Last month, we predicted that the 2017 National Automobile Dealers Association Convention & Expo would be one of this year’s highlights. In the days since our time in New Orleans, that prediction has borne out: it’s hard to imagine another industry event topping NADA100 in the next 46 weeks.
As we hoped, we had the chance to engage in many meaningful conversations with dealerships, lenders, and other members of the automotive industry. Our post-convention party at Pat O’Brien’s, the legendary Bourbon Street bar, was a smashing success, and we’d like to thank everyone who came out and had a great time with us.
And I’d like to thank everyone who participated in those meaningful conversations with us! We talked about evolving consumer trends and expectations, as well as how to use the latest technology, compliance-related and otherwise, to drive better business decisions. The latter topic was a major theme of this year’s keynote speeches and workshops, which focused on how dealerships can harness cutting edge data analytics tools to save time and money.
But the most recurring theme by far, throughout our conversations at Pat O’Brien’s and on the show floor, was uncertainty about the future. From increased burdens on international trade to the potential gutting of the CFPB, no one is sure what the Trump Administration has in store for auto dealers and US businesses overall.
That’s not to say attendees weren’t hopeful about the future. Last year was a monumental year for the automotive industry, and forecasters continue to be bullish as we look ahead into 2017. Industry stakeholders wonder if the president’s expressed enmity toward regulations will make it easier to do business in general. The auto industry is currently the most highly regulated sector in the US—bar none—and a different approach to legislation and enforcement could be a boon to many dealerships regardless of their size.
At the same time, original equipment manufacturers expressed some concern about POTUS’ stance on foreign policy and trade. Chillier international relations make it tougher to buy parts from overseas suppliers.
What can dealerships expect from the Trump administration in the foreseeable future? What’s next on the docket? We’re glad you asked.
Compli would like to welcome you to join us and Michael Benoit, partner at Hudson Cook, for “Fair Lending in the Trump Era,” a free webinar on February 28th, 2017. Over the course of an hour, we will cover the latest regulation and compliance news straight from Washington, D.C.; what these changes mean for your business; and what you need to do in response to the changes.
For more information, and to register, click here.
Thank you again for joining us at NADA!