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Top Stories
Dems Pressure Pelosi on Consumer Protection in Wall Street Reform Bill
Ford to End Mercury Brand This Year, Expand Lincoln
NADA: Loss of Mercury a 'Sad Day'
Dealers Optimistic Because Lincoln Dominates Sales
Consumers Snap Up Cars in May, Despite Fewer Deals
F-series, Fusion Pace Ford's 22% Gain in May
GM's 17% Sales Gain Driven Mostly by Fleet Sales
Jobs Data Show Labor Market Improving
Fence-Mending Time at BMW
Top Stories
Dems Pressure Pelosi on Consumer Protection in Wall Street Reform Bill

Four House Democrats, including a key chairman, warned House Speaker Nancy Pelosi (D-Calif.) and House Majority Leader Steny Hoyer (D-Md.) against weakening a proposed Consumer Financial Protection Agency (CFPA) or housing it within the Federal Reserve, as is called for in the Senate-passed bill. (Read more)
Source: The Hill

Editor's Note: With Congress returning to Washington early next week, there are only a few remaining days for dealers to connect with conferees while they are at home. All dealers and their employees should urge the conferees to retain the Campbell/Brownback auto dealer language in the final Wall Street reform bill. Senate conferees are: Sen. Shelby (R-AL), Sen. Lincoln (D-AR), Sen. Dodd (D-CT), Sen. Chambliss (R-GA), Sen. Crapo (R-ID), Sen. Harkin (D-IA), Sen. Gregg (D-NH), Sen. Schumer (D-NY), Sen. Reed (D-RI), Sen. T. Johnson (D-SD), Sen. Corker (R-TN) and Sen. Leahy (D-VT). Likely House conferees are: Rep. Waters (D-CA), Rep. Gutierrez (D-IL), Rep. D. Moore (D-KS), Rep. Frank (D-MA), Rep. Maloney (D-NY), Rep. Meeks (D-NY), Rep. Watt (D-NC) and Rep. Kanjorski (D-PA). Dealers and their employees should remind Congress members that neither auto dealerships nor auto lending had anything to do with the financial crisis brought on by the burst of the housing bubble. Dealers do not underwrite, fund or service auto loans, but simply arrange competitive financing for their customers. Unnecessary and burdensome regulations will only make it harder and more expensive for those seeking auto credit. The existing regulators and stiff competition keep dealer-assisted financing an affordable option for car buyers from all walks of life. Representatives and senators can be reached through the Capitol Switchboard at 202-224-3121. Please contact NADA Legislative Affairs with any updates or feedback at 800-563-1556. More information can be found at www.NADA.org/keepcreditaffordable.

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Ford to End Mercury Brand This Year, Expand Lincoln

Ford will send letters to 1,712 Mercury dealers this week offering them buyouts and giving some the chance to merge the Lincoln half of their franchise with Ford showrooms ... (Read more)
Source: Bloomberg Businessweek

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NADA: Loss of Mercury a 'Sad Day'

“It’s a sad day for this 70-year-old marquee, and its loss is disappointing for the more than 1,700 dedicated dealers who sell the Mercury brand,” said NADA Chairman Ed Tonkin in a statement. (Read more)
Source: Washington Business Journal

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Dealers Optimistic Because Lincoln Dominates Sales

Paul Taylor, chief economist for the National Automobile Dealers Association, said there will be some efficiencies for dealers such as simpler parts inventories. The question is whether Mercury buyers will pay extra for Lincoln. (Read more)
Source: The Detroit News

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Consumers Snap Up Cars in May, Despite Fewer Deals

DETROIT -- Americans shrugged off fewer discounts and a scary stock market plunge last month, snapping up new automobiles and delivering another month of higher sales for carmakers. (Read more)
Source: The Associated Press

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F-series, Fusion Pace Ford's 22% Gain in May

DETROIT -- Hot F-series pickups and Fusion sedans boosted Ford Motor Co.'s May U.S. sales 22 percent to 196,671 light vehicles. (Read more)
Source: Automotive News

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GM's 17% Sales Gain Driven Mostly by Fleet Sales

DETROIT -- Sales to individual customers only increased 7 percent, while fleet sales increased 38 percent. Sales to fleets represented 38 percent of GM's sales last month and a third of GM's sales so far this year. (Read more)
Source: Automotive News

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Jobs Data Show Labor Market Improving

The number of workers filing new claims for jobless benefits fell last week, while private employers added jobs in May, further evidence the labor market was improving. (Read more)
Source: Reuters

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Fence-Mending Time at BMW

In the past few years, BMW has cut its dealer margin, slashed warranty labor reimbursement, made the bonus margin harder to earn, and changed programs with little communication, dealers say. And that has made them mad enough to continually downgrade BMW in NADA's Dealer Attitude Survey. (Read more)
Source: Automotive News

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Quotable
 
"NADA’s concern is that Ford treat each of its Mercury dealers fairly and equitably, especially the 276 who sell Lincoln and Mercury exclusively."

    -- NADA Chairman Ed Tonkin, in a statement following Ford's announcement that it will discontinue the Mercury brand in the fourth quarter, Washington Business Journal, June 3

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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