The 2024 NADA Show, aptly themed “Driving the Future,” lived up to its name with a dynamic display of innovation, strategic partnerships, and a renewed focus on the customer experience. Dealer Teamwork couldn’t agree more. We proudly exhibited for our 2nd consecutive year alongside more than 500 vendors participating between 2 massive halls where nearly 16,500 franchised new car and truck dealerships were represented across 23,000 dealers and managers, OEM execs, allied industry and international guests attending the event in Las Vegas last week.

Dealer Teamwork demonstrated that we are, indeed, built for “Driving the Future” of digital transformation in automotive retail by equipping dealers with the tools and resources they need to gain the most competitive advantage in today’s market. Here are a few key takeaways from the event heard on the streets as the most robust :

Overall Sentiment:

The energy was palpable this year with optimism and collaboration being major themes, with dealers hyper-engaged in learning and seeking solutions to create greater efficiencies in their operations and digital marketing.

With a focus on showcasing our latest advancements: Total Search™, Precision Spending, and our patented MPOP® technology, Dealer Teamwork took over our corner of the show, busting outside the box both literally and figuratively, breaking through the status quo with our unique value and proving why more progressive dealers choose Dealer Teamwork with results that far exceed all industry averages, benchmarked performance, and ROI.

Innovation and Technology:

AI and data-driven solutions were everywhere, with a focus on streamlining processes, personalizing experiences, and maximizing revenue streams. The search for efficiency and agility resonated strongly with dealers, a throwback to the lessons learned from navigating the challenges of the pandemic.

Electric Vehicles:

While concerns about the used car market decline and aging issues were voiced, a strong focus on expanding EV inventory and sales was evident. Dealers are looking for more incentives and support from OEMs to make EVs more competitive.

OEMs:

Several manufacturers announced ambitious plans with Acura emphasizing its long-term vision, Mitsubishi revealing a five-year product roadmap, and Mazda setting a higher sales goal for 2024. Customer experience took center stage, with brands like Cadillac focusing on training programs to ensure consistent luxury service.

See below for a broader list of OEM highlights.

Increased collaboration with and participation in OEM provider programs was emphasized as a way for dealers to leverage best-in-class partners, maximize revenue streams, and take advantage of incentive funds available. Dealer Teamwork announced partnerships with every industry OEM, the preferred choice as the 100% approved Certified Digital Marketing Partner in most, and 2 more coming soon. It’s easy to get started with your OEM brand and begin working with Dealer Teamwork today.

From the Top:

The NADA chairman spoke of concerns with the government’s aggressive push towards EVs and potential competition from Chinese manufacturers. Dealers are certainly feeling the pressure at every turn, and he reminded us that consumers are feeling it, too. He suggested that keeping them happy is our most important job and working closely in partnership with manufacturers will help the industry achieve greater things together.

Penske took the NADA LIVE Stage, also noting that affordability remains a hurdle for both retailers and consumers. And while inventory concerns seem to be easing for some, they repeated thoughts about a declining Used Inventory market, increasing Aged Inventory, and expanding days’ supply. Ways to correct a dealership’s inventory mix with EVs was a hot topic elsewhere.

J.D. Power also highlighted customer loyalty challenges due to rising vehicle prices and the need for affordability; however, expects private dealership groups to grow while used prices will continue to fall. To this point, dealers we spoke to directly were apprehensive that the days of the small franchise dealerships are becoming fewer and harder to maintain as many continue to be sold to those larger groups.

Keynote Speakers:

We’ll start on Day 2 by highlighting TIME Dealer of the Year winner, Rita Case. Her acceptance speech was passionate and her presence pierced through the most cynical of hearts. She encouraged dealers to stay the course and fight the good fight despite concerns expressed ‘from the top”. Supported on stage by her children and reflecting on her days as a child growing up in automotive, she quoted her late husband and his belief in the American Dream. “This is the greatest industry in the world,” she said. “It’s so much fun. We are true entrepreneurs, and we are the American dream.” She emphasized the importance of generational dealerships to continue in legacy. It was a message that, intentional or not, perfectly echoed NADA’s “Driving the Future” theme.

Danica Patrick’s keynote followed up with lessons from the racetrack that cinched topics of staying passionate and never stop chasing your dreams. Motivational talks by Jon Taffer and Kurt Warner bookmarked this day with inspirations of resilience, perseverance, and believing in yourself.

