For optimal viewing through your web browser or PDA, click here.

SPONSORED BY
 
NADA.org
Tuesday, Sept. 30, 2008 RSSSEND TO A FRIENDPRINT
Home | AdvocacyAffiliates | Convention | Jobs | Programs | Publications | Training | Services
At a Glance...
Top Stories
Carmakers Wince as Bailout Fails
Candidates, Bush Urge Reviving Financial Bailout
Toyota Leads Biggest Drop in Vehicle Output in Decade
Sales of Souped-Up Pickups Slow
Behind on Hybrids, Hyundai Sets High Goals
Car Dealers Learning Art of Viral Video
NADA Update
Time is Running Out for NADA-SEMA Dealer Day Registration
ALERT: Be Sure to Work with NADA-Approved Convention Vendors
Two New Legal Compliance Publications Now Available Online
STAR Answers Dealers' Questions About Internet Access Methods
Save Up to $760 on Select ThinkPad Notebooks
Top Stories
Carmakers Wince as Bailout Fails

Worries spread that if credit markets stay tight, fewer buyers will get car loans and sales will dive.
WASHINGTON -- Automakers and legislators warned Monday that the auto financing market was in danger of collapsing after a $700 billion Wall Street bailout package failed to pass the U.S. House. The bill, which included language broad enough to allow the Treasury Department to buy distressed auto loans, could have helped car dealers in Michigan and across the country who are already struggling amid one of the worst auto markets in history, as well as consumers, who have seen access to auto loans tighten significantly. Rep. John Dingell, D-[Mich.], chairman of the House Energy and Commerce Committee, said the bill would have ensured access to credit for auto finance companies. "The credit crisis is already having an impact on the automobile industry that is so important to my constituents in Michigan, and to hundreds of thousands of families around the country," Dingell said. "If access to credit continues to dry up, the automobile financing companies will be unable to keep vehicles on dealership lots and help customers obtain financing."
Source:  The Detroit News

[back to top]

Candidates, Bush Urge Reviving Financial Bailout

WASHINGTON -- President Bush warned that failure to move now would inflict "painful and lasting damage" to the economy. "Congress must act," Bush demanded in brief comments at the White House. He said his administration would work with congressional leaders to get the defeated $700 billion relief package back on track. The House voted 228-205 Monday against the bill designed to rescue the nation's financial system. That triggered the biggest one-day sell-off on Wall Street since the 2001 attacks, as the Dow Jones industrial plummeted by 778 points. Bush noted that the maximum $700 billion in the proposed bailout was huge, but was dwarfed by the $1 trillion in lost wealth that resulted from Monday's stock-market plunge. He also said the actual cost to the taxpayers should be much less ultimately, arguing that once markets recover, assets likely will gain value over time. [Bush] said this was a critical moment for the U.S. economy. "And we need legislation that decisively addresses the troubled assets now clogging the financial system, helps lenders resume the flow of credit to consumers and businesses, and allows the American economy to get moving again."
Source:  Associated Press

[back to top]

Toyota Leads Biggest Drop in Vehicle Output in Decade

Toyota Motor Corp. and Honda Motor Co., Japan's two largest carmakers, led the biggest drop in monthly domestic production in more than a decade after exports to the U.S. declined. Output by the country's 12 automakers fell 11 percent to 769,829 vehicles in August from a year earlier, the Japan Automobile Manufacturers Association said in a statement today. That's the largest decline since May 1998. Exports fell for the first time in three years by 2.2 percent to 496,735 vehicles. Japanese automakers cut shipments to the U.S. by 20 percent last month, the most in almost five years, as demand fell because of a tighter credit market and gasoline near $4 a gallon.
Source:  Bloomberg

[back to top]

Sales of Souped-Up Pickups Slow

Plush pickups, decked out with heated seats, leather interiors and DVD players, used to be in demand by legions of consumers who never needed the trucks to haul lumber or build homes. But those buyers -- and the high prices they were willing to pay for a souped-up Chevrolet Silverado or Ford F-150 -- are vanishing as soaring fuel prices hurt one of the U.S. auto industry's most lucrative segments. And auto makers don't expect them to return anytime soon. "What the segment is going to be left with is the hard-core buyer who's in the market for a workhorse pickup," said Joseph Barker, senior manager of North American vehicle sales forecasts for CSM Worldwide. "The construction worker, the plumber -- these are the folks who need pickups, but they don't need navigation systems and leather seats."
Source:  The Wall Street Journal (Subscription required.)

