The National Automobile Dealers Association (NADA) conference is right around the corner, and I’m already looking forward to what we’ll see there. It’s not just the automotive industry’s most important event – it’s an opportunity to attend scores of workshops on industry trends and best practices, meet with clients and prospective clients, and reconnect in-person to “talk shop” with colleagues from around the country. And, in fact, from around the world, as we’ll have colleagues joining from Puerto Rico, Mexico, Brazil and the UK. That’s a proof point of the importance of the NADA conference – even on a global scale.
NADA 2024 will be action-packed, and a great opportunity to look at what’s coming down the pike in the year ahead. Here are a few thoughts on what the buzz will be about on the show floor this year.
How to Navigate a Car Buyers’ Market
What a difference a year can make. Last year’s sellers’ market is in the rear-view mirror, and now we’ll hear how dealers plan to handle today’s normalizing inventory and increased competition. A big part of that will be understating and catering to the needs of today’s customers, who have more vehicle-buying options than in 2023.
Thoughtful dealers will be refocused on the basics, including doubling down on sales and F&I training, pairing customers with the right vehicle as EVs continue to be a big part of the conversation, and looking for new opportunities to grow PVR across all products.
