Every dealer, no matter their size, are facing the same familiar obstacles. With interest rates continuing to increase into double digits, vehicle prices steadily declining and ongoing inventory issues, it is very difficult to stay profitable.
The key is staying positive and knowing which strategies to put in place.
James Virgoe, the EVP and Managing Director of GWC Warranty, will be providing insight to help dealers develop strategies to navigate these difficult times during his session “Combat Challenging Times with Strategies to Source Core Inventory and Retain Higher Margins” at the NIADA Accelerate 2023 Convention and Expo at the Wynn in Las Vegas. The session is 11:15 a.m. Tuesday, June 20.
“During my session, you will hear some new insights on how to source inventory, why F&I helps to pave the way for long lasting relationships with customers and also discover why CPO may be one of the keys to success and profitability during these times,” Virgoe said.
GWC Warranty, AUL, ProGuard and Southwest Dealer Services are the administrators of NIADA’s CPO 360. It is a CPO program, which helps independent dealerships increase buyer confidence and their profitability. The program is easy to implement and affordable. The NIADA CPO covers vehicles up to 10 years old with up to 125,000, offering three term and mileage offerings. Information can be found at niada.com/certified-360.
Virgoe’s discussion will be one of 77 education sessions to provide helpful information for everyone from rookies to industry veterans during the largest convention for the independent dealer.
The brightest minds in the independent auto industry — including independent dealers and NIADA 20 Group moderators — will provide information on everything from reconditioning, inventory, finance to marketing. The many breakout sessions will allow you plenty of chances to pick the brains of these leaders over the four days in seven different areas — dealer operations, leadership, CPO, BHPH, data and analytics, marketing and compliance.
Early bird registration ends Monday, May 15. Register now at niada.com/convention.