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

NADA.org
Friday, July 31, 2009 RSSSEND TO A FRIENDPRINT
nada.orgAdvocacyAffiliates | Convention | Jobs | Programs | Publications | Services | Training
Top Stories
NADA: 'Clunkers' Money Going Quickly
NADA Adds 'Clunkers' Webinar on Monday to Address Claims Submission Issues
Levin: 'Cash for Clunkers' Good Through Friday
House Seeks $2B More in Cash-for-Clunker Aid
Ads Canceled, Sales Halted Amid Conflicting Reports
U.S. July Auto Sales May Rise to 2009 High on 'Clunkers' Plan
NADA Director Elections: Results Are In
Online Registration for 2010 Convention in Orlando Now Open
Top Stories
NADA: 'Clunkers' Money Going Quickly

WASHINGTON – Due to substantial consumer interest in the “Cash-for-Clunkers” program, the funding allocated for the program is being claimed very rapidly. In response, NADA Chairman John McEleney, a multi-franchise dealer in Iowa, issued the following statement:

“Without question, the Cash-for-Clunkers program has been very successful in accomplishing its goal of boosting new car and truck sales. However, based on the results of a spot dealer survey NADA conducted earlier this week, the $1 billion appropriated by Congress for the program may already have been – or will soon be – spoken for. The U.S. Department of Transportation (DOT) could be forced to reject any transaction after it has paid out the $1 billion. At the same time, there are statements coming from officials in Washington indicating that the government is actively seeking additional sources of funding and encouraging sales under the program to continue. NADA aggressively supports such additional funding and is working to secure it. Moreover, NADA has been given specific assurances by the Administration that all transactions consummated through today will be honored based on their belief that sufficient funds remain available. Nonetheless, until further definitive guidance on the availability of funding is provided by the Administration, dealers who accept additional ‘clunkers’ deals may face a risk that they will not be reimbursed.

"NADA will continue to work with NHTSA to emphasize the importance that every dealer is reimbursed for a valid deal. In this regard, the White House and DOT have emphasized to us the need for dealers to make every effort to ensure that their applications are complete at the time of initial submission. We will also continue to work with the Administration and members of Congress to meet the demonstrated consumer interest in the Cash-for-Clunkers program.”

As more information becomes available, NADA will continue to provide updates.
Source: NADA Newswire

[back to top]

NADA Adds 'Clunkers' Webinar on Monday to Address Claims Submission Issues

Because many dealers have had qualifying CARS applications rejected, the National Highway Traffic Safety Administration (NHTSA) has asked NADA to hold another Webinar as soon as possible in order to help dealers handle the rejections and submit claims successfully. In "Cash for Clunkers, Part Three: How to Submit Claims Successfully," to be held on Monday, Aug. 3, at 1 p.m. (ET), NHTSA staff will explain the leading causes of rejections and how to avoid rejections. NHTSA personnel will walk participants through a CARS transaction and will answer your questions. This will be a practical, nuts-and-bolts session. Frank Borris of NHTSA’s Office of Enforcement will conduct the presentation; other NHTSA and NADA staff will be on hand as well. Register for the webinar at www.nada.org/seminars or call (800) 252-6232, ext. 2. Due to an anticipated large volume of calls, we strongly encourage you to register now. All participants in Part One and/or Part Two of the “Cash for Clunkers” Webinar series are invited to attend this Webinar at no additional charge. If this is your first “Clunkers” Webinar, the special member rate of $199 ($225 for non-members) includes Monday’s live Webinar and the archived Webinars for Part One (July 7) and Part Two (July 27). For additional information on the “Cash for Clunkers” program, please see www.cars.gov/dealersupport or www.nada.org/cashforclunkers.
Source: NADA Newswire

[back to top]

Levin: 'Cash for Clunkers' Good Through Friday

WASHINGTON — The Obama administration promised on Friday that the financially strapped "cash for clunkers" program will be good at least through the day. Sen. Carl Levin, D-Mich., said he got the word from Transportation Secretary Ray LaHood as members of the Ohio and Michigan congressional delegations huddled on Capitol Hill to discuss ways to keep the popular program going. "Beyond Friday," Levin said, "depends on whether the administration can find some money." John McEleney, chairman of the National Automobile Dealers Association, said many dealers have been confused about whether the program will be extended and for how long. Many had stopped offering the deals Thursday after word came out that the funds available for the refunds had been exhausted. "We are hoping for some clarity from the White House and Congress before the day is over," McEleney said Friday.
Source: The Associated Press

[back to top]

House Seeks $2B More in Cash-for-Clunker Aid

WASHINGTON -- The U.S. House will vote on $2 billion in additional funding for the cash-for-clunkers program this afternoon. Michigan lawmakers said the plan would continue for the time being. But adding money to the program will face tough hurdles to move quickly through Congress in the short time left before the August recess. Sen. Carl Levin, D-Mich., said while lawmakers would press for the funding, it was uncertain how long the program might continue. “People should go to their car dealers if they want to make this deal...,” Levin said after a meeting with lawmakers this morning. The House bill that will be introduced later today will shift $2 billion from an energy loan program that was part of the economic stimulus plan passed earlier this year. The House is scheduled to adjourn today, while the Senate will remain in session through next week. Michigan Sen. Debbie Stabenow said passing the bill through the Senate, “will be a challenge,” but that the White House was backing the effort.
Source: Detroit Free Press

