BLOG FOR SPECIAL FINANCE CAR DEALERS
NADA Expo In Orlando Should be a Great Show
We’re just about a week away from the 2010 NADA expo in Orlando. This year I’m looking forward to a great show. Last years show was ill attended by both car dealers and vendors. In fact, for the first time since we started exhibiting back in 2004, scores of exhibitors that just through in the towel and did not show up. The booth space they rented looked like a death scene from CSI, outlined with tape, but the physical evidence of their existence had been removed.
In addition to the thousands of car dealers that went out of business last year, it’s likely that a proportionate number of vendors that cater to the retail automotive business did the same. In the special finance lead, training, and software space for example, I could list a handful of companies that no longer exist or are sitting on the sidelines waiting for the storm to pass.
Although smaller, and shorter, this year’s show will be attended by stronger car dealerships and stronger vendors. Each should have a larger footprint in their respective space than they did just one year ago.
Another reason I’m optimistic about this years show is the recent interest in selling more cars utilizing subprime. Last year, subprime car sales was not a popular topic, most stores shelved their subprime departments due to lack of funding resources; the stores that did not, however, saw big gains in subprime car sales over the year.
Over the last year, there has also been a big shift in the number of people in the car buying public that are labeled subprime. Car dealers that are willing to roll up their sleeves, learn the subprime business, and cater to this growing segment of the market stand to win big, the formula is quite simple actually.
More Customers with Bad Credit ÷ Fewer Sub Prime Car Dealers = More Sales per Subprime Dealer
If you’re attending the show, and visit booth 2675, your likely to hear me, or one of my associates ask, “Can I help you sell more cars to people with bad credit”. This year, I’m anticipating a lot more car dealers say YES.