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If you need employees, the Automotive Career Fair at the Denver Auto Show is the place to find them. Space is limited — and the deadline to register is tomorrow!
Time is running out to reserve your booth! Deadline is tomorrow, so if you want to meet qualified candidates, practically on your own turf, reserve a booth today!
Register now for the Colorado Dealer Breakfast!
Get your Preview Gala tickets
Order your original letter now!
Have you ordered your
$2 off Denver Auto Show coupon yet?
Get your customized coupon!
Register now for the Innovative Dealer Summit!
Dealer workforce study
NADA’s Dealership Workforce Study measures the strengths of the business and helps dealerships make informed decisions on pay plans, benefits and work schedules and more. Participating dealerships will receive two complimentary reports: Automotive Retail: National & Regional Trends in Compensation, Benefits & Retention and Compensation, Benefits and Retention: How Your Dealership Compares
 
The deadline to participate is April 30. 
 
To enroll, visit www.nadaworkforcestudy.com. For questions, call Dorenda Fisher at 703.556.8583 or email WorkforceStudy@nada.org.
Regulatory & Compliance
NADA Releases Guidance on Tax Reform Law
By Matthew Groves, VP Regulatory & Compliance

On Friday, NADA released a 28-page guidance that walks dealers through the most significant changes brought about by the Tax Cuts and Jobs Act of 2017. This document walks through both Individual and Business Tax Considerations for any dealer who needs assistance understanding how the law will impact their dealership. It may be accessed here.

As always if you have any questions, please send me an e-mail or call: 303.282.1449.
United States Imposes Tariffs on Imported Steel and Aluminum
By Matthew Groves, VP Regulatory & Compliance
 
Last week, President Trump announced that he would move to protect domestic supplies of aluminum and steel by placing a tariff on all imported goods, specifically targeting those resources coming from China. With the Chinese government subsidizing aluminum and steel production, the country has been able to undercut American companies on pricing for the U.S. manufacturing industries. The administration sought to rectify this situation by placing a 10% tariff on imported aluminum and a 25% tariff on imported steel.

While the move was designed to protect the American metals industry, it could be detrimental to U.S. manufacturers who heavily relies on imported metal. As Automotive News noted, the auto industry relies heavily upon aluminum from Canada. The major manufacturers in Detroit estimated that this would raise the price of new cars significantly. The stock market recognized this danger and reacted, with the Dow Jones Industrial Average dropping over 500 points on the speculation of the new tariff plan.

Responsive to the industry’s concern, and in the midst of attempting to renegotiate the North American Free Trade Agreement (NAFTA), the U.S. has granted an exemption on the new metal tariffs to Mexico and Canada on a temporary basis. This was envisioned to stabilize the U.S. manufacturing markets, while providing an incentive to partner nations to renegotiate a trade deal. At the same time, it has provided significant relief for the auto market, who can reliably source aluminum from Canada. This exemption also helped the stock market to recover from its initial shock.

It is unknown for how long this exemption will apply, but its impact will be critical for the automotive industry. We will keep you updated on any new developments.

As always if you have any questions, please send me an e-mail or call: 303.282.1449.
Automotive News
Tesla
Bloomberg’s Tesla Model 3 Tracker
Tesla suspended Model 3 output in February
Tesla’s production problems spawn a legion of Model 3 stalkers
Tesla raises prices at its Supercharger stations
Watch out Tesla: VW is making a $25 billion push into electric vehicles
VW just gave Tesla a $25 billion battery shock
Manufacturer news
GM said to plan Airbnb-like service for sharing vehicles
Aural authority: Jaguar’s I-Pace EV will generate fake engine sounds
Buick removes brand name from ’19 models
GM Exec calls for premium gas to be the new Regular
- -  CLICK BELOW FOR MORE AUTOMOTIVE NEWS  - -
Bonds & Forms
CADA has a fillable bond request form for new sales people! This new, fillable PDF form makes it easier, faster and more accurate for us to turn around your salesperson bond request. Because there’s no handwriting to decipher with this form, bond turnaround can be faster than ever. Just download the form, electronically fill it out and return to Khorrie Luther (khorrie.luther@colorado.auto). Questions? Call Khorrie: 303.457.5122.
Download the form
Contact Khorrie
More Events & Seminars
Sales Power Boost Seminar

Wednesday, May 16, 2018
OR
Thursday, May 17, 2018
Send half your sales team one day and half the other day!
8 – 5 p.m.
CADA Headquarters
 
Presented by the Sales Academy, these two, one-day workshops will give your dealership team a boost in sales and profitability in the shortest amount of time possible.
 
