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nada.orgAdvocacyAffiliates | Convention | Jobs | Programs | Publications | Services | Training
Top Stories
Smaller Used-Vehicle Supply Boosts Wholesale Prices Every Month in 2009
NADA Convention & Expo
National Time Magazine 'Dealer of the Year' to be Named at NADA Convention in Orlando
NADA University Set to Launch at Convention in February
NADA Offers Dealers $200 Voucher as an Extra Incentive for Attending Convention
NADA Enhances Convention Experience Through Social Media
Reminders
COBRA Benefits Expanded
EPA Hazardous Air Pollution Rule Requires Existing Auto Body Shops to File 'Initial Notification Form' by Jan. 11
FTC Issues New 'Optional' Model Privacy Notice
Top Stories
Smaller Used-Vehicle Supply Boosts Wholesale Prices Every Month in 2009

Used-car shortage expected to ease in 2010
McLEAN, Va. -- About 8 million fewer used cars and trucks entered the U.S. market over the past two years, resulting in higher used-vehicle prices every month in 2009, according to the latest AuctionNet data of wholesale transaction prices. AuctionNet is a joint partnership between the N.A.D.A. Official Used Car Guide and the National Auto Auction Association. “There were several reasons for the decline in used-vehicle inventory: Dramatically lower new-car sales in 2008, as well as fewer trade-ins, off-lease vehicles, and rental-fleet vehicles in 2009,” says Paul Taylor, NADA chief economist. With new-vehicle sales expected to increase some 15 percent in 2010, Taylor estimates an additional 1.1 million used-cars and trucks will be traded-in at new-car dealerships compared with 2009. “We’ll start to see an ease to the used-car shortage, but it will be several years before the supply returns to the average of the 1998-2007 period of strong new-car sales,” says Taylor.
Source: NADA Newswire

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NADA Convention & Expo
National Time Magazine 'Dealer of the Year' to be Named at NADA Convention in Orlando

NEW YORK -- Forty-five new-car dealers from around the country have been nominated for the national Time Magazine Dealer of the Year Award. The award is presented by Time Magazine in partnership with Goodyear. This is the 41st annual Time award recognizing dealers who exhibit exceptional business performance combined with distinguished community service. It will be presented during the opening session of the NADA Convention & Expo in Orlando on Saturday, Feb 13. A panel of faculty members from the University of Michigan’s Graduate School of Business Administration will select the winner. Click here for the list of nominees.
Source: NADA Newswire

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NADA University Set to Launch at Convention in February

NADA University, an unprecedented online education and cutting-edge resource for NADA and ATD dealer members to enhance their business performance, will launch at the NADA Convention & Expo in Orlando, Feb. 13-15. Demos and access credentials will be provided onsite at the NADA University booth (#1801) and the NADA University studio. The launch will include substantial training and free services for members. LightSpeed VT, a global leader in interactive-based training systems focused on the auto industry, will deliver NADA University to users in both online and classroom-based solutions. NADA University encompasses four "Automotive Centers of Excellence," which are the NADA/ATD Academy, Learning Hub, 20 Group and Resource Toolbox. Click here for more details.
Source: NADA Newswire

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NADA Offers Dealers $200 Voucher as an Extra Incentive for Attending Convention

As an added incentive to attend NADA's upcoming Convention & Expo, all dealers and their managers will receive a $200 voucher when they check in at the convention in Orlando. The $200 voucher can be used to purchase any product or service from any exhibitor on the expo floor during the three-day convention, February 13-15, 2010. "During these challenging times, this is our way of showing our support for dealers around the country and the future of their businesses," says Steve Pitt, NADA vice president of conventions and expositions.
Source: NADA Newswire

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NADA Enhances Convention Experience Through Social Media

Follow the latest convention developments and interact with attendees, workshop presenters and exhibitors on LinkedIn, Facebook, Twitter and YouTube
To enhance the experience for attendees, NADA—for the first time—has launched a social media campaign using the popular LinkedIn, Facebook, Twitter and YouTube platforms. “By using these social media sites, dealers and exhibitors can get a head start on what to expect at the convention,” says Steve Pitt, NADA vice president of conventions and expositions. “Attendees will receive breaking news announcements. Dealers and their managers will also be able to interact online with instructors before workshops begin and get a jump-start on reviewing exhibitor products and services that can improve their businesses.” To follow convention developments on the social media sites, visit www.nada.org/convention and click on the icons.
Source: NADA Newswire

