Pub. 6 2024 Issue 2

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New light-vehicle sales in August totaled a SAAR of 15.1 million units, down 1.1% from August 2023’s 15.3 million. The August 2024 sales calendar included Labor Day weekend this year, which led to a raw sales volume totaling 1.42 million units, an increase of 7.6% year over year. Even so, after seasonal adjustment, August 2024’s SAAR was down slightly. Through the first eight months of the year, raw sales volume totaled 10.5 million units, up 2.2% compared with the same period last year.

“Less is More” is a popular phrase that has been tossed around for years, even dating back to the ancient Greeks. You may have heard it in various settings — perhaps the Minimalist Movement comes to mind. “Less is More” is a simple yet powerful concept that can greatly impact your life. The essence of the principle is this: Instead of always striving for more, sometimes focusing on less and simplifying things is better. By doing so, you can reduce stress, increase clarity and achieve greater satisfaction in your daily life.

Running a business in the automotive industry can be like racing on a track that’s always changing. Much like in any high-level race, consistently winning depends on how thoroughly you understand your vehicle and its systems, how efficiently you spend your time and resources, and how skillfully you navigate the course. However, since this course never stops shifting, those who consistently make it to the winner’s circle in this competition are the ones who are also best able to adapt to the unexpected curves.

Over the past few years, warranty audits have become mandatory. They are no longer driven by your dashboard or the health of your dealership in the eyes of the manufacturer. They are happening more randomly as manufacturers work to claw back warranty dollars however and wherever they can.

In the auto industry, there is a gap between the number of women in leadership and those who buy cars. Maintaining that discrepancy is risky because it shows a lack of innovation when serving the market.

The importance of prioritizing the mental health of your employees cannot be overstated. Ensuring the overall well-being of the people who build up your business is vital to its direct success. Mental health issues, like stress and anxiety, are at an all-time high in the workplace. In fact, 50% of full-time U.S. workers have left a previous role due, at least in part, to mental health reasons. While workplace mental health has traditionally been the responsibility of HR teams, it’s now vital for the leaders of the organizations to take this into their hands as well, in order to fight against burnout and stress. Here are five ways you can help your employees and promote mental health in the workplace: