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Top Stories
Auto Dealers Could See New Financial Regulations
Ford Extends Deadline for Mercury Dealer Appeals
Accelerating Auto Sales on Strategists' Radar
Estate Tax Might Be Added to Senate Small-Business Bill
Retail Sales in U.S. Fall as Consumers Boost Savings
US Senate Defeats Move to Stop EPA CO2 Regulation
Volkswagen Sales Rise 8.6% in May on Higher U.S., China Demand
Treasury: GM Will Pick Timing of Stock Offering
GM Backs Away From Chevy Memo
Top Stories
Auto Dealers Could See New Financial Regulations

Congress on Thursday began working on a final version of sweeping financial reform legislation that could subject auto dealerships to regulation by a new consumer financial protection agency. If the measure survives, dealers' F&I (finance and insurance) staff would be regulated like bankers and mortgage brokers. (Read more)
Source: USA TODAY

Editor's Note: Next week major decisions will likely be made by conferees about the future of dealer-assisted financing. To make an immediate impact, dealerships should fax, not mail, letters to conferees on dealership letterhead urging them to support keeping the pro-consumer Brownback/Campbell language in the final Wall Street reform bill. Conferees are under immense pressure to eliminate language preserving auto financing as a convenient and competitive choice for consumers at dealerships. The fax should stress that dealerships and auto loans had nothing to do with the meltdown of the financial industry and neither presents a “systemic risk” to the national economy. Dealerships should explain that the uncertain regulatory structure of a new agency risks local jobs, threatens vehicle sales and increases the cost of credit for consumers. For a list of conferees and their fax numbers, visit www.NADA.org/KeepCreditAffordable.

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Ford Extends Deadline for Mercury Dealer Appeals

DETROIT -- Ford Motor Co. is extending the deadline for Mercury dealers to appeal cash offers designed to compensate them for the demise of the brand. (Read more)
Source: Automotive News

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Accelerating Auto Sales on Strategists' Radar

The Dow Jones surging past 10,000? The U.S. Treasury yield curve steepening? Falling jobless claims? Or busier restaurants? There are certain indicators tracked by economists and strategists to judge whether the U.S. economy is improving. But what about rising U.S. auto sales? (Read more)
Source: Reuters

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Estate Tax Might Be Added to Senate Small-Business Bill

A small-business bill coming soon to the Senate floor could provide the catalyst for a big issue: the long-awaited debate over the future of the estate tax. (Read more)
Source: Congressional Quarterly

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Retail Sales in U.S. Fall as Consumers Boost Savings

Sales at U.S. retailers unexpectedly dropped in May, signaling consumers boosted savings as employment slowed and stocks fell. (Read more)
Source: Bloomberg

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US Senate Defeats Move to Stop EPA CO2 Regulation

The U.S. Senate on Thursday killed legislation that would have stripped the Environmental Protection Agency's power to regulate greenhouse gas emissions from large factories, electric power companies and automobiles. (Read more)
Source: Reuters

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Volkswagen Sales Rise 8.6% in May on Higher U.S., China Demand

Volkswagen AG, Europe’s largest carmaker, said sales increased 8.6 percent in May helped by growing demand in China and the U.S. Deliveries at Volkswagen’s seven car brands and commercial-vehicles unit rose to 604,200 from 556,500 a year earlier, the Wolfsburg, Germany-based company said today in an e-mailed statement. (Read more)
Source: Bloomberg

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Treasury: GM Will Pick Timing of Stock Offering

WASHINGTON -- General Motors Co., not the government, will determine when the automaker will conduct a public stock offering at the heart of the company's revival, the Obama administration said Thursday. (Read more)
Source: The Associated Press

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GM Backs Away From Chevy Memo

General Motors Co. on Thursday backed off a "poorly worded" internal memo that asked employees to refer to the brand only as "Chevrolet" in an effort to create consistency. (Read more)
Source: The Wall Street Journal

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Quotable
 
"Throughout this process, I have encouraged you and my Democrat colleagues to focus on the root causes and resist the urge to exploit the crisis to enact a wish list of extraneous special-interest provisions."

    -- Sen. Richard Shelby, the ranking Republican on the Senate Banking Committee, arguing the financial reform bill amounts to little more than “another grand Democrat experiment in Big Government and central management," POLITICO, June 11

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'
Need Help Understanding Social Media?

The NADA Information Technology Committee wants to help dealers learn what social media sites can do for them. The committee suggests dealers review any of the many publications available on nada.org.  One document from Adam Boalt titled, “Social Media Best Practices for Automotive Dealers” explains how social media sites function and what they might accomplish for a dealership. Dealers could also gain insight on the topic by reading “Six Ways to Get Business Value from Social Software” from socialtext.com. Links to both articles are at www.nada.org/Technology.


 

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. To see this promotion and all discounted products from HP, visit NADA's PC Purchase Program site (member log in required).


Save up to $700 with Lenovo

Lenovo is offering up to $700 off select PCs with its June promotion. Just use eCoupon USXDADSGRADS at checkout. To see this promotion and all discounted products from Lenovo, visit NADA's PC Purchase Program site (member log in required).


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