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Tuesday, May 4, 2010 RSSSEND TO A FRIENDPRINT
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Top Stories
Auto Industry Seeks a Pivotal Role in Debate Over Financial Regulations
U.S. Car Sales Up in April
GM Held Spot as Top-Selling U.S. Automaker in April
Toyota Renews U.S. Offers; Nissan Boosts Sales 35%
A Recovering GMAC Financial Posts First Profit Since 08
Committed to Community: Keys to Success in Danvers
NADA Marketplace
NADA University Offers Red Flags Help as June 1 Enforcement Date Draws Near
Top Stories
Auto Industry Seeks a Pivotal Role in Debate Over Financial Regulations

Auto manufacturers and dealers, along with their congressional allies, are emerging as key players in the Senate debate on overhauling the financial regulatory system, which is set to begin in full this week. (Read more)
Source: CQ Politics

Editor’s note: If S. 3217 becomes law in its current form, the creation of a new bureau would have broad and unprecedented authority to regulate dealer finance operations. The bureau’s vast power could impose costly, complex and unnecessary regulation on small businesses. If some or all dealerships cease to offer financing, the decrease in competition will result in consumers paying higher rates. Sen. Sam Brownback, R-Kan., has introduced an amendment that strikes the proper balance and preserves the ability of consumers to find affordable and competitive financing for their vehicle purchases. With a vote quickly approaching, dealers should contact their senators today and ask them to support the Brownback amendment, so that small business auto dealers and consumers are not unnecessarily swept into Wall Street reform. Senators can be reached through the Capitol switchboard at (202) 224-3121. For more information, visit www.nada.org/Brownback or call (202) 547-5500.

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U.S. Car Sales Up in April

Boosted by a rebounding economy, U.S. auto sales jumped 20% in April as several car makers, including hard-hit Chrysler Group LLC, posted sizable gains. (Read more)
Source: The Wall Street Journal

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GM Held Spot as Top-Selling U.S. Automaker in April

U.S. consumers bought nearly 1 million cars and trucks last month — an increase of 19.8% over the same month a year ago. (Read more)
Source: Detroit Free Press

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Toyota Renews U.S. Offers; Nissan Boosts Sales 35%

Toyota Motor Corp. extended discounts that brought back-to-back U.S. sales increases, and Nissan Motor Co. led the largest Asia-based carmakers’ gains for the second month in a row as U.S. auto demand continued recovering in April. (Read more)
Source: Bloomberg

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A Recovering GMAC Financial Posts First Profit Since 08

GMAC Financial Services, a lender majority-owned by the government, posted its first profit since the fourth quarter of 2008 as it starts to recover from billions of dollars lost on bad mortgages. (Read more)
Source: The New York Times

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Committed to Community: Keys to Success in Danvers

DANVERS, Mass. -- Two Danvers High School students were recently recognized in the Keys to Success program, offered by Ray Ciccolo’s Village Automotive Group. (Read more)
Source: Danvers (Mass.) Herald

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

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NADA Marketplace
NADA University Offers Red Flags Help as June 1 Enforcement Date Draws Near

With the revised June 1, 2010 enforcement date for the FTC Red Flags Rule rapidly approaching, dealers should ensure their required Identity Theft Prevention Programs (ITPPs) incorporate all of their covered accounts, include all relevant Red Flags, contain effective response and detection procedures, address all of the Rule’s other requirements, and are appropriately tailored to their particular operations. (Read more)
Source: NADA University

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Quotable
 
"We still remain very confident on the slow but moderate growth that we've seen for the industry."

     -- Bob Carter, Toyota's group vice president, on April auto sales, which were up 20 percent over last April's dismal numbers, The Associated Press, May 4

Video Highlights
 

Dealers to Senators: We Are Not Banks


CBS Evening News: NADA Chairman Says Dealers Are Not Banks


C-SPAN: Sen. Brownback on Need to Exclude Auto Dealers from Financial Reform

NADA Marketplace 
 

NADA University: 'We Build Champions'

 
Think Speed. Think Savings. Think Lenovo!

NADA members may now use eCoupon USXMAYSAVINGS for an additional 5 percent off the sale price of the T410, X201, Y Series IdeaPad and K Series IdeaCentre. To see this promotion and all discounted products from Lenovo
, visit NADA's PC Purchase Program site (member log in required).



Save on the HP Compaq 6000 Pro Business

Empower your business with a new HP Compaq 6000 Pro Business PC. With auto sales continuing to improve it’s important that your "power PC" in your F&I department and business office have the resources to keep up with growing demand. And – just as in automotive retail, HP is offering you 0% financing when you purchase any PC. To learn more about these and other HP specials, visit NADA's PC Purchase Program site (member log in required).


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