new jersey dealer news june july 13

CRASH DATA RETRIEVAL (CDR)

• THE FOUNTAIN OF YOUTH • PREDICT YOUR OWN FUTURE• COMPLIANCE OVERDRIVE

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PAIDDALLAS, TEXASPermit No. 2079

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JUNE/JULY 2013N E W J E R S E Y I N D E P E N D E N T A U T O M O B I L E D E A L E R S A S S O C I A T I O N

DEALER NEWS

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JUNE/JULY 2013 D E A L E R N E W S

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ADVERTISERS INDEX

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WHAT’S NEW

04 Data Speaks for Itself06 The Fountain of Youth 10 Predict Your Own Future18 Washington Update 22 Compliance Overdrive

ADESA .......................... Inside Front CoverAlly .......................................................17Auto Auction of New England ...................9Auto Use ...............................................19AutoManager ........................................15Chase .................................................. 18Manheim New York .................................5Manheim Pennsylvania ..........................11Manheim.com .............. Inside Back CoverProtective ...............................................7Southern Auto Auction ................... 12, 13STARS GPS ...........................................20.United Acceptance ................................21VAuto ......................................Back Cover

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FOR INFORMATION ON HOW TO BECOME A MEMBER, PLEASE CONTACT PAULA FRENDEL (855) 694-2324 [email protected] WWW. NEWJERSEYIADA.ORG

NATIONAL INDEPENDENT AUTOMOBILE DEALERS ASSOCIATIONWWW.NIADA.COM • WWW.NIADA.TVNIADA HEADQUARTERS: 2521 BROWN BLVD. ARLINGTON, TX 76006-5203 PHONE (817) 640-3838FOR ADVERTISING INFORMATION CONTACT: TROY GRAFF (800) 682-3837 OR [email protected] New Jersey Dealer News is published bi-monthly by the National Independent Automobile Dealers Association Services Corporation, 2521 Brown Blvd., Arlington, TX 760.0.6-520.3; phone 817-640.-3838. Periodicals postage paid at Dallas, TX and at additional offices. POSTMASTER: Send address changes to NIADA State Publications, 2521 Brown Blvd., Arlington, TX 760.0.6-520.3. The statements and opinions expressed herein are those of the individual authors and do not necessarily represent the views of New Jersey Dealer News or the National Independent Automobile Dealers Association. Likewise, the appearance of advertisers, or their identification as members of NIADA, does not constitute an endorsement of the products or services featured. Copyright © 20.13 by NIADA Services, Inc. All rights reserved.

STATE MAGAZINE MGR./SALES Troy Graff • [email protected]

EDITORS Jennifer Carman • [email protected] Andy Friedlander • [email protected]

ART DIRECTOR Christy Haynes • [email protected]

PRINTING Nieman Printing

Thursday, June 27, starting at 6 p.m. PDTLIVE BROADCAST FROM CAESARS PALACENational Quality Dealer of the Year Award

TUNE IN TO WWW.NIADA.TV OR WWW.NIADA.COMWatch from any device and cheer for your state’s top dealer.

U.S. gasoline prices hit a record high average in February, but thanks to a rapid decline in March, the average first quarter 20.13 gas prices were less than the 20.12 numbers, according to GasBuddy, which tracks gasoline prices at more than 140.,0.0.0. stations in the U.S. and Canada.

Contrary to widespread perception, Americans paid about 30. cents less for a gallon of gasoline during Easter weekend than they paid over the same period in 20.12. Gas averaged about $3.64 per gallon on Good Friday, compared to $3.93 last year.

The average price in the first quarter of 20.13 was $3.548 per gallon, compared to $3.584 for the first quarter of 20.12.

In ranking the prices for 363 metropolitan statistical areas, GasBuddy found two U.S. markets that averaged less than $3 for the quarter – both in Wyoming. Casper averaged $2.87 and Cheyenne was at $2.955. The most expensive market in the country was the Honolulu area at $4.157 per gallon, three cents more than in 20.12.

Overall, the Rocky Mountain region had the lowest prices thanks in part to relatively cheap North American crude availability for refiners. The highest prices were found in New England, Florida and California, which had eight of the 10. most expensive markets in the country.

The NIADA executive committee has recommended an addition to the bylaws in Article VI, Section 6: Meetings.

The section would read (addition in bold):

The NIADA Board of Directors Annual Meeting and Convention Meeting shall be held at the location of NIADA’s Annual National Convention, if one is held. The Midterm Meeting and any special meetings, and annual meeting not held in conjunction of with NIADA’s Annual National Convention (due to no such convention being held) may be held at any location chosen by the NIADA Board of Directors or Executive Committee. In its sole discretion, the Board of Directors or Executive Committee may determine that such meetings except for the Annual Meeting may be held solely by means of remote communication in accordance with 8 Del. C. § 211, as amended.

This addition to the NIADA bylaws will allow for more dealer participation in the business of the NIADA board of directors.

The proposed amendment will be placed on the agenda and voted on at the board of directors meeting at the NIADA Annual Convention on June 25.

I N D U S T R Y N E W S

According to data analysis by mobile advertising firm Marchex, Inc., consumers now place millions of calls to the auto industry directly through mobile ads – and once consumers connect to a representative over the phone, 79 percent of them want to buy.

Analysts aggregated anonymous data points from more than 65,0.0.0. calls placed to auto dealers, repair shops and national call centers. The calls, driven through Marchex’s mobile advertising network, came from consumers engaging with mobile ads via mobile directories, apps, mobile banners and voice search.

“Our findings underscore how very important it is to be available, in person, to answer the phone when calls come in,” said John Busby, vice president of the Marchex Institute, the Marchex’s research arm. “The auto industry should think of these conversations as money on the table. Every voicemail can cost you.”

Other findings: •Consumerscallingauto

dealers are highly motivated, asking about inventory and booking test drives.

•Consumerswhocallfrommobile ads tend to be younger than the general population.

•Mencallmoreoftenthanwomen.

•Smartphonecallerstendtohave higher income.

OVERALL, THE ROCKY MOUNTAIN

REGION HAD THE LOWEST

PRICES

EVERY VOICEMAIL CAN COST

YOU.

THIS ADDITION WILL ALLOW FOR MORE DEALER

PARTICIPATION IN THE BUSINESS OF THE NIADA

BOARD OF DIRECTORS.

