Used Car Dealer Magazine

FEB 2018

Used Car Dealer Magazine, the official monthly trade magazine of NIADA, offers readers the most current news and info on such topics as industry trends,technology,financing,marketing and dealership operations designed to increase profitability.

Issue link:

Contents of this Issue


Page 25 of 78

W W W . N I A D A . C O M / F E B R U A R Y 2 0 1 8 / 23 Let's start with the big picture. What does this deal mean to members of NIADA, NABD and the used car industry? Why is it important and how does it benefit independent dealers? Steve Jordan: It means NIADA is making it easier for used car dealers, regardless of their business model, to have access to the educational and association resources they need to succeed. Bringing NABD under the NIADA tent is a huge step forward for members of both associations – and for all independent dealers. It's important because our industry is most effective when we work more collaboratively. The benefits of that are enormous – not just for dealers, but for our allied industry partners as well. The most immediate benefit will be the combination of the NIADA Convention and Expo and the NABD National BHPH Conference into what I refer to as an industry Mega- Conference. We at NIADA have always prided ourselves on putting together the used vehicle industry's largest, most informative event, and to that end we have been very conscious over the past few years about beefing up the Buy Here-Pay Here component to better serve that important segment of the industry. That was very much part of the reason we acquired the assets of Leedom & Associates two years ago. The acquisition of NABD will take that effort to another level as we fold the NABD conference into the NIADA Convention to create what we believe will be the largest conference in the used car industry, providing unmatched resources for all dealers – BHPH as well as retail – and industry partners. And the impact extends far beyond just the Convention. It allows us to provide additional educational opportunities – including a fall conference – more extensive member benefits and industry partnerships and more effective advocacy in the legislative and regulatory arena. Ken Shilson: The merger brings together two strong used car industry groups that complement each other. NIADA is the only trade association that represents independent dealers in important legislative and regulatory matters. It has an extensive state affiliate network that plays an active role in such matters and in educating dealers on the rules and regulations in different states. NABD is a special interest group that provides specialized training to more than 14,000 BHPH members. Together, we can provide our members with the training, member services and information they need to be more successful, while helping protect the used car industry from regulatory harm. Ingram Walters: This means incredible opportunity for independent dealers. The opportunity to attend the largest used car conference in the world. The opportunity to find better solutions in the largest exhibit hall in the history of our industry. The combination of these two groups is powerful and the result will be all about creating a better customer experience. Better for the independent dealer, better for all our sponsors, better for the industry. What was the impetus for doing this deal? How long has it been in the works? Jordan: The impetus for doing this deal was consolidation and succession. The BHPH segment of the auto industry has historically been disparate and fractured. What Ken and Ingram have done over the past 20 or so years has brought credibility and uniformity into that space. The NIADA executive committee and I knew it was important for the great work NABD has done for BHPH and subprime auto markets to have a place to live on and thrive. We all felt NIADA was the best place for that to happen. When Ken and Ingram began working on a long-term succession plan for NABD, it was a natural fit for them to approach NIADA given the strong working relationship between us. Our organizations have always had a very similar approach to serving the used vehicle industry as well as a great deal of synergy among our leadership – and our membership. When we closed the deal it was the culmination of more than two years of review, strategic discussions and due diligence. We are thrilled to be able to continue NABD's legacy under the NIADA banner and to create what we hope will be a seamless transition. This deal allows us to leverage best practices, industry data, technologies and operations we can build on together. Together is the key word. We can do more together than we can separately – and that's the biggest reason for doing this. NIADA and NABD are coming together to better represent, educate and serve our members and our industry. Shilson: NABD has had an excellent relationship with NIADA for several years and we have worked together to find solutions to various issues that have impacted independent used car dealers. We both provide dealer training and we have participated in each other's conferences. This allows us to put all that together under one unified organization – NIADA. We believe that benefits all parties – members, sponsors, staff and most of all the used car industry. Walters: Just like the used car business is continuously changing, NIADA and NABD must continually change – for the better. As I've always said, those who hate change will hate irrelevance even more. This is all about making a commitment to continuous improvement. Successful independent dealers of the future must do the same thing. Continuous improvement was once a luxury, but in 2018 and beyond it's a necessity. Will NABD continue to exist as a unique entity and brand? Will it still provide services such as its annual BHPH benchmarks? Jordan: Ken and Ingram have spent the past 20 or so years building a brand BHPH dealers are familiar and comfortable with, and we are happy to have that brand as a prominent part of the NIADA family. Ken and Ingram will continue to have a role as we assimilate the NABD brand. O n Dec. 14, NIADA acquired the assets and operations of the National Alliance of Buy Here-Pay Here Dealers and announced it will merge NABD's conference and educational services into those of NIADA. The deal brings together two of the used vehicle industry's largest and most influential entities, building on NIADA's already considerable presence in the BHPH space and creating added resources to meet the specialized training needs of BHPH dealers and support their complex business model. It will also bring together the NIADA Convention and Expo and the NABD National BHPH Conference to create a massive Mega-Conference that will encompass the entire used vehicle industry. So what does all this mean to you as an NIADA member and independent dealer? NIADA CEO Steve Jordan, NABD founder and president Ken Shilson and NABD co- founder Ingram Walters discuss the impact of the acquisition to dealers in a Q&A format. C O N T I N U E D O N PAG E 2 4

Articles in this issue

Links on this page

Archives of this issue

view archives of Used Car Dealer Magazine - FEB 2018