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Dealership Conversations

Dealer Conversations

The dealer environment is rapidly changing, and you need reliable sources of information more than ever. Dealer Conversations covers topics and issues important to you and your business. We would like to hear from you — join the conversation!

Maximize tax credits from electric vehicle charging stations

November 8, 2021

How to benefit from an initial-year electric vehicle charging station tax credit for charging stations installed in 2021.

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AICPA & NADA continue efforts in requesting inventory tax relief from the IRS for dealerships on LIFO

November 2, 2021

Why the IRS should offer inventory tax relief to dealerships that use LIFO accounting and had unexpected tax liabilities due to COVID-19 inventory shortages.

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Recognizing employee burnout in relation to turnover in your dealership

May 10, 2021

Many dealerships are experiencing a significant problem: employee burnout and high turnover rates. 

They’re not alone in it either. It’s a common problem in other industries as well. With the pace of change ramping up, restructuring challenges and inventory frustrations (just to name a few), it’s no surprise that many employees are burned out. In addition to work stress, most of us are facing additional stress outside of work.

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Onward and upward

April 19, 2021

By Steve Hewitt

If the last year taught us anything, it was the importance of being agile in business planning. We must be able to shift focus and adjust our priorities at a moment’s notice. A year ago at this time, dealership showrooms were restricted to help slow the spread of the virus. 

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A conversation with Abby Liebergen

February 23, 2021

By Steve Hewitt

As you know, we’re committed to serving the dealer industry, and we’ve been growing our team of industry professionals. Recently, I had a conversation with the newest member of our team, and I thought it would be great to share it with you.

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What dealerships should know about the electric vehicle tax credit program

February 1, 2021

By Kevin Cherney

The world is getting greener. Consumers are becoming more conscious of their environmental footprint and looking for ways to save money. One way they’re doing so is by purchasing electric vehicles. States are encouraging these purchases, too. In California, the governor has taken action to ban the sale of non-electric vehicles after 2035. Furthermore, GM just announced their goal to be 100% EV by 2035.

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What dealers should watch for in 2021

January 26, 2021

By Steve Hewitt

In December we heard from just about everyone that they couldn’t wait for 2020 to end. There’s no doubt that 2020 presented a firestorm of challenges, and back in March it’s safe to say that many didn’t expect dealerships to have a successful year. Yet by and large, most dealers have fared well in the wake of COVID-19.

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PPP considerations for dealerships: Cash flow planning

October 27, 2020

By Kevin Cherney

Since the Paycheck Protection Program (PPP) was launched to provide relief for struggling businesses in the wake of the COVID-19 pandemic, we’ve had a lot of discussion around what expenses qualify for forgiveness and reporting requirements. However, cash flow planning is something that should be on every dealership’s radar now — if you simply kick the can down the road, you could find yourself in a bind later. 

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How dealers are faring in the wake of COVID-19

October 13, 2020

By Steve Hewitt, John Lloyd

By and large, dealers have fared better than expected in the wake of COVID-19. Working with dealer groups around the country, we’ve observed that many lost profits in March and April. Most have made steady gains since then, and the past few months have been strong.

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Dealer Conversations: Making deals during COVID-19

August 23, 2020

By Mark W. Ayers

Is it just me, or does March sometimes seem like it was over a year ago ? The coronavirus has made just about everything more difficult. But we are resilient people. My wife and I are experiencing firsthand the additional challenges of selling and then building a house this year. Some of the challenges that we are facing are similar, although certainly on a much smaller scale, to what everyone buying and selling businesses is experiencing: virtual meetings to negotiate contracts instead of in-person, questions over vendor supply issues and how that will impact the transaction, reviewing and signing documents electronically, and questions about whether the buyer or seller will be able to fulfill their obligations as a result of unforeseen issues that might lie ahead.

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Dealer Conversations: Let’s talk about what’s important to you

August 10, 2020

By Steve Hewitt

Welcome to Dealer Conversations! We’re excited to bring you a brand-new blog — a communication channel focused on what’s happening in the dealer industry, from dealership news to insights to trends.

As the firm’s dealership industry practice leader, I’m having conversations with dealers daily. And having worked exclusively with this industry for decades, I’m familiar with industry trends and what’s on your minds. And needless to say, in today’s environment, it’s a lot.

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