Everything You Need to Know to Be a Successful and Competitive Automotive Dealer in Virginia.
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April will see historic lows for auto sales — with silver lining
Historic lows are expected in April as the full effects of COVID-19 are felt across the U.S. auto market, according to VADA Program Partner Cox Automotive. Among the numbers: Light-vehicle sales volume is expected to finish near 620,000 units, down 53% compared to last April and down 37% compared to March 2020. After incorporating seasonal
A Message from Don Hall
April 2020 To say we’re living in unprecedented times is an understatement. Things are changing by the week, by the day, sometimes even by the hour. What you need to know most is that we are strong as individuals – and we are even stronger as an Association. Together, we will navigate through this
Rising to Today’s Challenges
For more than a century, franchised auto dealerships have met various challenges to serve the transportation needs of their communities. One of the current challenges for franchised dealers everywhere is to operate businesses amidst economic uncertainty and in compliance with applicable state and federal government directives. Thankfully, once again, dealers are rising to the occasion
Survey Shows ‘Extreme’ Impact of COVID-19
Our latest dealer survey, conducted in late March, shows that every one of your businesses has been impacted by the coronavirus outbreak — with nearly 75% reporting the impact as “extreme.” Sales appear off by approximately 50%, while service is down by nearly 40%. Already, about 45% of dealerships have had to furlough employees, with
Digital Updates and Used Vehicle Inventory
Dealers have a new concern about the used vehicles they buy or take in trade – digital updates that disable vehicle functions. You buy a vehicle with the latest tech, advertise it with those tech features, and then the used vehicle buyer finds the features do not work. The customer is angry and wants to
CHALLENGING A FRANCHISOR AUDIT
Dealers have become accustomed to having large amounts of franchisor money at stake in day to day operations. Historically, warranty and recall repairs have generated substantial monthly claims. While the increasing quality of vehicles may have reduced warranty work, repairs because of recalls have mushroomed in recent years. The other bases for claims are sales
Department of Defense Withdraws Position on Military Lending Act
By now, you have probably heard that on Feb. 28, 2020 the Department of Defense granted a petition from the National Automobile Dealers Association to withdraw its 2017 interpretation of the Military Lending Act that affected the ability of dealers to sell GAP to active military members and their dependents. Now that the DoD has
Coronavirus and Hackers
We often warn that digital fraud is a growing threat to dealers. The coronavirus gives hackers and scammers an opportunity to show there is no depth too low for them to sink. Their scams are ever-evolving, and they continue to prey upon our fears. Hackers and scammers are using emails that appear to be official
Coronavirus (COVID-19)
For the latest updates on the global pandemic and impacts to Virginia automobile dealers, visit our Coronavirus Resource Center. Visit VADA’s Coronavirus Resource Center