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Top Stories
Congressional Overhaul of Financial Regulation is Down to the Wire
Ford, Honda Discounts Drive Longest Streak of Gains in 10 Years
Consumers More Cautious About Spending in April
We Still Love SUVs, Just Smaller Ones
GM Return to Vehicle Lending is 'Critical,' Executive Says
Ford Fusion, Mercury Milan Probed for Mat Entrapment
Spyker to Double Dealerships by Offering Sports Cars at Saab
Top Stories
Congressional Overhaul of Financial Regulation is Down to the Wire

WASHINGTON -- The fate of the biggest overhaul of the nation's financial regulatory system in generations now rests with a small group of Capitol Hill lawmakers who are known for their ability to compromise. ... While both chambers favor the creation of an equivalent of the Consumer Product Safety Commission for consumer credit products such as mortgages, student loans and credit cards, they'd go about it differently. Also contentious is whether auto dealers should be subjected to the consumer panel's rules. The House bill exempted car dealers; the Senate bill didn't, but a majority of senators have voiced support for the exemption. (Read more)
Source: McClatchy Newspapers

Editor's Note: Opponents of the Brownback/Campbell language are stepping up their media and grassroots efforts and continue to misrepresent dealer-assisted financing in an attempt to strip out the auto dealer language in conference. With House and Senate members home for the Memorial Day recess until June 6, dealers and employees must make a strong effort to explain the consumer benefits of dealer-assisted financing to conferees on the Wall Street reform bill. (For the preliminary list of conferees click here). Dealers need to connect with ALL House members and senators and urge them to weigh in with the conferees. To arrange a meetings with representatives and senators, contact their local district offices or call their D.C. offices at 202-224-3121. Remind members of Congress that auto dealers do not underwrite, fund, or service auto loans but merely help consumers connect with a bank, credit union or finance company. The competition that dealer-arranged financing creates helps make auto loans more affordable.

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Ford, Honda Discounts Drive Longest Streak of Gains in 10 Years

Ford Motor Co., Honda Motor Co. and Nissan Motor Co. added rebates and discounts to attract buyers over the Memorial Day holiday weekend, driving what may be the longest streak of sales increases in almost 10 years. (Read more)
Source: Bloomberg

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Consumers More Cautious About Spending in April

WASHINGTON — Falling gas prices and cheaper utility bills could make people feel better about spending more over the summer. Paul Taylor, chief economist with the National Automobile Dealers Association, said auto sales should continue rising through the summer. (Read more)
Source: The Associated Press

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We Still Love SUVs, Just Smaller Ones

SUVs moved off dealer lots faster than any other type of vehicles from April 1 through May 19, according to the latest analysis by J.D. Power and Associates. (Read more)
Source: USA TODAY

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GM Return to Vehicle Lending is 'Critical,' Executive Says

Returning General Motors Co. to the auto lending business is a critical part of the company’s efforts to boost sales, said Kevin Williams, president of GM’s Canadian operations. (Read more)
Source: Bloomberg

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Ford Fusion, Mercury Milan Probed for Mat Entrapment

Ford Motor Co.’s Fusion and Mercury Milan cars are under investigation by U.S. regulators because floor mats may trap the accelerator pedals, the National Highway Traffic Safety Administration said. (Read more)
Source: Bloomberg

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Spyker to Double Dealerships by Offering Sports Cars at Saab

Spyker Cars NV, Saab Automobile’s owner, plans to almost double the number of dealers selling its high-end sports cars this year by offering them through Saab outlets, Chief Executive Officer Victor Muller said. (Read more)
Source: Bloomberg

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Quotable
 
"Almost all of the economic incentives are favorable to higher new car sales as the summer unfolds."

    -- Paul Taylor, NADA chief economist, predicting auto sales will continue to rise through the summer despite stalled consumer spending in April, The Associated Press, May 30

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)

NADA Marketplace
 

NADA University: 'We Build Champions'


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.


 

Savings from HP on a ProBook 4425s Notebook

NADA members can buy HP’s ProBook 4425s notebook for only $619. Add a 20” LCD Monitor and space-saving stand for a total of $972. This highly mobile notebook has a spill-resistant keyboard and wireless connectivity option for everyday use in or out of the office. 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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