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Inside this issue
NADA Issues Statement on Joint CFPB/DOJ Enforcement Announcement
Japanese Car Exports to U.S. Get Lift From Weak Yen
Dealertrack to Buy Dealer.com For About $1 Billion
New York State Auto Dealers Association Selects NADART for Retirement Plan
These Diesels From Audi, BMW and Mercedes Cost Less To Own Than Your Gas-Powered Luxury Car
Missoula, Mont., Auto Body Shop Faces US Labor Department OSHA Penalties Following Workplace Fire
Drivable Lego Car Built Piece By Piece -- All 500,000
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
NADA Issues Statement on Joint CFPB/DOJ Enforcement Announcement

In response to the enforcement announcement today by the Consumer Financial Protection Bureau and the Department of Justice, the National Automobile Dealers Association issued the following statement:

“NADA fully supports our nation’s fair lending laws and the commitment of federal agencies to eliminate discrimination in the marketplace.

“Regrettably, in today’s announced enforcement action, the CFPB continues to withhold the secret methodology it uses to determine whether unintentional discrimination has occurred.  The public still does not know whether the Bureau takes into account legitimate factors that can affect finance rates – for example, a dealer’s ability, regardless of race, to lower the interest rate to meet a customer’s monthly budget.  The CFPB’s failure to reveal its approach is particularly troubling given the repeated and recent requests from bi-partisan members of both houses of Congress for this essential information.

“We are encouraged that today’s announcement does not mandate any form of a dealer flat fee compensation system.  A flat fee system would eliminate consumers’ right to save money by negotiating lower interest rates with their local car dealers.”

For more information about dealer-assisted financing and the CFPB, visit www.nada.org/cfpb.
Source: NADAFrontPage.com
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Japanese Car Exports to U.S. Get Lift From Weak Yen

Japan's exports rose for a ninth consecutive month in November, led by car shipments to the United States and China, a sign the weak yen and a recovery in global demand are energizing a major growth driver in the world's third-biggest economy. The volume of cars shipped to China and the United States rose by 185 percent and 13.2 percent respectively, with the jump in China sales occurring a year after a boycott of Japanese products in China in a row over disputed islands in the East China Sea. A steady recovery in the U.S. economy boosted demand for Japanese cars there, with the weak yen giving a competitive edge to exporters such as Toyota Motor Corp., analysts said.
Source: Automotive News
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Dealertrack to Buy Dealer.com For About $1 Billion

Dealertrack Technologies Inc., which makes software used by auto dealerships, said Thursday that it is buying privately held Dealer.com in a cash and stock deal that could be worth nearly $1 billion. The company said the deal will expand the services it provides to auto dealers, lenders and shoppers. Dealer.com, which is based in Burlington, Vt., makes marketing and customer-relationship-management software for auto dealerships. Dealertrack said it will pay about $620 million in cash for Dealer.com plus about 8.7 million of its common stock.
Source: Associated Press
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New York State Auto Dealers Association Selects NADART for Retirement Plan

The New York State Automobile Dealers Association is the seventh dealer group this year to choose NADART as a preferred partner to provide customized retirement plans to its member dealers and dealership employees. “NADART offers dealers and their employees many exceptional services as part of its 401(k) retirement plan,” said NYSADA President Robert Vancavage. “That's why NADART was approved by our executive committee as an affiliate benefits provider for our membership.”

NADART, the retirement plan and benefits division of the National Automobile Dealers Association, will work with NYSADA to deliver a selection of investment and employee benefit options specifically targeted toward dealer businesses. “We are delighted to include the NYSADA among our strategic partners and look forward to educating and providing our unique bundle of retirement services to dealers in that great state,” said Betsy Piper/Bach, NADART vice president and chief operating officer. This year alone, state dealer associations in Louisiana, North Carolina, Oregon, Pennsylvania, California and Ohio have selected NADART.
Source: NADAFrontPage.com
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These Diesels From Audi, BMW and Mercedes Cost Less To Own Than Your Gas-Powered Luxury Car

Automakers have long lamented the American public's reticence to embrace diesel technology as wholeheartedly as have Europeans. Part of the hesitancy, most insiders believe, stems from a general lack of understanding among consumers here about the benefits of modern clean diesel versus the old (read: loud and dirty) variety. But those who have adopted diesel love it. Audi head Scott Keogh routinely tells me his company sells out of each TDI model they make; Detlev von Platen at Porsche told me at the LA auto show last month that diesel technology will continue to play an “increasingly significant” role for its fleet, especially the best-selling Panamera. The truth is that while there is a price premium (roughly $5,300 on average) associated with the initial purchase cost of diesel vehicles, they typically get 30% better gas mileage and flaunt superior torque numbers and reliability ratings. The automotive analysis firm Vincentric estimates that driving a diesel car will save $2,117 in fuel costs over one year assuming annual rate of 15,000 miles.
Source: Forbes
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Missoula, Mont., Auto Body Shop Faces US Labor Department OSHA Penalties Following Workplace Fire

9 serious OSHA violations, $51,100 in proposed fines

The U.S. Department of Labor's Occupational Safety and Health Administration has cited Rick's Auto Body of Missoula for nine serious violations of workplace safety and health standards. The employer faces $51,100 in proposed fines as a result of an August inspection. "In this case, the employer disregarded necessary safety measures, placing employees in harm's way," said Jeff Funke, OSHA's area director in Billings. "The inspection, prompted by a workplace fire, identified the improper storage of flammable liquids at the facility and inadequate grounding and bonding methods for the transfer of flammable liquids."The serious violations identified during the investigation include improper storage of flammable and combustible materials, use of storage containers not approved for flammable goods and failure to store overhead materials securely. The employer was also cited for failing to label emergency exits, ensure adequate controls for leakage or the escape of flammable materials, and ground electrical equipment around combustible materials. Additionally, the site was improperly ventilated and lacked sufficient fire sprinkler systems, endangering individuals in an emergency.
Source: OSHA
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Drivable Lego Car Built Piece By Piece -- All 500,000

The car reaches a top speed of 18 mph and runs on air

The first drivable Lego car is made of 500,000 pieces and runs on air. The inventors of the Lego car are Australian entrepreneur Steve Sammartino and Romanian Raul Oaida, a self-taught technology guru. The car — known as the Super Awesome Micro Project — can reach a top speed of 18 mph. It was built in Romania and delivered to a location in the suburbs of Melbourne, Australia, where the car was test-driven, according to the inventors' website. "We were scared of a Lego explosion, so we drove it slowly," the inventors said on their site. Even the engine is made of Legos, which has "four orbital engines and a total of 256 pistons," according to the site. Only the tires and some load-bearing elements are not made of the plastic block toys.
Source: USA Today
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