As the retail automotive industry continues to undergo significant changes, the 2023 NADA Show was especially valuable to dealers, exhibitors, and industry professionals. CBT News had the pleasure to speak with NADA CEO Mike Stanton, outgoing Chairman Mike Alford, and incoming Chairman Geoff Pohanka, to discuss the importance of this annual event, and some of the big initiatives for NADA this year.
Key takeaways:
1. After a challenging couple of years navigating the COVID-19 pandemic, dealers were excited to fully embrace the automotive community again and soak in the opportunities to connect with one another.
2. NADA continues to fight on behalf of dealers for temporary LIFO relief.
3. NADA seeks dialogue with FTC regarding new Safeguards Rule compliance.
4. Preparing for electrification: Only one out of two consumers will qualify to own an electric car due to cost and charging infrastructure. The average price of an EV rose $14,000 in 2022.
5. NADA leadership calls for its dealer members to increase their engagement with state and local legislators.
“We need to work and speak as one voice.” — Mike Stanton
Notable background:
— Geoff Pohanka is also the Chairman of Pohanka Automotive Group, which is over 100 years old.
— Mike Alford is the President of Marine Chevrolet and was 2013’s TIME Dealer of the Year.
— CEO Mike Stanton took the reigns from Peter Welch in 2021 after serving as the NADA’s COO.
Click here for more 2023 NADA Show coverage on CBT News.
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