It is officially the new year. 2023 is here, and individuals across the automotive industry are ready to make a splash in a big way. But where exactly is anyone going to make a splash large enough in the middle of winter? In Dallas at NADA 2023, of course. This year’s show is right around the corner. And, as car prices continue to fluctuate, dealers must watch through the windshield while observing the rearview mirror to get a sense of where we are going based on where we have been.
What do I mean by this?
In simple terms, we need to pay attention to what’s going on around us. We've witnessed unprecedented levels of volatility in the last couple of years. And seasoned dealers have been left scrambling to right-size inventories more than once. We’ve experienced various pain points time and time again where dealerships didn't have enough vehicles, too many vehicles, or even the wrong vehicles. This is what’s currently in the rearview mirror behind us.
But what is in front of us? Everything. Now is the time to prepare to pivot ahead of market fluctuations and inventory volatility by leveraging better data to value cars accurately, buy more profitable vehicles, and manage your inventory correctly. Success comes from putting together an equation for understanding history and applying it to the future. Through this, we can come up with ways to explore how to diversify an acquisition strategy that includes creating a better buy center armed with unique methods to purchase from consumers.
Look, at the end of the day, many factors are looming over the automotive industry. Their shadows cast doubt on dealers and consumers alike. But just because there are storms in the forecast doesn’t mean we don’t stand a fighting chance.
And that’s what NADA 2023 is all about. This year’s show is poised to help dealers make a splash in automotive retail. But this particular opportunity is about so much more than just that. True, there are many automotive events throughout the year. But none are as important as NADA. As you are preparing for this year’s event, get ready for all of the next-level opportunities to network and engage with peers while learning from all of the top-tier workshops and educational sessions.
I want to help you learn more about owning your used car market. To help you accomplish this, ACV is hosting a series of workshops on the show floor. We are calling them TEC Talks and they will focus on transparency, education, and community in the automotive retail world. I encourage you to stop by booth #3141 to learn more on topics ranging from:
- Inventory Independence
- Facts vs. Fiction: Making the Right Inventory Decisions
- Know the Right Inventory and the Right Amount of Inventory
- Better Buying = Better Profitability
- Back to Normal, Now What?
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Each quick, 15-minute session is created to pass on the information you will need to succeed in the automotive retail industry. There are plenty more TEC Talks at the booth, and we will be welcoming dealer partners to the stage from all over the country. You’re not going to want to miss out on these chats.
But it wouldn’t be NADA without an outstanding schedule of speakers and workshops. With so many options available, this year’s show is going to stand tall while helping dealers like yourself learn new and productive ways to be successful. I look forward to seeing you at NADA 2023.
Want to learn more? Be sure to attend Randy Barone’s variable operations workshop, “Windshield or Rearview Mirror? How Do You Manage Used Cars?”, on January 26, 2023, from 1-2 pm in room D175.
