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The CAFE standards will significantly reduce U.S. oil consumption and greenhouse gas emissions when fully implemented, according to the EPA and NHTSA. But there’s a cost involved in achieving the standards.

If your dealership owns the building it’s in and the land it’s on, you might literally be sitting on unnecessary risks. But separating your business from those possessions can help protect you from an assortment of liabilities. And making it happen isn’t hard.

The tasks and responsibilities that go along with owning an automobile dealership can sometimes be overwhelming. There are a number of different matters to focus on as you conduct dealership strategic planning. Here are a few areas where you can start.

Many dealership owners view their external accountant simply as the 'number-cruncher' who reviews or compiles financial statements and prepares tax returns. But don’t forget: He or she can also help sort out other financial issues at your dealership.

Given the strong correlation between initial vehicle quality and customer loyalty, dealerships should look for opportunities to turn high levels of quality and loyalty into more repeat business. Here's how.

What would you do if all the data on your dealership’s computers were locked up and held for ransom? Unfortunately, this is exactly what’s happening to businesses all over the country, including dealerships.

Unemployment tax rates for employers vary from state to state and, typically, the more claims made against your dealership, the higher your premiums climb. Here are several best practices you can follow to keep the lid on employment taxes.

According to the Governance & Accountability Institute, more than 4 out of 5 S&P 500 companies issued sustainability reports in 2015. What is sustainability reporting and what are the benefits?

Profits for dealerships are at an all-time high but the average dealership net profit margin has remained flat for the past five years. One of the biggest challenges faced by many dealerships today is the transparency of vehicle pricing.

One of the most effective ways for dealerships to lower income taxes is by adopting LIFO accounting. If you've dismissed the idea of using LIFO accounting in the past, it doesn’t hurt to reconsider the benefits of this approach.

The end of the calendar year is a fine time to review your employees’ performance. Thoughtful assessments of their successes and shortcomings in the past 12 months will help you provide constructive feedback as you head into the New Year.

If your dealership offers health insurance benefits, there’s a good chance you’ve seen a climb in premium costs. Rising premiums have left many dealerships with difficult choices about whether to continue to offer this important employee benefit.

Thanks to the Protecting Americans from Tax Hikes (PATH) Act of 2015, the Work Opportunity Tax Credit is now available through the end of 2019. Here are the groups that qualify and the money you can save.

What would happen if your dealership were sued, or if your business failed and creditors chased after your assets? No one wants either scenario to materialize, but there are certain precautions you can take to protect your dealership’s assets 'just in case.'

The details involved in cost segregation can be complex, so it’s smart to obtain professional advice and assistance from a tax advisor. Your CPA firm can help you analyze the potential tax benefits of having a cost segregation study performed.

Having established P&Ps is especially important in the Parts and Service department. Perhaps no other area of the dealership holds as much potential for high revenue and profits – or conversely, for waste, inefficiency and fraud.

Utilities represent a large variable expense for most dealerships. To lower these costs, a growing number of stores are switching to light-emitting diode (LED) lighting, both inside the dealership and in the parking lot.

In 2006, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) launched a joint project designed to change the way leases are accounted for under U.S. Generally Accepted Accounting Principles (GAAP).

Buying or selling a dealership can be stressful – it may be the largest financial transaction you’ll ever make. And when you have an interested buyer (or seller), but are nowhere near settling on the purchase price, the situation can become disappointing. Before tossing in the proverbial chips, you might want to consider an earnout provision.

Researching macro trends impacting the automotive industry is a valuable strategic planning exercise.