Before we start exploring the reasons why every car dealer must conduct an on-site compliance audit in his car dealership, let us form an overview of its fundamental concept and notches of significance. There are federal guidelines that govern each department of a car dealership; for example, there is a Used Car Rule for the sales department and CAN-SPAM Act for the BDC … [Read more...] about Why Conduct an On-site Compliance Audit in Your Car Dealership?
No matter the size of your car dealership, it is in your best interest as a dealership owner to put tools in place that protect the reputation of your organization. With each new car dealership employing an estimated 70 people on average in 2019, the best place to start is within your company. Implementing a comprehensive compliance program that consists of regular audits, … [Read more...] about Importance of Whistleblower Hotline as Part of Dealership Comprehensive Compliance Program
As the saying goes, “you are the company you keep,” so it’s imperative to hire great people and retain them to create a solid company culture and manage your dealership’s positive reputation. Investing in professional development and training remains essential, especially as the car-shopping landscape changes and compliance issues continue to plague dealers. In addition, … [Read more...] about Professional Development Is More Important Than Ever for Dealership Staff
Auto dealerships that are not compliant feel the impact directly in terms of their loss of profits and reputation. Without a comprehensive compliance training program, car dealers’ bottom lines are affected. Studies show that more than 73% of consumers prefer dealing with dealership staff that has completed compliance training and has certificates of completion on … [Read more...] about 3 Steps to Comprehensive Compliance Training
In order to improve your dealership’s bottom line and remain relevant in the digital age, it is important to consider two main factors: how to set yourself apart from the competition, and where to specifically focus on increasing profit margins. When devising a solid strategy to accomplish these objectives, it’s crucial to identify universal trends in consumers’ retail … [Read more...] about High-Value Add-Ons Improve Your Dealership’s Bottom Line