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Friday, May 28, 2010 RSSSEND TO A FRIENDPRINT
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Top Stories
Obama Administration Wants Auto Dealers Subject to New Oversight
Sunny Holiday Car Sales Forecast
Automakers Rely More on 0% Financing to Close Deals
Dealers Brace for Ford to Phase Out Mercury
Zimmer Motors Regains Chrysler-Jeep Dealership
FTC Extends Enforcement Deadline for Identity Theft 'Red Flags' Rule through Dec. 31, 2010
Applications for the 2010 ENERGY STAR for Small Business Awards Due June 1
Top Stories
Obama Administration Wants Auto Dealers Subject to New Oversight

WASHINGTON -- The Obama administration stepped up its rhetoric (Thursday) opposing efforts by the nation's 18,000 auto dealers to win an exemption from new oversight. (Read more)
Source: The Detroit News

Editor's note: With Congress home until June 6 for the Memorial Day recess, dealers must make a strong effort to meet in-person with their representative and senators to ask them to urge their colleagues on the House-Senate Conference Committee to retain the auto dealer language in the final Wall Street reform bill. Dealers should explain that the Brownback/Campbell auto dealer language is the pro-consumer way to keep auto credit affordable and accessible. Unnecessary and burdensome rules will drive up the cost of financing a vehicle and may limit access to credit for some. Dealer-assisted financing is already effectively regulated and had nothing to do with the financial crisis. For more information visit: www.NADA.org/KeepCreditAffordable.

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Sunny Holiday Car Sales Forecast

Vehicle purchases usually kick into gear over long weekend
Memorial Day weekend could mean big sales for car dealers around the country. (Read more)
Source: The Detroit News

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Automakers Rely More on 0% Financing to Close Deals

On this Memorial Day weekend, one of the biggest three-day sell-a-thons of the year for auto dealers, shoppers are being offered zip, nada, nothing — at least when it comes to interest rates. (Read more)
Source: USA TODAY

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Dealers Brace for Ford to Phase Out Mercury

DETROIT -- The Ford Motor Company is expected to tell dealers this fall that it is phasing out Mercury, a 71-year-old brand that will be down to just two models by next year. (Read more)
Source: The New York Times

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Zimmer Motors Regains Chrysler-Jeep Dealership

Zimmer Motors in Florence (Ky.) has won reinstatement as a Chrysler Jeep dealer. (Read more)
Source: The Cincinnati Enquirer

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FTC Extends Enforcement Deadline for Identity Theft 'Red Flags' Rule through Dec. 31, 2010

At the request of several Members of Congress, the Federal Trade Commission (FTC) is further delaying enforcement of the "Red Flags" Rule through Dec. 31, 2010, while Congress considers legislation that would affect the scope of entities covered by the rule. Keep in mind, the FTC has indicated that if Congress passes legislation limiting the scope of the "Red Flags" Rule with an effective date earlier than Dec. 31, 2010, the FTC will begin enforcement as of that effective date. Click here for more details.
Source: FTC   

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Applications for the 2010 ENERGY STAR for Small Business Awards Due June 1

As a reminder, the 2010 ENERGY STAR Small Business Awards are open to any dealership that has increased the energy efficiency of its facility through energy management improvements during the last two years. Preference will be shown to businesses that have used ENERGY STAR tools and resources to achieve success. Auto dealers have a strong track record in the competition. The application deadline is Tuesday, June 1. Click here for the flyer. Click here for the application.
Source: EPA

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Quotable
 
"The sun is forecast to shine over most of the country, and it's a holiday weekend – both bode well for dealers."

    -- Paul Taylor, NADA chief economist, referring to the Memorial Day weekend, which could mean big sales for car dealers around the country, The Detroit News, May 28
Video Highlights
 

Senate: Exempt Dealers from Wall Street Reform Bill (NADA-TV)


Sen. Brownback at May 19 News Conference (NADA-TV)


Car Dealers and Wall Street Reform? (CNN)


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


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

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