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Top Stories
House Committee Postpones Consideration of New Agency to Regulate Auto Financing
US Congressional Panel Seeks To Clarify New Agency's Reach
2010 Annual Fuel Economy Guide Now Available
Chrysler Said to Plan Production of 100,000 Fiat 500s in Mexico
Industrial Output Rises on Autos
Top Stories
House Committee Postpones Consideration of New Agency to Regulate Auto Financing

Action on Campbell amendment is delayed until next week
WASHINGTON -- Markup of the Consumer Financial Protection Agency Act concluded Thursday with the House Financial Services Committee adjourning until 2 p.m., Tuesday, Oct. 20. Rep. John Campbell's, R-Calif., amendment has not yet been offered, so dealers still have several days to generate support. Under this amendment, motor vehicle dealers would not be subject to regulation by the proposed Consumer Financial Protection Agency, but would maintain consumer protection regulation administered by the Federal Reserve and the Federal Trade Commission.

NADA's legislative office is urging dealers to use this opportunity to contact members of the House Financial Services Committee (click here for a list of committee members) and ask them to vote for the Campbell amendment, which will be considered next week. As a result of efforts by dealers and ATAEs so far, several Democrats on the committee have agreed to support the amendment. Dealers should contact their members of Congress through the Capitol switchboard at (202) 225-3121. For more information or to report the progress made with committee members, contact NADA's legislative office at (202) 547-5500.
Source: NADA Newswire

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US Congressional Panel Seeks To Clarify New Agency's Reach

WASHINGTON -- Retailers such as Wal-Mart and Safeway that sell prepaid reloadable purchasing cards won't be regulated by a new consumer agency as long as they don't coordinate with banks to set the cards' terms, according to an amendment adopted by a U.S. Congressional panel Thursday. "We don't regulate professions, we regulate activities. If the activity is a loan, we regulate it," (Rep. Barney Frank, D-Mass.) said. The panel resumed debate Thursday on legislation to create the Consumer Financial Protection Agency, with a final vote on the measure expected next week. The agency would have broad powers to hand down and enforce rules governing an array of consumer credit products. On Wednesday, the panel approved an amendment that would exclude from the agency's rules companies that make manufactured homes. Another pending amendment would exempt auto dealers.
Source: Dow Jones Newswires

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2010 Annual Fuel Economy Guide Now Available

Dealers have a legal responsibility to provide the guide to customers upon request
WASHINGTON – Unveiling the 2010 Fuel Economy Guide this week, the U.S. Department of Energy and U.S. EPA are seeking help from dealers to provide their customers with information about fuel economy and the benefits of driving more fuel-efficient vehicles. The guide gives consumers important information about estimated fuel costs and mileage standards for model year 2010 vehicles. The guide is also available to mobile users (fueleconomy.gov/m), and is readily accessible from a mobile device, smart phone, or personal digital assistant. Click here for the EPA/DOE letter detailing the legal responsibility of dealers to make the guide available to customers.

There are a number of options available for dealers to meet these requirements. First, EPA/DOE will electronically distribute the guide to dealers. To meet regulatory obligations to display a booklet and to provide a booklet to customers upon request, dealers can print the guide from either the electronic file which will be emailed or available by download at www.fueleconomy.gov. Second, if access to the Internet is unavailable, dealers may order a printed paper guide. Orders for the guide are currently being accepted and will be mailed, free of charge, by the end of Nov. 2009. Click here to place an online order for the paper guide. Third, printed copies can be requested from DOE’s Information Center by calling (877) 337-3463 between 9 a.m. and 7 p.m. EDT. Click here for the form to order paper copies by mail.
Source: U.S. EPA/Department of Energy

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Chrysler Said to Plan Production of 100,000 Fiat 500s in Mexico

Chrysler Group LLC, the U.S. automaker run by Fiat SpA, is asking suppliers to plan to make enough parts for more than 100,000 Fiat 500 small cars to be built in Mexico, people familiar with the matter said. Chrysler Chief Executive Officer Sergio Marchionne has said he plans to begin selling the 500 in the U.S. by the end of next year. Marchionne said it will be sold in the U.S. as a Fiat -- the brand’s lone model -- with four different variants.
Source: Bloomberg

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Industrial Output Rises on Autos

WASHINGTON -- U.S. industries boosted production by 0.7% in September compared to the prior month, marking the second-straight monthly increase, the Federal Reserve said Friday. Manufacturing of motor vehicles and parts climbed 8.1% in September. Excluding autos, U.S. industrial production increased 0.3%.
Source: The Wall Street Journal

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Quotable
 
"We don't regulate professions, we regulate activities. If the activity is a loan, we regulate it."

   
-- Rep. Barney Frank, D-Mass, chairman of the House Financial Services Committee, which resumed debate Thursday on legislation to create the Consumer Financial Protection Agency, Dow Jones Newswires, Oct. 15
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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