Taffer compared his expertise in the hospitality industry as relevant in automotive today more than ever. He poignantly reminded dealers that we are “in the business of reactions” with the analogy of two dealers selling the same brand in the same city. “The one who creates the greatest reactions is going to outsell the guy who doesn’t,” Taffer said. “It is why Walt Disney World does twice the business of Universal Studio.”

With the last day of NADA’s Automotive Super Bowl just one week before NFL’s Super Bowl LVIII takes over Las Vegas, quarterback Hall of Famer Warner took the Main Stage. Promoted as more than a ‘rags to riches’ story, he closed by saying, “Keep on believing in who you are, and what you’re doing. Push through, take your own journey but always believe in what you can do.”

Of Course There Was Fun:

The excitement carried us from the NADA Show to many meetings, dinners, and after-hour events. We were happy to host many of our partners and clients with a seat at the proverbial table. With a menu curated to engage our taste buds and a guest list that provided genuine conversation and partnerships worth savoring, connecting with our dealers beyond a conference setting is something we take great pride in. Thank you to all who were able to join us. Special thanks to our Affinity Partner, the American International Automobile Dealers Association (AIADA) for hosting us in return! We are always eager to celebrate our shared success together.

Check out our NADA 2024 Recap photo albums – and be sure to tag those you know while there!

• Where’s Sean at NADA 2024! (aka The Great Waldo-Inspired Total Search™)
• Seat at the Table (NADA 2024 Partner Dinners)
• Dealer Teamwork at NADA 2024 Booth 7119N

Stay tuned for the Outtakes!

See You Next Year!

We’re so excited to join the NADA Show again in January 2025 from New Orleans. The industry appears poised for continued growth in 2024, with a focus on innovation, collaboration, and adapting to the evolving market landscape.

Summary of OEM Meetings:

While this is certainly not everyone, here are a few soundbites we captured from NADA 2024 OEM Franchise Dealership Meetings.