Surprise! Gas Cost Less in First Quarter 2013

NIADA Committee Recommends Bylaw Change

Study: 4 of 5 Mobile Calls Lead to Sales

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D E A L E R N E W S JUNE/JULY 2013

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Diagnostic Link Connector

C R A S H D A T A R E T R I E V A L P R O V I D E S A C R U C I A L T O O L F O R T H E V E H I C L E R E M A R K E T I N G C O M M U N I T Y.

Crash data retrieval (CDR) is a proven tool that allows users the ability to image a vehicle’s airbag control module (ACM) and evaluate any “events” that might have been recorded.

Those “events” include a list of data parameters that allow the user to determine if the vehicle has been in a crash or incurred some type of force to record data. The data can be used to make informed decisions on the quality and structural integrity of a vehicle being purchased or sold.

All that is interesting. But what exactly is CDR?

Most vehicles that have an airbag also have event data recorder (EDR) functionality. There is already an EDR in most production vehicles today. It is not something you need to install and is not an aftermarket product.

More than 115 million registered vehicles on the road today can be accessed and imaged using the Bosch CDR tool. Simply connect the CDR tool to the universal data port (diagnostic link connector or DLC) of the vehicle and run the CDR software program. The CDR tool then images any data stored and creates a PDF report of the findings.

It’s the same tool used by auto manufacturers – the CDR tool currently supports select General Motors, Ford, Chrysler, Toyota/Lexus, Honda, Mazda, Suzuki, Fiat, Volvo and BMW vehicles. And thanks to a ruling by the National Highway Transportation Safety Administration, many more manufacturers are expected to be supported before long.

In August 20.0.6, the NHTSA published a final rule specifying uniform requirements for the accuracy, collection, storage, survivability and retrievability of onboard crash event data in passenger cars and other light vehicles equipped with EDRs.

The final rule was intended to standardize the data collected through EDRs so it could be put to the most effective future use.

Vehicles manufactured on or after Sept. 1, 20.12, that are equipped with an EDR and manufacturers of those vehicles must comply with the rule. Vehicles that are manufactured in two or more stages or are altered are not required to comply with the rule until Sept. 1, 20.13.

The airbag control module is where most EDR data is stored. However, EDR data or crash data can also be stored in the powertrain control module (PCM) or the rollover sensor module (ROS).

The primary job of the ACM, PCM and ROS is to detect sudden changes in direction and/or rotation and, when appropriate, deploy restraint devices like airbags. The ACM and other modules use certain bits of information, including those from crash-sensing systems, seat belt-related sensors and occupant detection systems, to decide whether and when to deploy airbags and other restraint system devices.

When certain conditions are met, those modules can record the data associated with the sudden changes in direction and/or rotation in a crash, which can later be imaged by the CDR tool. Data available to be collected depends on the year, make and model of the involved vehicle.

The CDR tool is used by law enforcement, insurance companies, collision reconstructionists, fleet managers, auto manufacturers and government researchers.

The next logical question is: How does the auto remarketer benefit from using the technology?

Auto remarketers need to gather all the pertinent information available in their evaluation of the vehicles they are considering for purchase or resale. The CDR tool provides an easy way to determine if there are any existing events stored in the vehicle, providing greater confidence for the buyer and seller. It can also help determine if some repairs were performed correctly.

“In today’s digital age, it is best to let the data speak for itself and not rely solely on seller statements, assumed to be true,” Crash Data Group president Scott Baker said. “This tool will help make quick, accurate, decisions on the vehicle in question.”

For example, a vehicle owner presents a vehicle for sale and says it was in a crash and the airbags deployed, but the vehicle

ARC-CSI Crash Conference: Visit www.arccsi.com to watch a video by Insurance Claims TV, filmed at the annual ARC-CSI Crash Conference in Las Vegas, showing real-world crash testing and data collection using the Crash Data Retrieval tool.

has been repaired and the airbags replaced. Using the CDR tool, the vehicle can be imaged. If the report shows a “deployment event,” it means while the airbags were reported to be replaced, the airbag control module was not and is locked. And that means the airbags will not deploy again.

If that is the case, you have to question whether the airbags were actually replaced or if there is just an empty reservoir. We have all heard stories of airbags that really weren’t replaced.

In addition, since the data is still there the report will also show information such as how fast the vehicle was going prior to impact and the severity of the crash. You might even be able to assess potential frame damage.

Of course, if you image the vehicle and there are no events and everything checks out fine, you’ll have greater confidence that a lawsuit won’t come back to haunt you.

Auto remarketers depend heavily on sellers to verify damage-free vehicles at end of lease or for sale. To properly investigate and assess potential damage to a vehicle, the buyer needs to have the peace of mind that the vehicle was not involved in an accident. It also provides a great service to the remarketer and ultimate end buyer, who depend on a fair assessment of the vehicle’s history to avoid significant loss.

“Industry adoption of the technology will be critical as we move further into the digital future of vehicle due diligence,” Baker said. “CDR technology is here to stay, and vehicle remarketers should be aware that the technology will help them achieve their goals while maintaining a higher level of integrity.”

For more information about CDR, call Crash Data Group at 1-80.0.-280.-7940. or visit www.cdr-system.com.

BY CLIFFORD J. SMITH CLIFFORD J. SMITH IS CDR NATIONAL SALES AND EDUCATION DIRECTOR FOR CRASH DATA GROUP, THE EXCLUSIVE DISTRIBUTOR OF THE BOSCH CRASH DATA RETRIEVAL PRODUCT LINE IN THE UNITED STATES. HE CAN BE REACHED AT [email protected] OR 1-800-280-7940, EXT.105.

COVER STORY

Data Speaks for Itself

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E M B R AC I N G T E C H N O L O GY C A N A D D L I F E T O YO U R D E A L E R S H I P A S T H E M I L L E N N I A L G E N E R AT I O N B E C O M E S A F O R C E I N T H E M A R K E T

Over the past few years, there’s been a profound change in the way people communicate. With the advent of easy-to-use personal computers, smartphones, tablets and laptops, people now get their news differently.

The “millennial” generation, which came of age during this time of communication change, has been most affected. They keep in touch with their friends differently. And they shop for cars differently.

So the question for dealers is how to reach out to that new generation and sell them cars.

A Growing MarketMillennial buyers represent 15

percent of the market, and rising. Ignore them at your peril.

Jon Osborn, research director for J.D. Power and Associates, said millennial buyers – those between the ages of 18 and 35 – are entering the prime car-buying age range. And in one way they’re not that different from buyers in the same age range 20. years ago.

“They’re similar in that buying a car is a big purchase for them in terms of money,” Osborn said. “It might be the biggest purchase they’ve made in their lives up to that time.

“What’s different is that the millennials grew up in the digital age. Now everyone uses computers or tablets or smartphones.”

Sure it’s basic, but dealers sometimes forget that to get the attention of millennial buyers, dealers must have an Internet presence. That means having a website and an app for smartphones, as well as being on third-party sites like AutoTrader.com or Cars.com.

In fact, just having a website is no longer enough. An increasing number of people – especially young people – are accessing the web with a mobile device rather than a computer.

Looking up information on a web page using a tablet or a smartphone is different than using a computer. The computer screen is bigger and web pages tend to be designed to take advantage of that size. To reach smartphone or tablet users, dealers might think of creating an app or a mobile site designed to fit on smartphones and tablets.

“If you create a mobile site, remember people will expect the same

kind of information you have on your website,” Osborn said. “So how people use the Internet has to be taken into consideration when designing pages. Dealers should be using the same technology as consumers. Having a tablet helps dealers, too.”

Tablets are portable and can be used to look up information while a salesperson is with a customer at a car. Now the salesperson doesn’t have to keep walking back to the showroom to look up information.

The younger generation is used to shopping and buying with the click of a button, Osborn said. They don’t believe buying a car should be different than any other kind of shopping. And they want the experience to be fun.

Osborn noted it’s important to provide buyers with as much information as possible up front, so customers won’t have to spend five hours in a dealership learning about F&I options.

What They’re Looking ForDespite numerous reports to the

contrary, yes, young people are buying cars, said Scott Painter, CEO and founder of TrueCar. But if you want to sell them one, you’ll have to do it on their terms.

“They are buying cars,” Painter said, “but they are doing it differently. There’s been a definite shift with millennial buyers. And it’s different from 20. years ago. Millennials are rewriting the rules. What used to work even as recently as five years ago, doesn’t work now.”

Dealers looking to sell to millennials have to recognize certain truths, Painter said. First, shoppers are used to getting a lot of information and want to be in control of the sales process. That’s very different from the way dealers used to operate.

In the old days, some dealers hesitated even to give the price of a vehicle. Instead, they would talk about payments and schedules. That tactic doesn’t work anymore.

“Today’s millennial buyers have access to information and expect the cars they buy to work,” Painter said. “A ‘lemon’ of a car is something they see in old movies.”

That means dealers have to buy vehicles that will “intrigue” the millennial buyer, Painter said. Reliability is just assumed, so it’s not much of selling point anymore. Dealers looking to sell to younger buyers have to pay attention to

things like design.And that isn’t all that’s changed.

Conventional wisdom used to be that buyers entered the car market 30. to 60. days before entering a dealership’s showroom. Because buyers now are more social over the Internet, they might start asking advice or reading blogs up to a year before they hit a dealership.

“When we launched Cars Direct in 1998,” Painter said, “only five percent of consumers were using the Internet to help buy a car. That meant when someone did go on the Internet, they were definitely in the market. Now everyone looks at cars online, and a lot of people just do it for fun. Visiting a site doesn’t mean someone is in the market for a car at that particular moment.”

Still, there are ways dealers can tell if someone visiting their website is serious about buying a car now, Painter said.

The first is if that person asks about financing. The second is if that person has totaled his car in an accident – usually that person has an insurance check and needs to buy right away. A third is if the person checking the site starts asking questions about price instead of features and product information.

“Millennial buyers want to know prices before they will show up at your lot,” Painter said. “But when they visit your store, they are much more likely to buy. They’ve done their homework and like what they saw on their smartphone or tablet or computer.”

The fear of millennial buyers is that they will get ripped off by a slick dealer. So dealers must be up front about their prices without giving away the store, Painter said.

“You have to have a competitive price for your vehicles, but dealers also have to be able to make money,” Painter said. “That means dealers must believe in data. Data is what differentiates one used vehicle from another. If a dealer can show, through data, why one Chevy Tahoe costs $50.0. more than another, that assures the customer. The motto of the millennial buyer is, ‘In data we trust.’ ”

Painter said his company quantifies how many of a particular model are for sale. TrueCar goes online, finds all the data on Tahoes for sale and finds out what the mileage ranges and prices are.

Now the dealer can demonstrate with data collected by a neutral party what the price range of a particular vehicle is. The

The Fountain of Youth

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M A R K E T I N G M A T T E R S

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Stewart and his brother and father, both named Don, operate two used-car lots. In addition, Stewart is owner of Social Media Chapter.com, which specializes in helping car dealerships and other small businesses use social media.

“Social media is not just Facebook,” Stewart said. “If you’re going to use social media you have to have people on hand to respond to comments. That’s where we come in.”

What’s important to remember, Stewart said, is that social media is active and interactive. It’s a conversation using new technology. So if someone comments about your dealership on Facebook or another site, you have to be ready to engage in a conversation.

And if you’re using social media to reach out to people, make sure your staff knows what you’re saying. It does no one any good to promise a $15.99 oil change on Facebook and not tell the sales staff. If they don’t know about something, they can’t answer questions about the promotion, such as whether it applies to synthetic oil.

“The biggest problem I see with dealers is that they don’t use social media themselves and actually see it as a distraction,” Stewart said. “They don’t see it as a tool. So they won’t let salespeople visit their Facebook page or make tweets during business hours.”

That’s a mistake, Stewart said. As long as salespeople are following some simple rules, being on a social media site during the day can pay off.

“I say let them go on their social media page,” Stewart said. “As long as they list where they work and what they do, they should be allowed to communicate with people. If someone is looking for a car and is ‘friends’ with a salesperson, that salesperson’s social media page can be very helpful.”

Of course, salespeople must realize their pages are a business tool as well as a personal page, so they shouldn’t post anything that would reflect badly on the dealership.

“Dealers tell me they worry about that,” Stewart said. “I say if they don’t trust the judgment of their staff, then maybe those people shouldn’t be working for them. I also point out that when someone walks into a showroom, usually they find half the sales staff just sitting around.”

Those people could, instead, be online looking for leads.

Stewart said dealers have to realize that while many social media sites are available to users at little to no cost, using social media isn’t free. Someone has to update the pages, read the comments and generally stay on top of things. That person should have some expertise in social media, and dealers should expect to pay for that expertise.

“The biggest mistake I see is that dealers aren’t everywhere that matters,” Stewart said. “Everywhere includes the Internet, but it also includes print and radio and billboards and fliers. Dealers need to create an omnipresence.

“Social media isn’t just Facebook, either. There’s Google listings, Yahoo listings, Bing. These are the new yellow pages and dealers need to understand how they work.”

For example, Stewart said, it’s possible to give a verbal command to a smartphone asking to find a local car dealership. If the dealer is listed right on the search engine and the consumer has the right map app, directions to the dealership will pop right up.

“You must register your business with search engines,” Stewart said. “And don’t be afraid of technology. It’s now possible for people with webcams to converse via the Internet. Looking at someone while you’re talking to them is very effective and builds trust. So check out Skype or Google Live Chat.”

Ultimately, a dealer must lead from the front. If the dealership’s owner doesn’t use or understand social media, it can discourage his employees from using it. And that can ultimately cost him when it comes to attracting young buyers.

Millennials Have ArrivedThe millennial generation is here, and

technology is its language. Young buyers expect information, and they have more ways to get it than ever before.

To turn those young consumers into buyers, dealers have to make that work for them. Provide the information they want on all platforms, become a part of the conversation – give those potential buyers a reason to trust you.

The millennials are just beginning to get into the market, and they’re bringing their smartphones and Facebook pages with them. Dealerships that fail to embrace technology risk missing out on tools that will help them reach out to that growing category of consumers who came of age in the digital era.

BY JIM STICKFORD

customer sees he is being treated fairly and feels better about the sale. Painter warned dealers, though, that having national pricing information shouldn’t be a race to the bottom. Dealers have to make money, and constantly undercutting each other’s prices means no one can make money.

“We used to have an ‘easy’ button on our pages,” Painter said. “Dealers used it to get the lowest prices so they could price lower. No one was making money so we disabled it. But through that process we learned buyers aren’t looking for the absolute lowest prices. They just want a fair deal. By showing data transparently, you don’t have to give away the store.”

The trick, Painter said, is to engage the millennial buyer with transparent data to earn trust. Once a dealer earns trust, making a sale becomes much easier.

SocializingSocial media can be a tool for

marketing and not just a place to write about what you had for dinner.

“Today’s buyer visits all the pages,” Osborn explained. “They are very big on things like ratings and reviews. They are big on referrals.

“Millennials are often first-time buyers and are nervous about buying a car, so word of mouth is very important, and that’s outside a dealer’s advertising plan. So dealers should try to subtly encourage people who enjoyed buying a car from their lot to share their experiences on their Facebook page or to write a review on a site like Yelp.”

Rand Stone, sales manager of Next Gen Motors in Clear Lake, Wis., said his dealership just started its own Facebook page.

“We finally decided it was a tool that could be used for marketing,” Stone said. “I don’t know if I can say someone bought a car here as a direct result of something they saw on Facebook, but it’s exposure and telling people who you are.”

Stone believes Facebook is part of a conversation that gives young people the sense they have their own dealership. He is not afraid of social media and what people will say about the business.

“There are always people who want to tear you down,” Stone said. “On the Internet they are known as trolls. But I am confident that our customers are smart enough sift through the nonsense and see what are genuine reviews and what are not.”

Robert Stewart, co-owner of Stewart Auto Group in Pataskala, Ohio, has some advice for dealers: Don’t be afraid of social media. Embrace it. Use it and encourage employees to use it.

C O N T I N U E D F RO M PAG E 6

“The biggest mistake I see is that dealers aren’t everywhere that matters,” Stewart said. “Everywhere includes the Internet, but it also includes print and radio and billboards and fliers. Dealers need to create an omnipresence.

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A B U S I N E S S P L A N I S E S S E N T I A L T O M A K E S U R E YO U R D E A L E R S H I P I S R E A DY F O R W H AT ’ S A H E A D

Well here you are, almost halfway

through the year. Are you where you thought you would be?

Have you sold as many vehicles, made as much gross profit on each sale

and, most important,

made as much dealership net profit

as you expected?If you have,

congratulations. Now is the perfect time to review what led to your success so you can repeat it. If you haven’t then now is a great time – before it’s too late – to figure out how you plan to reach your sales and net profit goals for the rest of the year.

Didn’t have a plan? If you failed to make a solid business plan for your dealership, including financial goals for yourself and your family for retirement, it’s not too late to finish the year strong and head into 20.14 on the path to financial success.

As the saying goes, “Rarely does a man plan to fail. Typically a man fails to plan.”

Sound familiar?Why do so many independent dealers

fail to plan? While there doesn’t seem to be one particular reason for failing to create a business plan, over the years I have heard many.

“I don’t have the time to plan,” I’m told. Or, “I’m not sure what all goes into a business plan.” Some dealers tell me nobody is going to follow the plan anyway, so what’s the point of having one? And, of course, there is the fear of being held accountable to yourself and your employees.

But a business plan is not an option. It’s a necessity.

In order to make a business plan, it’s helpful to understand exactly what one is.

A business plan is the road you want your company to take to get your company “there” – wherever “there” is for you. It is not something that is written in stone. It’s a document that helps to place checks and balances on yourself to see if you are headed “there”

– in the direction of that place you want your business to be.

It’s a document you should evaluate and review each month. It’s something that helps open your eyes to any necessary changes along the way.

The business plan should identify your company and who leads the company. It should identify what you sell – cars, trucks, specialty vehicles, exotics, wholesale, etc. – and include a flow chart identifying who is responsible for what.

While it might appear to be a rather daunting task, your plan should also identify your market with a brief market analysis, and, of course, it should also include a cash-flow analysis, a sales analysis and, most important, a profit analysis.

It’s amazing how many dealers take the time to project sales and gross but fail to project net profit before taxes. Hey, don’t get me wrong, I think a ton of sales is great. But profit is even better.

A business plan is not just something you write up in order to get money from a bank. That is not what it’s all about, though it is helpful to have on hand just in case you need to get a capital loan when you first get started in business.

No, this is about a business plan that helps you in your day-to-day operations, a document designed to keep you on track toward reaching your business goals and objectives.

What you must remember is a good business plan is a “living” document – it’s something you review regularly, no less than once per month. The business plan you wrote up for the bank when you first opened your doors is most likely a “dead” document – you wrote it for the bank, got the loan you needed, shoved the business plan in a cabinet somewhere and haven’t looked at it since.

Your business plan is not about warm and fuzzy thoughts or idealistic hopes and wishes. The business plan you create needs to have measurable benchmarks.

That, by the way, is one of the advantages NIADA members receive when they join an NIADA 20. Group – being able to measure many areas of their dealership against industry benchmarks as well as their own performance benchmarks. NIADA 20. Group dealers have a composite by which they can compare themselves to themselves as well as to their peers.

It is impossible in this space to cover all of the essential components of a good, living business plan (executive summary,

company description, market analysis and flow chart). To get into the details, your best bet is to become an NIADA Certified Master Dealer – more on that later.

But to give you an idea, we can provide an outline of some of the basic questions that have to be answered in the financial component of your business plan.

•Whatareyouroperatingcapitalneeds? Do you have enough cash on hand to cover at least 2 1/2 months of operating expenses? Don’t forget if you have a service department you’ll need an additional of cash in the amount of at least two weeks of technician pay.

•Whatareyousalesdollarobjectivesforthe year – units sold retail and units sold wholesale, broken down by cars, trucks and others.

•Whatareyourunitsalesobjectivesforthe year, once again broken down by cars and trucks, retail, wholesale and other?

•Whatareyourunitsalesgrossprojections?

•Howmuchaveragegrossprofitareyoumaking compared to your sales dollars generated? Is the percentage too high, preventing you from being competitive? Is it too low, causing you to lose net profit?

•Whatareyourprojectedmonthlyoperating expenses? Do you know what they should be compared to the gross profit generated? There is often a big difference between what your business expenses are and what they should be. Are you keeping 20. percent or 40. percent of your gross profit?

•Theunitsalesgrossprojectionsareimportant when you consider you have the opportunity to calculate your net earning potential if you are aware of your net profit on sales.

•Assumingyouhavecalculatedtheabove with any degree of accuracy, you will need to determine how much inventory you will need to keep on hand in order to achieve your profit and sales objectives.

An element that often gets left out of a business plan is personnel. It’s not enough to project sales, gross profit and net profit objectives for the year. You must also consider whether you have a sufficient number of staff members in the right positions with the right skills and training to help you to reach your objectives.

Simply suggesting each employee will “just need to do more” isn’t the best solution. The living business plan must account for vacations, illnesses, terminations and resignations, as well as needed promotions of employees.

Predict Your Own FutureLONG-RANGE PLANNING

C O N T I N U E D O N PAG E 1 2

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Understaffing of independent dealerships is one of the leading contributing factors for the excuse, “I don’t have time to work a business plan,” or, “I would like to get out of the store and attend more training and educational events but I can’t afford to leave the dealership.” Or worse yet, “I know it’s important to get out of the dealership more and get more involved with my community but I just don’t have the time or energy because it’s just me.”

You might have even told yourself, “I know I need a few more staff members but I just don’t want to increase my payroll.”

It’s sort of that chicken or the egg thing. Do you hire more people to get the job done or wait until you’re really in

need of people as you’re getting the job done?

Many lending institutions require a business plan projection for years one through five, but it can be very difficult to estimate with any hint of accuracy what your business projections are going to look like in five years. If you find that to be a problem, it might be prudent for the time being to begin with a short-term business plan of one year.

Remember, this is a living document. It’s meant to move and change as the market and your business needs change.

If you’re still having trouble getting started, NIADA’s Certified Master Dealer course could be the answer to developing an effective business plan for your dealership. CMD’s learn how to manage their business by the numbers

for sustainable results month after month, year after year.

For ongoing peer-to-peer learning and support you’ll also want to check out the new NIADA Dealer 20. Groups to learn how your colleagues who face the same day-to-day issues manage their dealerships to success.

The next CMD class is coming up this fall, and new 20. Groups are forming right now. For more information on both programs, contact me at [email protected], or NIADA director of education Georgia Brown at 1-80.0.-682-3837 or [email protected].

BY JOE LESCOTAJOE LESCOTA IS DIRECTOR OF DEALER OPERATIONS FOR THE NATIONAL INDEPENDENT AUTOMOBILE DEALERS ASSOCIATION AND INSTRUCTOR FOR NIADA’S CERTIFIED MASTER DEALER PROGRAM. HE CAN BE REACHED AT [email protected].

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MID-ATLANTIC REGIONAL INDEPENDENT DEALERS ASSOCIATIONS (MARIADA) CONFERENCE 2013

SEPTEMBER 27 – 30, 2013

CAESARS ATLANTIC CITY - ATLANTIC CITY, NJ

Come together with dealers and vendors from New Jersey, New York, Pennsylvania, Maryland, Delaware, Ohio and Virginia for education and the latest and greatest information on useful goods and services to help dealerships improve their businesses and better serve their customers.

FOR MORE INFORMATION, CONTACT PAULA FRENDEL, NJIADA AND NYIADA EXECUTIVE DIRECTOR, AT 855-694-2324.

14 | OCTOBER 2012 WWW.PENNSYLVANIAIADA.COM

Speaker Donna Breegle, Auto Use

Speaker Merle Ziegler, CVR

Speaker Mike DeLorenzo, Rent a Wreck

Speaker Tom Kontos, ADESA Analytics

Speakers Michael Jackson & Chris Jackson, Auto Search Technologies

2000 Dealer Drive | Newburgh, NY 12550 | PH: (845) 567-8400

youtube.com/user/manheimny

It’s a Dayat Manheim New York

Sale Wednesdays 9:00 AM• Monthly featuring Heavy Truck & Equipment Sales Boat, RV, & Motorcycle Sales

• Ford Factory Sales Monthly

MANAGEMENTGM Mark Pester

OPPORTUNITIES

SCAN HERETo hear what our

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SPEAKERS AND PRESENTATIONS

Speaker Lou Rendemonti, CLU, CHFC, Devon Financial Partners, LLC

“Great info within

driving distance.”

From left: Speakers, Alan S. Mosher, Constellation Automotive Services and Bill Debreceni, Bollinger, Inc.

