One might as well use cash to light fires as to ignore potential regulations, which can be extremely expensive, both directly and indirectly. Regulations yield duties that must be discharged. Failure to discharge them triggers investigations, fines, litigation, class actions, and other consequences.
Optimus Energy Solutions has been collaborating with qualified businesses across Florida to help them utilize tax credits for on-site electric vehicle (EV) charging equipment. While much of the focus on EV tax credits is directed at consumers purchasing electric vehicles, dealerships may also be eligible for these credits to offset their costs.
The car-buying experience is a crucial factor for dealerships in today’s competitive landscape. However, evaluating and refining this experience can be challenging, as dealerships traditionally convert less than 8% of their internet leads. This is where AI-powered tools come in.
The CDK cyber outage could potentially cost dealers nearly $1 billion in lost revenue. BDO's forensic accounting department is assisting with cyber insurance claims to help recover as much of that lost revenue as possible.
In light of recent cybersecurity incidents within the automotive industry, such as the CDK incident, dealerships are reminded to implement critical steps to protect against potential threats from malicious actors. While complete immunity from attacks is unattainable, there are essential tools that should be utilized.
On Wednesday, June 19, CDK Global reported experiencing a "cyber incident" that necessitated the shutdown of all its systems. Despite restoring DMS, Digital Retail, and CDK Phones, including Unify and DMS direct login access by Wednesday afternoon, another incident occurred later that evening, leading to another complete system shutdown. The duration of the outage remains uncertain, and customer service is currently unavailable.
FADA has announced an important update to the ComplyAuto Privacy tool, specifically concerning the cookie consent banner. This change will be implemented for all Privacy customers on Friday, March 15, 2024.
As dealer state associations continue their advocacy for members, the Florida Automobile Dealers Association (FADA) is intensifying its efforts in response to recent challenges to franchise laws. Ted Smith, President of FADA, recently discussed their plans on an episode of Inside Automotive.
The National Automobile Dealers Association (NADA) and Automotive Dealer Training (ADT) have announced the opening of their annual Dealership Workforce Study. This study aims to provide insights into workforce trends within the automotive dealership sector.
On Monday, the Center for Automotive Research (CAR) issued an updated study assessing the costs and impacts associated with the Federal Trade Commission’s (FTC) Vehicle Shopping Rule following the final rule’s release on January 4, 2024. Automotive News covered the updated report in their June 3 article, “FTC regs will still cost dealers money, consumers time — just less than originally thought, NADA-backed study finds.”