Auto Dealers
Showing 481–496 of 578 results
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Rev up sales – Don’t let the momentum from Clunkers stall
Spring 2010
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 892
Abstract: Cash for Clunkers attracted a lot of attention last year. But, before the publicity completely fades away, there are ways to bring shoppers in the door — and persuade them to buy. This article describes several such techniques. At the same time, dealers will need to balance their inventory needs with their manufacturer’s flexibility — and, if layoffs are necessary, they should be based on performance, not tenure or emotion. A sidebar explains how recent inventory cuts could increase taxes if appropriate steps aren’t taken.
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Benchmarking – How does your dealership rate?
Spring 2010
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 475
Abstract: In today’s volatile marketplace, it’s harder to get credit and easier to get a franchise taken away. Franchisers and lenders are paying close attention to financial performance — and many have raised the bar on what’s acceptable. But dealers who benchmark their performance against industry standards know their competitive strengths and weaknesses. In turn, they can ask others for best practice advice to turn around weak areas.
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Win-win trade-ins – A solid appraisal process satisfies all
Spring 2010
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 810
Abstract: Happy car-buying customers are repeat customers, but not all car-buying customers are happy ones. What can make a difference in customer satisfaction is how a dealership appraises cars. This includes formalizing the appraisal process; reconciling data from a variety of public sources; keeping a computerized log of all used car appraisals and cross-referencing the list to avoid contradictory appraisals; and choosing cost-effective and user-friendly appraisal software.
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Dealer Digest
March / April 2010
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 464
Abstract: This issue’s “Dealer Digest” spotlights a recent Grant Thornton survey indicating executive concern over the cost of employee benefits; how to use social media to build relationships with customers; and a J.D. Power survey showing increasing use of the Internet for vehicle shopping.
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Accent on foreign accounts
March / April 2010
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 615
Abstract: The IRS is offering guidance on how to fill out its annual “Report of Foreign Bank and Financial Accounts,” commonly known as FBAR, as it gears up for 2009 returns. Investigators use FBARs to help identify, or trace, funds used for illicit purposes — or to identify unreported income kept or generated abroad. Teaming up with the U.S. Department of Justice, the agencies say they’re prepared to assess civil and criminal penalties for violations. This article discusses who must file, and when.
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AR management – Step up to the plate
March / April 2010
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 756
Abstract: Strong accounts receivable (AR) management can help dealerships hit home runs — and stay in the game. There are a variety of collection techniques dealers can use for vehicle accounts receivable, parts and service receivables, contracts in transit, factory receivables, and warranty claims.
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Dealership financing – It’s hard, but not impossible, to uncover
March / April 2010
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 1010
Abstract: The auto industry may show signs of recovery, but financing isn’t expected to return to normal anytime soon. And funding a floor plan, other operations and future capital expenditures is likely to remain a challenge. But there are steps dealers can take to convince lenders they’re a worthy risk. It’s important for a dealership to sit down with their accountant and develop a presentation that will help convince the lender of their creditworthiness. If the primary lender is unmoved, there are four additional sources of funding that might be available. A sidebar to this article lists eight questions to ask a lender about loan terms.
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Dealer Digest
January / February 2010
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 463
Abstract: This issue’s “Dealer Digest” warns against sending text messages in violation of federal rules; discusses a new AIAG guideline for the electronic reporting of vehicle delivery; and shows why some will find it easier to convert from a traditional IRA to a Roth IRA in 2010.
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Prep time given – IRS suspends the examination of accounting for certain inventory costs
January / February 2010
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 918
Abstract: After years of many auto dealerships accounting for the costs associated with their inventories in ways the IRS considered improper, the agency has issued new instructions to its examiners on how to assess dealership compliance with Internal Revenue Code (IRC) Section 263A. In light of the accounting changes dealers may need to make to comply, the IRS has suspended examination on Sec. 263A issues during audits until Jan. 1, 2011. But this does not apply to examinations begun before Sept. 15, 2009.
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Meeting FLSA overtime requirements – 7 factors to keep in mind
January / February 2010
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 728
Abstract: While making decisions about overtime, it’s important that dealerships comply with the Fair Labor Standards Act (FLSA). There are seven factors to keep in mind, involving such considerations as salary thresholds and the different employee categories. A sidebar to this article lists several overtime errors that employers commonly make.
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Keeping up with online leads
January / February 2010
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 733
Abstract: One aspect of the industry that’s moving forward at a rapid pace is the purchase of online leads. Dealerships are in something of an experimental stage right now as the pay-per-lead model of purchasing gains momentum. At the same time, third-party lead providers are stepping up the competition. And customers are more vigorously exploring their online options. Typically, Internet leads have been sold via a subscription model, in which Internet lead providers sell leads in bulk. But visitors to Kelley Blue Book’s new site are able to select search criteria and get “best match” results.
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Getting cash to flow
Winter 2010
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 715
Abstract: With sales still lackluster at many stores, having enough cash on hand to meet obligations remains a management challenge. The first step in strong cash-flow management is maintaining an organized system for cash accounts. It’s also important to maintain a tight collection policy and to properly account for inventory.
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Good reasons for clean cutoffs
Winter 2010
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 584
Abstract: When a sale occurs near the fiscal year end, precisely when should a dealer record it? For a sale in which the dealer had completed most of the legwork and crunched the numbers just before the cutoff date — but with the dotted line being signed after that date — it might seem logical to record it at the earlier date. And the factory would likely back this decision, because it bolsters the manufacturer’s year end unit sales. But dealers shouldn’t count their chickens before they hatch; it can cause problems with lenders and other stakeholders, who might claim that the dealer is exaggerating financial results.
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Ready, set, get audited – How your audit can be easier next time
Winter 2010
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 994
Abstract: With a bit of advance planning, a visit by an external audit team can be brief and predictable. Plus, many offer business improvement and tax-savings tips that could actually make a dealer’s life easier. This article discusses how to prepare for a visit, and how to benefit from ideas the auditor may have gathered throughout the audit process to help improve operations and build value. A sidebar discusses the choices dealers have when accounting for new vehicle inventory.
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IRS to step up UNICAP enforcement – Dealerships have until Jan. 1, 2011, to comply
Winter 2010
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 670
Abstract: Virtually all automobile dealerships report their inventories improperly, according to the IRS. A Taxpayer Advice Memorandum, TAM 200736026, suggests that most dealerships incorrectly apply Internal Revenue Code Section 263A to calculation of their inventories. Sec. 263A addresses the uniform capitalization of direct and indirect inventory costs. Currently, most dealers deduct these expenses each year by using the simplified retail method, rather than including them as part of their inventories. The agency has recently laid the groundwork to begin serious testing for noncompliance starting next January, and the revised rules affect all but the smallest dealers.
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Dealer Digest – Cash-for-clunkers lessons
November / December 2009
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 421
Abstract: This issue, “Dealer Digest” notes that it’s wise to apply lessons from the “cash-for clunkers” program to retail efforts in 2010. The Digest also discusses the compliance date extension for the FTC’s “red flags” rule, which requires creditors to have a documented compliance strategy to detect identity theft.