to build the right connections that we can make sure that we are able to offer as many OEMs on our platform as possible.

00:22:20:16 - 00:22:25:09
Martin
As soon as that's as soon as that's ready, I'm ready to deliver some cars.

00:22:25:10 - 00:22:36:12
Marc
Yeah, it seems like new new cars, though, are becoming like your time to deliveries and just getting longer, like 18 months, 24 months for a new car. I mean, that's ten years ago. It wasn't an issue. You go to a car, they're they're.

00:22:36:12 - 00:22:37:02
Martin
Exactly.

00:22:37:02 - 00:22:41:19
Marc
Now you have people like ordering an Audi and it takes, you know, two years to get the car.

00:22:41:22 - 00:22:42:05
Martin
Yeah.

00:22:42:05 - 00:22:44:10
Marc
And that makes your model massively.

00:22:44:10 - 00:23:10:02
Martin
Exactly. And the used car that's sitting on the lot right now is probably more expensive than that new one. Yeah. It's it's kind of insane to think about that. But as as we are able to grow. AAM our our model mix as we're able to procure more cars were able to get cars in two days to customers so that dynamic of hey where you're ordering 118 months out becomes four guys in.

00:23:10:02 - 00:23:10:21
Marc
Your driveway now.

00:23:10:23 - 00:23:14:12
Martin
Exactly and that's a is a huge value proposition for what we offer it.

00:23:14:12 - 00:23:18:05
Marc
That's huge. I wouldn't have thought of it that way but that's actually a great turn on it. Yeah.

00:23:18:11 - 00:23:42:15
Martin
And once again, to that, that relationship between dealers, the relationship with OEMs is sometimes customers view us as a little bit of a extended test drive. Hey, I'm not sure that I want to get into a an EV long term. I don't know if my family really needs a seven seater SUV. You know what? Let's try it out for a year.

00:23:42:20 - 00:23:49:07
Martin
Let's see what happens with within and maybe that that turns out into a sale for a dealer or for someone long term or.

00:23:49:07 - 00:23:58:21
Marc
A long term subscription after that. Like they're changing their. Yeah, it's a good way to do it. But you're not committing to it. You're not putting any money down. It's not a big out-of-pocket expense. You're renting it for that period.

00:23:58:23 - 00:23:59:19
Martin
Yeah, exactly.

00:23:59:21 - 00:24:00:08
Marc
I love it.

00:24:00:09 - 00:24:01:16
Martin
Subscribing.

00:24:01:18 - 00:24:04:16
Marc
Right. Subscribing. That's the model.

00:24:04:17 - 00:24:05:15
Martin
Exactly.

00:24:05:17 - 00:24:25:07
Marc
It's perfect. I think it's a really nice way to finish as well. And lots to think about. I think lots for the audience to digest and those in the industry to really kind of step up their game. Like we said, if you're not continuing to innovate how the industry works, you're going to be left behind. Companies like you were just going to come in and disrupt and leapfrogged all these other guys because they're not thinking the same way.

00:24:25:07 - 00:24:27:01
Marc
So it's a good call to action for everyone as well.

00:24:27:05 - 00:24:43:11
Martin
Exactly. I think a rising tide lifts all boats. Yeah, I hope we can we can do that with the industry and really appreciate you and any any team that that you guys are doing this to educate so many people on on what we're, what we're trying to do as well.

00:24:43:12 - 00:24:58:02
Marc
Yeah that's all we want to do. Just bring notice to it. Other little dark corners of the industries right now. It's perfect. MARTIN, thank you so much for your time. It's been fantastic to talk to you. I've learned a lot in this chat. Any final notes before we sign off?

00:24:58:04 - 00:25:13:02
Martin
No, I think I hope I was able to give as much on, you know, what Finn's doing with what I view as the future of the the fleet management space as possible. Once again, thank you again for having me. It was a pleasure to chat and looking forward to future conversations as well.

00:25:13:02 - 00:25:16:20
Marc
Absolutely. And thanks for having me in your office in the beautiful city. It's nice to be here.

00:25:16:20 - 00:25:17:19
Martin
Enjoying New York while you're.

00:25:17:19 - 00:25:34:18
Marc
Here. Absolutely. And for everyone watching, thank you so much for joining us on this episode. It's been great having you with me. Hopefully you've learned a lot, just as I have. If you have any questions about what you heard on this episode, head down to the description of the video here and you will see LinkedIn for both Martin and myself.

00:25:34:18 - 00:25:49:11
Marc
Please reach out, ask questions. We want to keep those conversations going and encourage further discussion on the topic. With that will bring this episode to a close. Everyone have a fantastic day wherever in the world you may be. We'll see you on the very next episode of the auto show very soon. Bye for now.