AFC
Auto Focus
Showing 1–16 of 215 results
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How to account for forgivable PPP loans
Winter 2021
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 423
Abstract: Since the PPP was rolled out as part of the CARES Act last spring, more than 5 million businesses, including some auto dealerships, have taken out PPP loans. These funds have helped businesses weather the negative impact of the COVID-19 pandemic. This article addresses some of the questions about the accounting treatment of forgivable PPP loans.
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Succession planning – Does your dealership have a buy-sell agreement?
Winter 2021
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 588
Abstract: A buy-sell agreement is a legal document that details succession plans if an owner is no longer capable of leading the business. A properly drafted agreement lays out the terms and conditions under which other owners or the business itself may purchase an owner’s interest in the event of his or her death or disability. This article explains reasons to have an agreement and how to fund it.
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“Secrets” of the balance sheet – Use the document to reveal your dealership’s true financial health
Winter 2021
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 691
Abstract: Information on an auto dealership’s balance sheet can provide insight into the business’s overall financial picture. Among other things, management can use the balance sheet to determine its return on equity, debt-service and current ratios. It also can help spot unsubstantiated estimates, underreported expenses and even fraud. This article spotlights using the balance sheet to help monitor AR, manage inventory, and evaluate sources and uses of cash. A sidebar explains how rounded numbers on a balance sheet can be a red flag.
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3 ways DMS can help you work smarter
Winter 2021
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 815
Abstract: The DMS is the backbone of an auto dealership’s operations. This article serves up three ways a dealership can use DMS features to improve its efficiency, customer service and bottom line. It discusses how to maximize CRM benefits, use text and emails more efficiently and take advantage of lesser-used DMS modules. A sidebar discusses getting the most out of the DOC reports generated by the DMS.
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Monitor these metrics to boost online profitability
Fall 2020
Newsletter: Auto Focus
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
Fall 2020
Newsletter: Auto Focus
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
Fall 2020
Newsletter: Auto Focus
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
Fall 2020
Newsletter: Auto Focus
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
Summer 2020
Newsletter: Auto Focus
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?
Summer 2020
Newsletter: Auto Focus
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
Summer 2020
Newsletter: Auto Focus
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
Summer 2020
Newsletter: Auto Focus
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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Floor plan lending – The importance of remaining in trust
Spring 2020
Newsletter: Auto Focus
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?
Spring 2020
Newsletter: Auto Focus
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
Spring 2020
Newsletter: Auto Focus
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
Spring 2020
Newsletter: Auto Focus
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.