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Friday, Sept. 25, 2009 RSSSEND TO A FRIENDPRINT
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Top Stories
U.S. Clears Way for Dealers' Blocked Clunker Claims
GMAC to Offer New Dealership Incentives
Filing Deadline Approaches for Rejected Dealers in Chrysler Bankruptcy
New IRS Memo Addresses UNICAP Compliance
NADA Sponsors Dealer Day at SEMA
Top Stories
U.S. Clears Way for Dealers' Blocked Clunker Claims

WASHINGTON -- Dealers whose cash-for-clunkers claims were blocked because of the government's computer problems can now apply for reimbursement under a new federal rule. The 12-page rule, which was posted [Thursday] on the cars.gov Web site, gives dealers until Oct. 13 to mail applications to the DOT's National Highway Traffic Safety Administration in Washington along with supporting documents. The rule said some filing difficulties arose when dealers inaccurately entered account passwords multiple times and were automatically locked out of the system.
Source: Automotive News

Editor's Note: According to NHTSA, the exception process for deals involving unsubmitted reimbursement applications is available only for reasons attributable to action or inaction by NHTSA. Dealers with unsubmitted claims should take note of the Oct. 13 deadline. Click here for the rule.

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GMAC to Offer New Dealership Incentives

NEW YORK -- GMAC Financial Services, the former financing arm of General Motors Co., is making a new push to recapture its share in the auto financing business by offering incentives to its most loyal dealers. The program will be called Ally Dealer Rewards -- named after its newly rebranded consumer banking arm Ally Bank -- although the program will be administered by GMAC's automotive unit. Dealers who use the full complement of GMAC services, [spokeswoman Sue Mallino] said, will be rewarded with cash, remarketing services or other perks.
Source: The Associated Press

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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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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. 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
 
"We have great dealers, great products. Like many of the things we had to do, I don't feel good about the decision, but I feel it was the right one."

    -- Frederick A. "Fritz" Henderson, GM president and chief executive officer, on the company's decision to go from eight brands to four, Orlando Sentinel, Sept. 24

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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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.