Speaker L.J. Marhefka, L.J. King and Associates14 | OCTOBER 2012 WWW.PENNSYLVANIAIADA.COM









Sale Wednesdays 9:00 AM• Monthly featuring Heavy Truck & Equipment Sales Boat, RV, & Motorcycle Sales• Ford Factory Sales Monthly

MANAGEMENTGM Mark PesterOPPORTUNITIES

SCAN HERETo hear what our customers are saying

about theNEW thingsat Manheim New York

IADAs

M A R I A D A

MID-ATLANTIC REGIONAL INDEPENDENT

AUTOMOBILE DEALER ASSOCIATIONS CONFERENCE2 0 1 2

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M A R I A D A 2 0 1 2SPEAKERS AND PRESENTATIONS




From left: Speakers, Alan S. Mosher, Constellation Automotive Services and Bill Debreceni,

Bollinger, Inc.

Speaker L.J. Marhefka, L.J. King and Associates

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14 | OCTOBER 2012 WWW.PENNSYLVANIAIADA.COM









Sale Wednesdays 9:00 AM• Monthly featuring Heavy Truck & Equipment Sales Boat, RV, & Motorcycle Sales

• Ford Factory Sales Monthly

MANAGEMENTGM Mark Pester

OPPORTUNITIES

SCAN HERETo hear what our

customers are saying

about the

NEW things

at Manheim New York

IADAs

M A R I A D A

MID-ATLANTIC REGIONAL INDEPENDENT AUTOMOBILE DEALER ASSOCIATIONS CONFERENCE

2 0 1 2

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M A R I A D A 2 0 1 2

SPEAKERS AND PRESENTATIONS




From left: Speakers, Alan S. Mosher, Constellation Automotive Services and Bill Debreceni, Bollinger, Inc.

Speaker L.J. Marhefka, L.J. King and Associates

Save the Date!

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STAY Automotive Industry News & Special Mont hly Programs

free dealer education 24/7 only on www.niada.tv

Plus

INFORMED!

CONSUMERS RESPOND TO RELIABILITY AND EXTENDED WARRANTIES

Certified pre-owned (CPO) vehicles are more popular than ever, according to a new report from Edmunds.com. The report, which evaluates the landscape of America’s used car market through the first quarter of 20.13, found that CPO sales were up 6.2 percent over the first three months of 20.12, and that the segment’s 21 percent share of all used car sales by franchise dealers in the first quarter of 20.13 was the highest it has ever been.

“Car manufacturers love certified pre-owned programs because they attract new customers, strengthen loyalty and help to move off-lease inventory,” commented Edmunds.com Director of Used Car Analysis Joe Spina. “We can expect even higher levels of CPO sales later this year as dealers absorb a growing influx of lease returns.”

While certified pre-owned cars are generally priced higher than other used cars, they appeal to shoppers because they’re often deemed as more reliable and they come with an extended warranty, which alleviates the buyer’s fear of inheriting someone else’s problems.

Other highlights in the report include:

•Therewere9.7millionusedvehicle sales in the U.S. in the first quarter, down 6.2 percent from the first quarter of 20.12.

•Usedcarretailpricesatfranchise dealerships ($15,793, on average) remained relatively flat, up 0..5% year over year.

•Subaruvehiclessoldfasterat franchise dealerships than any other used car brand in the first quarter; Volvo’s used sales were the slowest.

Edmunds.com expects a typical seasonal price pattern for used cars this year: an increase in the spring, stability through early summer months, and then a decrease thereafter.

To view Edmunds.com’s 20.13 1Q Used Car Market report, visit http://www.edmunds.com/industry-center/data/used-car-market-quarterly-report.html.

For information about NIADA’s certified pre-owned program, visit www.niadacertified.com.

L E G A L U P D A T E

CPO Sales Are Up

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S Manheim auctions, AutoTrader.com, CNA National, Dealer.com and eBizAutos each earned top honors in two categories as Auto Dealer Monthly announced its annual Dealer Choice Awards.

The winners are selected from a nationwide survey of dealers judging industry providers in 27 categories, six of which were new in 20.13. Dealers rated providers on their products or services, customer support and service, value and whether they would recommend the provider to others.

Manheim was named the top traditional auction and online auction, AutoTrader took first among new and used vehicle Internet lead providers, CNA National was voted best in the service contract provider and service contract reinsurance categories, Dealer.com led the way in website design and digital marketing, and eBizAutos won for online inventory management and mobile media.

Other winners included vAuto, which won for the third consecutive year for inventory management; Reynolds and Reynolds, which edged out Dealertrack Technologies in the DMS category; and Digital Air Strike in the new reputation management category.

Five Win Twice in Dealers Choice Awards

The Honda Accord ranked as the most stolen – and most recovered – vehicle in 20.12, according to an annual report compiled by theft recovery system provider LoJack.

The Accord edged out the Honda Civic and the Toyota Camry for the “honor” of being stolen the most, according to the report, which tracks vehicles equipped with LoJack systems.

The report also cited FBI statistics showing a car is stolen every 44 seconds on average, and said the national recovery rate hit a 30.-year low of 52 percent – LoJack boasts a 94 percent recovery rate. The report said the most commonly stolen car color was black and the least common was blue. California, Texas, Florida, New York and New Jersey were the states with the most thefts.

The report is available at www.autotheftblog.com.

Honda Accord Most Stolen Car of 2012

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K E E P I N G Y O U I N F O R M E D W I T H T H E L A T E S T G O V E R N M E N T A L I S S U E S A N D A C T I V I T Y I N T H E U S E D C A R I N D U S T R Y

Here’s a rundown of some of the latest governmental issues and activity affecting the used car industry from NIADA lobbyist Sante Esposito and NIADA regulatory counsel Shaun Petersen.

LEGISLATIVE REPORTH.R. 749, Eliminate Privacy Notice

Confusion ActThis bill, known as H.R. 5817 when

it was introduced by Rep. Blaine Luetkemeyer (R-Mo.) during the last Congress, was passed by the House without amendment on March 12 and has been referred to the Senate Committee on Banking, Housing and Urban Affairs to begin its journey through the Senate.

The bill amends the Gramm-Leach-Bliley Act to exempt from its annual privacy policy notice requirement any financial institution that provides nonpublic personal information only in accordance with specified requirements, and has not changed its policies and practices with

regard to disclosing nonpublic personal information from those noted in the most recent disclosure sent to consumers.

On March 21, Sen. Sherrod Brown (D-Ohio) introduced companion bill S.635, the Privacy Notice Modernization Act of 20.13, with 11 cosponsors, that bill was also referred to the Committee on Banking, Housing, and Urban Affairs.

REGULATORY REPORTConsumer Financial Protection BureauRule on Administration of Civil Penalty

Fund (CPF): The CFPB issued a final rule and proposed revisions to the rule governing the bureau’s CPF. The Dodd-Frank Act established the fund for the CFPB to deposit civil penalties collected in enforcement actions.