• ACURA – Slow and Steady Electrification: While other brands race to EVs, Acura takes a measured approach, prioritizing a smooth transition with its first EV, the ZDX, launching this spring.
• ALPHA ROMEO – Building Momentum: Despite facing an overall sales decline in 2023, Alfa Romeo’s new plug-in hybrid Tonale crossover managed to sell 2,096 units in its first year on the market, indicating potential for future growth.
• AUDI – Modest Eye for Growth: After a record-breaking year in 2023, Audi dealerships are cautiously optimistic about 2024, aiming for a modest increase in new vehicle sales.
• BMW – Prioritizes EV Infrastructure: BMW answered specific inquiries regarding plans for expanding their electric vehicle charging network, as well as how they compare to the offerings of other providers like Electrify America. This signals a growing focus on EV infrastructure that’s likely driven by both dealer and customer demand.
• CADILLAC – Ups the Ante on Luxury: This year, Cadillac is prioritizing improved customer service by developing a training program. This program aims to guarantee a consistently high-end experience for every customer across all Cadillac showrooms nationwide.
• CHEVROLET – The Great EV Conquest: Chevy is excited about its upcoming EV launches in popular crossover and pickup truck segments, believing it represents a golden opportunity to attract new customers away from competing brands.
• DODGE: American (EV) Muscle! Dodge is on the verge of joining the electric car market as they unveil the production version of the Charger Daytona SRT EV. They’re calling it the “next generation of muscle” suggesting it will retain the classic muscle car spirit while embracing electric power. The official reveal is happening in about a month, on March 5th, 2024.
• GENERAL MOTORS – EV and AV Ramp Up: GM has made progress increasing electric vehicle production and plans to focus more on North America in the future. And despite challenges, they remain committed to developing autonomous vehicle technology and expect to have self-driving cars back on the roads within the next few years with the Cruise to resume testing soon.
• FISKAR – Takes On Tesla: Fisker positions itself as a serious rival to Tesla, challenging its dominance in the electric vehicle market with the Ocean crossover SUV, boasting comparable features and performance. Fisker also plans to expand its lineup with a midsize electric pickup truck, further diversifying their portfolio and potentially attracting customers considering Tesla Cybertrucks.
• FORD – Keeping Its Promise: While Ford promises to improve its electric vehicle offerings and increase dealer involvement, they acknowledge delays in the rollout of their “EV Certified Dealer” program, which is designed to prepare dealerships for selling and servicing EVs.
• HONDA – Gears Up for EV: After a strong 2023 comeback, Honda shared exciting news with its dealers: the highly anticipated Prologue electric SUV is almost here! This marks the brand’s first foray into the EV market, and dealerships are ready to welcome the new model.
• HYUNDAI – Pilot Shows Promise: Dealerships are now selling Hyundai cars directly to customers through Amazon. This is a joint effort between the automaker and the e-commerce giant, aiming to streamline the car buying experience. While details are limited, the initial results seem positive.
• INFINITI – Ambitious Goals: It’s interesting to hear that Infiniti is aiming for a 10% increase in retail sales this year, considering their impressive 21% growth in 2023, as they consider a strategy that’s well-rounded in both product innovation and customer satisfaction. While the redesigned QX80 offers improved features and luxury, executing on a higher price tag with perfect go-to-market timing may present challenges.
• KIA – Two Pronged Approach: KIA made it clear to its dealers that they are focusing on both electric and gasoline-powered cars. This dual strategy reflects the current reality of the automotive industry. By investing in both technologies, Kia aims to stay competitive and cater to a wider range of customer needs.
• LEXUS – Leases, EVs, and Amazon, Oh My! Lexus dealers are worried about meeting ambitious 2024 sales targets and requested additional incentives to regrow leasing. Concerns about the lack of electric vehicle options and the potential threat posed by competitors partnering with Amazon were also heard.
• MAZDA – Aims Higher: Mazda has set an ambitious goal for itself: selling 450,000 vehicles in the United States this year. This represents a significant increase from their previous target, demonstrating their confidence in the market and their product lineup.
• MERCEDES-BENZ –  Predicts Upswing: Mercedes-Benz pins hopes on new models for 2024 sales boost thanks to a wave of exciting new car releases, including a revamped E-Class sedan and an electric G-Class SUV.
• MINI – Revving Up for Launches: Mini is facing a brighter future after overcoming challenges like outdated vehicle selections and limited inventory. The brand is now gearing up its dealers for a busy year filled with new car launches, expecting to capitalize on the momentum generated by these upcoming releases.
• MITSUBISHI – Sneak Peek: Brand to unveil comprehensive product roadmap for the next 5-7 years in spring.
• NISSAN – Affordability and Digital Boost: Nissan dealerships are hoping their most affordable cars (Sentra, Versa, Kicks) will drive sales in 2024. To help, the OEM is revamping the Nissan@Home online car buying platform in March, incorporating feedback from dealers to make the remote car buying experience smoother and more user-friendly for online shoppers.
• STELLANTIS – Communication is Paramount: Stellantis’ new COO is encouraging dealers to communicate more openly and collaborate more closely with the company in order to aid its North American growth, as they prepare for the influx of electric vehicles in 2024.
• SUBARU – Keys to Boost Sales: Subaru aims to lift 2024 sales to 680,000 units by increasing inventory and electric vehicle offerings. Their main strategy is to significantly minimize production disruptions, ensuring dealerships have enough new cars to sell directly instead of relying on pre-orders. This shift will hopefully revive traditional car sales practices for Subaru.
• TOYOTA – Driven by Demand: Toyota’s approach to electric vehicles prioritizes dealer and customer needs over strict adherence to government regulations and mandates. Inquiries from dealers about leasing support for EVs suggested a focus on customer affordability and convenience. Additionally, their interest in the rivaling Amazon deal may hint at the potential to explore alternative sales channels and partnerships.
• VOLKSWAGEN – Fueled by Optimism: VW dealers in the U.S. are looking for a significant sales boost in 2024 with the late-year arrival of the ID Buzz electric minivan, a highly anticipated addition to their EV lineup. This new offering is expected to attract significant interest, potentially driving sales growth beyond 2023’s 9.3% increase.
• VOLVO – Strong Outlook: Volvo reports they are “poised for growth” after a record-breaking 2023, reporting sales across new, used, and certified pre-owned vehicles. The expectation for continued growth this year hinges on the expansion of their electric vehicle portfolio and wider availability of plug-in hybrid options.