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Top 5 Stories
NADA Urges Dealers to Call Senators to Support Compromise Tax Bill
Broad Support for Tax Compromise
14 Million in '11? It Could Happen
Technology Helps Dealerships Comply with Tough Regulations
Google to Share Results of Car Shopper Behavior Study at NADA Convention
Top 5 Stories
NADA Urges Dealers to Call Senators to Support Compromise Tax Bill

NADA Legislative Affairs is urging dealers to contact their senators today to support a procedural vote planned for this afternoon to advance the compromise tax bill introduced in the Senate last week. In a legislative alert sent to NADA members today, the association's legislative office is asking dealers to call their senators to urge them to vote for cloture on legislation introduced Thursday to extend the current personal tax rates for all income brackets for two years. The procedural maneuver requires 60 votes. The proposed legislation also includes several other measures that NADA supports, including:

  • The bipartisan "Lincoln-Kyl" estate tax compromise, which seeks to increase the per-spouse exemption to $5 million and reduce the top rate to 35 percent for 2011 and 2012. 
  • A provision to institute 100 percent bonus depreciation for capital expenses from Sept. 8, 2010, through calendar year 2011 and increase section 179 expensing levels.

Click here for the alert.
Source: NADA Legislative Affairs

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Broad Support for Tax Compromise

A compromise tax deal is expected to receive solid bipartisan support in the Senate on Monday, even without the backing of liberal Democrats and conservative Republicans. House leaders are likely to watch the Senate’s cloture vote on the bill — scheduled for 3 p.m. Monday — to gauge the strength of the coalition backing the deal reached between President Obama and Republicans last week. The next major decision facing Senate leaders is whether and how to amend the legislation. Congressional aides from both parties said Friday that process was still being worked out.
Source: Congressional Quarterly

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14 Million in '11? It Could Happen

Figure on a slow and steady recovery in U.S. auto sales next year -- a rise of about 10 percent, according to the consensus of analysts surveyed by Automotive News. But Morgan Stanley says consumer creditworthiness is improving so rapidly that lenders are about to loosen credit dramatically -- and that will rocket the market to 14 million units in 2011. "The catalyst is credit availability -- a bigger impediment to auto sales than tight inventories or low demand," says Ravi Shanker, Morgan Stanley's lead analyst for North America.
Source: Automotive News

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Technology Helps Dealerships Comply with Tough Regulations

The bad news is that from Jan. 1, dealers have to comply with the federal Risk-Based Pricing Rule -- a complicated law designed to help consumers with below-average credit scores shop for the best available credit terms. The good news is that the government has authorized a shortcut for compliance, and technology vendors are making compliance almost automatic. "This is an incredibly complex rule," says Michael Charapp, a McLean, Va., attorney who specializes in dealer issues. "I have been advising dealers to not even try to understand the rule. Simply make use of the alternate compliance method."
Source: Automotive News

Editor's Note: Because of the urgency of upcoming compliance deadlines, NADA University is providing members with direct access to two NADA U Driven guides: "A Dealer Guide to the FTC Privacy Rule" and the "Model Privacy Notice and A Dealer Guide to the Risk-Based Pricing Rule." Both guides are also available through NADA University, which includes learning objectives for each guide, as well as testing that you can administer to anyone in your dealership. To access these guides though NADA University: Sign in at www.NADAuniversity.com; Select Resource Toolbox; Click the "Driven" button; Select "Legal/Regulatory"; Select your guide.

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Google to Share Results of Car Shopper Behavior Study at NADA Convention

McLEAN, Va. – With nearly 90 percent of car buyers today using the Web to help make their purchasing decisions, it’s more important than ever for auto dealers to have an online presence, says Michelle Morris, director of Google’s Automotive Industry division in Detroit, Mich. “Whether it’s searching for local inventory, comparison shopping or finding directions to a local dealership, car shoppers are using the Web to find dealers,” says Morris, who will be presenting the workshop “Insights into Consumer Behavior” at the 2011 NADA Convention & Expo in San Francisco on Feb. 4, 5 and 6. It’s one of nine “Online Presence” workshops offered by NADA University at the convention.
Source: NADA Public Affairs

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Quotable
 
“Whether it’s searching for local inventory, comparison shopping or finding directions to a local dealership, car shoppers are using the Web to find dealers."

    -- Michelle Morris, director of Google’s Automotive Industry division in Detroit, Mich., who will be presenting the workshop “Insights into Consumer Behavior” at the 2011 NADA Convention & Expo in San Francisco, NADA Public Affairs, Dec. 13

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Happy Holidays From Lenovo!

Invest in a Lenovo ThinkPad with rock-solid reliability. NADA members and their staff can now save up to 40 percent on select ThinkPads using eCoupon USXDECSAVINGS at checkout. This offer expires Dec. 31. To learn more about this offer and other discounted Lenovo products go to NADA's PC Purchase Program site (member log in required). Check the site often for weekly specials!

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