Pub. 4 2023 Issue 1

Ally Financial Assurant Atlantic Union Bank Baker Tilly Virchow Krause, LLP Bank Of America — Merrill Lynch BDO USA, LLP BDO USA, LLP CarNow CBIZ Chase Dealer Services Core Assurance Councilor, Buchanan & Mitchell, PC COX Automotive Crovato BG Products & Services CVR Diamond Dealer Services D&R International — Annual Allied Dues Dominion DMS Ethos […]

One of the significant challenges of running any automotive dealership is moderating expenses. General managers and dealer principals are responsible for controlling many costs, including payroll, vehicle inventory, floorplan, and parts inventory. Monthly bills add up, and there is less revenue to put toward necessary resources. A major opportunity for expense control may be the

By now, many of us have seen a TikTok video filmed at someone’s workplace – a “day in the life” video, someone complaining about their coworkers, supervisors, or customers, or someone talking about an unrelated subject while at the office. And a relatively new platform, BeReal, goes a step further by encouraging users to provide

Watch this video to learn more about what Virginia dealers have to say about the franchise system. Read more at vada.com

The past two years have seen auto retailers adapt to limited vehicle inventory and pandemic restrictions while driving profits to new heights. Now dealers face rising interest rates — a critical concern for an industry that relies on capital to fund operations and growth. For some, it’s time for a balance sheet review and risk

In January, the Federal Trade Commission proposed a trade regulation rule that would prohibit employers from entering into, attempting to enter into, or maintaining non-compete clauses with their employees. The FTC based its action on a preliminarily finding that non-compete clauses constitute unfair methods of competition under Section 5 of the Federal Trade Commission Act,

The Impact of Fraud Fraud and identity theft continue to be huge problems for dealerships, auto lenders, and consumers. So, it’s no surprise that there are increasing regulations around consumer data security. With the expectation that this trend will continue, compliance must be top of mind for every dealership. Last year ended with a flurry

To register, go to vada.com/convention/.

For those of you who traveled to Dallas for this year’s National Automobile Dealers Association Convention, I hope you are reading this article from the comfort of your own home or office. It was a trek for some of our staff as flights out of Texas were delayed due to inclement weather, but we’re back

From franchise system protections and untaxed diagnostic labor to home solicitation rules and a study on loud exhaust systems, 2023 will go down as a history-making and successful year for Virginia dealers in the General Assembly. VADA entered 2023 with a groundbreaking bill to protect dealers and consumers against auto manufacturer-controlled sales processes. This “agency”

It came as a pleasant surprise when the headline from the Richmond Times-Dispatch landed in our inboxes and phone screens in early February: “First bill passes both General Assembly chambers.” We opened the link and discovered that, of the thousands of bills introduced in 2023, it was indeed the Virginia Automobile Dealers Association’s franchise-strengthening bill