This week, members of our team are onsite at the 2017 NIADA Convention & Expo, which runs Monday through Thursday at The Mirage in Las Vegas. Stop by Booth #1825 to visit with these three fine folks:
Used Car Week has had the great honor and pleasure to partner with NIADA for the past couple of years to extend the UCW experience well after the event is over.
It is through this partnership that we are able to provide past and potential new attendees access to recorded sessions from the Used Car Week events in 2015 and 2016. Shout out to the video production manager of NIADA.tv Reid Mullins and his crew for all their hard work.
Looking at NIADA’s 2017 agenda has me wishing I could: A) teleport, B) clone myself and C) survive on very little to no sleep at all. But as luck would have it, not one of those wishes are likely to come true. So instead, I’m recommending three sessions for those of you who are attending the event.
Floorplanning Tips for the Independent Dealer
When: Tuesday, June 13 at 4:15 p.m.
NIADA’s panel of industry experts will provide tips for securing and managing floorplan financing, an important element of success for many independent dealers.
Last year at the SubPrime Forum, now known as Auto Fin Con, we hosted a panel discussion that covered how financing sources can gain competitive advantage with dealer financing and how this impacts retail financing opportunities.
The discussion addressed how floorplan inventory lines of credit can serve as the foundation for a strong relationship between the dealer and the finance company (which is crucial when times get tough).
State of the CPO Market Today and Tomorrow
Speaker: Tyson Jominy, J.D. Power
When: Wednesday, June 14 at 3:15 p.m.
As the CPO market continues to transform the used vehicle retail industry, Tyson’s presentation covering the major trends impacting dealerships going forward is on our “must-attend” list at NIADA. Plus, you can bet your bottom dollar that Marilu McQuilkin will be sitting in the front row, obsessively taking notes, during Tyson’s presentation.
Our team met Tyson, who is J.D. Power’s senior director of automotive consulting and analytics, for the first time last year and have been keeping up with his work ever since.
Tyson and J.D. Power’s Jonathan Banks teamed up for a keynote presentation at Used Car Week 2016. Their address delved deeper into what increased CPO purchase options for consumers mean for dealers and the market as a whole.
An Evolutionary View of Wholesale Acquisition
Speaker: Majd Saboura, vAuto
When: Thursday, June 15 at 3:15 p.m.
At the closing of 2016, the industry anticipated that finding vehicles may be less of a challenge, as the market was flooded with off-lease units. But finding the RIGHT vehicles in targeted ways, using the existing and emerging tools and technologies, can still be tricky.
With the evolution of technology, and the big impact sourcing wholesale vehicles at auction has on bottom lines, it’s time to establish a sustainable strategy that will meet goals for front-end profitability and sales velocity.
There’s so much more to explore and discover at the 2017 NIADA Convention & Expo; just look at the agenda!
Remember that our team will also be onsite at Booth #1825 and they’d love to see you and chat you up.