Washington, DC. These two trade association sponsor this event each year to discuss topics that affect automotive lending. Almost all captive and large automotive lenders were represented at the forum.
The lenders top concerns included cyber security, falling vehicles values and management of ancillary products. Dealers' top concerns were pressure on profitability, new regulatory threats by the CFPB and FTC, and existing regulatory and legal compliance challenges.
It was the first time in several years that regulatory threats did not top both lists. While regulatory threats still loom, it is telling that both lenders and dealers feel other perils have surpassed those.
While a business-friendly administration should keep the regulatory threats at bay, both organizations will have to stay vigilant and watch the beltway regulators!
Dealer Attitude Survey
NADA initiated the Dealer Attitude Survey in 1985 to capture dealers' opinions on key industry issues affecting dealers' relationships with their manufacturers. As the auto dealers' report card to manufacturers, the semiannual and anonymous Dealer Attitude Survey enables NADA Industry Relations staff, your NADA dealer council representative, and your national dealer council chairperson to address your concerns at meetings with the senior management of each manufacturer.
The NADA Dealer Attitude Survey is now conducted exclusively online, allowing NADA to address your issues in a more timely manner. The semi-annual Dealer Attitude Survey (winter and summer) helps measure dealer opinions on franchise value, the dealer/manufacturer relationship and—along with other operational areas—the helpfulness of manufacturer personnel.
Manufacturers never see a dealer’s individual responses. The responses for dealers with the same franchise are combined and reported together by franchise, market group (European, luxury, etc.) and geographic region.
Dealerships registered to complete the survey have a User ID sent from firstname.lastname@example.org to their registered (or alternate user) email address.
Once registered, the dealership's User ID is valid for as long as the dealer owns the store. Changes to email addresses can be made at the “Update Registration Information” tab at nadasurvey.com.
If you can't remember your dealership's User ID, click on “Forgot User ID” at the top nadasurvey.com. Use the same email address that was used to register for the survey. A dealer who has more than one email address can try each of the addresses.
The NADA Dealer Attitude Survey summer survey opened July 5. The deadline to complete the survey is August 10, 2017. I encourage you to take time to complete the survey.
Driven Management Guides
These highly praised NADA publications cover a wide variety of topics—from legal and regulatory compliance to best practices in parts and service.
Managers can use the routing feature to assign Driven guides to their staff as required reading. Testing and tracking features help ensure your employees receive the information and are accountable for comprehension.
Each NADA and ATD member dealership has complimentary access to these publications. Check out the topics covered here.