Car dealers are optimists and pragmatists. They are entrepreneurial and always looking for new business opportunities. A recent study by Cox Automotive found that, rather than fear the new mobility modes beginning to take shape, dealers see them as an opportunity.
The just-released 2018 Cox Automotive Evolution of Mobility Study: A Dealer’s Perspective found that while dealers think emerging shared-mobility models such as ride-hailing and ride-sharing will result in a decline in personal car ownership, they see the change as a chance to appeal to a new consumer base. Dealers also see more fixed operations opportunities as vehicles log more miles and require more service.
On to this week’s issue. Are your dealership books kept according to Generally Accepted Accounting Principles (GAAP)? If not, having an accounting firm with experience working with auto dealerships audit your books on a GAAP basis can save you time and possibly money if you decide to sell. In this week’s issue, a new face from a familiar firm, Rosenfield and Co., lays out the reasons why.
Experienced legal advice can make a difference between a deal going through or failing when an acquisition contract is being signed, writes George M. Taylor of Burr & Forman. Read his example in this issue of a disagreement over the inclusion in a contract of a common waiver to see why that is so.
And don’t miss Transaction News.