THE FRONT ROW F E B R UA R Y 2 0 2 4 • W S I A D A . CO M
T H E M AG A Z I N E F O R WA S H I N G T O N I N D E P E N D E N T AU T O D E A L E R S S I N C E 1988
LEGISLATION & EDUCATION
ON THE HORIZON FOR 2024
FTC Passes Amendment to Safeguards Rule FTC Finalizes CARS Rule Optimizing Lot Management with Advanced Connected-Vehicle Data FEATURE 5 Visual Marketing Tips for Car Dealers to Boost Online Leads
PLUS
How to Turn 100-plus Cars a Month
THE FRONT ROW | WSIADA.COM FEBRUARY 2024 | 1
2 | THE FRONT ROW | WSIADA.COM FEBRUARY 2024
CONTENTS FEBRUARY 2024
THE FRONT ROW The official magazine of the WASHINGTON STATE Independent Auto Dealers Association 707 Auburn Way South | Auburn, WA 98002 T: 253-735-0267 staff@wsiada.com | WSIADA.COM EXECUTIVE BOARD Wasim Azzam, Board President All Right Auto Sales | President@wsiada.com Badie Darwazeh, Board Vice-President Seattle Auto Haus | VPresident@wsiada.com J.T. Curry, Board Secretary Motors Northwest | Secretary@wsiada.com Emil Scarsella, Board Treasurer Town & Country Auto Sales | Treasurer@wsiada.com CHAPTER PRESIDENTS Tony Bonnallie – North Cascade Mission Motors | NoCascade@wsiada.com Vacant – North Sound NoSound@wsiada.com Victor Perez – South Sound Route527 Motorsports | SoSound@wsiada.com Rachel Frankel - Vancouver Top Auto Brokers | Vancouver@wsiada.com Vacant Position – Yakima Yakima@wsiada.com Vacant Position – Tri-Cities Tri-Cities@wsiada.com Vacant Position – Spokane Spokane@wsiada.com
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Production Editor Professional Mojo Copyright 2024 | WSIADA
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OPTIMIZING LOT MANAGEMENT WITH ADVANCED CONNECTEDVEHICLE DATA Connected-vehicle data is enabling fleets and dealerships to harness the power of predictive analytics.
HOW TO TURN 100-PLUS CARS A MONTH Dealer who bills himself “world’s most successful car salesman” says it’s all about business structure.
ACQUIRING MORE USEDVEHICLE INVENTORY WITH VIDEO OFFERS Dealers need to make their emails stand out from the crowd. One solution to grab your customers’ attention is video. Specifically, videos that make personalized cash offers to a specific customer for a specific vehicle.
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AT-LARGE BOARD Randy Fletcher, Board President (Emeritus) In-N-Out Auto Sales Ken Williamson, Board President (Emeritus) John’s Auto Mart, LLC WSIADA STAFF Rick Olson, Director of Operations Mila Froman, Membership Manager Mary Walton, Accountant Lane Schulz, Event Coordinator
LEGISLATION AND EDUCATION ON THE HORIZON WSIADA’s Executive Director outlines the current legislation timeline and announces upcoming education and networking opportunities for 2024.
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FTC PASSES AMENDMENT TO SAFEGUARDS RULE An amendment approved in October will require auto dealers and other non-banking institutions to report security breaches involving the information of more than 500 consumers to notify the FTC within 30 days of the discovery. The amendment will go into effect May 13, 2024. FTC FINALIZES CARS RULE The Combating Auto Retail Scams (CARS) rule, which will take effect July 30, 2024, will require automobile dealers to provide consumers with an offering price, disclose all optional add-ons, and give information about total payment when discussing the monthly payment.
AI AND THE AUTOMOTIVE DEALERSHIP LANDSCAPE IN 2024 In 2024, artificial intelligence stands as the transformative force set to reshape the automotive industry, particularly at automotive dealerships.
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5 VISUAL MARKETING TIPS FOR CAR DEALERS TO BOOST ONLINE LEADS What’s often overlooked is the crucial role of visual marketing strategies in the online realm.
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KRILLIN’S CORNER
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READ & RESPOND QUIZ
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