NADA 2023 Recap

In this episode Michael takes us on a journey through the recent NADA 2023 event that took place in his hometown, Dallas. Michael reflects on the unique energy of the event and how attendees were more focused and open to conversations compared to previous NADA conferences.

Michael also touches on the buzzwords that are present during the NADA event, such as the conversations around Google Analytics Four and the concept of returning back to the basics.

While there are many factors contributing to the shift in market conditions, Michael highlights the importance of moving beyond the sentiment of returning to basics and into tangible action. Building relationships, having a service mindset, and going above and beyond are key elements of the basics in the auto industry. 

Returning to the Basics in Car Sales

The recent NADA conference had a lot of buzz around the topic of returning to the basics in car sales. While some people in the industry are calling for a return to basic principles, others are skeptical of the idea, given that many people in the business today have never experienced pre-pandemic conditions.

One of the key challenges with returning to the basics is that people may have different interpretations of what these basics are. However, the reality is that building relationships of trust should be the foundation of car sales. This means having a service mindset over a profit mindset, and going above and beyond to provide great service to customers.

Despite the challenges, returning to the basics is an important consideration in the current market conditions. Inflation rates are up, interest rates are up, and people are paying more for basic necessities than ever before. This means that people are starting to shift their focus to preservation mode and pay more attention to their expenditures.

At the same time, supply chain shortages and price drops are making it a competitive market for dealers. This is why it is now more important than ever to focus on the basics and differentiate yourself from the competition. One way to do this is to offer great service, doing things that no other sales professional or car dealership is willing to do.

However, some people may be handcuffed by regulations and other factors that prevent them from offering the level of service they would like. Nevertheless, it is important to strive for excellence in all areas, including building relationships of trust and providing great service to customers.

In conclusion, while returning to the basics in car sales may be challenging, it is an important consideration in the current market conditions. Whether it means building relationships of trust, offering great service, or simply focusing on the basics, dealers should strive to differentiate themselves from the competition and provide the best possible customer experience.

Overall, Michael provides a comprehensive recap of the NADA 2023 event and sets the stage for the next several episodes of the podcast.

Listen to the full episode for insights and context from Michael Cirillo himself! 

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