Driving Virginia’s Economy
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OFFICIAL PUBLICATION OF THE VIRGINIA AUTOMOBILE DEALERS ASSOCIATION
Pub. 5 2024 Issue 2
Thank You VADA Allied Members
Accumatic Inc.Ally FinancialAssurantAtlantic Union BankBank Of America — Merrill LynchBDO USA LLPBlue Whale EVBrightline Dealer AdvisorsBrown, Edwards & Co.CarNowCBIZChase Dealer ServicesComputerized Vehicle RegistrationCore 22 Design BuildCore AssuranceCouncilor, Buchanan & Mitchell, PCCrovato BG Products & ServicesDiamond Dealer ServicesDominion DMSDSMADynatron SoftwareEthos GroupForvisFoti, Flynn, Lowen & Co.Fulton Bank GM FinancialGreensboro Auto AuctionHaig PartnersHikoJM&A GroupKerrigan AdvisorsKPAM&T BankMahdavi, Bacon, Halfhill
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Legal Updates
The Federal government was very busy this spring, issuing a flurry of laws that affect dealerships and dealership personnel. Among them: The increased threshold salary of employees who are exempt from overtime because of the administrative, executive, professional exemption and the qualifications for that exemption. Dealers must provide reasonable accommodations for a worker’s known limitations
Structure Reinsurance To Get the Most From Your Warranty Programs
Tailwinds in the auto retailing business continue to provide resources for dealers to build out programs that strengthen their business model and deliver more value to customers. Properly structured and managed finance and insurance (F&I) reinsurance programs are an example of programs that can deliver a steady boost to dealer financial performance. While dealers need
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Climbing the Automotive Industry Ladder of Success
In the auto industry, there is a gap between the number of women in leadership and those who buy cars. Maintaining that discrepancy is risky because it shows a lack of innovation when serving the market. Interestingly, women buy 62% of all vehicles today. Even if they don’t purchase directly, they influence 85% of car-buying
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California Standards and EVs in Virginia
On June 5, 2024, Gov. Youngkin announced the end of the California electric vehicle mandate in Virginia, effective at the end of 2024 when California’s current regulations expire. An official opinion from Attorney General Jason Miyares, in response to a request by Gov. and Senate Republican Leader Ryan McDougle, confirmed that Virginia is not required
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6 Virginia Dealers Among Top in U.S.
Not one, not two, but six Virginia dealers made the cut for this year’s Top 150 Dealership Groups. Recently released by Automotive News, the prestigious list ranks the largest auto retail groups by sales of new vehicles. All told, the top dealers sold nearly 3.8 million new vehicles last year. Who made the list for
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A Message From President and CEO Don Hall – Why Transparency Is the Name of the Game
Recently, a close friend shared a car-buying experience that was, unfortunately, something we still occasionally hear about in the state and our industry. After negotiating with the dealer for nearly two weeks and settling on a price, he returned to the lot to close the deal — only to be met with nearly $10,000 in
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