Attending Used Car Week 2024 in Scottsdale, Arizona, after several years away felt nothing short of exhilarating. From the moment I stepped through the doors, it was like coming home in some ways. Whether reconnecting with old friends and colleagues, exploring cutting- edge innovations, or diving into learning sessions, one thing was clear: the energy was palpable, and 2024 is shaping up to be a promising year for automotive retail.
Here are my top four takeaways from this unforgettable event:
AI is no longer just a buzzword- it's becoming a cornerstone of the automotive industry, Whether you're an emerging player or a household name, everyone is doubling down on AI to create smarter, more efficient solutions for dealerships. From streamlining operations to enhancing customer experience, the conversion centered around how AI is transforming everything from inventory management to vehicle service recommendations.
The electric vehicle (EV) growth is on everyone’s radar, and innovation in this space is moving fast. Solutions around battery health diagnostics, targeted EV marketing strategies, and more precise appraisal tools are gearing up to meet the inevitable surge in EV market share. Everyone was focused on preparing for the day when EVs become the majority.
One of the most inspiring trends at Used Car Week was the spirit of partnership among solution providers. There’s a growing recognition that no single company can be everything to everyone. This cooperative mindset is paving the way for co-branded solutions that offer dealers unparalleled value. By pooling expertise, vendors are creating tools that are more powerful and comprehensive than ever before, giving dealers the resources they need to thrive in a competitive market.
When it comes to appraisals, knowing the market value is only half the battle. More dealers and auctions are recognizing the importance of understanding a vehicle's true health before committing to market-based pricing. Stories of costly mistakes—overlooked engine or transmission issues leading to bad buys—were shared time and again. Diagnostics tools are quickly becoming the critical link in helping dealers avoid hidden repair costs and make smarter purchasing decisions.
As I reflect on Used Car Week, it’s clear the automotive industry is brimming with optimism, collaboration, and innovation. From AI advancements to EV readiness, partnerships, and diagnostics, the foundation is set for a transformative year ahead.
I can’t wait to continue these conversations and connect with everyone again at NADA in January. Here’s to kicking off what promises to be a positive year in automotive retail!
