Dealer Insights
Showing 113–128 of 347 results
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Could your dealership benefit from an advisory board?
May / June 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 334
Abstract: There are multiple reasons why a dealership should consider creating an advisory board — a group consisting of professional confidants willing to offer their time and talents to help owners meet specific business challenges. This article explores whom a dealer owner should invite to serve on its board and the nature of meetings to be held.
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Help wanted: Skilled service technicians
May / June 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 656
Abstract: If an auto mechanic working in the 1970s or 1980s were suddenly transported in time to 2017, he or she would likely be baffled by the complex technology under the hood of today’s vehicles. This article examines the changing qualifications of service technicians, and how some auto dealerships are taking steps to find these highly skilled employees. Recruiting suggestions are included.
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Spotlighting performance – How KPIs can keep your store on track
May / June 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 595
Abstract: Every dealership owner wants to know how his or her store is doing each month of the year — if not each day of the year. An objective and effective way to measure operational performance is by establishing key performance indicators and following them closely. This article discusses designing financial dashboards, involving the management team and measuring performance against peers.
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Cost management – Boost profits by shrinking expenses
May / June 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 853
Abstract: Cutting and controlling costs is as consequential to boosting profits as increasing sales — if not more so. Thus, expense management should be a high priority for a dealership’s managers. This article looks at areas that may be prime targets for expense shrinking, including centralized purchasing, payroll and benefits, advertising, and floor plan interest. A sidebar focuses on how to avoid floor planning mistakes.
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4 questions you should ask your CPA
March / April 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 299
Abstract: Many dealership owners view their external accountant simply as the “number-cruncher” who reviews or compiles financial statements and prepares tax returns. But this article discusses how a CPA also can help sort out other financial issues at a dealership and provides four examples of good questions to ask.
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Why strategic planning is crucial for your dealership
March / April 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 692
Abstract: Many dealership owners get so bogged down in day-to-day management responsibilities that they never take the time to step back and perform big-picture, or strategic, planning. This article suggests areas of focus in the strategic planning process, including the competitive environment, growth and expansion, and business succession. It also discusses the merits of performing a “SWOT” analysis to help identify the dealership’s Strengths, Weaknesses, Opportunities and Threats.
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Divide and conquer – Separate real estate entities can be advantageous
March / April 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 642
Abstract: If a dealership owns its operating facility and the land it’s on, it might literally be sitting on unnecessary risks. Separating the dealership business and real estate can help protect an owner from an assortment of liabilities. This article explains the benefits of having separate real estate entities and the process of making it happen.
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Fuel economy debate – Will CAFE standards be upheld — or changed?
March / April 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 856
Abstract: The EPA and the NHTSA are in the midst of a year-long review to determine whether or not changes should be made to the CAFE standards. This article discusses the current requirements and the debate between the industry and regulators on whether they should be softened. A sidebar highlights the Trump administration’s known stance on fuel economy and emissions standards.
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Vehicle quality is rising — and you can benefit
January / February 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 436
Abstract: The J.D. Power 2016 U.S. Initial Quality StudySM includes some good news for the automobile industry. According to the study, new vehicle quality has improved by 6%, which doubles the 3% improvement rate reported in 2015. This was the largest uptrend in new vehicle quality since 2009. This article discusses how quality is gauged — and how this trend toward better quality can generate more sales and repeat business.
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A ransomware cyberattack could hit your dealership
January / February 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 565
Abstract: A new type of cyberattack called ransomware is costing businesses millions of dollars a year. Hackers infiltrate computers by getting users to open email messages and download attachments that contain malware. This allows the hackers to encrypt everything on a computer and keep it locked until the user pays a high ransom. This article explains how ransomware attacks work and how a dealership can be protected against them.
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8 tips for containing unemployment taxes
January / February 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 642
Abstract: Soaring numbers of unemployment claims during the last recession exhausted unemployment trusts in many states and forced them to borrow federal funds to compensate unemployed workers. To produce more revenue to meet their loan obligations, some states raised their unemployment tax rates, and dealerships have felt the bite. This article offers several best practices dealerships can follow to keep the lid on employment taxes.
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Could your dealership benefit from sustainability reporting?
January / February 2017
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 826
Abstract: With a growing focus on the environmental impact of their everyday activities, businesses in a wide range of industries are adopting the practice of sustainability reporting. This includes automobile dealerships, which can potentially leave a heavy environmental footprint. This article explains the basics of sustainability reporting and its benefits, and discusses the importance of a uniform structure in this reporting. A sidebar looks at a GM program to recognize green dealerships.
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Guard your margins to boost vehicle profits
November / December 2016
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 340
Abstract: Although dealership profits have hit all-time highs in recent years, the average dealership net profit margin has remained flat for the past five years at just 2.2%. This article examines one of the biggest challenges faced by many dealerships today — the transparency of vehicle pricing — and offers some quick suggestions for continuing to think profitably.
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The pros and cons of using LIFO accounting
November / December 2016
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 717
Abstract: One of the most effective ways for a dealership to lower its income taxes is to adopt LIFO accounting. This article discusses the accounting and income tax filing advantages of using the LIFO method, as well as its other benefits. The article also pinpoints factors to consider when deciding between LIFO and FIFO and provides some details to keep in mind when using LIFO accounting, to prevent it from becoming a negative.
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Management assessment – 360-degree reviews reveal the big picture
November / December 2016
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 643
Abstract: Dealerships should consider using a “360-degree review” once a year when evaluating their managers to get a better perspective of their performance. This article explains the crafting of a feedback survey, linking management goals to a dealership’s financial outcomes, and realizing the importance of guaranteed confidentiality throughout the process.
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Could your dealership benefit from captive insurance?
November / December 2016
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 815
Abstract: To meet the challenge of rising health insurance costs, some dealerships are opting for a creative alternative to traditional health insurance known as “captive insurance.” A captive insurance company is wholly owned and controlled by the dealership, its owner, a family member or a trust. This article looks at the benefits of captive insurance and the tax impact on a dealership. A sidebar discusses how PATH Act legislation affects microcaptives.