AFC
Auto Focus
Showing 1–16 of 207 results
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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.
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3 ways to compete with online car sellers
Winter 2020
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 427
Abstract: Online car sellers like Carvana, TrueCar and CarsDirect have become major competitors of traditional brick-and-mortar dealerships. As a result, some dealerships are rethinking how they do business. This article offers three tips for competing successfully with online car sellers.
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Should you promote managers internally or hire from outside?
Winter 2020
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 570
Abstract: A dealership’s success hinges on hiring a strong general manager and strong department managers for new and used vehicle sales, parts and service, and F&I. There are two main approaches a dealer-owner can take when hiring managers: Bring them in from the outside or promote existing employees into management positions. This article weighs the pros and cons of each option.
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Dealership Management Systems – Shaping your own “Mission Control Center”
Winter 2020
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 868
Abstract: This article explores acquiring a new DMS, and offers guidance on where to start, what popular features are available and how to avoid overspending.
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How to get the most out of your financial statements
Winter 2020
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 865
Abstract: Improving financial performance is a top priority for dealership owners. CPA-prepared financial statements can help by identifying financial and operational deficiencies and discovering areas for cutting costs and generating sales. To reap these benefits, dealers must learn how to glean the information that will be most valuable. This article discusses how to examine the balance sheet, income statement, and statement of cash flows. A sidebar highlights common areas where dealerships may improperly report financial information.
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A car-free future? Not so fast
Fall 2019
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 365
Abstract: There’s a lot of talk among some younger Americans about living a car-free lifestyle, especially in urban areas. But new research indicates that there may be strong economic benefits to car ownership. This article asserts that a car-free future may not be as close as some people think.
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4 ways to control dealership expenses
Fall 2019
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 549
Abstract: It’s always a good idea to keep dealership expenses under control. But there are times when this becomes even more important. Many economists are predicting significant economic decline in 2020. This article offers four suggestions for cutting dealership expenses.
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Form 8300 reporting – Cash payments from customers call for special treatment
Fall 2019
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 676
Abstract: It’s not uncommon for dealerships to receive large sums of cash as payment for vehicles. And they are generally required to file a special form (Form 8300) with the IRS to report cash transactions of more than $10,000. This article reviews those requirements.
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Develop a formal business plan with sharp direction
Fall 2019
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 860
Abstract: Dealer-owners can detail the future direction of their dealership by drafting a formal, written business plan. This road map can help owners make operational and financial decisions that best position their business for future profitability. This article focuses on the content and structure of an auto dealership’s business plan. A sidebar offers solutions to the perceived “I-don’t-have-enough-time” problem.