Dealer associations are tasked with safeguarding their members’ best interests across the board. However, vehicle affordability, high inflation, and rising interest rates are looming over dealers. Recently, CBT News anchor Jim Fitzpatrick sat down with Don Hall, President and CEO of the Virginia Automobile Dealers Association, to discuss these uncertainties at this year’s NADA Show.
Key takeaways:
1. Despite economic uncertainties, dealers manage to make it work in the worst of circumstances.
2. Dealers are taking notice of floorplan assistance for the first time in a while, and how much they are spending on cars, is having a significant impact on their bottom line.
3. As OEMs attempt to exert more control over the retailing process, the majority of OEMs are considering deploying the characteristics that define an agency model.
4. Virginia is the first state to introduce legislation that would prohibit OEMs from having agency models.
5. 140 members of the general assembly are supporting the consumers and dealers to ensure there aren’t agency attributes being forced on dealer agreements in the future.
“a happy consumer means repeat, referral, and success in the business.” — don hall
Notable background:
— Don Hall has served as president of VADA since 1996.
Click here for more 2023 NADA Show coverage on CBT News.
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