Dealer Insights
Showing 33–48 of 347 results
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Monitor these metrics to boost online profitability
September / October 2020
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 324
Abstract: Much of selling moved online during the COVID-19 crisis this spring for practically all retailers, including automobile dealerships. The percentage of vehicles sold online increased from less than 10% before the pandemic to 27% in April. This article highlights ways to boost profits in this environment, notably by increasing the profitability of online sales.
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Pandemic buying: Consumer trends to track
September / October 2020
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 638
Abstract: Several consumer automotive trends have emerged since the onset of the COVID-19 pandemic. They provide valuable insights into how consumers view the purchase and ownership of cars and trucks in the current environment. This article highlights three trends: car ownership becoming more comforting, customers expecting to find great deals, and buyers relying more heavily on digital dealership interactions.
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Controlling cash in a down economy
September / October 2020
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 681
Abstract: The COVID-19 pandemic has created an economic downturn of a severity seldom experienced in our nation. Many businesses, including dealerships, have turned to government and business loans to help keep them up and running. But there may be other sources of cash, right in the dealership, that should also be explored. This article looks at three of these cash sources: salaries, inventory and receivables.
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The “new normal” – How to succeed in the shadow of COVID-19
September / October 2020
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 822
Abstract: COVID-19 has resulted in new ways of doing business. Practically everything from the way buyers shop for vehicles and perform test drives to how paperwork is handled has changed due to the pandemic. This article discusses changes that may be here to stay, such as increased online sales, bumped-up use of digital tools, and limited employee and customer in-store contact. A sidebar spotlights supply chain disruptions.
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Guard vehicle inventory against damage and theft
July / August 2020
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 322
Abstract: Most dealerships keep millions of dollars of vehicle inventory on their open-air lots. However, cars and trucks are susceptible to many kinds of damage, such as storm damage, sun fading, scratches and dings during test drives and vandalism, as well as possible theft. This article offers a strategy for limiting the risks.
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How can KPIs help boost your bottom line?
July / August 2020
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 621
Abstract: Key performance indicators (KPIs) are concrete measurements of your dealership’s financial performance that can be used to gauge progress toward goals. In the wake of the novel coronavirus (COVID-19) crisis, keeping accurate relevant metrics on aspects of a dealership’s performance is more important than ever. This article walks readers through customizing their metrics and discusses some of the best ways to communicate them at dealerships.
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California consumer privacy law could affect your dealership
July / August 2020
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 673
Abstract: A new consumer privacy law is in place that could impact businesses across the nation, including auto dealerships. The title of the legislation — the California Consumer Privacy Act (CCPA) — is somewhat deceptive because businesses don’t have to be in the Golden State to be affected. This article covers why business location is irrelevant and how consumer rights are protected. Exemptions in the law also are discussed.
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CARES Act tax provisions dealers should know about
July / August 2020
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 845
Abstract: The CARES Act, signed into law in late March, contains several tax provisions that can still help auto dealerships that have been adversely affected by the COVID-19 crisis. This article discusses the payroll tax credit and deferral of payments, changes to NOL rules, and the increase in the business interest deduction limit. A sidebar explains how the act fixed a tax reform drafting error that involved QIP.
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Could longer loan terms affect vehicle sales?
May / June 2020
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 303
Abstract: The average price of a new car hit $38,377 at the end of 2019, which was up about 1% from a year earlier, according to Edmunds. To make monthly payments on new cars more affordable, some buyers are taking on longer loan terms, with the average loan term for a new vehicle now at 69 months. This article explores how longer loan terms may, or may not, affect car and truck sales.
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Expense management – Boost profits by cutting expenses
May / June 2020
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 679
Abstract: Many dealerships focus on selling more to boost profitability. But sales volume alone doesn’t necessarily raise profits. In fact, pushing more sales through a bloated expense structure can result in lower net profits for a dealership. That’s why it’s important to look at the other side of the ledger — expenses — as you strive to increase your dealership’s profits. This article examines four broad expense categories and offers cost-cutting strategies.
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Protecting your store from the “inside job” – Strong internal controls will help deter fraud
May / June 2020
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 616
Abstract: One of the best ways to mitigate employee fraud and embezzlement at a dealership is to implement a system of strong internal controls. This article spells out must-have controls that every store should have in place, plus other effective control measures.
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How the SECURE Act will impact retirement planning
May / June 2020
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 859
Abstract: A new law took effect on January 1 that ushers in some of the most sweeping changes to employer-sponsored retirement plans in decades. The Setting Every Community Up for Retirement Enhancement (SECURE) Act is designed to make it easier for many businesses, including dealerships, to offer a retirement plan to employees — and for employees to save money for a financially secure retirement. This article covers the act’s main provisions geared toward employers and employees. A sidebar covers legislation eliminating stretch IRAs.
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Floor plan lending – The importance of remaining in trust
March / April 2020
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 348
Abstract: Remaining in good standing with floor plan lenders is critical to financial success for most dealerships. This article discusses how lenders monitor trust compliance in varied ways.
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How large should your sales staff be?
March / April 2020
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 600
Abstract: Based on current and projected sales in a dealership’s part of the country, how does a dealer know the ideal size for its sales staff? This article describes steps a dealer can take, including considering monthly gross profits, to determine a store’s optimal sales staff level.
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Prepare your dealership for a disaster
March / April 2020
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 691
Abstract: Your disaster recovery plan should account for how your dealership will respond to a wide range of both natural and manmade disasters. This article discusses cornerstones of a plan, such as how you’ll reopen quickly, stay financially viable and assess your insurance coverage.
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3 ways to boost fixed operations’ profits
March / April 2020
Newsletter: Dealer Insights
Price: $225.00, Subscriber Price: $157.50
Word count: 827
Abstract: New vehicle sales reportedly generate 26% of a dealership’s gross profit and used vehicle sales generate 25% of gross profit. Parts and service generate 49% of gross profit! In other words, parts and service (commonly referred to as “fixed operations”) generally account for about the same percentage of a dealership’s gross profit as new and used vehicle sales combined. This article suggests three ways to boost profits in your fixed operations. A sidebar, “Focus on KPIs,” offers several KPIs related to the service department, along with some useful industry benchmarks.