November 12, 2013
Need to Know
INDUSTRY NEWS IN THE LAST 24

borrego_dierdre22 J.D. Power Expert Highlights Marketing Sales Trends

The future isn’t nec­es­sar­ily about sales growth, accord­ing to Dier­dre Bor­rego, VP of U.S. Client Ser­vices, speak­ing at the J.D. Power Auto­mo­tive Mar­ket­ing Round­table in Las Vegas.

Find out more about the fun­da­men­tals that will be dri­ving strong vehi­cle demand. [More]


J.D. Power blog
honda_fcev222 Honda Puts FCEV on Floor of L.A. Auto Show

Honda Motors has released a sketch of the Honda FCEV Con­cept in advance of its debut at the 2013 Los Ange­les Auto Show sched­uled to begin on Novem­ber 20.

Find out more about Honda’s vision of advanced alter­na­tive fuels of the future. [More]


Reuters
rose-erica-450

FUEL: An Online Community of Dealer Learning

Stay in touch with 20 Group class­mates and share impor­tant learn­ing on NADA University’s new online social community.

VIDEO: Holidays, Goodwill, and Sales
onecommand-misty
  Creating Goodwill Through Community Outreach
 

The hol­i­day sea­son is upon us, and it’s time for deal­ers to plan their end-of-year strate­gies. Com­mu­nity out­reach pro­grams are often a good place to start.


Click here to read more
VIDEO: A Few Words from David Westcott
wescott-david-detroitpressassn
  NADA Chairman Speaks to Detroit Auto Press on CFPB
 

NADA Chair­man David West­cott deliv­ered a major speech to Detroit’s Auto­mo­tive Press Asso­ci­a­tion, dis­cussing the Con­sumer Finan­cial Pro­tec­tion Bureau (CFPB) and the essen­tial ser­vices pro­vided by fran­chised auto dealers.


Click here to read more




Dealer Pain Points
BY NADA UNIVERSITY

hire wire act The High Wire Act — In Parts

Run­ning a parts depart­ment is a lot like per­form­ing a high-wire act. A slip-up on the high wire can be deadly. Slip­ping up in parts will kill your profits.

You need bal­ance — enough of the right parts to meet demand while avoid­ing over­stock issues that can crimp cash flow.

Click to learn more.

top secret Are You the Best-Kept Secret in Town?

The aver­age con­sumer thinks deal­er­ship ser­vices cost more, and that’s usu­ally not true. You’re com­pet­i­tive in a vari­ety of ser­vices but there’s no reward for keep­ing it a secret.

Take steps to improve ser­vice sales.

Click here to learn more.

Hide and Seek Hide and Seek: A Costly Game

Hide and seek is fun when you’re a kid. But it’s no fun and a costly “game” when a part you need is not where it’s sup­posed to be and you’re wast­ing time (read money) look­ing for it. It’s a sign of a sys­tem breakdown.

You need to know how to main­tain inven­tory integrity.

Click here to learn more.

Doing It Right  
HOW-TOs BY INDUSTRY EXPERTS

NADA ACADEMY Accept­ing Appli­ca­tions for New Classes!

DCA: Jan 6 2014, Feb 10 2014
GDM: Jan 13 2014, Feb 17 2014
ATD Truck Dealer Acad­emy: Mar 3 2014

Spe­cial Ops train­ing pro­grams allow depart­ment man­agers to attend indi­vid­ual weeks of the Academy.

Hone skills spe­cific to your needs in:

• Finan­cial Man­age­ment
• Fixed Oper­a­tions 1 (Parts)
 Fixed Oper­a­tions 2 (Ser­vice)
 Vari­able Ops I – Dig­i­tal mar­ket­ing, inven­tory con­trol, show­room traf­fic pro­ce­dures, new– and used-car sales
• Vari­able Ops II – Pay plans; leas­ing; F&I; new– and used-car sales; hir­ing, devel­op­ing and retain­ing sales staff; expense con­trols; ROI

Go to nada.org/nadauniversity/academy to down­load sched­ules and appli­ca­tions for all pro­grams, or call 800.557.6232 for dates and availability.

Learn more about NADA 20 Group and upcom­ing Webi­nars!

 
Beyond Plug-Ins  
ALTERNATIVE VEHICLES

Plug-in vehi­cles may not be the option of choice as automak­ers strive to com­ply with fuel econ­omy reg­u­la­tions set to kick in dur­ing 2025, as more alter­na­tives arrive.

The Obama Admin­is­tra­tion tried to make EVs the favorite, but it may not hold up. [More]




Build a Better Dealership
SMART INSIGHTS FOR SMART DEALERS

bad-credit-scoreWhy Should You Care About Five Subprime Auto Loan Predictions?

Just as pay­day lend­ing evolved to bet­ter meet the needs of the under­banked, so will auto lend­ing change to meet the needs of non-prime customers.

That indus­try is large, it’s grow­ing, it’s incred­i­bly frag­mented, it’s inef­fi­cient, it’s lop­sided (the house mostly wins), and it’s one of the largest yet worst con­sumer finan­cial experiences.

New tech­nol­ogy, new busi­ness mod­els and new reg­u­la­tion rep­re­sent an enor­mous oppor­tu­nity for incum­bents and entre­pre­neur­ial thinkers to cre­ate a more effi­cient and more trans­par­ent marketplace.

Here’s what we could see in five years…

Smart Thinking - Pass It On  
WHAT YOU NEED TO KNOW ABOUT THE FMLA

The Sit­u­a­tion:

Not all employ­ers are cov­ered by the Fam­ily and Med­ical Leave Act. But deal­er­ships with 50 or more employ­ees – whether full or part-time – must com­ply with the FMLA. So that, if you have mul­ti­ple stores within a 75-mile radius, the law applies to all your rooftops if the total num­ber of employ­ees is 50 or more.

Are Your Employ­ees Cov­ered Under the FMLA?

Dou­glas Green­haus, NADA Legal and Reg­u­la­tory Affairs’ Chief Reg­u­la­tory Coun­sel for Envi­ron­ment, Health and Safety, shares infor­ma­tion on the Fam­ily Med­ical and Leave Act as it applies to deal­ers. Drill down fur­ther to get the details on your deal­er­ship and this impor­tant labor law.






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