[back to top]

Ads Canceled, Sales Halted Amid Conflicting Reports

Cash-for-guzzler ads were canceled, showroom sales were halted and strategies were put on hold amid conflicting reports about the status of the ["cash-for-clunkers"] incentive. The action was spurred by reports late Thursday citing congressional and industry officials saying the Obama administration would suspend the guzzlers incentive within the next day. Sid DeBoer, chairman of the Lithia Motors dealership group, said he was "calling every congressman and senator I can call. The government can spend $10 billion on this and do more good for the economy than it could with the $700 billion stimulus package."
Source: Automotive News

[back to top]

U.S. July Auto Sales May Rise to 2009 High on 'Clunkers' Plan

U.S. auto sales may reach a 2009 high in July after the government’s $1 billion “cash-for- clunkers” incentives program lured shoppers back to showrooms. Industrywide deliveries will run at a seasonally adjusted annual rate of 10.1 million cars and light trucks, based on 7 analysts surveyed by Bloomberg. A sales rate matching the analysts’ projections may signal a possible bottom to the worst slump in demand since at least 1976. “Any doubt that the CARS program would jump-start auto sales is completely erased,” said Greg Martin, a GM spokesman.
Source: Bloomberg News

[back to top]

NADA Director Elections: Results Are In

Two NADA at-large directors and two directors representing their states have been elected. They are:

  • Maryland: David Williams, Jr. (Anchor Pontiac Buick GMC) succeeds Joseph "Tad" Hinder.
  • Nevada: James “Jim” R. Marsh (Jim Marsh Mitsubishi Suzuki Kia) succeeds Tom Dolan.
  • At-Large Minority East: Henry A. Ware, Jr., (Southaven Buick Pontiac GMC, Southaven, Miss.) succeeds Larry Brown.
  • At-Large Minority West: Donald “Don” P. Hicks (Shortline Auto Group, Aurora, Colo.) succeeds Dale Early.

Eighteen directors were re-elected: Rick Morrison, Alaska; Bill Willis, Del.; George Nahas: Fla.; Ramsey "Bub" Way, Ga.; David Cox, Ind.; Marshall Hebert, La.; Jim Waldron, Mich.; George Gorno, Metro Detroit; Bill Schicker, Mo.; Bill Underriner, Mont.; Brian Hamilton, Neb.; Jack Tulley, N.H.; Don Chalmers, N.M.; Gene Smith, Okla.; Peter Barry, R.I.; Ted Russell, Tenn.; Michelle Primm, at-large woman east; Kathy Sims, at-large woman west. They will begin serving their three-year terms in February 2010 at the annual convention to be held in Orlando, FL.
Source: NADA Newswire

[back to top]

Online Registration for 2010 Convention in Orlando Now Open


Registration and housing for NADA’s Convention & Exposition in Orlando, Fla., Feb. 13-15, 2010, is now open. In light of the tough economic environment, NADA is offering an “early bird” special to attendees who register online before Sept. 18. A selection of moderately priced hotels is also available on a first-come-first-served basis. All convention activities, including two full workshop tracks on Friday, Feb. 12, will take place at the Orange County Convention Center in Orlando, unless otherwise noted. For more information about the 2010 convention or to register, visit www.nada.org/convention.
Source: NADA Newswire

[back to top]

 
Quotable
 
"Without question, the Cash-for-Clunkers program has been very successful in accomplishing its goal of boosting new car and truck sales. Nonetheless, until further definitive guidance on the availability of funding is provided by the Administration, dealers who accept additional ‘clunkers’ deals may face a risk that they will not be reimbursed."

    -- John McEleney, NADA chairman, on the "cash-for-clunkers" program, NADA Newswire, July 31



"Auto dealers and consumers should have confidence that all valid CARS transactions that have taken place to-date will be honored."
 
    -- White House spokesman Robert Gibbs, in a statement, adding that the administration is "evaluating all options" to keep the "cash-for-clunkers" program funded, The Washington Post, July 31



"It is amazing that ‘cash for clunkers’ would be this successful this quickly. I urge Congress and the administration to provide additional funding."

    -- Senator Debbie Stabenow, D-Mich., in a statement Thursday, Bloomberg News, July 31


"Any doubt that the CARS program would jump-start auto sales is completely erased. We hope there’s a will and way to keep the CARS program going a little bit longer."

     -- Greg Martin, a General Motors Co. spokesman, Bloomberg News, July 31

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)



Fighting the Dealers' Fight (CNBC)



Cutting Dealers a Mistake (Fox Business)



Vice Chairman Tonkin on Chrysler Closures (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 Instantly on HP Laptops

NADA Insurance Gives Dealers Thousands in Hole-in-One Coupons


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.