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

SPONSORED BY
Click Here
NADA.org
Wednesday, June 24, 2009 RSSSEND TO A FRIENDPRINT
nada.orgAdvocacyAffiliates | Convention | Jobs | Programs | Publications | Services | Training
Top Stories
NADA to Members: Ask Lawmakers to Co-Sponsor Dealer Rights Bill
'Cash-For-Clunkers' Web Sites May Mislead, Agency Warns
Car Dealers Hope Rebate Program, Sales Tax Break Will Attract Customers
GM Says Dealer Changes Complete
Hyundai Says It Will Be First to Meet New Fuel-Economy Rules
Nissan, Ford Plan Electric Push Aided by U.S.; Demand Is Uncertain
Chrysler, GM Seek U.S. Retooling Loans
GM Will Cut 4,000 Salaried Workers
Top Stories
NADA to Members: Ask Lawmakers to Co-Sponsor Dealer Rights Bill

With Members of Congress returning to their home districts starting June 27 for a one week recess, dealers are strongly urged to ask their House and Senate members to co-sponsor H.R. 2743 and S. 1304, the “Automobile Dealer Restoration Rights Act.”  NADA's legislative office is urging dealers to make the case to their congressional members about the value they bring to the community, and why it matters that dealers have the protection of state franchise laws. H.R. 2743, with 185 cosponsors, and the recently introduced S. 1304, intend to restore dealers’ rights under state franchise laws. This legislation is critical not just for GM and Chrysler dealers who have seen their franchise law protections trampled in bankruptcy, but is important for all dealers to ensure that their rights under state franchise laws are not disregarded. For more information, visit www.NADA.org/legislativeaffairs.
Source: NADA Newswire

[back to top]

'Cash-For-Clunkers' Web Sites May Mislead, Agency Warns

The U.S. agency set to administer the automobile “cash-for-clunkers” program is telling consumers they don’t need a Web site’s clearance to participate. One Web site purports to offer pre-approval for the program, which is unnecessary, a U.S. traffic official said. “It’s a disservice for someone to put a Web site out there that implies things are necessary to participate in the program when in fact that isn’t true,” said Rae Tyson, a spokesman for the National Highway Traffic Safety Administration. The agency has the official Web site cars.gov to provide information about the program.
Source: Bloomberg

Editor's Note: The President is expected to sign the Cash for Clunkers bill into law today. However, the Department of Transportation (DOT) still has to develop the regulations for the program. Therefore, it will be at least 30 days until dealers and customers can actually participate in the program. Dealers are cautioned that any “clunkers” transactions completed before the DOT publishes the program’s rules may not qualify for reimbursement. Over the next several weeks, NADA will be reaching out to dealers with more information on how to register and participate in the program. When enough information is available, NADA will conduct a series of webinars to educate dealers on how the program works and how to comply with its rules. In the meantime, NADA is working closely with the DOT as the rules for the clunkers program are created.

[back to top]

Car Dealers Hope Rebate Program, Sales Tax Break Will Attract Customers

Congress created a "cash for clunkers" program last week as part of a military spending bill that President Barack Obama is expected to sign. Under the program, you could get $3,500 or $4,500 for giving up your old vehicle to the scrap heap and buying or leasing a new vehicle that's fuel efficient. "We think it's going to help us sell some cars," says Tom Cook, sales manager at Anderson Automotive in Baltimore.
Source: The Baltimore Sun

[back to top]

GM Says Dealer Changes Complete

In news that should come as a relief to worried members of Congress, a GM executive has informed dealers that the carmaker sees “no need” to order the closure of additional dealerships. Lawmakers remain concerned, but are beginning to take note of the progress. Sen. Kay Bailey Hutchinson, (R-Tex.), who has been one of the most vocal senators on the issue, said last week: “I … commend Chrysler for heeding the calls of members of Congress and the dealer community and responding in a way that does give additional support to the dealers.”
Source: Politico

[back to top]

Hyundai Says It Will Be First to Meet New Fuel-Economy Rules

Hyundai Motor Co., South Korea’s largest carmaker, plans to be the first in the U.S. to meet stricter fuel-economy rules set by the Obama administration, John Krafcik, Hyundai’s U.S. chief executive, said. The government last month announced modified rules to push automakers to cut greenhouse gas emissions and boost fuel-efficiency to an average of 35.5 miles per gallon by 2015. “We’re going to hit it ahead of everyone; that is the current plan,” said Krafcik, president of Seoul-based Hyundai’s U.S. unit, in an interview in New York yesterday. “We have a plan to be the number one brand in fuel efficiency.”
Source: Bloomberg

[back to top]

Nissan, Ford Plan Electric Push Aided by U.S.; Demand Is Uncertain

Spurred by billions of dollars in new government aid, car makers are racing to deliver battery-powered vehicles to the mass market -- although whether enough consumers are interested in electric cars remains untested. Electric cars tend to be smaller than the roomy models U.S. buyers favor. Until now, electric cars have been marketed as a costly niche product. Nissan wants to be the first with a mass-market one by charging an affordable price.
Source: The Wall Street Journal

[back to top]

Chrysler, GM Seek U.S. Retooling Loans

Energy officials in talks with carmakers
U.S. Department of Energy Secretary Steven Chu said Tuesday that his department is in discussions with General Motors Corp. and Chrysler about their applications for a $25-billion retooling loan program intended to spur fuel-efficient vehicle production. To qualify, a company must manufacture vehicles in the United States and be viable -- a condition that, at least initially, made Chrysler and General Motors Corp. ineligible.
Source: Detroit Free Press

[back to top]

GM Will Cut 4,000 Salaried Workers

General Motors Corp. started providing details to salaried and executive employees Tuesday about severance and early retirement offers as the automaker moves to cut about 4,000 jobs by Oct. 1. Most of the job cuts will hit workers in southeastern Michigan, which is already reeling from pending GM factory closures and the blue-collar jobs that will be lost. GM started the year with 29,650 white-collar workers and wants to have 23,500 at the end of 2009, GM spokesman Tom Wilkinson said.
Source: The Detroit News

[back to top]

 
Video Highlights
 

Media Coverage: The Tragedy of Dealer Closings (NADA-TV)


NADA's New Buy Now PSA, 'No Kidding'



No Dent in Demand for Some U.S. Cars (NBC)



Car Dealers Trying to Buy More Time (NBC)



Fighting the Dealers' Fight (CNBC)



Cutting Dealers a Mistake (Fox Business Network)



Vice Chairman Tonkin on Chrysler Closures (Bloomberg)



Should Government Decide Dealers' Fate? (CNBC)



The Case Against Closing Dealerships (CNBC)



In-Depth Look - Pent Up Auto Demand (Bloomberg)



NADA on Floorplan Credit Crisis (NADA-TV)


John McEleney's Testimony to Senate Committee (CNBC)
 Senate Testimony on Floorplan Loans (NADA-TV)
 Banks Turning on American Car Dealers? (WTNH-TV)
 NADA Tackles Industry Crisis (NADA-TV)
 McEleney Speaks at NADA Convention (NADA-TV)
 Demise of Dealerships Leaves Big Dent (NBC)
NADA on the Front Lines  (NADA-TV)


Click here for more video reports.

 


Orlando 2010 - Go to Know

Save $405 on HP 's Z400 Workstation with Monitor

 

Click Here

Search Back Issues | Unsubscribe | Subscribe | 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.