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Inside this issue
NADA Nominates Next Slate of Officers
Company Settles FTC Lawsuit Over Positive Online 'Reviews' Without Proper Disclosure
GM Closing German Factory Seen Emboldening Others
NADA Predicts Used-Car Prices to Drop 3% in July
Feds Expand Gas Tank Fire Probe to 5 Million Jeeps
3 Hard Lessons Akio Toyoda Learned From Toyota's Debacle
Garsten Presents Peconic Bay Medical Center with Gift from Auto Dealers Foundation
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
NADA Nominates Next Slate of Officers

The National Automobile Dealers Association's board of directors has nominated David Westcott to be the group's chairman in 2013. The board also nominated Forrest McConnell III to be NADA's 2013 vice chairman. That places him in line for the chairmanship in 2014. Traditionally, the vice chairman is elected chairman for the following year.
Source: Automotive News

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Company Settles FTC Lawsuit Over Positive Online 'Reviews' Without Proper Disclosure

The FTC charged that a “data broker” called Spokeo violated Section 5 of the FTC Act by having its employees post positive recommendations of the company’s services online without disclosing their true identity. According to the FTC’s complaint, Spokeo directed its employees to write the comments in an alleged effort to give readers the misleading impression that the reviews had been posted by Spokeo customers. This practice is a violation of the FTC’s Endorsement Guides, which state that a material connection between an advertiser and an endorser must be fully disclosed. Dealers should be aware of these restrictions and be cautious not only when their employees post reviews online, but even where a dealer offers inducements or incentives to customers to post positive reviews. Such arrangements may require disclosure. For more information, see The FTC’s Revised Endorsement Guides: What People are Asking or click here to watch an FTC video.
Source: NADA Regulatory Affairs

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GM Closing German Factory Seen Emboldening Others

General Motors Co.'s move to shutter the first German car factory since World War II addresses only a fraction of the supply glut hobbling the European auto industry. “One would need to close at least one factory per volume manufacturer in Europe, which would be about five factories in total,” said Philippe Houchois, a UBS analyst in London, referring to Renault SA, PSA Peugeot Citroen, Fiat SpA and Ford Motor Co. as the other four companies needing to shut plants. Hamstrung by political pressure not to cut jobs, Europe’s carmakers have balked at shutting unprofitable plants, closing just two in the past four years: a GM facility in Belgium and a Fiat factory in Sicily.
Source: Bloomberg

Related Story

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NADA Predicts Used-Car Prices to Drop 3% in July

Moderate seasonal demand will drive down prices in all used-vehicle segments over the coming months, says Jonathan Banks, senior analyst with the National Automobile Dealers Association (NADA) Used Car Guide. This short-term sales forecast and other industry data were released today as part of the June 2012 edition of Guidelines, a monthly report containing information and insight on car and truck prices, new and used market trends and the overall economy. “NADA’s current forecast points to used-vehicle prices dropping by 3 percent in July,” Banks said.
Source: NADA Newsroom

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Feds Expand Gas Tank Fire Probe to 5 Million Jeeps

Federal safety regulators today expanded to five million Jeeps their probe of gas tank fire risk in rear crashes. Chrysler Group continues to say it has no evidence of increased fire risk or a defect in the vehicles. The National Highway Traffic Safety Administration said that it has upgraded its "preliminary" probe of 3.04 million 1993 to 2004 Jeep Grand Cherokees into a more serious full-scale engineering analysis. It also added the 1993 to 2001 Jeep Cherokee and the 2002 to 2007 Jeep Liberty, bringing the total to about 5.1 million Jeeps.
Source: USA Today

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3 Hard Lessons Akio Toyoda Learned From Toyota's Debacle

Things couldn’t seem to be better for Toyota as it heads into its annual shareholders meeting on Friday. It is back on top as the world’s best-selling carmaker. Profits are returning. New models, like the redone Camry and expanded Prius family, are flying out of showrooms. But inside the company, the debacle that shook the company three years ago still resounds.
Source: Forbes.com

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Garsten Presents Peconic Bay Medical Center with Gift from Auto Dealers Foundation

National Automobile Dealers Charitable Foundation ambassador Irwin L. Garsten, presented Peconic Bay Medical Center with a check to benefit PBMC’s School of Radiology. Garsten, president of Apple Honda in Riverhead, [N.Y.] serves as vice chairman of the Peconic Bay Medical Center Foundation board of directors. His ambassador status with the auto dealers charitable foundation allows him the privilege of presenting a gift every three years to a charitable organization. “Peconic Bay Medical Center is honored to be the recipient of such a generous gift and we thank Irwin Garsten and the National Automobile Dealers Charitable Foundation for supporting PBMC’s goal to provide quality, comprehensive healthcare to the communities we serve,” PBMC president and CEO Andrew Mitchell said.
Source: RiverheadLocal.com (Riverhead, N.Y.)

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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. For more information, visit www.nada.org.

 
Quotable
"Now that GM has opened the way, other manufacturers may find the courage to follow."

   
-- Philippe Houchois, a UBS analyst in London, referring to GM's move to shutter the first German car factory since World War II as a result of the economic crisis facing the European auto industry, Bloomberg, June 14




NADA Data 2012

Videos

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NADA For more information on NADA, visit www.nada.org or contact NADA, 8400 Westpark Drive, McLean, VA 22102. This email may contain an advertisement of NADA products and services. Any opinions or statements contained herein do not necessarily reflect the views of NADA. Factual errors are the responsibility of the listed publication. If you are a franchised new-car or -truck dealer and would like to become a member of NADA, please visit the Join NADA section of www.nada.org. Questions or comments concerning NADA Headlines content may be directed to publicaffairs@nada.org .