Based on The Academy’s Y.E.S. Customer Engagement Process, your experienced team will pick up fresh techniques for today’s internet-educated customer. The Power Boost is designed for dealerships that want new ideas and directions for big-sale weekends and strong close outs.
 
Today’s customer requires an updated skill set — and even mindset — that needs to be adopted by sales professionals and managers.
 
Course instruction includes
  • The Science of the Sale
  • Basics of appointment setting
  • Determining the customer state in the buying process
  • Up front objection handling to move forward
  • Determine the emotion for vehicle
  • Correct vehicle selection
  • Basics of vehicle presentation
  • Ask the customer to purchase
  • Presenting numbers
  • Price objections
  • Trade objections
  • Cash objections
  • Payment objections
  • Working with the customer
 
Who should attend
Any sales person on your team — rookie or veteran. The content will help a rookie become more capable of operating in today’s sales market. It will give a veteran a boost in dealing with today’s customer, by giving him or her improved or updated engagement skills.
 
Why you should attend
The Sales Academy teaches sales professionals how to meet customers at their point in the buying process, not make them start over. Your sales team will pick up fresh techniques for today’s internet-educated customers.
 
Price
$349/person
OR
$249 each for 5 people from your dealership
Send 3 people and your sales manager is FREE!
 
Register
e-mail: SeminarRSVP@colorado.auto
Phone: 303.831.1722
Mastery of Finance for Automobile Dealers:
A workshop that links finance to automobile dealership operations
 
Tuesday, June 19, 2018
8 a.m. – 5 p.m.
CADA Headquarters
 
Performance is measured on bottom-line results. Do your key decision makers know how to drive the bottom lines at an auto dealership?
 
Using a revolutionary and simple approach, learn to support your team’s management of sales, expenses and assets to improve profit, cash flow and return on capital.
 
In this one-day seminar, you’ll learn:
  • The three types of cash flow and which is most important to your daily operations
  • The relative profitability of the five lines of business at a dealership
  • How costs are allocated to dealership departments
  • How to distinguish cost of goods sold from operating expenses at a dealership
 
Topics covered include
Fundamentals of Finance
  • Key elements of business strategy
  • Structure and purpose of three financial statements
  • Distinguishing assets, liabilities and equity
  • Difference between cash and earnings
  • Three types of cash flow
  • Relationships of the three statements to each other and to dealership operations
  • Basic principles of finance
 
Financial Analysis and Decision Making
  • Analyzing auto dealer financial statements
  • Learning the three bottom lines — and how to improve them
  • Evaluating a dealer’s performance trends
  • Identifying crucial drivers and auto dealer KPIs
  • Managing working capital for dealerships
  • Making better strategic decisions
  • Applying financial knowledge to your job
  • Sources and uses of cash
 
Who should attend
This seminar is designed for non-financial professionals in every functional area of an auto dealer’s operations who need to:
  • Drive financial performance
  • Analyze strategic opportunities
  • Assess risk
  • Communicate financial priorities and results
 
Price
$400/first person
$350/additional person
 
Register
Online: CLICK HERE
e-mail: SeminarRSVP@colorado.auto
Did you miss the Military Lending Act webinar?

Good news! The webinar is available on demand from CADA, ready for you to attend at your own convenience! To get the webinar, click here.
ENDORSED PROVIDER / PROGRAMS

For information about any of the Endorsed Provider’s products or services, contact
Polly Penna polly.penna@colorado.auto 
303.457.5119 office  |  303.945.6426  mobile

Register now!
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