The penalties collected are to be used for payments to the victims of activities for which the penalty was imposed. In certain circumstances, the CFPB can use the funds for education and financial literacy

programs. The fund cannot be used for general operating expenses.

The CFPB said because the rule is “interpretative and procedural and relates to benefits,” it becomes effective when it is filed in the Federal Register. But the bureau also said it “believes public input on the final rule would be valuable,” so it is accepting comments, which are due within 60. days of publishing the rule in the Federal Register.

Office of Financial Institutions and Business Liaison: The CFPB announced the creation of a new office to enhance communication and collaboration between bank and nonbank trade associations, businesses and financial institutions. Dan Smith, the former director for industry and state relations for Freddie Mac, has been named the assistant director in charge of the new office.

Supreme Court Review: Though the CFPB is not a party to the case, the government has sought review by the Supreme Court of

NIADA Government Report

C O N T I N U E D O N N E X T PAG E

WASHINGTON UPDATE

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Department of JusticeThe Department of Justice brought

charges against an individual in North Carolina for odometer tampering. The DOJ claims the defendant bought vehicles though online advertisements and replaced the odometers with odometers reading a lower mileage. One of the vehicles subject to the investigation is claimed to have been “rolled back” more than 10.0.,0.0.0. miles.

Pending State LegislationOhio: HB 128 would amend portions of

the salvage motor vehicle laws, specifically allowing the sale of salvage vehicles to

WASHINGTON UPDATE

persons other than motor vehicle salvage dealers.

California: SB 686 would prohibit dealers from selling, renting, loaning or leasing for a term of less than four months any vehicle subject to an open safety recall.

AB 964 would prohibit dealers from advertising a vehicle as certified if there is an open safety recall. The bill would also require dealers to provide a written disclosure document informing the consumer if any of nine specific facts exist, and would require dealers to conduct a vehicle inspection and provide an inspection report of the components inspected.

AB 50.1 would change the definition of a tire broker to exclude a vehicle dealer or other retailer primarily engaged in the retail sale, service and installation of tires.

Case Law UpdatesA California appeals court upheld a

preprinted arbitration provision in a sales contract. The consumer claimed he had not read nor was he aware of the arbitration provision, thus making the provision unconscionable. The court rejected the claim, highlighting the fact that there was a provision, in all caps, above his signature that alerted him to the arbitration provision along with the fact that preprinted arbitration provisions are standard in the industry.

the decision in Noel Canning v. NLRB, in which the D.C. Circuit Court of Appeals declared the President’s appointments of members to the National Labor Relations Board to be unconstitutional because the Senate was in session.

That is significant because Richard Cordray was appointed director of the CFPB at the same time the NLRB members were appointed. If the Supreme Court affirms the Canning decision, it could have impact on Cordray’s appointment.

Internal Revenue Service Emergency extensions: The tax filing

deadline for residents of Suffolk County, Mass., was extended by three months after the Boston Marathon bombing. Residents automatically receive the extension, and taxpayers outside Suffolk County whose tax preparer lives in Suffolk can also qualify for an extension by calling 1-866-562-5277.

In addition, taxpayers in the South and Midwest affected by a severe storm near the April 15 filing deadline can qualify for late payment penalty relief if they can show reasonable cause why they were unable to file their taxes by the deadline. Taxpayers in the affected areas who receive penalty notices should contact the IRS.

In addition, taxpayers in the South and Midwest affected by a severe storm near the April 15 filing deadline can qualify for late payment penalty relief if they can show reasonable cause why they were unable to file their taxes by the deadline.

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N . J . M O T O R V E H I C L E C O M M I S S I O N A N N O U N C E S N E W F U N C T I O N O N E T E M P TAG SYS T E M .

A new function is now available that allows dealers to replace lost or stolen temporary registration plates (temp tags), the New Jersey Motor Vehicle Commission announced.

When a temp tag is lost or stolen, the vehicle owner must report the incident to law enforcement. The owner will then be able to bring the police report to the dealer that issued the temp tag and obtain a replacement.

The replacement temp tag will contain all of the same information contained on the lost or stolen temp tag except for the temp tag number.

When generating the replacement, the issuing dealer must enter the jurisdiction in which the police report was filed and the reference number that appears on the police report into the eTemp Tag system.

The status of the lost or stolen temp tag will automatically be changed to

“voided.” No fee will be charged if the replacement temp tag is generated within 24 hours of the issuance of the lost or stolen temp tag.

A replacement temp tag can be reprinted. No fee will be charged if the replacement temp tag is reprinted within 24 hours of its issuance.

A second resident temp tag can still be issued if the original resident temp tag was lost or stolen and a replacement temp tag was issued. Please note the standard New Jersey regulatory restrictions concerning the issuance of a second resident temp tag still apply.

A copy of the police report must remain on file with the dealer for a minimum of three years and must be produced upon the request of the New Jersey Motor Vehicle Commission.

For more information, call (609) 292-6500 ext. 5014.

Replace Lost or Stolen Tags Electronically

COMPLIANCE CORNER

The FTC released revised dot-com disclosure guidelines to assist companies in making clear and conspicuous disclosures in online or mobile advertising.

The disclosures make it clear that consumer protection regulations apply across all media used by marketers to reach consumers.

According to the guidelines, if a proper disclosure cannot be made using a particular medium, that medium should not be used. The FTC also said that in order for disclosures to be clear and conspicuous to the consumer, they must be as close as possible to the relevant claim. And advertisers are told hyperlinks should not be used for disclosures that involve product costs or certain safety issues.

A copy of the guidelines can be found at: http://www.ftc.gov/os/2013/03/130312dotcomdisclosures.pdf.

COMPLIANCE CORNER

FTC Releases Dot-Com Disclosure Guidelines

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25 $22.50 $25.00 50 $38.70 $43.00 100 $70.20 $78.00 200 $123.30 $137.00 500 $270.00 $300.00 1000 $495.00 $550.00

New Jersey Independent Automobile Dealers Association ∙ 115 Franklin Turnpike, Mahwah, NJ 07430 ∙ www.NewJerseyIADA.org ∙ (855) 694-2324

Approved by the New Jersey Motor Vehicle Commission (NJMVC), the New Jersey Independent Automobile Dealers Association (NJIADA) has available for purchase the paper that meets all specifications of the NJMVC and NIC, the eTemp Tag vendor. To place an order, please complete the form below and return to NJIADA by fax to (201) 581-0226 or email to [email protected]. Prices do not include sales tax or shipping. Contact us to become a NJIADA Member on NewJerseyIADA.org or call (855) 694-2324.

