The month of June has kicked off with our team moving full-speed ahead with planning and prep for this year’s Used Car Week
, which will be held Nov. 14-18 at the Red Rock Resort in Las Vegas.
Each year at Used Car Week, the unique market conditions within the used-car industry drive the content, as do the various vendor participants, corporate and association partners, and others who will make Red Rock their home for the week.
This year, I anticipate that one major topic will be the catalyst for discussion and debate both on and off the stage: supply surge.
Even as you read this, there are thousands of used vehicles pouring through traditional auction lanes, digital marketplaces and disruptor remarketing channels into dealer inventory.
Serious questions remain as to how this significant increase in inventory will be managed and how the industry can facilitate the sale — or lease — of these used vehicles to consumers. And serious questions have a way of eliciting serious answers.
As the early agenda comes into focus, the faculty of speakers, panelists and presenters from all corners of the used-car industry is impressive.
At the CPO Forum, America’s Used Car Conference, the data, analytics and information related to supply, pricing, wholesale acquisition and retail sales strategy will provide valuable insights for dealers, OEM and other executives, arming them with an advantage to close the year strong and open 2017 with a head start on their competition.
The SubPrime Forum, in partnership with our colleagues at the National Auto Finance Association, will deliver an unmatched opportunity for auto finance executives across all spectrums to learn, network and return to their offices smarter and better prepared than ever before.
I certainly expect the same with our Re3 Conference. Repossessions and recoveries are such an integral piece of the auto finance and remarketing puzzle, and this segment of Used Car Week has continued to grow in value and importance to the industry.
This year marks the first for the combined meeting of the National Remarketing Conference and the National Auto Auction Association Convention. The planning for this combined event is moving along smoothly, and I credit my staff as well as the Frank Hackett-led NAAA team for making terrific progress in such a short amount of time.
The industry estimates that by combining the NAAA events with Used Car Week, the cost savings in travel, time, lodging, food and more may climb into the millions of dollars. For so many of us who genuinely enjoy the time we spend with colleagues and appreciate the advantage in-person meetings and conversations have for our business relationships and profitability, this is an amazing opportunity.
The NAAA-member auctions, the parent and sister companies, the associate members and more play an important role in the automotive industry, and these businesses continue to be the strength and foundation of the auto remarketing industry.
Saving time, money and providing great value has been at the heart of the auction business since day one. And as the NRC and the NAAA join together, we stay true to that goal by helping the industry save money in expenses, travel time and more.
Supply surge. No doubt about it, it’s here. Be sure you’re better prepared than your competitors to take advantage of the market opportunity for your company and your career.
We want to partner with you to help make that happen. Make plans now to join the smartest people in the industry at Used Car Week in November.