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Top Stories
Toyota's Lentz, After Months of Grilling, Scheduled to Speak at NADA Next Year
Ahead of the Bell: July US Auto Sales Seen Rising
Parties Play Politics With Unpopular Tax Measure
Geithner Pledges Quick Action on New Financial Law
BMW Posts Biggest Profit in 2 1/2 Years on 5 Series
Non-Chrysler Dealers May Get Fiat Franchises
Release of Toyota Documents Blocked, Ex-Official Says
Top Stories
Toyota's Lentz, After Months of Grilling, Scheduled to Speak at NADA Next Year

The past year has been extraordinary for Toyota Motor Corp. Some 11.2 million Toyota and Lexus models have been recalled worldwide for safety and quality issues. Jim Lentz, president of Toyota Motor Sales U.S.A., has been the automaker’s public face through much of it. For months, he’s been grilled by safety advocates, regulators, Congress and journalists. Early next year, he’ll face a friendlier crowd when he is scheduled to be the keynote speaker during the National Automobile Dealers Association convention in San Francisco. (Read more)
Source: Automotive News

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Ahead of the Bell: July US Auto Sales Seen Rising

U.S. car buyers were back in the market last month. Analysts are expecting July to be the best month for U.S. auto sales since last August, when the government's Cash for Clunkers program caused a sales boom. (Read more)
Source: The Associated Press

Editor’s note: The following is a statement from Paul Taylor, NADA chief economist, in regards to the upcoming sales reports: “Sales of new vehicles in July and August 2010 compared to the same months last year must be taken with caution because ‘Cash-for-Clunkers’ caused a slight spike in new vehicle sales in July 2009 and a large spike in August 2009. That August, the SAAR was 14.1 million units. The very scant inventory at the end of August 2009 with 29 days supply contrasted with the 60 days at the end of August 2008 and resulted in very low sales last September. As a result, August 2010 may be portrayed as under-performing and September 2010 as over-performing if the special impact of the ‘clunkers’ program in 2009 is not taken into account. July 2010 sales could possibly reach 12 million units as an annualized pace when sales numbers are announced later today. Outperforming the SAAR of over 14 million in August 2009 seems unlikely, even as the market continues to improve with both 2010 and 2011 model year vehicles available to customers this month.”

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Parties Play Politics With Unpopular Tax Measure

WASHINGTON -- Tucked into the new health-care law is a requirement that could affect nearly 40 million businesses: They must file tax forms for every vendor that sells them more than $600 in goods. The House rejected a bill Friday that would have repealed the provision. The two parties disagreed on how to make up the lost revenue. (Read more)
Source: The Associated Press

Editor's note: NADA is on record in support of Sen. Mike Johanns’ effort to repeal the new 1099 form requirement. Click here to view the letter.

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Geithner Pledges Quick Action on New Financial Law

Treasury Secretary Timothy Geithner pledged on Monday to move with speed to implement the biggest overhaul of the financial system since the Great Depression. He said that a top priority will be simplifying the complicated forms that consumers have to fill out to get credit cards, auto loans and mortgages. (Read more)
Source: The Associated Press

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BMW Posts Biggest Profit in 2 1/2 Years on 5 Series

Bayerische Motoren Werke AG, the world’s biggest manufacturer of luxury cars, reported the biggest profit in 2 1/2 years after demand for the new 5 Series surged and sales advanced in China and the U.S. (Read more)
Source: Bloomberg

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Non-Chrysler Dealers May Get Fiat Franchises

Some non-Chrysler Group dealers may receive franchises to sell Fiats, said Sergio Marchionne, CEO of Fiat and Chrysler. (Read more)
Source: Automotive News

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Release of Toyota Documents Blocked, Ex-Official Says

DETROIT — Senior officials at the U.S. Department of Transportation have at least temporarily blocked the release of findings by auto-safety regulators that could favor Toyota Motor Corp. in some crashes related to unintended acceleration, according to a recently retired agency official. George Person, who retired July 3 after 27 years at the National Highway Traffic Safety Administration, said in an interview that the decision to not go public with the data for now was made over the objections of some officials at NHTSA. (Read more)
Source: The Wall Street Journal

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Quotable
 
"Toyota has certainly been through some ups and downs this year. And Jim Lentz has been through it all."

   
-- Jack Caldwell, a Toyota-Scion dealer in Arkansas and chairman of NADA’s convention committee, referring to Toyota's Jim Lentz, who will be a keynote speaker at the NADA convention in San Francisco next February, Automotive News, August 2
Video Highlights
 

TARP Inspector General Barofsky on Dealer Closures
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NADA University: 'We Build Champions'

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NADA DATA 2010 Now Available




Online Registration for 2011 Convention & Expo Now Open!

Early registration and housing for the 2011 NADA Convention & Expo is officially open! Join your peers in San Francisco, Feb. 5-7. There are many new and exciting workshops, speakers and exhibitors. Click here to register. For daily updates, find us on Facebook, Twitter and LinkedIn!


 
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Lenovo Offers August Specials

NADA members and their staff can now save an additional 5 percent off the sale price of ThinkPad T510, ThinkPad L512 and ThinkPad Edge 15 and 10 percent off the sale price of the ThinkPad W510. Use eCoupon USXBACK2SCHOOL at checkout. This limited-time offer expires Aug. 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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