- This article discusses the real meaning of transparency and whether the one-price model in auto retailing is a better way to sell vehicles than the traditional sales model of negotiating the vehicle price with customers. The pros and cons of each approach are explored.
- One job that should be at the top of a dealership’s year end priority list is conducting a recap of 2014 financial performance with their accountant. The review will provide a comprehensive snapshot of the dealership’s financial position toward the end of the year. It also will lay the groundwork for the 2015 financial forecast and budget. This article discusses some of the financial ratios that demand especially close attention, including gross and net profit margins, fixed costs, inventory turnover and current ratio.
- When you don’t properly secure your IT infrastructure, risk is sure to follow.
- The Society of Actuaries recently released new mortality tables for use by plan sponsors when measuring benefit plan costs and obligations. The new tables, RP-2014 (mortality tables) and MP-2014 (longevity improvement scale), will most likely result in higher defined benefit obligations in benefit plans.
- This article looks at three strategic tax moves dealers might want to make before the end of the year: timing income and expenses, planning inventory carefully, and reviewing repair and maintenance expenses in light of recent IRS regulations. It also lists three main tasks a salesperson should accomplish during the critical first hour they work with a customer.
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