NADA Headlines - 01/29/2018 (Plain Text Version)
Early indicators signal a bustling buy-sell market this year as individual dealers and groups contemplate selling to exit an increasingly complex and uncertain retail world — or buying more stores to gain scale to better compete in that evolving retail landscape. Erin Kerrigan, managing director of buy-sell advisory Kerrigan Advisors in Irvine, Calif., predicts the public groups will be "much more active" in 2018. "Some of them will be making big bets on major groups and maybe even beyond our borders."
The auto industry’s party isn’t over, but some of the guests are leaving. Last year’s sales came in at 17.1 million, the third straight year volume exceeded 17 million, a run that set an industry record. This year, WardsAuto predicts sales of 16.4 million, largely because pent-up demand that had built up during the recessionary years has pretty much abated. The industry has been on a roll ever since, and although, yes, it will slow down this year, no one is building a bomb shelter. The annual NADA convention convenes in March. In addition to the usual business at hand, plenty of Las Vegas parties are planned. And there should be. There remains much to celebrate.
The big economic headlines scream about a better jobs picture, one-time bonuses and a huge rally on Wall Street. All good things that could keep driving car sales. But untold stories of economic anxiety cloud the picture, too. "Credit is tightening at the same time interest rates are going up," Jonathon Smoke, chief economist for Cox Automotive, said in an interview at the Cobo Center during press preview days at the Detroit auto show.
Gov. Jerry Brown outlined a $2.5 billion plan Friday to help Californians buy electric vehicles and expand a network of charging stations as part of a goal of getting 5 million zero-emission cars on the road by 2030. The ambitious proposal to transform California's car culture comes as Brown begins his final year in office and works to set the stage for his environmental legacy to continue under his successor. The plan faces a number of obstacles. Consumers have been slow to warm to electric cars, preferring pickup trucks and sport-utility vehicles.
Through a partnership with neighborhood gym NB Fitness Club, [Boston Volvo Village] offers free gym access to customers waiting to have their vehicles serviced. The perk is an extension of Boston Volvo Village's other service amenities, such as loaner vehicles and shuttles to local retail stores. "People want to use their time effectively while they're waiting for their car to be done," said Ray Ciccolo, president of Boston Volvo Village.
NADA's Advanced Parts Management week-long seminar will be held from Feb. 19-23, 2018, at NADA headquarters in Tysons, Va. NADA instructor Mark Michalski will teach participants how to take their parts department to the next level by improving inventory integrity. Attendees will learn and discuss important topics like parts turn, fill-rate and ways to improve business operations, as well as analyze and discuss their dealership’s performance. Participants will walk away with the tools to make significant process improvements. The key areas covered include Perfecting the Mix, Profit-Centering, Know the Customer Needs, Personnel Techniques, Deep Dive into DMS, Case Study and SWOT Analysis, and Headache Relief – Best Practices. Click here to register. Seating is limited.
Johan de Nysschen, Bill Fay and Jim Farley Slated for NADA / J.D. Power Automotive Forum in NYC on March 27
NADA, J.D. Power and the New York International Auto Show invite you to attend the 2018 Automotive Forum in NYC on Tuesday, March 27.
Auto industry speakers include Johan de Nysschen, president of Cadillac; Bill Fay, senior vice president of automotive operations at Toyota North America, U.S.A.; and Jim Farley, president of global markets at Ford Motor Company, as well as economists and analysts and several panel sessions. Click here for the full agenda.
About 500 automotive and allied-industry professionals are expected to attend. The full-day forum will be held at the Grand Hyatt New York.
Attendees will receive a continental breakfast, two networking breaks, lunch, reception and tickets to the auto show during press days on March 28. The $100 early-bird discount ends Feb. 2. Seating is limited. To register, visit www.autoforumny.com.