How Will the Trump Tariffs Impact the Auto Industry?
President Trump has proposed imposing 25 percent tariffs on imported automobiles and automotive parts. The estimated effects of such tariffs would be widespread in the automotive industry as even “American-made” vehicles contain imported parts. This article provides an unbiased explanation as to what individual dealers can expect if such tariffs are implemented.
Dealerships in Depth – With Brett David
In this issue, we spoke with Brett David, CEO of Prestige Imports and Lamborghini Miami. When his father passed away in 2007, Brett took over Prestige Imports at the age of 19! He has built on the over 40 year reputation of the brand, taking the reins of one of South Florida’s most prestigious luxury car destinations and the leading Lamborghini dealership in the United States. Since taking over Brett has sold over a billion dollars of luxury automobiles and continues to expand the Prestige Imports business with brands such as Pagani, Karma and Lotus.
MBAF will be attending the 2019 NADA Show in San Francisco, California on January 24th through January 27th. We look forward to seeing you there.
Is Your Dealership Prepared for Rising Interest Rates?
Interest rates for new car loans have been on the rise. In fact, according to Edmunds, they reached their highest mark in the past eight years during the first quarter of 2018. As interest rates rise, the average dealership gets dealt two heavy blows. There are less buyers available who can afford new cars, and dealers have to deal with the cost of holding on to excess inventory.
How Do the New Rules on Interest Expenses and Depreciation Impact Automotive Dealerships?
The Tax Cuts and Jobs Act, (The Act), has brought with it many changes that impact auto dealerships. Some of the most significant changes in The Act (aside from the qualified business income deduction), directly effecting automotive dealers, are the new rules which apply to interest expense and bonus depreciation.