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Wednesday, Sept. 16, 2009 RSSSEND TO A FRIENDPRINT
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Top Stories
National Auto Dealers Commend Transportation Secretary for Accelerating 'Cash for Clunkers' Payments
Auto Dealers Reimbursed for More Than 70 Percent of 'Clunker' Deals, Transportation Department Reports
Filing Deadline Approaches for Rejected Dealers in Chrysler Bankruptcy
White House Is Prepared to Set First National Limits on Greenhouse Gases
IRS to Host a Free Webinar Today on Cash Reporting
NADA Convention: Only 3 Days Left to Save Money on Advance Registration
Top Stories
National Auto Dealers Commend Transportation Secretary for Accelerating 'Cash for Clunkers' Payments

WASHINGTON -- The National Automobile Dealers Association issued the following statement today: "NADA commends Transportation Secretary Ray LaHood for his hands-on approach overseeing the cash-for-clunkers program and helping to spark a revival in the economy's automotive sector. The clunkers program proved wildly popular among consumers. Its initial $1 billion appropriation was spent in a few days, leading to a further $2 billion appropriation before Congress left for their August recess. Because of the extraordinary consumer response to the government's incentive, cash for clunkers has been called the most effective piece of the government's economic stimulus. Dealers across the country are reporting that they experienced one of the busiest summers in recent memory thanks to the boost in sales prompted by the clunkers program."

"There's no question that this program was a boon to consumers, to automobile dealers and to the workers who build cars and trucks," said NADA Chairman John McEleney. "The clunkers program also clearly accomplished its goal of jump-starting new car and truck sales and removed nearly 700,000 older vehicles from the roads." McEleney thanked Secretary LaHood for speaking at its conference today and noted that the Secretary's efforts helped speed up rebate payments to car dealers.
Source: NADA Newswire

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Auto Dealers Reimbursed for More Than 70 Percent of 'Clunker' Deals, Transportation Department Reports

NADA commends Transportation Secretary for speeding up rebate payments to auto dealers
WASHINGTON – U.S. Transportation Secretary Ray LaHood, in remarks today at the National Automobile Dealers Association’s Washington Conference, said that dealers have been reimbursed for more than 70 percent of “cash for clunkers” transactions totaling $2.4 billion – “and counting.”

“All of the dealers will get paid on or before September 30,” LaHood said.

“There were some administrative flaws. We want to give the benefit of doubt to every dealer, even to the point of getting on the phone and talking the dealer through it,” LaHood added.

The Transportation Secretary was a keynote speaker at NADA’s legislative conference. NADA commended Secretary LaHood for his hands-on approach overseeing the clunkers program, which proved wildly popular among consumers and boosted the economy’s auto sector.
Source: NADA Newswire

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Filing Deadline Approaches for Rejected Dealers in Chrysler Bankruptcy

Rejected Chrysler dealers are reminded that they have until Sept. 28 to file proofs of claims with the U.S. Bankruptcy Court. For information from NADA regarding the filing of claims, click here. Examples of the types of claims dealers may file are provided in the attached document.
Source: NADA Newswire

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White House Is Prepared to Set First National Limits on Greenhouse Gases

The Obama administration on Tuesday formally proposed new fuel efficiency standards for cars and trucks, a move that signals the first federal limits on greenhouse-gas pollution. "We are launching -- for the first time in history -- a new national standard aimed at both increasing gas mileage and decreasing greenhouse-gas pollution for all new cars and trucks sold in America. This action will give our auto companies some long-overdue clarity, stability and predictability," Obama said. "In the past, an agreement like this would have been impossible -- but this time was different." The National Auto Dealers Association expressed concern that the proposal could prove confusing in practice. But the announcement won praise from both auto manufacturers and environmentalists.
Source: The Washington Post

Editor's Note: NADA strongly supports continuous improvements in fuel economy for passenger vehicles and light trucks pursuant to a single national standard.  A single, national fuel economy standard is the best way to meet America’s greenhouse gas and energy security challenges. However, NADA is concerned that the Administration has chosen a needlessly complicated and burdensome path involving three different agencies (NHTSA, EPA and the California Air Resources Board) each regulating fuel economy under three different statutes.  For example, under California’s fuel economy rule, certain models could be restricted in certain states, which would limit consumer choice.  NADA will closely review the proposal and will comment on any provisions which could treat competing dealers unfairly or impose unnecessary and undue burdens on dealership operations.

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IRS to Host a Free Webinar Today on Cash Reporting

The Internal Revenue Service is hosting a free Webinar covering cash reporting and Form 8300. The Webinar, "When Businesses Should File Form 8300 For Cash Transactions," will be held today at 1 p.m. and 4 p.m. EDT. There is no cost to participate. Click here to sign up. Click here for more detailed information about the Webinar. Click here for an IRS handout on Form 8300. NADA members can find more information on cash reporting at www.nada.org/regulations.
Source: NADA Newswire

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NADA Convention: Only 3 Days Left to Save Money on Advance Registration

There are only three days remaining to take advantage of the money-saving “early bird” registration rates for the NADA Convention & Exposition in Orlando, Fla. from Feb. 13-15. Fees will increase after Friday, Sept. 18, so don’t delay. Did you know a brand new Executive Track of speakers has been slated for the NADA convention? They will cover topics on the economy, financial markets, organizational change and managing the new generation and business growth. It’s another reason for you to “go to know!” Click here to register today.
Source: NADA Newswire

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Quotable
 
"NADA commends Transportation Secretary Ray LaHood for his hands-on approach overseeing the cash-for-clunkers program and helping to spark a revival in the economy's automotive sector. The Clunkers program proved wildly popular among consumers."

    -- NADA Statement, NADA Newswire, Sept. 16
Video Highlights
 

NADA Chairman on Success of 'Clunkers' (Fox Business)


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



NADA's New Buy Now Campaign


 Senate Testimony on Floorplan Loans (NADA-TV) 
 NADA Tackles Industry Crisis (NADA-TV) 
NADA on the Front Lines  (NADA-TV)

Click here for more video reports.
2010 Convention
 
 

Did you know?

As a bonus for attending the NADA convention, you can attend two workshop sessions on Friday afternoon before the convention starts at no extra charge!

Click here for more money saving ideas or visit www.nada.org/convention and click the $$$ Savings icon. And for airline discounts, check out our airfarewatchdog in the money saving section.

Be in the know at the 2010 NADA Convention & Expo in Orlando, Fla., Feb. 13-15.

 
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