Dealer Insights
Showing 81–96 of 347 results
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Are you investing in leadership training?
September / October 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 434
Abstract: Leadership training and development is a success factor that many dealerships often overlook. This article spotlights two main approaches to leadership training and development in the auto dealership industry: internal, which involves mentoring young leaders in-house, and external, which centers on an investment in formal leadership training.
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“Blue skies smiling at me” – How goodwill factors into a sale or acquisition
September / October 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 680
Abstract: Like the sentiment in the 1926 Irving Berlin song “Blue Skies,” the accounting term “blue sky” — or “goodwill” — is a thing to be welcomed. And with mergers and acquisitions on the rise this year, it’s a good time for auto dealers to familiarize themselves with the terms. This article explains what goodwill and goodwill impairment mean, what GAAP requires and an alternative goodwill measurement method.
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Business options – Separate property ownership for possible advantage
September / October 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 572
Abstract: Many car dealers choose to separate ownership of the building and real estate from the dealership itself. Doing so has many advantages related to liability protection, tax savings and succession planning, which this article explains.
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How data analytics can help improve used car operations
September / October 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 809
Abstract: The term “artificial intelligence” or “AI” may conjure up sci-fi images of robots and futuristic machines. But many businesses today, including auto dealerships, are using AI to obtain more accurate data and help owners and managers make better decisions. This article discusses the advantages of using data analytics to help improve used car operations through far-better-informed pricing. A sidebar highlights data analytics and VIN numbers.
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Lease accounting standard – Get ready! Deadlines are fast approaching
July / August 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 453
Abstract: Deadlines for adopting the new lease accounting standard (ASU No. 2016-02) that was issued two years ago are quickly approaching. If a dealership is publicly held, it must adopt the new standard by December 15, 2018, if its fiscal year begins after this date. If a dealership is nonpublic, it has an extra year to adopt the new standard — until December 15, 2019, if its fiscal year begins after this date. This article spotlights the requirements and its possible impact.
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Hiring a CFO or controller
July / August 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 593
Abstract: When, and if, it seems time to add a financial executive — a CFO or controller — to a dealership’s staff, management will need to determine if the dealership can afford one and what that person might bring to the game. This article provides financial thresholds to consider when making the decision, and discusses CFO and controller responsibilities.
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Tax credit could prompt more paid family and medical leave
July / August 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 627
Abstract: The TCJA introduces a new tax credit for businesses that voluntarily offer paid family and medical leave to their employees ― a tax break that could make it more affordable for dealerships to provide this employee benefit to their workers. This article explains how to qualify for the credit and its potential financial value to a dealership.
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Insurance: Do you have adequate coverage?
July / August 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 843
Abstract: Auto dealerships are legally required to carry certain types of insurance to operate in most states. This article can help a dealership sort through the three main types of insurance for them: garage liability, physical damage and workers’ compensation. A sidebar on the co-insurance penalty provides some insight into that punitive measure.
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Shrinking employee turnover
May / June 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 429
Abstract: Dealerships have experienced some of the highest employee turnover rates of any industry. According to the National Automobile Dealers Association (NADA), the average tenure of dealership employees is only 2.4 years. For salespeople, however, this figure drops to a scant 18 months. This article highlights the results of poor retention and provides some tips for improving the problem, including investing in training and rethinking commission-driven pay plans.
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3 ways to strengthen your store’s overall performance
May / June 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 705
Abstract: Ask dealership owners whether they’d like to strengthen their business’s overall performance and you’ll likely get a resounding, “Yes, of course!” But not all factors that affect performance are under the dealer’s direct control. This article focuses on controllable goals that help bolster dealership performance: bolstering customer loyalty, boosting employee satisfaction and conducting business and strategic planning.
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Outside assistance – Which kind of financial statement will do?
May / June 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 613
Abstract: Depending on a dealership’s objectives, when it comes to financial statements its CPA can prepare a financial compilation, review its financial statements or perform an audit. Which route the organization chooses to take relies heavily on its reasons for having a CPA examine its financial statements in the first place. This article discusses three types of financial statement work: compilations, reviews and audits.
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Pass-through entities – Can you benefit from this new tax break?
May / June 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 759
Abstract: The Tax Cuts and Jobs Act, signed into law in December 2017, contains many provisions benefiting auto dealerships, including a valuable deduction for those structured as pass-through entities. This article explains this complex tax break. A sidebar provides the new, generally lower individual tax rates that apply to pass-through income.
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Online and on-site shopping – Integrate the two for the best customer experience
March / April 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 444
Abstract: Not surprisingly, most car buyers today begin their shopping experience online. They use the Internet to find vehicles listed for sale, research pricing, compare different models and locate a convenient dealership — which makes careful integration of dealerships’ online and on-site sales activities critical. This article highlights recent findings of a study on car buying. And it discusses how to seamlessly integrate online and on-site shopping and provide potential buyers with a variety of ways to interact with the dealership.
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Lower turnover via better hiring strategies
March / April 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 620
Abstract: Hiring and retaining high-quality employees is a crucial success factor for any business, including auto dealerships. Unfortunately, dealerships generally have a less than model track record when it comes to holding onto their employees. This article discusses ways to improve turnover via better hiring practices, including searching for qualified candidates in the right places and interviewing candidates wisely. The article also offers tips for building a separate dealership career website or microsite.
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Seeing F&I operations in a new light
March / April 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 584
Abstract: One of the keys to maximizing the profit potential of the F&I department — and boosting customer loyalty — is to look at the sales process anew. This article highlights the concept of “consulting” with customers instead of merely selling to them. It also examines best practices for presenting customers with product options.
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New tax law brings breaks for dealerships
March / April 2018
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 858
Abstract: There are consequential wins — and some losses — for auto dealerships and their owners in the Tax Cuts and Jobs Act. This article discusses lower tax rates, changes to some depreciation-related tax breaks and a new 20% qualified business income deduction for owners of pass-through businesses. A sidebar lists other tax law changes that will affect many dealerships, including a new tax credit and some breaks that have been reduced or eliminated.