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Monday, June 13, 2011 RSSSEND TO A FRIENDPRINT
Top 5 Stories
Ally Partners with TIME on Prestigious Dealer of the Year Honor
New Study Throws Water on Obama Fuel-Economy Goals
Toronto-Dominion Is Ahead of Target Signing Up Car Dealerships for Loans
Lincoln's $1 Million Makeover Ultimatum
Charitable Foundation: Boston Dealer Creates 'Family Ambassadors of Distinction'
Click here for NADA's online newsroom at NADAFrontPage.com.
Top 5 Stories
Ally Partners with TIME on Prestigious Dealer of the Year Honor

Charitable contributions planned to improve local communities

Ally Financial Inc. has been named the exclusive sponsor of TIME Dealer of the Year. As part of Ally’s efforts to improve local communities, the company plans to make $60,000 in charitable contributions to local community causes. “We’re pleased that Ally is taking such an enthusiastic role in the TIME Dealer of the Year awards program,” said NADA Chairman Stephen W. Wade. "Ally is to be commended for its decision to support so many dealers by making significant contributions to their charities of choice."
Source: NADAFrontPage.com

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New Study Throws Water on Obama Fuel-Economy Goals

A new report says the Obama administration's proposed 62 mpg fuel-economy target for 2025 could kill hundreds of thousands of jobs, put a $55,000 sticker on an ordinary family car and deliver only minor savings to consumers. “The changes are so radical for the vehicle to make these (2025) standards, we will have to completely and utterly redesign the body and chassis, supply chain and fabrication,” [says one of the study’s authors, Sean McAlinden, Center for Automotive Research (CAR) chief economist and vice president of research.] CAR says the study was completely self-funded.
Source: WardsAuto.com

NADA Statement: If fuel economy standards are set too high or kick in too soon, dealers will be forced to stock vehicles with unduly high prices that will fail to meet consumer demand. The real question is whether new car shoppers will be willing and able to pay for future fuel economy improvements or choose to drive their current vehicles longer or turn to the used vehicle market.

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Toronto-Dominion Is Ahead of Target Signing Up Car Dealerships for Loans

Toronto-Dominion Bank (TD), Canada’s second-largest bank, said its new auto-lending unit is about 25 percent ahead of targets for signing agreements with U.S. car dealers. Toronto-Dominion acquired Chrysler Financial Corp. for about $6.3 billion in April and planned on having about 5,000 dealers in its network. “In the last 70 days, we’ve been able to sign up about 25 percent more dealers than just the 5,000,” TD Auto Finance President and Chief Executive Officer Thomas Gilman said [Friday] in a telephone interview.
Source: Bloomberg

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Lincoln's $1 Million Makeover Ultimatum

Large-market dealers urged to renovate or step aside

Ford Motor Co. is turning up the heat on Lincoln dealers to spend at least $1 million to renovate showrooms within the next two years. The process of rebuilding Lincoln starts now, Ford CEO Alan Mulally told dealers at a Detroit meeting last week. Owners of Ford-Lincoln duals are expected to spend about $1.9 million to remodel, dealers who went to the meeting say. If dealers do not invest in renovations, Ford says it will seek to take back their franchises in exchange for compensation.
Source: Automotive News

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Charitable Foundation: Boston Dealer Creates 'Family Ambassadors of Distinction'

For a quarter of a century, Boston dealer Ray Ciccolo has inspired business owners across the country to give back a piece of their success through philanthropic efforts. Now, as he prepares to pass his dealerships on to the next generation, Ciccolo has instilled those same values in his children and grandchildren as Ambassadors of the National Automobile Dealers Charitable Foundation. "My approach to life is simple – reach out and step up," says Ciccolo.
Source: NADAFrontPage.com

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More articles

June 10, 2011 - GM Expands Chevrolet Volt Orders to All 50 States, Lowers Price

June 9, 2011 - SUVs Safer Than Ever, But Small Cars Still Perilous

June 8, 2011 - Akerson: GM Strong After 'Rebirth' in Bankruptcy, But Challenges Remain

June 7, 2011 - GM's Akerson Pushing for Higher Gas Taxes

June 6, 2011 - Texas Dealer, Former NADA President Ramsay Gillman Dies at 67

 
Videos

Video: Disaster Relief for Dealership Employees (NADA-TV)

 Mercedes Enrolls in NADA U (NADA-TV)

 Video: Dealers Eye Consumers in 'Scramble' for Used Cars (AutoFocus)

Quotable
"Ally is to be commended for its decision to support so many dealers by making significant contributions to their charities of choice."

    -- Stephen W. Wade, NADA chairman, on today's announcement that Ally was named the exclusive sponsor of TIME Dealer of the Year and will make $60,000 in charitable contributions to local community causes, NADAFrontPage.com, June 13

Marketplace
Webinar: “Dealership Valuation for Estate and Succession Planning,” June 16 at 1 p.m. EDT

Free Webinar: “Boost Your Revenue in Today's Transparent Used Car Market,” June 21 at 12 p.m. EDT 

Dealer Executive Education at Babson College August 2011 Class Forming Now

HP's Built-in Connectivity at Your Fingertips

Lenovo's June Savings

Foundation News
NADA Foundation Program Reaches 500th Ambassador
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