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Wednesday, May 19, 2010 RSSSEND TO A FRIENDPRINT
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Top Stories
Auto Dealers Try To Steer Clear Of New Regulations
Dealer Exemption in Financial Oversight Bill Altered to Address Military's Concerns
Harry Reid Scrambles to Save Wall Street Vote
White House Defends Auto Bailout
Michigan Lawmakers Discuss Auto Dealer Protections
Study Says U.S. Car Sales to Return to Pre-Recession Level
Toyota to Recall 11,500 Lexus Vehicles World-wide
Toyota Motor Pays $16.4 Million U.S. Safety Fine
Mercedes E-Class Investigated for Faulty Air Bags
Top Stories
Auto Dealers Try To Steer Clear Of New Regulations

In financial regulatory bills in Congress, some lawamakers are proposing a consumer financial protection agency. Only one constituency has made headway against it: auto dealers. (Read more)
Source: National Public Radio

Editor's Note: With a vote expected as early as today, dealers are urged to redouble their efforts to ask senators to vote in favor of the Brownback amendment. As senators better understand how the Brownback amendment benefits car buyers, support continues to grow. "The White House has launched an all-out assault against the amendment and is putting extreme pressure on senators," says Bailey Wood, NADA Legislative Affairs. "Dealers must counter this pressure by reminding senators that the Brownback amendment will keep auto loans affordable and accessible for all car buyers." Senators can be reached through the Capitol Switchboard at 202-224-3121. Click here for talking points on the Brownback amendment. Visit www.NADA.org/Brownback for more information.

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Dealer Exemption in Financial Oversight Bill Altered to Address Military's Concerns

WASHINGTON -- A Senate proposal to exempt car dealers from oversight by a proposed consumer protection agency has been changed to add a requirement that military families' complaints about dealers be monitored and shared by the new agency. (Read more)
Source: Automotive News 

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Harry Reid Scrambles to Save Wall Street Vote

Heading into a major test vote Wednesday on Wall Street reform, Senate Majority Leader Harry Reid (D-Nev.) scrambled Tuesday to prevent Democratic defections that could leave him short of the 60 votes needed to cut off debate. (Read more)
Source: Politico

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White House Defends Auto Bailout

WASHINGTON -- The White House's top economic adviser defended the $85 billion auto industry bailout Tuesday, saying the government may recoup most of its investment in General Motors Co. (Read more)
Source: The Detroit News

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Michigan Lawmakers Discuss Auto Dealer Protections

Michigan lawmakers are examining possible ways to help protect auto dealerships when financial trouble hits vehicle manufacturers. Committees in both the Senate and House were scheduled to discuss dealership-related legislation today. (Read more)
Source: The Associated Press

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Study Says U.S. Car Sales to Return to Pre-Recession Level

DETROIT — U.S. auto sales should reach 11.7 million new vehicles this year and may return to historic levels of near 17 million over the next two years, fueling more profitability for the more cost-efficient car companies and auto-parts makers, according to a new study. (Read more)
Source: The Wall Street Journal

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Toyota to Recall 11,500 Lexus Vehicles World-wide

TOKYO — Toyota Motor Corp. said Wednesday it will recall 4,500 Lexus vehicles in Japan to fix a computerized steering problem, with another 7,000 vehicles overseas also likely affected. (Read more)
Source: The Wall Street Journal

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Toyota Motor Pays $16.4 Million U.S. Safety Fine

WASHINGTON - Toyota Motor Corp has paid a $16.4 million fine to settle allegations by U.S. regulators the company was too slow to recall vehicles with defective accelerator pedals. (Read more)
Source: Reuters

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Mercedes E-Class Investigated for Faulty Air Bags

Daimler AG’s Mercedes-Benz E-Class cars are under investigation by U.S. regulators because air bags in the vehicles may not always deploy properly in crashes, the National Highway Traffic Safety Administration said. (Read more)
Source: Bloomberg

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Quotable
 
"In a time when we're trying to save our car companies, to make it more difficult for (dealers) to arrange financing for their customers makes no sense at all."

    -- Sen. Sam Brownback, R-Kans., sponsor of an amendment to the Senate Wall Street reform bill that would exclude dealer-assisted financing from new regulation, National Public Radio, May 19

Video Highlights
 

Car Dealers and Wall Street Reform? (CNN)


Call-to-Action on Brownback Amendment (NADA-TV)


Sen. Brownback Press Conference (NADA-TV)


NADA Chairman Says Dealers Are Not Banks (CBS Evening News) 


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

NADA Marketplace
 

NADA University: 'We Build Champions'


Wage & Hour, Healthcare Reform, and the Internet: May Webinars from NADA University

NADA University has three important webinars coming up this month. The first two, which are scheduled back-to-back, concern dealers' legal obligations. The third webinar is another in the MarketINSIGHT mini-webinar series: “Leveraging the Internet as an Influencing Medium." (Read more)

Red Flags Deadline Draws Near

With the revised June 1, 2010 enforcement date for the FTC "Red Flags" Rule rapidly approaching, NADA University has three ways you can find out if your dealership is adequately prepared. (Read more)


 
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).

 

Only $549 for HP’s ProBook 4415s Notebook

Isn't it time to replace your worn-out PC? NADA members can save $388 on HP’s ProBook 4415s Notebook PC while supplies last. Included are the new Windows® 7 Professional, a full 14.0-inch display and a full-sized keyboard. To see this promotion and all discounted products from HP, visit NADA's PC Purchase Program site (member log in required).

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