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Reminders
COBRA Benefits Expanded

President Barack Obama on (Dec. 21) signed a measure to extend a federal subsidy for continued health-insurance coverage for involuntarily terminated workers under employer group plans. The law extends the subsidy an additional six months for a total of 15 months, up from the current nine. The subsidy applies only to workers let go by employers. Under COBRA, the Consolidated Omnibus Budget Reconciliation Act, severed workers can stay on their employer's group health plan for up to 18 months, or longer in some circumstances, provided they pay the full premium plus an administrative fee. With the subsidy, terminated workers pay 35% of the premium. Eligibility for the subsidy had been due to expire on Dec. 31 but has been extended to workers laid off between Jan. 1 and Feb. 28, 2010, in addition to those let go between Sept. 1, 2008, and Dec. 31, 2009, under the original program. The bill requires employers to notify current and future COBRA participants of the extended 15-month eligibility. For questions about COBRA, call the U.S. Department of Labor at (866) 444-3272 or visit www.dol.gov/cobra.
Source: The Wall Street Journal

Editor’s note: Dealers with former employees and certain beneficiaries eligible for continuing health insurance coverage may need to issue a new COBRA notice indicating that they may be eligible for a 65 percent reduction in premiums and that the subsidy was extended. Individuals who reached the end of the reduced premium period before the legislation extended it to 15 months will have additional time to pay the reduced premiums related to the extension. To continue their coverage, they must pay the 35% of premium costs by the later date of Feb. 19, 2010, or 30 days after notice of the extension is provided by their plan administrator. Click here for the NADA COBRA fact sheet.

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EPA Hazardous Air Pollution Rule Requires Existing Auto Body Shops to File 'Initial Notification Form' by Jan. 11

The Environmental Protection Agency’s (EPA) rule governing hazardous air pollutants (HAPs) requires existing body shops to file an Initial Notification Form by Jan. 11, 2010. Full compliance, due by Jan. 11, 2011, requires that dealership body shops:

1.  Paint only inside filtered, ventilated paint booths or prep stations.
2.  Use high transfer efficiency application equipment.
3.  Clean guns with non-hazardous solvents, in gun-enclosed washers, or using a method that does not involve atomized spraying to the open air. 
4.  Have painters trained and certified every five years.
5.  Keep basic records demonstrating compliance.

The rule also:
1.  Allows a shop to petition for an exemption if it does not spray coatings with any of the above-listed HAPs of concern.  
2.  Excludes the spraying of coatings from hand-held guns with paint cups of 3.0 fluid ounces or less.

Also, paint stripping involving methylene chloride (MeCl) is significantly regulated for shops using more than one ton of MeCl per year. Where possible, body shops should avoid the use of strippers containing MeCl.

For more information, see the bulletin and forms at www.nada.org/bodyshop (log in required). Additional info will be available at NADA University early next year. Questions on the new rule may be directed to NADA Regulatory Affairs at regulatoryaffairs@nada.org or (703) 821-7040.
Source: NADA Newswire

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FTC Issues New 'Optional' Model Privacy Notice

As part of a statutory mandate to develop a more understandable template for privacy notices issued by dealers and other financial institutions, the Federal Trade Commission and the federal banking regulatory agencies have jointly issued a new model privacy notice that, beginning Dec. 31, 2009, will serve as a safe harbor for the language used in the notice for financial institutions that choose to adopt it. Dealers who continue to provide their finance and lease customers with a privacy notice that uses language from the sample clauses contained in Appendix A to the text of the original Privacy Rule (which required compliance by July 1, 2001) will lose safe harbor protection for the language used in those notices after Dec. 31, 2010. Accordingly, dealers should consider transitioning to the new notices before the end of 2010. For additional information, see NADA's announcement of this amendment to the FTC Privacy Rule at www.nada.org/regulations (click on "Search Regulatory Topics by Government Agency" and then click on "GLB Act: Privacy Rule" under Federal Trade Commission).
Source: NADA Newswire

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Video Highlights
 

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


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


 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?

NADA’s new online matchmaking program networkNOW! can connect you to nearly 400 exhibitors in 30 product categories, set up appointments and even create your own floor plan route at the convention. Access networkNOW! with the “Ecode” and Web address you received after registering. Once your profile is submitted, networkNOW! works 24/7 to match you with products and services that can help improve your business. And don’t forget, dealers and managers will receive a $200 voucher to spend on the expo floor. Register today! For more information, contact expo@nada.org.

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


 

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