At the recent 2024 NADA Show, CBT News anchor Jim Fitzpatrick had the pleasure to speak with NADA CEO Mike Stanton, outgoing Chairman Geoffrey Pohanka, and incoming Chairman Gary Gilchrist.
Catch all of CBT News’ coverage of the 2024 NADA Show here.
Key takeaways:
1. The men recounted their experiences over the past year, the transition of leadership, and the initiatives that have been put in place. Pohanka discussed NADA’s guiding principles and the challenges and initiatives surrounding electrification and consumer data protection, highlighting NADA’s continuous efforts despite some initiatives remaining incomplete.
2. Stanton emphasized the importance of unity and collaboration within the automotive industry, particularly in facing challenges related to electric vehicles (EVs) and regulatory pressures from the FTC. Stanton also touched on the need for a more balanced approach to EV adoption, expressing concern over the government’s rapid push and advocating for the dealer’s perspective in discussions with key governmental bodies.
3. Gilchrist shared his personal journey from aspiring veterinarian to automotive retail, marking his transition to NADA chairman as a culmination of years of dedication to the industry. He discussed his approach to viewing challenges as opportunities, especially in terms of vehicle affordability and the adoption of hybrid and electric vehicles. Gilchrist outlined his priorities for 2024, focusing on strengthening OEM relationships, dealer involvement, and government outreach.
