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The Innovative Dealer Summit starts today!
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Top speakers! Several tracks, including Digital Marketing, Leadership/Management, Fixed Ops, Retail & Sales, Human Resources/Hiring and Legal/Regulatory
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If you still want to go, one-day passes are available. Contact Arnold Tijerina: 951.490.8000 or visit InnovativeDealerSummit.com
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The premier event of the Denver Auto Show, the Preview Gala gives you an exclusive peek at the newest car, truck and SUV models on the showroom floor, all against an elegant background of lavish appetizers and cocktails, entertainment and even a few gaming stations.
The Preview Gala is a celebration of Colorado’s new-car franchised dealerships, where you have the space to meet up with your peers from other dealerships — and stroll among the most technologically advanced and, let’s face it, sexy new vehicles on the market today.
What’s more, your being there will help some auto tech students with their tuition through a Clear the Air Foundation scholarship!
Just one week from today, join us for the 10th Annual Preview Gala!
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Free Denver Auto Show pass for your staff!
Details below:
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Have you ordered your
$2 off Denver Auto Show coupon yet?
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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.
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Regulatory and Legal Updates
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U.S. Supreme Court issues decision exempting service advisors from overtime
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Earlier yesterday morning, the U.S. Supreme Court of the United States issued its opinion for the second time in the case of Navarro v. Encino Motorcars. The 9th Circuit Court of Appeals had previously upheld the Department of Labor’s reinterpretation of the Fair Labor Standards Act (FLSA). This held that dealers must pay overtime for any amount over 40 hours in one week.
Last year, the U.S. Supreme Court sent the case back to the 9th Circuit for a re-hearing to explain their legal theory, to which the 9th Circuit again found that service advisors must be paid overtime under a separate legal theory.
Yesterday’s 5-4 decision, reversing the 9th Circuit for a second time, brings finality to the issue of service advisors and overtime pay. This issue has been in the judicial system for more than three years and received seven hearings through various appeals.
Service advisors are now interpreted as falling under the “salesperson exemption” of the Fair Labor Standards Act, and therefore are not subject to overtime pay mandates under the FLSA. In his majority opinion, Justice Clarence Thomas writes “[A] service advisor is obviously a salesman.” This opinion will provide dealerships with the clarity necessary to settle pending disputes.
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EPA revises CAFE standards
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Yesterday afternoon, Environmental Protection Agency Administrator Scott Pruitt announced that the emission limits for model years 2022-2025 were ‘not the right decision’ for the automotive industry, and that the EPA would work with the National Highway Traffic and Safety Administration to propose new emissions standards and deadlines for those standards. Pruitt also denounced the Obama administration’s ‘midterm review’ of late 2017 as “politically charged” and “inappropriate.”
California promptly responded with allegations that the EPA is setting back the movement toward cleaner energy and lower emissions and is indicating a lawsuit may be pending. Speculation around Washington is that the EPA is considering revoking California’s waiver to the emissions standards, commonly known as the California Low Emissions Vehicle standard, or “CAL LEV.” We will keep you updated on this evolving story.
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GET YOUR PERMITS FOR THE DENVER AUTO SHOW TODAY!
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This is a reminder to all member dealers sending sales persons to the Denver Auto Show that an off-premise permit must be obtained BEFORE the show open on April 4th, 2018. Under the regulation (1 CCR 205-1 at Regulation 12-6-102(16)):
- “[i]n order to sell motor vehicles at a location away from the dealership, a motor vehicle dealer must apply for the appropriate off-premise permit.”
There are two types of permits available for off-premise sales. A Class One permit prohibits the execution of sales-related documents (contracts, purchase agreements, etc.) off-site. Those documents would need to be completed at the dealership at a later date. A Class Two permit would allow for the execution of documents at the Denver Convention Center. Please choose your permit accordingly when submitting Form 2043 and the appropriate fee.
As in prior years, the Division will not issue a permit at the event; you must have Form DR 2043 and the proper fees submitted ahead of time to the Auto Industry Division, 1881 Pierce Street, Suite 112, Lakewood, CO, 80214. Note that while a DR 2034 has always been required, the form has been updated for this year. You can find this form here. Please note, nothing in this permit allows Sunday sales, even if a Sunday falls within the allowable dates of the permit.
For purposes of the Denver Auto Show, a permit is allowed for up to 20 calendar days. However, this permit must be available for inspection on the grounds of the auto show, not at a dealership, for the duration of the exhibit.
Every salesperson participating in the dealer’s exhibit must have acquired their salesperson license fourteen days prior to the show. This is a good time to review all salesperson licenses hanging in your store to ensure licenses are currently valid.
If you have any questions, please contact:
Tim Jackson
Direct: 303.282.1448
tim.jackson@colorado.auto
Matthew Groves
Direct: 303.282.1449
matthew.groves@colorado.auto
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Musk’s April Fool’s tweets backfire
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- - CLICK BELOW FOR MORE AUTOMOTIVE NEWS - -
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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.
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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 |
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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
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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.
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Thank you to our 2017
Charity Preview Party Sponsors
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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
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Copyright © 2018 CADA, All rights reserved.
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