[back to top]

Behind on Hybrids, Hyundai Sets High Goals

SEOUL — Hyundai Motor Co. is a latecomer to the hybrid-vehicle race, but the Korean automaker is setting high targets for the technology as it chases Toyota and Honda. Hyundai is scheduled to sell its first U.S. hybrid, a version of its mid-sized Sonata sedan, in 2010. Initial annual volume is expected to be around 50,000 units. But Hyundai expects its annual hybrid sales to balloon to 500,000 units worldwide by 2018, says Brandon Yea, senior vice president for marketing. That still puts Hyundai behind the forecasts of its two Japanese rivals but it at least puts it into the same arena.
Source:  Automotive News (Subscription required.)

[back to top]

Car Dealers Learning Art of Viral Video

Howard Polirer, director-industry relations for AutoTrader.com, estimated that 25 percent of all U.S. dealers now use online video. That figure is nothing to sneeze at, considering there are 20,800 new-car dealers in the U.S. that spent more than $7.8 billion in advertising last year, according to the National Automobile Dealers Association. It may also come as a revelation to some, given that car dealers are still portrayed by some agencies and automotive marketers as being interested only in “move the metal” TV commercials, rather than the broad array of digital tools they can deploy today. “Video is exploding,” said Larry Pryg, national marketing and ad manager for General Motors’ certified-used-auto business, largely because it can be created inexpensively (some videos cost less than $100) and quickly and be easily measured. Moreover, Pryg said when it comes to used cars, Web sites with video are twice as likely to generate calls or e-mails from shoppers to dealers than ones without. For the most part, auto dealers are running video on their own sites. The videos generally consist of customer testimonials or personal introductions from the dealers, and showcase new or used models. Some repurpose TV spots.
Source:  Automotive News (Subscription required.)

[back to top]

NADA Update
Time is Running Out for NADA-SEMA Dealer Day Registration

Pre-registration for the inaugural NADA-SEMA "Dealer Day" program has been extended until Friday, Oct. 3. The event is being held in conjunction with the 2008 SEMA Show on Nov. 5 from 11 a.m. to 7 p.m. at the Las Vegas Convention Center. It will include a lively and informative panel discussion on four highly effective accessory sales profit models, a luncheon and four roundtable discussion lead by industry experts. A "Dealer Day" reception sponsored by NADA, SEMA and Automotive News will cap off the day.

Dealers can also take part in an optional SEMA Show tour from 8:45 to 10:45 a.m. The tour will depart from the Harley-Davidson store, located in the North Hall Lobby. Pre-registration is required for this event. To register visit www.sema.org/DealerDayReg or call (909) 396-0289 Ext. 158.

[back to top]

ALERT: Be Sure to Work with NADA-Approved Convention Vendors

Both exhibitors and attendees planning to attend the 2009 NADA Convention & Exposition in New Orleans may receive email solicitations, phone calls, direct mail or other forms of communications from vendors and contractors claiming to be endorsed or approved by NADA, which many are not. Be on the lookout for these types of solicitations.

HERE IS A LIST OF OFFICIAL NADA VENDORS AND CONTRACTORS:              

  • Freeman (Service Contractor)
  • PSAV Presentation Services (Audio/Visual)
  • CCR Events (Computer Rental)
  • National Plant & Floral, Inc.
  • Experient (Lead Retrieval)
  • HMI – Holiday Models, Inc.
  • Oscar Einzig (Photography)
  • Marshall Robinson & Associates (Security)
  • Experient (Housing – Exhibitor & Attendee)
  • NADA's AutoExec Department (Advertising/Sponsorships)

Please use caution when dealing with any solicitations from companies that are not on this list. Contact NADA conventions at (703) 821-7141 if you have any questions.

