Digital Dealer - January 2019 - 30

D E A L E R OP S & M ANAGEM ENT: Own e r shi p

By Champ Rawls
Partner,
The Rawls Group

Trade, Tariffs,
and Labor
The U.S. economy has
been experiencing one
of the strongest upward
surges in years. The Bureau
of Economic Analysis(1)
reported that the real gross
domestic product increased
at an annual rate of 4.1% in
the second quarter of 2018.
And judging by the record
upward trend of the stock
market, we have been
seeing strong growth in the
U.S. across a diversity of
sectors. Due to this, it is no
surprise that automotive

30

JANUARY 2019

retail dealers are experiencing really good times. And to
be fair, much of it is
deserved after what the

industry experienced a
decade ago. However,
those reading this know how
hard this industry is and the

THERE IS NO CRYSTAL
BALL INTO WHAT TO
EXPECT IN THE FUTURE,
OR WHEN THINGS MAY
OCCUR THAT WILL
HAVE AN IMPACT ON
OUR ECONOMY AND
ENVIRONMENT."

D I G I TA L D E A L E R . C O M

demands it takes to be
successful with shrinking
margins, rising interest
rates, irregular incentives,
critical customers, and a
stagnating sales environment. With that, dealers
need to be looking forward,
more than ever, for the
potential potholes that can
damage the economy and
further impact the economical 'good ride' we've been
on.
As we leap into another
year, it is critical that we
are 'forward' facing on
the journey of growth and
sustainability. Considering
factors that may impact
the automotive retail space
means paying attention to
not only the economy, but all
those other things creating
major changes and shifts in
how we do business.
Recently published by
Bernstein, the "U.S. Portfolio Strategy: How much
trade-war damage is already priced," reported that
the industries exposed to
trade risks include automobiles, auto components, and
machinery. This should be a
startling jolt for retail dealers
nationwide. The trade tariff
changes from earlier this
year are increasing exported Chinese goods from 10%
to 25%. And with increased
costs, how are you going
to plan for these costs to
ultimately be passed onto
you? Are you going to then
pass it on to the customer?
How will these increased
costs impact your day-today, as well as your ability
to sustain and grow? The
Chinese goods is just one
example.



http://www.DIGITALDEALER.COM

Digital Dealer - January 2019

Table of Contents for the Digital Edition of Digital Dealer - January 2019

Digital Dealer - December 2018
Contents
Message from the Show Director
6 Facing Sales Slump, Automotive Brands Can Win by Adding Real-World Value in the Digital Shopping Journey BY Brian Solis
7 Reasons for a 2019 Social Media Policy Review
'OVER-THE-TOP' Advertising! BY Jim Boldebook Dealer Ops
Buy/Sell Trends Expected in 2019
The Two Non-Negotiable Pillars of Accountability
7 Questions to Ask When Hiring a Customer Service Trainer
How to Add $1.0MM to Your Bottom Line Profits
The Art and Science of Parts Inventory Reconciliation
Trade, Tariffs, and Labor
Building Your Business by Building Your People!
Great Service Managers Follow a 4C Approach
Collision Shop Liability Is a Serious Issue for All – Read This!
Does Your Store Exemplify Consistency & Excellence or Complacency & Mediocrity?
Increasing Service Business Through Convenience – A Tactical Approach
5 Questions That Are Missing from Your F&I Customer Interviews
How to Drive Sales with Predictive Analytics BY JOHANNES GNAUCK
Digital Dealer - January 2019 - CT1
Digital Dealer - January 2019 - CT2
Digital Dealer - January 2019 - Digital Dealer - December 2018
Digital Dealer - January 2019 - Cover2
Digital Dealer - January 2019 - 1
Digital Dealer - January 2019 - Contents
Digital Dealer - January 2019 - 3
Digital Dealer - January 2019 - Message from the Show Director
Digital Dealer - January 2019 - 5
Digital Dealer - January 2019 - 6 Facing Sales Slump, Automotive Brands Can Win by Adding Real-World Value in the Digital Shopping Journey BY Brian Solis
Digital Dealer - January 2019 - 7
Digital Dealer - January 2019 - 7 Reasons for a 2019 Social Media Policy Review
Digital Dealer - January 2019 - 9
Digital Dealer - January 2019 - 'OVER-THE-TOP' Advertising! BY Jim Boldebook Dealer Ops
Digital Dealer - January 2019 - 11
Digital Dealer - January 2019 - 12
Digital Dealer - January 2019 - 13
Digital Dealer - January 2019 - 14
Digital Dealer - January 2019 - 15
Digital Dealer - January 2019 - 16
Digital Dealer - January 2019 - 17
Digital Dealer - January 2019 - Buy/Sell Trends Expected in 2019
Digital Dealer - January 2019 - 19
Digital Dealer - January 2019 - 20
Digital Dealer - January 2019 - 21
Digital Dealer - January 2019 - The Two Non-Negotiable Pillars of Accountability
Digital Dealer - January 2019 - 23
Digital Dealer - January 2019 - 7 Questions to Ask When Hiring a Customer Service Trainer
Digital Dealer - January 2019 - 25
Digital Dealer - January 2019 - How to Add $1.0MM to Your Bottom Line Profits
Digital Dealer - January 2019 - 27
Digital Dealer - January 2019 - The Art and Science of Parts Inventory Reconciliation
Digital Dealer - January 2019 - 29
Digital Dealer - January 2019 - Trade, Tariffs, and Labor
Digital Dealer - January 2019 - 31
Digital Dealer - January 2019 - Building Your Business by Building Your People!
Digital Dealer - January 2019 - 33
Digital Dealer - January 2019 - Great Service Managers Follow a 4C Approach
Digital Dealer - January 2019 - 35
Digital Dealer - January 2019 - Collision Shop Liability Is a Serious Issue for All – Read This!
Digital Dealer - January 2019 - 37
Digital Dealer - January 2019 - 38
Digital Dealer - January 2019 - Does Your Store Exemplify Consistency & Excellence or Complacency & Mediocrity?
Digital Dealer - January 2019 - 40
Digital Dealer - January 2019 - 41
Digital Dealer - January 2019 - Increasing Service Business Through Convenience – A Tactical Approach
Digital Dealer - January 2019 - 43
Digital Dealer - January 2019 - 5 Questions That Are Missing from Your F&I Customer Interviews
Digital Dealer - January 2019 - 45
Digital Dealer - January 2019 - How to Drive Sales with Predictive Analytics BY JOHANNES GNAUCK
Digital Dealer - January 2019 - 47
Digital Dealer - January 2019 - 48
Digital Dealer - January 2019 - Cover3
Digital Dealer - January 2019 - Cover4
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