For optimal viewing through your web browser or PDA, click here.

SPONSORED BY
Click Here
NADA.org
Monday, Nov. 23, 2009 RSSSEND TO A FRIENDPRINT
nada.orgAdvocacyAffiliates | Convention | Jobs | Programs | Publications | Services | Training
Top Stories
NADA Adds Convention Spiff
Senators Seek Answers on Auto Dealer Closures
GM Dealer Cuts: Math -- or Fuzzy Logic?
NADA Provides Online Dealer Guidance on Year-End Consumer and Business Tax Credits
Chrysler Parts Buyback Lacks Buy-in
Volkswagen, Porsche Approve Contracts in Merger Move
NADA Marketplace
NADA Convention: Experient Inc. Is the Official Housing Bureau
Top Stories
NADA Adds Convention Spiff

The National Automobile Dealers Association is introducing its own incentive program to boost attendance at its annual convention Feb. 13-15 in Orlando, Fla. This week it will mail members details of the "NADA Stimulus Package," which provides each (dealer and their managers) $200 vouchers that can be redeemed for goods and services from any convention exhibitor. The offer is in addition to hotel, airline and car rental discounts NADA has negotiated, said association spokesman David Hyatt. "We recognize these are really challenging times," Hyatt said. "This is a demonstration of our support to our members."
Source: Automotive News

[back to top]

Senators Seek Answers on Auto Dealer Closures

WASHINGTON -- Nearly two dozen members of the U.S. Senate sought answers on Friday from General Motors and Chrysler on efforts to resolve complaints from dealers who lost business with the car companies. The Commerce Committee's Democratic chairman, John Rockefeller, its top Republican, Kay Bailey Hutchison, and 20 other members of the panel wrote to executives at GM and Fiat-led Chrysler for information on negotiations with retailers. "It's crucial that outstanding issues be resolved as expeditiously and efficiently as possible," the senators wrote. The prospect of a legislative remedy is uncertain, and lawmakers have exerted pressure on the companies to negotiate some kind of solution. "We've urged the companies to meet with the dealers and try to work something out," Ron Bloom, the head of the administration's autos task force, told Reuters in an interview (last) week.
Source: Reuters

Editor's Note: The letters request updates from Chrysler and GM on several issues, including: Participation Agreements, Vehicle Parts and Inventory, Closing Decision Transparency, Rural Customer Service, Market Re-Entry, Technician Placement Assistance and Ongoing Dealer Negotiations. Click here for the letter to Chrysler. Click here for the letter to GM.

[back to top]

GM Dealer Cuts: Math -- or Fuzzy Logic?

$2.5 billion in costs savings have little to do with store count
In congressional testimony last summer, CEO Fritz Henderson asserted that GM would save about $2.5 billion per year by cutting 2,500 dealerships. But here's the issue: The vast majority of that total -- well over 80 percent -- comes from costs tied to selling a vehicle, such as filling the gasoline tank or offering a rebate. "If they want to save a lot of money, they could sell nothing," says Alan Spitzer, CEO of Spitzer Auto World in Elyria, Ohio, just outside Cleveland. "Just think of the billions of dollars they'd save then."
Source: Automotive News

[back to top]

NADA Provides Online Dealer Guidance on Year-End Consumer and Business Tax Credits

NADA is providing a one-stop resource on its Web site, www.nada.org, for dealers and dealership sales staff to help answer end-of-the-year consumer and business tax questions. Visit www.nada.org/stimulustaxguide for the links to summaries on the new-vehicle sales tax deduction, hybrid tax credits, diesel tax credit and plug-in tax credit for consumers. Dealers can also find a link to a sales tax deduction showroom flyer.

You can also find quick summaries of other recent business tax incentives, such as the accelerated bonus depreciation and net operating loss (NOL). The bonus depreciation incentive will allow a dealer’s small business customers to accelerate depreciation on qualifying business vehicles if they purchase it in the next few weeks. An expanded NOL tax credit, recently signed into law (PL 111-92), was modified to allow businesses (including dealerships) of all sizes to carry back recent operating losses to get refunds on taxes paid over the past five years. Guides to both of these business tax breaks can be found at www.nada.org/stimulustaxguide.

