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December 28, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Car Buyers: Now Is the Best Time of Year to Score a Deal
Improving Dealer Relations Tops Hyundai Exec’s To-Do List
Plan Now for a Changing Industry
IRS Extends Due Date for Employers and Providers to Issue Health Coverage Forms to Individuals in 2018
Dealership Managers/Directors: Talk to Your Boss about Attending the NADA Show
Top Stories
Car Buyers: Now Is the Best Time of Year to Score a Deal

Consumers hunting for a new car have a few things working in their favor this week: End-of-year sales targets, unsold 2017 models and aggressive discounts. The average dealer incentive was $4,302 as of mid-December, 2.7 percent above the previous record of $4,188 set in November, according to data from J.D. Power and LMC Automotive. In 17 of the last 18 months, incentives have averaged at least 10 percent of the manufacturer's suggested retail price, or MSRP.
Source: CNBC/USA TODAY

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Improving Dealer Relations Tops Hyundai Exec’s To-Do List

Dealerships and dealer relations are on the mind of Brian Smith, who became the chief operating officer at Hyundai Motor America in October. Smith, 58, is responsible for various aspects of Hyundai’s U.S. operations, including corporate and product strategic direction, sales, marketing, customer satisfaction and dealer development.
Source: WardsAuto

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Plan Now for a Changing Industry

Dealers who just a few months ago may have been reluctant to plan for the future could be shifting their perspectives now. When I asked some dealers about three months ago what they were doing to prepare for the future -- not two years from now but 15 or 20 -- many rattled off a typical list of initiatives, such as improving training, efficiency or online financing capabilities. The ideas were all good, but few addressed an industry on the brink of serious change.
Source: Automotive News

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IRS Extends Due Date for Employers and Providers to Issue Health Coverage Forms to Individuals in 2018

The IRS announced that it has extended the 2018 due date for certain entities to provide 2017 health coverage information forms to individuals. Insurers, self-insuring employers, other coverage providers, and applicable large employers now have until March 2, 2018, to provide Forms 1095-B or 1095-C to individuals, which is a 30-day extension from the original due date of Jan. 31. Insurers, self-insuring employers, other coverage providers, and applicable large employers must furnish statements to employees or covered individuals regarding the health care coverage offered to them. Individuals may use this information to determine whether, for each month of the calendar year, they may claim the premium tax credit on their individual income tax returns.
Source: IRS

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NADA Show News
Dealership Managers/Directors: Talk to Your Boss about Attending the NADA Show

The NADA Show (formerly the NADA Convention & Expo) is not just for dealer principals. That’s why NADA is encouraging dealership managers and directors to have frank discussions with their bosses, or vice versa, about attending the upcoming NADA Show.

Shirley Quinn, fixed operations manager at Laurel Toyota in Johnstown, Pa., has worked in the retail-auto industry for more than 40 years. She has attended the past nine conventions with her management team from the dealership group.

“Whether you are a seasoned manager or a new manager, my advice is to attend the NADA Show,” said Quinn. “The educational workshop topics are new year to year and based on the ever changing automotive world we live in.”

All dealership managers and directors -- in sales, marketing, e-commerce/internet, social media, CRM, BDC, CPO, fixed operations and finance and insurance -- are encouraged to take a close look at the workshop schedule.

NADA Show 2018 returns to Las Vegas from Thursday, March 22, to Sunday, March 25, offering 60 new workshops, which include the six traditional tracks, the new Distinguished Speaker Series, Super Session and Specialty Workshop. In all, there are 102 workshop sessions as well as the keynote speaker sessions, sold out Expo and numerous networking events.

"It’s team building for the managers who attend the NADA Show," Quinn added. "And we bring this information back to the dealership and share it with the other sales, service, parts and body shop managers from our stores. We benefit so much from it."

Dealership managers and directors can click here for a four-step guide on how to get approval from the boss to attend the NADA Show.

Click here to register and book your stay at a preferred hotel.
Source: NADA

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Quotable
"Automakers are really offering incentives to move all this metal. This is still a buyer's market because those incentives are so high."

    -- Kelsey Mays, senior consumer affairs editor at Cars.com, CNBC/USA TODAY, Dec. 27

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