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Inside this issue
Tax Implications of Tangibles Regulations: Free Webinar Aug. 29
GM Shuns Political Poster Child Role, Bans Candidate Visits Until After Election Day
Presto! Google Kills Your Good Reviews
BMW to Nissan Pump Figures With Extra Sales to Dealers
Used-Vehicle Market Settles
2013 Ram 1500 Pickup Will Be first in U.S. to Offer Hands-Free Texting
Ford Investing $600M in China Facility
Editorial: Respect, Rapport Trump Rewards, Punishment
Celebrating the Classics, Confirming Their Value
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Tax Implications of Tangibles Regulations: Free Webinar Aug. 29

In December 2011, the IRS issued temporary “tangibles regulations” to clarify whether certain expenditures by taxpayers to acquire, produce or improve tangible property may be expensed or must be capitalized (i.e., depreciated). Dealer accountants have advised NADA that, while some dealerships will be impacted more than others, (i) it is highly likely that every dealership in the country will be affected in some manner, and (ii) to comply with the regulations, and to take advantage of new opportunities in the regs, dealers must request a change in their accounting method.  

NADA has arranged for several experienced CPAs from the accounting firm Boyer & Ritter to present a NADA University webinar to explain this development and the time frame in which dealers must act. The webinar, held Wednesday, Aug. 29, from 1 – 2:30 p.m. EDT, will be moderated by Paul Metrey, NADA’s chief regulatory counsel of financial services, privacy and tax. It’s is free for NADA and ATD members and their contracted professionals, such as accountants and attorneys. Click here to register. The password is tax. For more information, call (800) 557-6232.
Source: NADA Regulatory Affairs

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GM Shuns Political Poster Child Role, Bans Candidate Visits Until After Election Day

Here are two people you won't find touring a General Motors plant during the political season this fall: Barack Obama and Mitt Romney. GM, saved by federal loans a few years ago, desperately wants to avoid becoming the centerpiece of campaign rhetoric. So it has banned candidates from its plants at least until after Election Day, Nov. 6, despite the fact that the U.S. Treasury remains its largest shareholder.
Source: Detroit Free Press

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Presto! Google Kills Your Good Reviews

Early this month, dealer Scott Pitman watched in dismay as Google deleted 400 of his customer reviews over two days. The purge came without notice or explanation, he said, and Google offered no chance to appeal. The Internet giant -- which since has restored some of the reviews -- offers no detailed explanation of why or how it did what it did. But the company said in a statement provided to Automotive News that it seeks to prevent "spammy" content, even at the risk of sometimes removing legitimate reviews.
Source: Automotive News

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BMW to Nissan Pump Figures With Extra Sales to Dealers

Bayerische Motoren Werke AG (BMW) and Nissan Motor Co. have turned to unconventional buyers of their vehicles at times this year: their dealers. BMW, locked in a U.S. luxury sales race with Daimler AG’s Mercedes-Benz, began offering dealers allowances of as much as $7,000 a car on July 31 to boost sales to their demo fleets that are used for test drives. Nissan, pushing to pass Honda Motor Co. in U.S. market share, sells vehicles to dealers for use as rentals, as it did in March at the fiscal year-end. The actions by at least two of the world’s largest automakers resemble the ways General Motors Co. and Ford Motor Co. used such practices to lead luxury and car segments in the 1990s.
Source: Bloomberg

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Used-Vehicle Market Settles

Supply imbalances prevent price stability

The used-car market's wild ride of the last two years or so has calmed down. But there are still plenty of signs that the market has not yet returned to the predictable patterns that prevailed prior to the recession. "Based on the vehicles sold as a lease as recorded by Polk, we don't expect things to come back until the third quarter of 2013," says Jonathan Banks, an analyst with NADA Used Car Guide. The continuing scarcity of those vehicles will support stable to high prices, he said.
Source: Automotive News

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2013 Ram 1500 Pickup Will Be first in U.S. to Offer Hands-Free Texting

The 2013 Ram 1500 pickup will be the first American-built vehicle to offer hands-free voice responses to text messages. "We would like people to put their phones away and drive," said Joni Christensen, Chrysler Group's head of marketing for its UConnect mobile telecommunication systems.
Source: The Detroit News

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Ford Investing $600M in China Facility

Ford Motor Co. is investing another $600 million in China, this time for an investment in a new manufacturing facility in Chongqing, the company's largest global manufacturing location outside of southeastern Michigan
Source: The Detroit News

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Editorial: Respect, Rapport Trump Rewards, Punishment

Chrysler Group now will use a best-practices approach with its dealers.
Source: Automotive News

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Celebrating the Classics, Confirming Their Value

THE Best of Show trophy at the 62nd Pebble Beach Concours d’Élégance was awarded to a 1928 Mercedes-Benz 680S, gray with maroon trim and custom body work by a famed Parisian coachbuilder. The concours, considered the premier showcase for classic automobiles in the United States, hosted 220 entries — their eligibility meeting strict conditions — from 33 states and 15 countries.
Source: The New York Times

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Quotable
"We're staying out of ... politics. At the end of the day, we sell cars to Republicans, Democrats and everybody in between."

   
-- A GM spokesman, denying there was any political influence over the timing of an announcement to invest $200 million at its assembly plant in Lordstown, Ohio – a key swing state in presidential elections, Automotive News, Aug. 24


 




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