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Top Stories
NADA Urges Senate to Accept House Offer on Dealer Language, Oppose Senate Modifications
Dealers' Bid for Regulatory Exemption Gains Strength With Latest Vote
Finance Panel Leaders Roll Out 'Bonus Depreciation' Extension Measure
2 Colorado Chrysler Dealers Win at Arbitration
Dealer Sues Chrysler, Claiming Terms for Reinstatement Violate Arbitration Law
Latest Buyer Lure: Free Auto Maintenance
Top Stories
NADA Urges Senate to Accept House Offer on Dealer Language, Oppose Senate Modifications

This evening, Senate conferees on the Wall Street reform bill are expected to consider modifications to the House's offer on Wall Street reform, which reflects the Brownback/Campbell language supported by NADA. NADA opposes any Senate modifications to the House offer on dealer-assisted financing because they would create a completely new approach that would subject automobile dealers to a dramatic increase in regulatory oversight and uncertainty at the Federal Trade Commission. NADA has sent a letter to conferees expressing its strong opposition. (Click here to read NADA's letter.) Dealers should call their senators, especially members of the conference committee, to express opposition to these modifications. (Click here for a list of phone and fax numbers of Senate conferees).
Source: NADAFrontPage.com

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Dealers' Bid for Regulatory Exemption Gains Strength With Latest Vote

WASHINGTON -- Dealers’ hopes for an exemption from oversight by a proposed consumer finance agency got another boost today when House negotiators narrowly defeated an amendment that would have subjected dealers to limited review by the agency. The 10-9 vote preserves the House proposal to exclude dealers from oversight by a Federal Reserve unit that would be set up to regulate mortgages, credit and debit cards and other consumer financial products. Today’s amendment, submitted by Illinois Democrat Luis Gutierrez, would have given the consumer agency authority over dealers. The new agency would have been able to ask the Federal Trade Commission, which currently oversees dealers, to investigate if the Federal Reserve unit found dealer abuses. (Read more)
Source: Automotive News

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Finance Panel Leaders Roll Out 'Bonus Depreciation' Extension Measure

The Senate’s top two tax writers have unveiled small-bore, targeted legislation that would extend an expired stimulus tax break for small businesses. (Read more)
Source: CQ

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2 Colorado Chrysler Dealers Win at Arbitration

Two Denver-area auto dealers that Chrysler Group LLC had sought to drop as part of a massive reorganization have won at arbitration, the automaker said Monday. (Read more)
Source: The Associated Press

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Dealer Sues Chrysler, Claiming Terms for Reinstatement Violate Arbitration Law

WASHINGTON -- In the first lawsuit of its kind, a closed Missouri dealership that prevailed in arbitration over Chrysler Group claims that it received a letter of intent that violates the federal dealer arbitration law. (Read more)
Source: Automotive News

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Latest Buyer Lure: Free Auto Maintenance

After years of touting cars with tire-screeching performance, miserly gas mileage or big rebates, automakers are increasingly trying to lure customers with less dramatic free oil changes and wiper blades. (Read more)
Source: USA TODAY

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Quotable
 
"Dealers and dealership employees must urge all conferees to accept the House’s language regarding dealer-assisted financing which continues the existing and effective regulation, and which currently provides consumers with competitive auto financing choices."   

     -- David Regan, NADA vice president of legislative affairs, on today's likely decision on whether auto dealers will be included in oversight under new federal financial reform legislation, NADA, June 22

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'

New Learning Hub Webinar June 23: Mastering Social Media

Social media and online marketing—it’s time to get beyond the buzz and learn the practical solutions you can and MUST use to manage your online presence. Speaker Jared Hamilton’s workshop was among the highest attended at NADA convention for a reason: he helps you make sense of it all.

“Advanced Online Thinking for Dealership Leaders” will be presented Wednesday, June 23, from 1:00 to 3:00 p.m. (Eastern). Click here to register.


Social Media for Dealership Marketing

The NADA Information Technology Committee wants to show dealers how social media sites can benefit them.  The Committee suggests that dealers review the publications available on NADA's Web site. One, “Social Media Best Practices for Automotive Dealers,” describes how social media sites function and what dealership marketing functions they provide. Dealers could gain additional insight on the topic by reading “Six Ways to Get Business Value from Social Software” from socialtext.com. Links to both articles are available www.nada.org/Technology.

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