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Top Stories
Chrysler Dealers Defended in Credit Agencies' Standoff
GM Moves to Open New Dealerships
Volkswagen-Porsche Overtakes Toyota as World's Largest Carmaker
Ford Fusion Has Record Year
Researcher: 'Clunkers' Program Boosted Auto Sales
Committed to Community: Animal Shelter Shifts Focus Back to Adoptions
NADA Marketplace
Nov. 18 Webinar to Address New IRS Field Directive on UNICAP and What It Means for You!
Experient, Inc. is NADA's Official Housing Bureau for the NADA Convention
Top Stories
Chrysler Dealers Defended in Credit Agencies' Standoff

Group says issue jeopardizes all sides
The National Automobile Dealers Association has intervened on behalf of more than 100 Chrysler, Jeep and Dodge dealers who could lose their credit through GMAC Financial Services later this month if the lender fails to resolve a standoff with Chrysler Financial. "These dealers face a looming deadline, and, unless the issue is resolved immediately, hundreds of Chrysler dealers are threatened as is Chrysler," said NADA Chairman John McEleney in a letter to Chrysler CEO Sergio Marchionne. NADA has asked GMAC to continue financing Chrysler dealers not yet approved for another year. Earlier this week, GMAC officials met with about 12 Detroit-area dealers and told them they want to resolve the conflict, but that each case would be handled individually.
Source: Detroit Free Press

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GM Moves to Open New Dealerships

While it is unclear how many new dealerships GM wants to open, the Detroit automaker confirmed that letters have gone out to some dealers being wound down to invite them to apply for a new store. "We sent out letters in mid-to-late September looking for people to submit proposals in markets where we either want to reestablish a point or set up a new point," GM spokeswoman Ryndee Carney said. She did not disclose how many dealers were invited to submit proposals or how many dealerships GM is looking to open.
Source: Detroit Free Press

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Volkswagen-Porsche Overtakes Toyota as World's Largest Carmaker

Volkswagen-Porsche has overtaken Toyota to become the world's largest car manufacturer as the German group benefits from state-backed stimulus packages around the globe. The maker of the Golf, Polo and Boxster brands has produced 4.4 (million) vehicles so far this year, outstripping its Japanese rival which has seen 4 (million) cars roll off production lines since January. However, IHS Global Insight said Volkswagen's ascent to the top of the manufacturing league was aided by Toyota's decision to halve its output in the first quarter of the year.
Source: The Guardian (Manchester, U.K.)

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Ford Fusion Has Record Year

Sales of the Ford Fusion have topped 151,000 units this year, making it the best-selling car from a domestic manufacturer. "It's extraordinary that a car could set a sales record in an environment where overall industry sales are down 26 percent from a year ago," said Ford sales analyst George Pipas. In the first 10 months of this year, Fusion sales were 15 percent higher than they were during the same period in 2008, making it one of the top 10 best-selling vehicles in the country.
Source: The Detroit News

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Researcher: 'Clunkers' Program Boosted Auto Sales

MUNCIE, Ind. -- A Ball State University researcher who analyzed the federal government's Cash for Clunkers program says it fueled a spike in auto sales over the summer. Michael Hicks of Ball State's Center for Business and Economic Research analyzed the program ... His analysis shows that of the 690,000 autos sold under the Cash for Clunkers rebate program, all but 3,000 to 5,000 would not have been exchanged without the rebates. Hicks says the program created an immediate boost to the auto industry, which is important to Indiana as well as much of the manufacturing-centered Midwest.
Source: The Associated Press

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Committed to Community: Animal Shelter Shifts Focus Back to Adoptions

KILLEEN, Texas -- Toyota of Killeen has been a long time supporter of The Second Chance Animal Shelter which finds homes for unwanted animals. So, when smoke from a fire killed 99 cats and 12 dogs and closed down the shelter Sunday, Toyota of Killeen immediately joined other members of the community to help. The dealership donated money and supplies in a volunteer effort spearheaded by Melissa Baker, a dealership employee. On his national radio show, "The Huckabee Report," former Arkansas Gov. Mike Huckabee saluted the volunteers as part of "Huck's Heroes," a segment that honors heroes in the community. As a result of the quick action taken by the volunteers in the community, The Second Chance Animal Shelter is expected to reopen by the end of the week.
Source: Killeen Daily Herald/NADA Newswire

Editor's Note: If you have a story about involvement in your community, send to publicaffairs@nada.org.

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NADA Marketplace
Nov. 18 Webinar to Address New IRS Field Directive on UNICAP and What It Means for You!

NADA will present IRS Motor Vehicle Technical Advisor Terri Harris in a Webinar on the Uniform Capitalization Rules (UNICAP) directive on Wednesday, Nov. 18, from 1-3 p.m. EST. Here’s the background: On Sept. 15, the IRS Director for the Heavy Manufacturing and Transportation (HMT) Industry issued a memo that provides direction to IRS field examiners on how to conduct UNICAP audits at car and truck dealerships. The unofficial directive contains an audit toolkit and announces the suspension of new UNICAP audits through Dec. 31, 2010 to provide dealers with an opportunity to change their accounting methods in order to comply with a September 2007 Technical Advice Memorandum [TAM 200736026] that involved a franchised car dealer. The Industry Director issued the field directive to address the "high level of taxpayer noncompliance on this issue" and because it represents "the highest compliance risk" to the industry. So what does this mean for dealers?

NADA will tackle this issue in an interactive Webinar that will feature a powerpoint presentation by the IRS' Terri Harris. The program will be moderated by Paul Metrey, director of NADA's Regulatory Affairs. Thirty to 60 minutes of the Webinar will be devoted to Q & A. Cost of the Webinar is only $199 per computer connection. Registrants will have access to the Webinar recording for up to six months. Register online at www.nada.org/seminars or call (800) 248-6232, ext. 7273.
Source: NADA Newswire

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Experient, Inc. is NADA's Official Housing Bureau for the NADA Convention

NADA has made arrangements with Experient, Inc. to book hotel rooms for the upcoming NADA Convention & Expo in Orlando. NADA has NOT authorized any other organization or company to make hotel reservations for the convention. E-mails, phone calls or other communications from “Expo Marketing” or “Expo Housing” or any other third party are not being sent by NADA or on behalf of NADA. To register and reserve a hotel room for the convention, visit www.nada.org/convention.
Source: NADA Newswire

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Quotable
 
"These dealers face a looming deadline, and, unless the issue is resolved immediately, hundreds of Chrysler dealers are threatened as is Chrysler."

   
-- NADA Chairman John McEleney, in a letter to Chrysler CEO Sergio Marchionne, urging him to resolve a standoff between GMAC Financial Services and Chrysler Financial over dealer floor plan loans, Detroit Free Press, Nov. 12
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
 


NADA Chairman: Convention is the 'Must-Attend Event'

Did you know?

As a bonus for attending the NADA convention, you’ll receive Steve Miller’s Marketing Stimulus Package, which includes the seven-part video series, “Introduction to the Seven Foundational Concepts for a Successful Marketing Strategy” and once a week for 12 weeks you’ll also receive valuable marketing tips, tactics or tools designed to help generate more prospects and customers.

Already registered? Check your e-mail for instructions to access these marketing tips. For more information or questions, contact
expo@nada.org.


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


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Save on HP's dx9000 TouchSmart PC

HP’s dx9000 TouchSmart Business PC can transform your desktop experience with this sleek, touch-enabled PC – now only $1,287.08. To take advantage of this offer, visit NADA's PC Purchase Program site (member login required). Offer expires Nov. 30.

 
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