On today’s CBT Newscast for Friday, January 26th, 2018:
Max Zanan: Why compliance is more important than ever now
With all the talk about margins shrinking from new car sales, your dealership should be focusing strongly on compliance this year. “It can certainly add up,” says Max Zanan, Founder of Total Dealer Compliance and author of the book Perfect Dealership. Watch Now
Is Tesla revolutionizing pay for CEOs?
Earlier this week, it was revealed by Tesla in a regulatory filing that proposed an all-or-nothing pay package for Elon Musk. It requires that Tesla grow in $50 billion leaps, to a staggering $650 billion market capitalization. The company is worth less than $60 billion today. The plan is obviously different from other CEOs in the auto industry, but in an interview with CNBC’s Power Lunch, David Kreutzer, a senior research fellow at the Heritage Foundation, made it very clear why Tesla is so different from those other CEOs. Watch Now
Future proofing your dealership
What exactly does future-proofing your dealership entail? Looking for constant solutions to deal with things like razor-thin margins on new vehicles. For Mike Jackson, CEO of AutoNation, Forbes says he has found a potential antidote. According to Forbes, Jackson has been growing a stable of related, higher-margin businesses under the AutoNation umbrella, like used-car stores (AutoNation USA), resale auction (AutoNation Auto Auction), replacement parts (AutoNation Precision Parts), and repair shops (AutoNation Collision Centers). Read More