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Top Stories
Watchdog Criticizes Treasury's Role in Auto Dealer Closures
NADA Statement on Study of Dealership Closings
Arbitration: 2 Companies, 2 Goals
Lenders Lobby for Friendly Face at New Consumer Agency
Chrysler: Five Star Out, Cash In
Mulally's Plan for Success at Ford: Keep It Simple
New, Lighter Ford Explorer Boosts Mileage
VW Invests Billions in U.S. Comeback Bid
Top Stories
Watchdog Criticizes Treasury's Role in Auto Dealer Closures

WASHINGTON -- A government watchdog criticized the Obama administration's push to close auto dealers quickly last year during bankruptcy proceedings for Chrysler and General Motors Corp., saying the accelerated process may have exacerbated job losses in the midst of a recession. (Read more)
Source: The Wall Street Journal

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NADA Statement on Study of Dealership Closings

WASHINGTON – In response to the report requested by Congress from the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) on how General Motors and Chrysler dealerships were selected for termination, Ed Tonkin, chairman of the National Automobile Dealers Association (NADA), issued the following statement:

“The SIGTARP report confirms what was said in NADA’s testimony presented to Congress in several hearings and to the Auto Task Force in multiple meetings: ‘We do not see how these cuts make economic sense – not for the companies, not for the dealers, not for local communities and certainly not for the struggling U.S. economy.’

“Similarly confirmed by the report was NADA’s unwavering position – also presented to Congress on multiple occasions – that ‘rapid dealer reductions increase unemployment, threaten communities and decrease state and local tax revenue without any material corresponding decrease in the automaker’s costs.

“Importantly, the Inspector General’s report also validates the Congressional efforts which gave thousands of dealers the opportunity to have a neutral arbitrator review their cases and possibly save thousands of jobs. 

“Finally, the report demonstrates what NADA has maintained for many years – that the franchised automobile dealership is and will continue to be the most powerful job-creating entity on Main Streets all across America and that NADA’s 17,000 members provide long-term economic opportunity for nearly 1 million Americans.”
Source: NADAFrontPage.com

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Arbitration: 2 Companies, 2 Goals

In the end, arbitrations set up by Congress for rejected General Motors and Chrysler dealers made a difference -- primarily for the larger automaker. GM took the bull by the horns and expanded its planned store network by at least 25 percent, adding grateful dealers that are raring to go. Chrysler, on the other hand, continues to battle arbitrating dealers every step of the way. (Read more)
Source: Automotive News

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Lenders Lobby for Friendly Face at New Consumer Agency

WASHINGTON -- As Congress passed legislation last week creating an agency to oversee banks, captive finance companies and credit unions that make auto loans, lobbyists geared up for the next battle -- over the presidential appointment of an agency director. (Read more)
Source: Automotive News

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Chrysler: Five Star Out, Cash In

DETROIT -- Chrysler Group is scrapping its Five Star dealer reward program in favor of cash incentives meant to encourage dealers to improve customer service, management and facilities. (Read more)
Source: Automotive News

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Mulally's Plan for Success at Ford: Keep It Simple

More than four years into its turnaround plan, Ford has not only exceeded many of its own goals, it is now breaking through as a global industry leader — especially on image and quality. (Read more)
Source: Detroit Free Press

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New, Lighter Ford Explorer Boosts Mileage

Ford Motor Co. will unveil a revamped Explorer later this month in a bet that a big, brawny sport-utility vehicle with improved fuel economy will sell. (Read more)
Source: The Wall Street Journal

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VW Invests Billions in U.S. Comeback Bid

Once the top import brand in the United States but now a bit player, Germany's Volkswagen AG is mounting a new attempt to push back Japan's entrenched carmakers and take a bigger slice of the American market. (Read more)
Source: The Detroit News

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Quotable
 
"Treasury made a series of decisions that may have substantially contributed to the accelerated shuttering of thousands of small businesses and thereby potentially adding tens of thousands of workers to the already lengthy unemployment rolls -- all based on a theory and without sufficient consideration of the decisions' broader economic impact."

    -- An audit by the special inspector general for the Troubled Asset Relief Program, which took the Obama administration to task for failing to sufficiently oversee dealership closures and weigh the broader economic impact of its decisions, The Wall Street Journal, July 18

Video Highlights
 

NADA University: 'We Build Champions'
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Online Registration for 2011 Convention & Expo Opens July 26

Mark your calendars. Registration and housing for the 2011 Convention & Expo Feb. 5-7 in San Francisco will open next Monday, July 26. Be among the first to register and  take advantage of our “early bird" rates and assure your pick of hotels! This year's event promises to be unsurpassed. For daily updates, find us on Facebook and Twitter!


 

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).


Hot Summer and Hot Savings from Lenovo

The ThinkPad Edge 14" laptop with Intel processor reduced from $984 is now only $591.89 using eCoupon USXSUMMERSAVINGS. NADA Members and their staff can also save an additional 5 percent off the award-winning ThinkPad T410, the Thin and light ThinkPad X201 and the New ThinkPad Edge 14. This offer ends July 31. 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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