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Tuesday, Sept. 22, 2009 RSSSEND TO A FRIENDPRINT
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Top Stories
U.S. Says 90% of Clunker Claims Have Been Approved
Fla. Dealership Wins ENERGY STAR Small Business Award
Filing Deadline Approaches for Rejected Dealers in Chrysler Bankruptcy
New IRS Memo Addresses UNICAP Compliance
Department of Justice Announces $6.8 Million to Fund Enhancements to National Motor Vehicle Title Program
NADA Sponsors Dealer Day at SEMA
Top Stories
U.S. Says 90% of Clunker Claims Have Been Approved

The U.S. Transportation Department says it has paid or approved $2.6 billion in cash-for-clunkers transactions, or 90 percent of the $2.9 billion submitted, as accelerated payments to dealers continue. A total of 534,598 claims for $2.3 billion were paid as of Sept. 18, said a posting [Monday] on the federal cars.gov Web site. The latest figures show that Transportation may have to pay 146,828 claims for $615.1 million if it is to meet Secretary Ray LaHood's Sept. 30 deadline for payment of all properly filed submissions.
Source: Automotive News

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Fla. Dealership Wins ENERGY STAR Small Business Award

Preston Hood Chevrolet in Fort Walton Beach, Fla. was one of seven small businesses honored by the U.S. Environmental Protection Agency with a 2009 ENERGY STAR Small Business Award for its efforts to save energy and prevent pollution. It was the only dealership to win a 2009 award. According to ENERGY STAR, Preston Hood Chevrolet drew some motivation from NADA's Energy Stewardship Initiative, which was launched in 2007 to help improve the energy efficiency of dealership facilities and operations. "Being a true energy-efficient business means not just adapting a few new practices, but creating a new method of operations," General Manager Taylor Hood tells ENERGY STAR. "ENERGY STAR gives you the resources to help create a viable, permanent program."
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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New IRS Memo Addresses UNICAP Compliance

The IRS Industry Director, Heavy Manufacturing and Transportation, Large and Mid Size Business Division has issued a Sept. 15, 2009 memorandum entitled Tier III - Field Directive on the Planning and Examination of IRC § 263A issues in the Auto Dealership Industry. The memo and its attachments, which pertain to uniform capitalization (UNICAP) audits that IRS field examiners conduct at franchised car and truck dealerships, are available at www.nada.org/regulations (see the lead item). Dealers should consult with their tax practitioner concerning this development.
Source: NADA Regulatory Affairs

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Department of Justice Announces $6.8 Million to Fund Enhancements to National Motor Vehicle Title Program

vehiclehistory.gov Web Site Launched
WASHINGTON – The Department of Justice announced last week that more than $6.8 million was awarded to 12 states and to the American Association of Motor Vehicle Administrators (AAMVA) to protect consumers from vehicle fraud and unsafe vehicles. AAMVA received $5.7 million to fully implement NMVTIS and make necessary system enhancements and relieve states from any user fees for the system in 2010. The funds will assist with implementation of the National Motor Vehicle Title Information System (NMVTIS), an electronic system launched for consumers in January 2009 that enables users to verify key automobile information. The states of Alabama, Alaska, Arizona, Connecticut, Delaware, Hawaii, Missouri, New York, North Dakota, Pennsylvania, Rhode Island and South Carolina received up to $100,000 each to assist with their participation in the system. Consumers can access NMVTIS through www.vehiclehistory.gov and find information about a vehicle's condition and history. For a nominal fee, consumers can retrieve the most recent odometer reading, title and brand history, nationwide salvage and total loss determination, and, in some cases, historical theft data.
Source: Department of Justice

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NADA Sponsors Dealer Day at SEMA

NADA is co-sponsoring a special "Dealer Day" event on Wednesday, Nov. 4 during the annual Specialty Equipment Market Association (SEMA) show in Las Vegas. Attendees will discover recession-busting solutions to stimulate new- and pre-owned vehicle sales and boost profits—and earn a share of the nearly $32 billion accessory market—through vehicle accessorizing. The one-day conference is designed to give dealers the knowledge to successfully integrate an accessory sales program at the dealership.

A dealer panel and other industry experts will discuss topics, such as: strategies to integrate accessory sales into the sales process; increasing used-vehicle sales with accessorizing; and understanding the impact of after-market accessories on vehicle warranties.

Advance registration is $75, which includes "Dealer Day" and SEMA show registration. For more information or to register for the SEMA Dealer Day conference, click here.
Source: SEMA

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Quotable
 
"From our perspective, the program was a huge hit despite some of the early hiccups. It cleaned out inventories, but that means manufacturers are running overtime and getting people back to work."

   
-- NADA Chairman John McEleney, reflecting on the "Cash for Clunkers" program, The Day (New London, Conn.), Sept. 22
Video Highlights
 

Crisis Timeline: NADA in High Gear (NADA-TV)


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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