The third and final day of NADA’s first ever virtual live Show got down to business as hosts Maggie Clark and Madison Alexander opened the day’s programming on the NADA’s Virtual Live Stage.
But first, the two hosts highlighted all the great programming and content that has occurred so far and is archived for attendees to watch on-demand, including Expo product demos, the Distinguished Speaker Series, and of course, the Live Stage sessions. Meanwhile, expert-led workshops and educational programs are continuing as are the live virtual franchise meetings and the dealer-to-dealer Virtual Exchange.
Surviving and Thriving in a Pandemic
During COVID-19, dealerships have had to adapt to and overcome many obstacles. The auto dealer franchise system has worked well for consumers and dealers, according to incoming NADA Vice Chairman Michael Alford. “The post-pandemic dealer body is going to be stronger and more customer oriented and prepared to deliver an amazing experience,” Alford said. Watch the video below for Alford’s take on how COVID changed dealerships and what the future looks like.
NADA Economic Outlook
Last year, NADA’s Chief Economist Patrick Manzi forecast a slight decline of 1% to 2% in auto sales for 2020. Then, the coronavirus shook up the nation and the industry. Despite the initial uncertainty surrounding business operations in the pandemic, 2020 turned out to be a better year than anyone expected. “The market really outperformed a lot of our expectations,” Manzi noted. Looking ahead, “I’m pretty optimistic that we’re going to continue to see recovery in the new and used sales markets.” Watch the video below to see how low interest rates, additional COVID relief and pent-up consumer demand could turn 2021 into a great year for auto retail.
New Leadership at NADA
A new era of leadership begins at NADA as Mike Stanton takes the wheel as president and CEO. However, the association’s mission remains the same, Stanton said: Working hard for auto dealers. “We have a wonderful team of dealers, a staff that is second to none here in D.C. and we’re very well positioned to overcome any of the challenges that lie ahead,” Stanton said. “NADA is here, we’re your insurance policy. Get more engaged with us. We’re just a phone call or an email away.” Watch this video introduction of new NADA President and CEO Mike Stanton.
That’s a Wrap
Just because the NADA Show is over doesn’t mean it ends. Many of your favorite sessions can be accessed on-demand. Plus, there’s always next year to look forward to as the NADA Show returns (in person!) to Las Vegas. Watch the video below for highlights from NADA Show 2021 including a special behind-the-scenes introduction to the crew and location where Maggie and Madison filmed this week’s videos.