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Wednesday, Dec. 14, 2011 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
  
Inside this issue
Auto Lending Rebound to Continue
China to Impose Duties on U.S.-Imported Cars
Feds Urge States to Ban Texting, Talking on Roads
Business Groups Push for Investment Write Off in Payroll Tax Deal
Chrysler Reopens Detroit Plant in Preparation for Next Viper
Vehicle Sales Jump as Shoppers Ditch Old Cars
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Auto Lending Rebound to Continue

The lending environment for automotive loans is getting better for consumers, and fewer people are paying their auto loans late, according to the latest data from TransUnion, one of the nation's leading consumer credit companies. "Auto loan delinquencies have stabilized and are down to near record-low levels," Peter Turek, automotive vice president in TransUnion's financial services business unit, told the Free Press. What's more, Turek predicted that banks and auto loan financing companies will be competing even more fiercely for new business next year.
Source: Detroit Free Press

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China to Impose Duties on U.S.-Imported Cars

China announced plans to impose anti-dumping duties on some vehicles imported from the U.S. after failing to block a U.S. tariff on Chinese tires.  Punitive duties will be as high as 12.9 percent for autos from General Motors Co. and 8.8 percent for Chrysler Group LLC, China’s commerce ministry said today on its website. The U.S. units of BMW and Daimler AG will face duties of 2 percent and 2.7 percent respectively, it said.
Source: Bloomberg

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Feds Urge States to Ban Texting, Talking on Roads

Ren Bishop is one of many American drivers who texts, tweets and talks on her cellphone while she's behind the wheel - and thinks it should be up to drivers to use their discretion when it comes to safety. The National Transportation Safety Board disagrees, and it declared Tuesday that texting, emailing or chatting while driving is simply too dangerous to be allowed anywhere in the United States. The board is urging all states to impose total bans except for emergencies following recent deadly crashes, including one in Missouri after a teenager sent or received 11 text messages within 11 minutes.
Source: The Associated Press

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Business Groups Push for Investment Write Off in Payroll Tax Deal

Business advocates, applauding the inclusion of a capital investment provision in the House GOP payroll tax proposal, are now trying to make sure it stays in any final deal. With Republicans and Democrats still taking potshots at the other’s plan, those advocates acknowledge that the finished product for a year-end deal extending the payroll tax cut has yet to be hammered out... [T]he capital investment provision, also called 100 percent bonus depreciation and one of the few tax proposals in the GOP plan, has support from lawmakers in both parties and a wide range of business groups.
Source: The Hill

Editor’s note:
The current levels for expensing certain qualifying business equipment are set to decrease at the end of the year. Republicans, Democrats and the larger business community support the extension of this tax provision, which is included in a tax package that passed in the House last night. However, the bill has a less certain future in the Senate. NADA will keep dealers informed as the measure continues through Congress. To better understand the benefits of these tax provisions, click here.

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Chrysler Reopens Detroit Plant in Preparation for Next Viper

Chrysler Group said [Wednesday] that it has reopened its shuttered Conner Avenue assembly plant in Detroit to produce the next generation of the SRT Viper sports car starting in late 2012. The plant was idled in July 2010 when Viper production ceased. The next-generation Viper will be a 2013 model, Chrysler said. "We're extremely excited that our ultimate American sports car will continue to live on and be produced exclusively here in the Motor City," said Ralph Gilles, president of the SRT brand and motorsports for Chrysler Group.
Source: Automotive News

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Vehicle Sales Jump as Shoppers Ditch Old Cars

Like so many people these days, Jade Tolentino had been meaning to buy a new car for quite some time but couldn't quite swing it. Then, in February, she got a cashier and receptionist job at Bakersfield's Mazda and Mitsubishi dealerships. Within a couple of months she was promoted to a contract and payables position. Finally on solid financial ground, she used her employee discount and financed a brand-new 2011 Mitsubishi Outlander Sport a few days before Thanksgiving. Much to the relief of local new car dealers, stories like hers have become more common lately -- both in terms of new hires and consumers replacing older cars. The chief economist at the National Automobile Dealers Association, Paul Taylor, noted that a shortage of used cars has played a role in the new vehicle sales surge.
Source: The Bakersfield Californian

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The NADA Story

The NADA story began in 1917 when 30 auto dealers traveled to the nation’s capital to convince Congress not to impose a luxury tax on the automobile. They successfully argued that the automobile is a necessity of American life, not a luxury. From that experience was born the National Automobile Dealers Association. Today, NADA represents nearly 16,000 new-car and -truck dealerships with 32,500 franchises, both domestic and international.

 
Quotable

"We're not here to win a popularity contest. No email, no text, no update, no call is worth a human life."

    -- Deborah Hersman, chair of the National Transportation Safety Board, which is urging all states to impose total bans texting, emailing or chatting while driving except for emergencies, The Associated Press, Dec. 14




NADA - National Automobile Dealers Association
Videos


 Economic Report from NADA Chief Economist Paul Taylor
(AutoFocus)

Ford's Czubay on Fuel Economy and Consumer Choice  (AutoFocus)

NADA Used Car Guide October Market Update (AutoFocus)

 More Videos

Chairman's Column
2012 Convention on Pace to Be Biggest Since 2008

Congress Members: 'Time Out' Needed on Fuel Economy Regulation

Study Takes a Look at ROI of Factory Image Programs

Convention news
Wade: Make Your Plans Today to Attend the 2012 NADA-ATD Convention & Expo

Have you made your plans to attend the 2012 NADA-ATD Convention & Expo in Las Vegas? NADA Chairman Stephen Wade says every dealer should attend. "There's no better way to catch up on the latest innovative technologies than by visiting the expo hall," says Convention Chairman Rick Morrison. Click here to hear from Wade, Morrison and ATD Convention Chairman David Yglesias on why you should register today.



Exhibitor Update

Click here for the latest news on first-time exhibitors.

Foundation news
NADA Foundation Ambassador Peter Blackstock Supports California School

Iraq War Veteran, Disabled Child Receive Canine Companions from the NADA Foundation

NADA Foundation: Ambassador Supports American Red Cross

Marketplace
New NADA Mobile App for iPhone and iPad

HP's Inventory Blowout

Lenovo's New December Deals

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