SHIP TO: Street______________________________________________ City___________________________________State ___________ Zip Code________________________

ORDERED BY:____________________________________________________

_______________________________________________________________________

DEALERSHIP:_____________________________________________________

_______________________________________________________________________

5-digit Dealer ID (MVC Requirement):_____________________________________

PAYMENT INFORMATION: C i rc le one: V ISA MASTERCARD PAYPAL AMERICAN EXPRESS

Credit Card # __________________________________________________ Exp. Date (Month/Year): ____/____ Cardholder Name: _______________________

Credit Card Billing Address: [ ] Same as Shipping Address

Street_____________________________________________________ City______________________________________State _________Zip Code_________________

Receipt (e -mai l or fax) : ___________________________________________________________________________________________________________________________________

I AM AN AUTHORIZED USER OF THE ABOVE MENTIONED CREDIT CARD AND NJIADA IS AUTHORIZED TO CHARGE THIS CARD THE TOTAL AMOUNT DUE.

CARDHOLDER SIGNATURE: _____________________________________________________________ DATE: ________________________________________

NJIADA eTemp Tag Paper – TTPQuantity Price NJIADA Member Price - Non-memberN . J . M O T O R V E H I C L E C O M M I S S I O N A N N O U N C E S N E W F U N C T I O N O N E T E M P TAG SYS T E M .

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T H E WO R L D M OV E S FA S T E R E V E RY DAY. A R E YO U R E A DY F O R W H AT T O M O R R OW B R I N G S ?

As many state legislative sessions wrap up at midyear, lenders and dealers must begin watching for legislative summaries – and maybe new legislation and requirements that will be taking effect soon.

Facing a regulatory landscape that continually seems to move faster and grow in complexity, dealers must be even more vigilant in making sure laws and regulations are being embedded within their business.

In some cases, the laws and regulations tell us exactly what needs to be done. For example, a disclosure using specific words in a specific type size must be given to consumers at a specific time. But in other areas, the laws and regulations require dealers to create and follow reasonable practices based on their unique business conditions.

Those types of requirements can be challenging to meet because they evolve as your business and the industry changes. Certain areas, though, deserve continual focus, including regular reviews of policies, procedures and processes.

Information/Data SecuritySome of the most obvious risks for

dealerships are related to information and data security. Dealers must view identity theft as an accident that’s always waiting to happen because of the various types of personal and financial information they manage for their customers.

Hundreds of people can walk through dealers’ sales floors, which in many cases are open, with some sales desks located in the showroom. Is your staff diligent about making sure sensitive customer information isn’t left sitting out on a desk or up on a computer screen so anyone walking by can view it? Is anyone within earshot when a potential customer is verbally providing personal information?

That includes not only dealership visitors, but also employees who should not have access to specific data.

In short, your information security program needs to start on the sales lot and in the showroom.

Your Red Flags program should already address potential security risks, at least as they relate to potential identify theft. The Red Flags Rule

requires each dealer to have a program designed to detect, prevent and mitigate identity theft in connection with opening or maintaining an account involving an extension of credit.

Reasonable program activities will evolve as technology and business practices change and as identity theft techniques and vulnerabilities change. So compliance with the Red Flags Rule will always be an evolving standard.

Make sure you have data security and ID theft programs and policies. Make sure you follow them. And make sure you regularly review and update them – even if there isn’t a law or regulation change reminding you to do so.

Employee SecurityAlong those same lines, dealers need to

be mindful of processes related to employee security. It must be clearly defined which employees have access to what.

In your dealership, are F&I files password-protected so only certain employees can access them? Sales team members might need limited access to information to determine a potential buyer’s creditworthiness, but does the receptionist really need access to the same information and tools? Are there clear parameters for who has access to different types of information? Are those policies communicated and understood among employees?

Employee security also involves background checks and other operational issues related to hiring and firing employees.

Dealerships should use background checks in their hiring process in addition to checking references and other representations a candidate provides. Be thorough. For example, instead of just doing a criminal record check for the county where the applicant lives or the dealership is located, consider expanding it to the entire state. You should also review states of prior residence for the past several years.

Remember to re-run background checks (or at least the criminal background check) periodically to note any changes. If an employee is arrested after employment begins, he or she might not tell you about it. If you don’t re-run criminal background checks, how will you find out an existing employee was convicted of misdemeanor shoplifting or DWI (with suspension of driver’s license)?

Depending on the employee’s role, that might be critical employment-related information.

Content SecurityWhile the risks mentioned so far might

seem somewhat obvious, other risks are more subtle, such as access to template documentation. Though blank standard documentation might not contain personal information about customers, they could present opportunities for criminals.

For example, even without access to customer personal data, a thief might be able to create fraudulent transactions if he or she has access to preprinted retail sales contracts or the software that generates them. Dealers should consider restricting access to blank standard documents even though they don’t contain personal customer data.

Information RetentionA critical area of focus for customer

personal information is protecting it at the time it’s provided by credit applicants and the points the information is transmitted to others as part of the credit analysis process. But dealers also need to focus on their retention of that information during the credit processing period and afterward.

Red Flags programs should include procedures to protect personal information during and after the credit process and transaction closing. Protecting that information long after the sale requires as much vigilance as the protection you provide during the credit processing phase.

All of this reminds us some compliance requirements evolve with changing business practices and technologies. It’s important to regularly review compliance efforts for these kinds of requirements even if they aren’t revised by law or regulation changes this year.

The theme of this year’s NIADA Convention and Expo is “New Strategies for Tomorrow.” The world moves faster every day. Are you ready for what tomorrow brings? Knowing your dealership is continually working to mitigate business and compliance risks can bring peace of mind when considering your own preparedness.

BY CHIP ZYVOLOSKICHIP ZYVOLOSKI IS A SENIOR ATTORNEY FOR INDIRECT LENDING AT WOLTERS KLUWER FINANCIAL SERVICES. FOR MORE INFORMATION, VISIT WWW.WOLTERSKLUWERFS.COM/INDIRECT.

COMPLIANCE OVERDRIVE

Is it Time to Review Your Dealership’s Compliance Practices?

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