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Top Stories
NADA Convention: Industry Leaders to Discuss the Future of Auto Retailing
GM Shifts Focus from Restructuring to Vehicles
GM Picks U.S. Sales Chief after First Exit from CEO's New Team
Only Weeks Remain to Take Advantage of Consumer and Business Auto Tax Incentives
Used Car Prices Climb to Record High in September
Top Stories
NADA Convention: Industry Leaders to Discuss the Future of Auto Retailing

Volkswagen’s Stefan Jacoby and energy activist T. Boone Pickens to deliver keynote remarks; industry speakers include NADA’s John McEleney and Ed Tonkin, AutoNation’s Mike Jackson
WASHINGTON – Industry leaders will discuss the future of auto retailing at the National Automobile Dealers Association’s (NADA) 93rd annual Convention & Exposition in Orlando, Fla., Feb. 13-15. “Each of our speakers brings a unique perspective on auto retailing and in particular how energy issues are shaping the vehicles that will be built and sold,” says NADA Convention Chairman Brian Hamilton. “As the industry begins to slowly come back from a very challenging year, we can all benefit from hearing what these innovative leaders have to say about the future of the auto industry." Other issues that will be discussed include vehicle innovation and sustainable mobility.
Source: NADA Newswire

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GM Shifts Focus from Restructuring to Vehicles

DETROIT — General Motors is finally back at work on what it's supposed to do: making cars and trucks. CEO Fritz Henderson said Wednesday that the automaker now is spending a lot more time focusing on customer needs and upcoming product lines, instead of restructuring and cost-cutting maneuvers. "The new board wants us to complete restructuring actions as much as possible by the end of 2009 and is pushing us to spend much more of our time winning in the marketplace," he said on a conference call. That's a massive switch in energy for top management compared with six months ago, when life was all about bankruptcy and whether the company would survive. Henderson said GM is making progress on its restructuring, just three months out of bankruptcy court as a new entity.
Source: USA TODAY

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GM Picks U.S. Sales Chief after First Exit from CEO's New Team

General Motors Co. chose a new head of U.S. sales to replace Mark LaNeve, who is leaving the auto industry in the first change to Chief Executive Officer Fritz Henderson’s leadership team. Susan Docherty’s promotion to sales chief from general manager of Buick-GMC, effective Oct. 16, was announced yesterday on the Detroit-based automaker’s Web site. Henderson revealed LaNeve’s departure about eight hours earlier in a conference call with media and analysts on the state of the business about 90 days after GM emerged from a U.S. Treasury-backed bankruptcy.
Source: Bloomberg

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Only Weeks Remain to Take Advantage of Consumer and Business Auto Tax Incentives

With the ‘cash for clunkers’ sales frenzy over, now is a great time to remind consumers that they can still take advantage of the generous tax deduction for state sales taxes (and some other state fees) on the purchase of a qualifying new vehicle before Dec. 31. NADA was instrumental in the passage of this provision. These savings will not be available after Dec. 31, so remind consumers that now is a great time to buy.

With the economy slowly recovering, it is also the perfect opportunity to point out to your small business customers that they have just a few weeks left in 2009 to take advantage of generous accelerated depreciation and expensing tax incentives on the purchase of certain qualifying vehicles (extended in the February stimulus bill, The American Recovery and Reinvestment Act of 2009).

The links below provide quick reference guides of the tax incentives from the stimulus bill, but do not provide a comprehensive reference for all tax situations. As always, note that the guides are simply summaries, and NADA encourages dealers, consumers and businesses to contact their preferred tax professionals for further details.

To view IRS guidance on the consumer vehicle sales tax deduction, including income and other restrictions, click here. To view a summary of accelerated depreciation and expanded small business expensing rules from the stimulus bill, click here. For a summary of these and other potentially relevant tax provisions in the stimulus bill, click here.
Source: NADA Newswire

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Used Car Prices Climb to Record High in September

NEW YORK — Used vehicle prices shot to an all-time high last month, spurred by falling inventories, according to a closely watched barometer of the second-hand car business. The main driver behind higher used car prices is falling wholesale vehicle supply ... This summer's wildly popular cash for clunkers program sent new vehicle sales soaring, taking dealers by surprise and clearing out inventories.
Source: The Associated Press

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Quotable
 
"We are taking aggressive actions and moving quickly to transform our culture into one that is truly customer-focused."

   
-- General Motors CEO Fritz Henderson said Wednesday the automaker now is spending a lot more time focusing on customer needs and upcoming product lines, instead of restructuring and cost-cutting maneuvers, USA TODAY, Oct. 8
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?

Orlando is rated No. 2 out of the top 200 event destinations, attracting more than 4 million attendees for conventions and meetings each year. So why not plan a family vacation before or after the NADA convention? Convention delegates can purchase discounted tickets to nearly 100 attractions, such as SeaWorld, Universal Orlando, Walt Disney World, Kennedy Space Center and more. Click here for details.

Be in the know
at the NADA convention Feb. 13-15.

 
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