Get lost in the biggest takeaways from NADA 2020, including the future of franchise dealerships, the need for millennial shoppers, and a message from Mary Barra. Plus, advice from the nation’s top CPO dealers.
FROM AUTOMOTIVE NEWS: Incoming NADA Chairman: ‘Dealers Thrive on Disruption’
The leader of the National Automobile Dealers Association comforted show attendees by ensuring a continued focus on franchise models, growing diversity in the workplace, and the timeless strength of the auto dealer is enough to take on the ever-changing market.
FROM WARDSAUTO: ‘We Have to Win Together,’ GM’s Barra Tells Dealers
The CEO encouraged dealers to sustain mutually beneficial partnerships with their OEMs. According to Barra, storefronts need to stay profitable so that manufacturers have the means to lead the next generation of technology and equip employees with the resources to sustain it.
FROM AUTO REMARKETING: Dealers Share Top CPO Strategies
The top CPO dealers in the nation put an emphasis on the new-car experience at a used-car price, with many prioritizing the details of their brands’ program and rigorous inspections as well as the value of their trained dealership staff.
FROM WALL STREET JOURNAL: High Car Prices Are Locking out Younger Shoppers
Dealers agree one way to combat rising new vehicle prices is by building brand loyalty with the next generation of shoppers, especially as the number of new vehicles sold to people between the ages of 16 and 35 fell 4.5% in 2019.