On improving technology integration:
We think of it in individual pieces. But if you think of it as an ecosystem, we have an ecosystem that's very tactical. It's not strategic. It's not systems-oriented. And none of those competing vendors or competing platforms talk to one another.
Everyone is layered on top of one another, and it slows things down, makes them much more complex, makes them much more costly. And it's supposed to elevate the customer experience, and it really doesn't do that.
The only way you can deliver on that promise of digital retailing is to consolidate it into an ecosystem where all the players — the OEMs, the dealers, the developers, the information providers, everybody — is in an integrated ecosystem after the fact.
That's a great vision. It's very difficult to get to, and that's what I think everybody's working furiously to try to achieve right now.
On digitizing signatures:
There's, on average, about 65 to 70 documents included in a deal jacket that are mostly signed individually with a wet signature by the customer. It's their OEM documents, there are state documents, there are financing documents, there are dealer documents. We've mapped the process, and there is a stack 6 inches deep of signatures and requirements to buy a vehicle — very complex, very time consuming.
The [Departments of Motor Vehicles] are state-run, not federally run, so there's 50 different DMV requirements. And we've got some states that are going away from wet signatures to electronic signatures that they'll accept, odometer readings, things like that. There's things that you have to attack one state at a time, instead of federally, but it's coming. And it'll pick up momentum.
It'll be like all other emerging technology — there will be a tipping point where all of a sudden, whether it be cellphones or anything else, all of a sudden, everybody is there.