Special Considerations With M&A Transactions Involving Foreign Entities
As many countries around the world face increasing destabilization, we have seen an increase in foreign investment in the US. Thanks to sustained top and bottom-line growth and increases in dealership value, it is only natural that the automotive industry has become a target for foreign buyers seeking to make investments in the United States. This article details the unique challenges faced by “cross-border” M&A transactions and is a must read for any auto dealers considering entering into a deal with a foreign investor or entity.
Dealerships In Depth – With Jenkins Auto Group
MBAF profiles Don Jenkins of the Jenkins Auto Group for his insight on running a successful business and trends in the industry. Jenkins Auto Group (JAG) specializes in sales and service of new and pre-owned vehicles in 10 dealerships in Florida and Georgia.
Customer Satisfaction and Your Service Department
Customer satisfaction in the service department is one of the keys to a dealership’s overall success. Higher satisfaction can result in loyal customers that produce recurring revenue for the dealership in the form of additional service appointments and potential future vehicle sales. Your service department must constantly evolve to better meet the needs of your customers. This article details the evolution of the role of the service advisor, explains the downside to the new role, and provides suggested solutions.
Hurricane Season: Is Your Dealership Ready to Weather the Storm?
It does not take a major disaster to seriously impact your dealership, even a loss of power that shuts down your phone systems or order processing for a day could lead to incalculable lost revenue. According to a recent study, at least 1 in 3 small business owners have personally been affected by a storm or extreme weather. The key to minimizing the impacts of disasters is to have a Disaster Preparedness Plan in place for your dealership. MBAF has some basic tips to help you be prepared.
SCOTUS Rules in Favor of Auto Dealers on Overtime for Service Writers
The Supreme Court overturned the federal Ninth Circuit Court of Appeals decision which had ruled that service writers are not exempt from overtime as “salesmen.” The Court ruled in favor of the dealership which claimed its service writers are similar to car salesmen or mechanics who are exempt from overtime requirements under the FLSA. This advisory explains the Supreme Court’s decision and its impact on dealerships.