[back to top]

Two New Legal Compliance Publications Now Available Online

NADA has finalized two new publications aimed at helping dealers comply with several new federal legal requirements. All members will receive a free printed copy of A Dealer Guide to the FTC Affiliate Marketing Rule (L51) and Electronic Disclosure Rules for Dealership Online Commerce (L52) via mail. However, because the Oct. 1 compliance deadline for each of these new rules is approaching, NADA Management Education is making these two publications available immediately, in PDF form, free to members upon request.

The FTC’s Affiliate Marketing Rule specifies when certain credit-related information received from a company’s affiliates may be used for marketing purposes. The guide covering this new rule defines key terms, explains the new rule’s relationship to existing information-sharing restrictions under the Fair Credit Reporting Act, and provides examples of the notices required under the new rule.

The Federal Reserve Board’s Electronic Disclosure Rules affect dealers who currently engage in certain online activities (such as advertising leases online, advertising credit online, or providing access to/accepting online credit applications), or envision doing so in the future. This publication explains the rules, discusses amendments to certain regulations—including Regulations B, M, and Z—and provides context and compliance considerations.

Members may obtain a free PDF copy of each publication by sending an email to me@nada.org with their requests and member identification numbers.

[back to top]

STAR Answers Dealers' Questions About Internet Access Methods

 

Standards for Technology in Automotive Retail (STAR) has developed new guidelines to to help dealers evaluate their Internet Access Methods. Visit STAR's Dealer Infrastructure Guidelines (DIG) publication for more information. To answer the question "How do I make sure I get a business-grade connection?" click here.

[back to top]

Save Up to $760 on Select ThinkPad Notebooks

NADA members can save in three ways:

  • Instant savings with discounted Web pricing
  • Save even more with your NADA discount
  • Enter eCoupon USXFALLSAVINGS at checkout

To take advantage of this offer, visit www.nada.org/Technology/PCPurchaseProgram/ (member login required), click www.lenovo.com/shop/deals/nada, then click "Special Offers," or call (800) 426-7235, Option 1, Ext. 4838. Enter eCoupon USXFALLSAVINGS at checkout. Free ground shipping is available on all Web orders.

[back to top]

 
Featured Video
 
 
NADA-TV Reports on the Launch of the 'Green Checkup' Campaign. Pictured above is NADA Chairman Annette Sykora with Colorado Gov. Bill Ritter at a news conference in Denver.


More Video Highlights

Quotable
 
"The credit crisis is already having an impact on the automobile industry that is so important to ... hundreds of thousands of families around the country. If access to credit continues to dry up, the automobile financing companies will be unable to keep vehicles on dealership lots and help customers obtain financing."

   
-- Rep. John Dingell, D-Mich., responding to the failure of the bailout package in the House, The Detroit News, Sept. 29


"What the [pickup] segment is going to be left with is the hard-core buyer who's in the market for a workhorse pickup."

    -- Joseph Barker, senior manager of North American vehicle sales forecasts for CSM Worldwide, sharing what most analysts believe will be the end result of the slowing pickup market, The Wall Street Journal, Sept. 30


"[Online] video is exploding" largely because it can be created inexpensively (some videos cost less than $100) and quickly and be easily measured.

    -- Larry Pryg, national marketing and ad manager for General Motors' certified-used-auto business, Automotive News, Sept. 29
Video Highlights
 
  
Registration for the NADA convention in New Orleans Jan. 24-27 is now open. Click here to see just how much progress New Orleans has made since Katrina.


NADA's New Orleans Project: Lusher Charter School
NADA's Return to New Orleans
NADA and 'SeeMore's Playhouse' Promote Child Passenger Safety Month in September


Click here for more NADA-TV reports.

 
Search Back Issues | Unsubscribe/Manage your subscription | email us
NADA For more information on NADA, visit www.nada.org or contact NADA, 8400 Westpark Drive, McLean, VA 22102. This email may contain an advertisement of NADA products and services. Any opinions or statements contained herein do not necessarily reflect the views of NADA. Factual errors are the responsibility of the listed publication. If you are a franchised new-car or -truck dealer and would like to become a member of NADA, please visit the Join NADA section of www.nada.org. Questions or comments concerning NADA Headlines content may be directed to media@nada.org.