While these guides provide a quick reference, NADA, as always, recommends that dealers check with their accountant or tax professional for more detailed guidance.
Source: NADA Newswire

[back to top]

Chrysler Parts Buyback Lacks Buy-in

For some dealers, 68 cents on dollar too cheap, too late
This month Chrysler sent letters to all 789 rejected dealerships offering to repurchase eligible parts such as oil filters, air filters, wiper blades, starters and engine controllers, said company spokeswoman Kathy Graham. But strings are attached. Parts that don't meet Chrysler's eligibility requirements will be shipped back to the dealer at the dealer's expense.
Source: Automotive News

[back to top]

Volkswagen, Porsche Approve Contracts in Merger Move

Volkswagen AG’s supervisory board signed off on contracts for its takeover of Porsche SE in stages, clearing the way for Europe’s largest automaker to add the 911 sports car to its model lineup. Porsche’s controlling shareholders, the Porsche and Piech families, also approved the documents after meeting (Friday) at Volkswagen’s headquarters in Wolfsburg, Germany, the sports-car manufacturer said in an e-mailed statement. Separately, Volkswagen endorsed the purchase of assets of insolvent carmaker Wilhelm Karmann GmbH. “Volkswagen is moving forward in its quest to become No. 1 in global auto building,” said Stefan Bratzel, head of the Center of Automotive Research Institute in Bergisch-Gladbach, Germany. “This merger implies enormous synergies.” (Volkswagen Chief Executive Officer Martin) Winterkorn has a target for VW to overtake Toyota Motor Corp., the world’s biggest automaker, in deliveries and profit margins by 2018. Porsche will become the 10th brand at VW, which also owns Audi in Germany as well as sports-car maker Lamborghini in Italy and Crewe, England-based Bentley.
Source: Bloomberg

Editor's Note: Stefan Jacoby, president and CEO of Volkswagen Group of America, will deliver the keynote address at the NADA convention on Saturday, Feb. 13.

[back to top]

NADA Marketplace
NADA Convention: Experient Inc. Is the Official Housing Bureau

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

[back to top]

 
Quotable
 
"We recognize these are really challenging times. This is a demonstration of our support to our members."

    -- David Hyatt, NADA vice president for public affairs, referring to the $200 voucher dealers and their managers will receive for attending the upcoming NADA convention, Automotive News, Nov. 23



"Volkswagen is moving forward in its quest to become No. 1 in global auto building." 

    -- Stefan Bratzel, head of the Center of Automotive Research Institute in Bergisch-Gladbach, Germany, Bloomberg, Nov. 20. Stefan Jacoby, president and CEO of Volkswagen Group of America, will deliver the keynote address at the NADA convention on Saturday, Feb. 13.
Video Highlights
 

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


Media Coverage: The Tragedy of Dealer Closings (NADA-TV)



NADA's 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?

All dealers and their managers who attend the NADA convention in Orlando, Feb. 13-15, will receive a $200 voucher at registration. The voucher can be used toward the purchase of any product or service from any exhibitor on the expo floor. During these challenging times, this is our way of demonstrating support for your business future. Register today! For more information or questions, contact expo@nada.org.

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


Save Up to 40 Percent with Lenovo

Lenovo has entered into an unprecedented partnership with Microsoft that maximizes the potential of Windows® 7. Lenovo’s new PCs will boot up faster (up to 33 percent faster), have HD graphics, and will be easier to use. NADA members and their staff can save up to 40 percent on select PCs. Lenovo invites you to see how their systems are designed for the way you work. To take advantage of this offer, visit NADA's PC Purchase Program page (member login required). Offer expires Nov. 30.


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.

 
Click Here
Search Back Issues | Unsubscribe | Subscribe | Manage your subscription | email us
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.