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Car Dealer Insider July 1, 2012
| - Directions for taking charge of succession and estate planning in your dealership
More than 40% of new car dealerships sell for reasons beyond the owner's control. And the best time to plan for succession is when it isn't staring you in the face.
Fifteen years ago, when the founder of a successful car dealership chain decided to retire, he knew exactly whom he wanted to take control of his company. His son and two daughters were actively involved in the business, and all were well prepared to take the reins. Sure enough, the transition was seamless, and the car dealerships continued to grow. By 2006, the company was worth more than $100 million.
| - Trend Spotting
Alec Gutierrez, senior market analyst, automotive insights, Kelley Blue Book says that although it's possible that the pace of auto sales will begin to level off in coming months, June gave no indications of a sales slowdown anytime soon.
For franchised dealerships, June was a month of swarming trade-ins and solid growth in the used-car department, where sales climbed more than 4 percent year-over-year, according to CNW Research.
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