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

NADA.org
Tuesday, July 14, 2009 RSSSEND TO A FRIENDPRINT
nada.orgAdvocacyAffiliates | Convention | Jobs | Programs | Publications | Services | Training
Top Stories
Hundreds of Auto Dealers Rally on Capitol Hill Today to Restore Dealer Rights
Ron Bloom to Replace Steve Rattner as Car Czar
U.S. Retail Sales Rise, Reflecting Autos and Gasoline
SBA Expecting 'Ramp-up Period' for Automobile Dealer Loans
Big 3's Heaviest Debt Load Now Falls on Ford
Chrysler Resale Value Increases
NADART Announces Its New Vice President
North Miami Lexus Dealer Piles on the Perks
Top Stories
Hundreds of Auto Dealers Rally on Capitol Hill Today to Restore Dealer Rights

WASHINGTON – Nearly 200 auto dealers from across the country joined senior Members of Congress at a press conference today on Capitol Hill to call for the immediate passage of a bill that would restore the economic rights of dealers trampled during the bankruptcy proceedings of General Motors and Chrysler.

The Automobile Dealer Economic Rights Restoration Act, H.R. 2743, introduced by Rep. Dan Maffei, D-N.Y., currently has 242 co-sponsors. Reps. Chris Van Hollen, D-Md.; Roscoe Bartlett, R-Md.; and Frank Kratovil, D-Md., are all expected to attend today’s press event. A companion bill, S. 1304, which was introduced by Sen. Charles Grassley, R-Iowa, now has 20 co-sponsors.

NADA Chairman John McEleney, appearing Friday on the Fox Business Network, said “NADA is still concerned about the trampling of state franchise laws” that occurred when Chrysler and GM dealers were terminated, especially Chrysler dealers “who were given no appeal process and no compensation.”

“We’re still looking for legislative relief to protect the state franchise laws that exist in all 50 states. And we’re making some progress,” McEleney said. “There seems to be a lot of support in Congress for that and for dealers in every community.”

In a separate interview, NADA Treasurer Carroll Smith, in Washington today to lobby Congress, reinforced the need to restore dealer rights under state franchise laws.

NADA’s legislative office is urging dealers to contact their Members of Congress. Ask them to co-sponsor H.R. 2743/S. 1304 and support legislative efforts to restore dealer rights. Lawmakers can be reached through the Capitol switchboard at (202) 224-3121. Click here for a list of current co-sponsors.
Source: NADA Newswire

[back to top]

Ron Bloom to Replace Steve Rattner as Car Czar

Steve Rattner, the former New York investment banker who had overseen President Obama’s auto task force, is leaving his post and will be replaced by Ron Bloom, a former union official. An administration official said Rattner was leaving on his own. “He determined that this was the right decision for him and his family at this time,” said the administration official.
Source: Politico

[back to top]

U.S. Retail Sales Rise, Reflecting Autos and Gasoline

Sales at U.S. retailers rose in June, helped by incentives at car dealers and higher gasoline prices that boosted service-station receipts. The 0.6 percent increase was larger than forecast and the biggest gain since January, Commerce Department figures showed today in Washington. Sales at automobile dealerships and parts stores climbed 2.3 percent, the most since January.
Source: Bloomberg

[back to top]

SBA Expecting 'Ramp-up Period' for Automobile Dealer Loans

The Small Business Administration began accepting applications from automobile dealers July 1 for loans that will enable them to finance their inventories. It’s unclear, however, how many auto dealers will be able to take advantage of the SBA’s loans. [Eric Zarnikow, associate administrator for the SBA’s Office of Capital Access] said the SBA expects there will be a “ramp-up period” before it starts receiving a lot of floor plan loan requests.
Source: Austin Business Journal (Austin, Texas)

[back to top]

Big 3's Heaviest Debt Load Now Falls on Ford

GM ready for market rivalry
Ford Motor Co. has benefited for months from the woes of its bailed-out Detroit brother General Motors Corp., but GM's emergence from bankruptcy - freed from its heaviest debts - now puts debt-laden Ford at a disadvantage. "By cleaning up its two U.S. rivals, Uncle Sam has put Ford at a competitive disadvantage," [said Antony Currie, an analyst at Breakingviews.com.]
Source: The Washington Times

[back to top]

Chrysler Resale Value Increases

Leaner, more viable carmaker emerges
The company still has a long way to go to get competitive. Scars of 789 terminated dealerships remain fresh, and Chrysler sales for the first half of the year are down nearly 46%. But suspending production for nearly two months and giving priority to retail sales rather than discounted deals with rental companies are beginning to pay dividends.
Source: Detroit Free Press

[back to top]

NADART Announces Its New Vice President

MCLEAN, Va. -- NADA Retirement Administrators, Inc. (NADART) has named Betsy Piper/Bach as its new vice president. She replaces Philip Holland, who retired in June after 33 years of service with the company. Previously, she was president of Cardinal Trust and Investment Services at Cardinal Bank, which is NADART’s trustee. In that capacity, she worked closely with NADART’s board of directors and was involved with many of its day-to-day operations.
Source: Business Wire

[back to top]

North Miami Lexus Dealer Piles on the Perks

A North Miami luxury car dealer aims to entice customers with what may be the most expensive dealership ever built in South Florida.
Haircuts, manicures, workout sessions -- even boutique shopping -- are available at the country's largest Lexus store under a single roof. The unexpected amenities are designed to entice customers into the showroom at a time when the car market faces the most difficult challenges in a quarter-century. "In tough times, you need even more drawing power from the dealership," [said Paul Taylor, chief economist with the National Automobile Dealers Association.] "The costs are high but in the long term they should pay off."
Source: The Miami Herald

[back to top]

 
Quotable
 
"We’re still looking for legislative relief to protect the state franchise laws that exist in all 50 states. And we’re making some progress."

    -- NADA Chairman John McEleney, appearing Friday on the Fox Business Network


"We are seeing the fruits of our labor in Europe and the U.S. and Canada, and we are starting to see it in Asia. But it is just the beginning of the story. We have a long way to go."

    -- Jim Farley, Ford's global group vice president of marketing and communications, who says the company's market share gains around the world are evidence that its reorganization plan is working, Detroit Free Press, July 12


"In tough times, you need even more drawing power from the dealership. The costs [of adding customer amenities] are high but in the long term they should pay off."

    -- Paul Taylor, NADA chief economist, The Miami Herald, July 13

Video Highlights
 

GM Still Government Motors? (Fox Business)


Helping Dealers Left Out of New GM (Fox Business)



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



NADA's New Buy Now Campaign



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)



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

"Smart Deals" from HP

Summer Specials from Lenovo

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.