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Inside this issue
Auto Dealers Lobby for Change in Estate Tax
Taxes Show One Way to Save Fuel
NADA UCG: Demand for Used Still Solid
Toyota Takes New Designs to Las Vegas
CAW Strike Would Halt Key Vehicle Production
Editorial: Car Crash
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Top Stories
Auto Dealers Lobby for Change in Estate Tax

Claim it will prevent dealerships from being passed down

About 400 auto dealers lobbied Capitol Hill Wednesday on tax issues, especially the looming jump in the estate tax. Most of the nation's 17,000 new car dealers are family owned businesses — many that have been passed on from generations. "The estate tax particularly hurts dealerships since assets, such as land and single-use showroom facilities, cannot be liquidated to pay the tax without destroying the viability of the dealership," the National Automobile Dealers Association said in a fact sheet. In December 2010, Congress passed a temporary estate tax of 35 percent on estates worth more than $5 million. Unless Congress acts, the old rate of 55 percent with a $1 million exemption will go into effect in January.
Source: The Detroit News

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Taxes Show One Way to Save Fuel

Just the other day, President Obama unveiled another example of how our hostility to anything that even remotely looks like a tax is leading us down the wrong path, ultimately making us worse off. What the government didn't mention is that these improvements come at a high cost for drivers, automakers and society in general. They could be achieved much more cheaply by raising taxes on gasoline to a level comparable to that of pretty much every other industrialized nation. The new mileage rules are so expensive, in fact, that even if one factors in all the expected gains from the policy — like less damage from climate change and fewer deaths from respiratory disease — many economists think that the costs actually outweigh the benefits.
Source: The New York Times

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NADA UCG: Demand for Used Still Solid

Modestly softer demand in recent months is not an indication that consumers are no longer hungry for used vehicles, according to NADA Used Car Guide. It's quite the contrary. In the latest Guidelines report, senior analyst Jonathan Banks says “numerous indicators suggest that consumer demand for used vehicles continues to grow, albeit at pace slower than what has been observed over the past few years.”
Source: Auto Remarketing

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Toyota Takes New Designs to Las Vegas

Dealers treated to previews of new Corolla, RAV4 and others; new tag line launched

Toyota Motor Corp. showed off some of its all-new vehicles to its dealers in Las Vegas, including a dramatically redesigned Corolla and a next-generation RAV4 that won't have the spare tire on the back.The Japanese automaker held its annual meeting Tuesday to show off new products with representatives from more than 1,400 of its U.S. dealers. They included a new Scion tC and Avalon, both headed to showrooms soon.
Source: The Detroit News

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CAW Strike Would Halt Key Vehicle Production

Walkout could hurt U.S. plants that rely on Canadian parts

The Canadian Auto Workers union said Wednesday it is continuing strike preparations as a Monday contract deadline with the Detroit automakers looms. Such a strike could halt production of more than a dozen vehicles built in Canada and hamper production throughout North America.
Source: The Detroit News

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Editorial: Car Crash

The failing promise of electric vehicles

As a candidate for president in 2008, Barack Obama set a goal of getting 1 million all-electric and plug-in hybrid vehicles on the road by 2015. In February 2011, the Obama administration’s Energy Department issued an analysis purporting to show that, with the help of subsidies and tax credits, “the goal is achievable.” This was a paltry claim in the first place, since 1 million cars amount to less than 1 percent of the total U.S. fleet. Yet it is increasingly clear that, despite the commitment of many millions of taxpayer dollars, the United States will not hit Mr. Obama’s target by 2015. A recent CBS News analysis suggested that we’ll be lucky to get a third of the way there.
Source: The Washington Post

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Quotable
"Seeking a permanent solution at a fair rate isn't just about passing our businesses onto the next generation, it is about making sure that the 65 families that depend on my stores have jobs in the future."
 
   
-- Bill Underriner, NADA chairman and Montana auto dealer, referring to the dealer's need for a change in the estate tax, The Detroit News, Sept. 13


 


 

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