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Sen. Jeff Bingaman (D-N.M.) on July 12 introduced legislation (S. 2726) to treat vehicle dealer transitional assistance as an involuntary conversion in an effort to assist Oldsmobile dealers, whose product line
is being phased out by parent company General Motors Corp.
According to Daily Report for Executives, Bingaman's self-described "modest" bill is designed to aid the 2,801 Oldsmobile franchised dealers across the country as they reinvest phase-out compensation from GM into other dealership opportunities.
GM notified dealers of its decision to eliminate the Oldsmobile line in December
2000 and is in the process of compensating dealers to assist in the phase-out of that line at their dealerships, according to the bill.
Also, dealers will be required out of financial necessity to reinvest those payments into other dealership opportunities, according to Daily Report for Executives.
The increasingly important profit center continued making gains in the first quarter, according to StoneEagle data, ancillary products proving more popular as consumers hold onto their buys longer.
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For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
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In this video, Ryan Ruff explains the rule that elite sales professionals use to turn ordinary conversations into unforgettable customer experiences.
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What’s the atmosphere saying about you to your customers? You can make minor adjustments and additions that transform your space into one that creates trust with the people on the other side of the desk.
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How can auto dealerships help F&I managers fulfill their vital role in the most effective ways? Industry expert Rick McCormick shares his insights on the best ways to train these professionals and help them maintain good habits.
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More consumers and businesses are opting for all-season options for various reasons as safety, sustainability and convenience push practical change.
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It’s time to take the next digital step to free F&I managers to handle the most challenging aspects of customer meetings.
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Some of it should be given to the customer, but that doesn’t mean the F&I office relinquishes the process. In fact, a different approach both builds trust and boosts sales.
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Talk to F&I customers like you’d talk to a friend, without industry lingo or sales-like questions, and use hard proof to show, not tell, them about a need.
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