March 13, 2023

One of the significant challenges of running any automotive dealership is moderating expenses. General managers and dealer principals are responsible for controlling many costs, including payroll, vehicle inventory, floorplan, and parts inventory. Monthly bills add up, and there is less revenue to put toward necessary resources. A major opportunity for expense control may be the dealership’s software stack.

The past two years have seen auto retailers adapt to limited vehicle inventory and pandemic restrictions while driving profits to new heights. Now dealers face rising interest rates — a critical concern for an industry that relies on capital to fund operations and growth. For some, it’s time for a balance sheet review and risk management reset.

By now, many of us have seen a TikTok video filmed at someone’s workplace — a “day in the life” video, someone complaining about their coworkers, supervisors, or customers, or someone talking about an unrelated subject while at the office. And a relatively new platform, BeReal, goes a step further by encouraging users to provide an unfiltered view into their “real” everyday life at random moments throughout the day. Of course, such organic social media clips can be a valuable tool that helps market your brand and build stronger employee relationships — but where do you draw the line?

When considering who to choose for such an important role as their F&I partner, dealers must ask why they would consider a broker. That is, why consider a broker vs. a single-line agent or a direct employee vertical company?

In January 2023, the Illinois General Assembly passed the Paid Leave for All Workers Act (“PLFAW”)1 and as of the writing of this article, the legislation is expected to be signed into law by Illinois Governor Pritzker and once signed, will become effective January 1, 2024. This new law will require most all Illinois employers to provide employees up to 40 hours of paid leave which employees can take “for any reason of the employee’s choosing” during a designated twelve-month period.

A wise person once said, “Some of us grew up playing with tractors and trucks. The lucky ones still do.”

This could very well describe the Hopkins family, owners of Truck Centers, Inc., a longtime IADA member. With the third generation currently running the family business that includes 12 locations in three states, almost all Hopkins family members have been involved over the years.

Growing up in Bartelso, IL, a downstate farming community with a population of 450, K&J Chevrolet, Carlyle, Principal Dealer Tony Jansen learned early on that farming sets the pace of the local economy. Starting at age 12 while working at his family’s Chevrolet dealership in Germantown, IL, he learned the nuances of serving the needs of farmers.

David Parkhill is President and CEO of Sullivan-Parkhill Holdings, Inc. He was elected as the 2023 Chairman of the Illinois Automobile Dealers Association (IADA) during its annual meeting for the election of officers, held in November 2022. Previously, David served as IADA Vice Chairman, Treasurer and Secretary. David has served on the boards of the Don Moyer Boys and Girls Club, The Community Foundation of East Central Illinois and the Champaign Country Club. He is a founding member and Chair of NCM 20 Group and former Chair of NADA 20 Group GC06.