Hello from the 2019 Auto Summit at the NADA Convention

San Francisco was the happening place this past weekend for the National Automotive Dealership Association Convention.  The West Coast had a feel of home to it as I saw familiar faces aboard the outgoing flight and bumped into some Western PA dealers at other events. 

I attended one of the most anticipated events, which was the Auto Summit sponsored by J.D. Power.  The topics ranged from the annual franchise assessment to the digital update to the future of electrification. This was my second trip to the Auto Summit, and like my last summit, I did not leave disappointed. 

The franchise assessment session enabled dealers to compare how their franchise stands against their competition.  The group discussed loyalty, conquest, quality, appeal, service, image, residual value, retail share change and sales per model.  Each category was rated excellent, good, fair or poor.  I have some thoughts regarding more than 30 franchises that were discussed which ranged from high volume, mid/low volume to luxury.  Let me know if you want to discuss your franchise(s).

Ford’s President of Global Ford Customer Service Division, Frederiek Toney, and Cadillac’s Chief Marketing Officer, Deborah Wahl, were the two keynote speakers who discussed a common theme, which was future and innovation.  Mr. Toney discussed electric vehicles and the service impact.  Where does one of the most profitable departments go from here?  Ms. Wahl discussed when electric will be the primary engine and automatous driving is all we know. 

Lastly, digital considerations and dealership reputation cannot be overlooked any longer.  The summit presenters noted that dealerships get their customers to look at vehicles digitally, but they still visited the dealership to complete the sale.  We need to make sure the process is seamless from beginning digitally and ending at the dealerships.  This includes the model, color, credit application and price.  Also, everywhere we go on the internet, we are being rated.  The question is how is your dealership responding to these ratings, positive or negative?

Overall, the trip was worth it.  The automotive industry is still strong.  We need to be nimble as we move into a future with many alternatives.  I look forward to next year’s events in Las Vegas for Valentine’s Day weekend.  If you want to discuss any of these topics, please reach out to Steve Barber.

You’ve heard our thoughts… We’d like to hear yours

The Schneider Downs Our Thoughts On blog exists to create a dialogue on issues that are important to organizations and individuals. While we enjoy sharing our ideas and insights, we’re especially interested in what you may have to say. If you have a question or a comment about this article – or any article from the Our Thoughts On blog – we hope you’ll share it with us. After all, a dialogue is an exchange of ideas, and we’d like to hear from you. Email us at [email protected].

Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.

© 2024 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.

our thoughts on
Auto Industry Value and Economic Indicators
Automobile, Tax BY Steven Barber
Dealers Get an Extension for Time-of-Sale Reports for EVs
Automobile, Tax BY Steven Barber
Shocking! A Dealer Reporting EV Sales to the IRS is Confusing!
Automobile, Tax BY Brett Cubellis
Explaining the Transfer/Advance Payment of Clean Energy Credits and Energy Credits Online Registration
Automobile, Tax BY Steven Barber
How Did the IPIC Method Fare for Auto Dealerships Inventory in Year 2?
Dealership Transactions Are Bittersweet
Register to receive our weekly newsletter with our most recent columns and insights.
Have a question? Ask us!

We’d love to hear from you. Drop us a note, and we’ll respond to you as quickly as possible.

Ask us
contact us
Pittsburgh

This site uses cookies to ensure that we give you the best user experience. Cookies assist in navigation, analyzing traffic and in our marketing efforts as described in our Privacy Policy.

×