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Auto Focus

Showing 1–16 of 211 results

  • 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.

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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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