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Inside this issue
Biden Says U.S. Bet on Auto Industry Paid Off
NADA's Westcott: Dealer Reserve Is Still the 'No. 1 Issue'
NADA 2014 Dealership Workforce Study Opens to Dealers at Convention
NADA Convention to Feature Social Connection Zone
Treasury to Sell Shares of Ally Financial as the Lending Giant Recovers
More Millennials Interested in Buying, Leasing Cars, Study Says
Auto Dealers in Greater New York Donate 3,000 Winter Coats
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Biden Says U.S. Bet on Auto Industry Paid Off

U.S. Vice President Joe Biden said the U.S. government's wager on the nation's automotive industry has paid off. "We bet on American ingenuity, we bet on you and we won," he said [Thursday] during a speech at the Detroit auto show. Biden's visit to the show follows the U.S. Treasury's sale last month of its remaining stake in General Motors Co. The exit ended the so-called "Government Motors" era that followed the U.S. government's $50 billion bailout and reorganization of the company. The vehicles on display at the show reflect the sacrifices made during the industry's restructuring during the recession, Biden said.
Source: Automotive News

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NADA's Westcott: Dealer Reserve Is Still the 'No. 1 Issue'

Shortly after David Westcott became chairman of the National Automobile Dealers Association a year ago, the Consumer Financial Protection Bureau made clear it saw problems with the dealer reserve, the interest rate markup on vehicle loans that dealerships arrange for customers. Westcott and new NADA President Peter Welch had another battle to fight. "That became priority No. 1," said Westcott, who owns David Westcott Buick-GMC in Burlington, N.C. Westcott, 67, spoke with Automotive News Staff Reporter Amy Wilson.
Source: Automotive News
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NADA 2014 Dealership Workforce Study Opens to Dealers at Convention

Dealers interested in taking part in the 2014 NADA Dealership Workforce Study — which offers analysis and data to help them attract and retain quality employees — will have their chance later this month. Participation in the study opens to dealer members of the National Automobile Dealers Association and American Truck Dealers at the NADA Convention & Expo, set for Jan. 24-27 in New Orleans. The study is conducted by NADA and ESI Trends (formerly DeltaTrends), and is billed as the industry's most comprehensive analysis of the dealership workforce, providing dealers with the data to make informed recruiting and hiring decisions. Dealers may enroll as individual dealerships or dealer groups. The study uses web-based participation that is “totally secure,” said Kenneth Vance, chair of NADA's Dealership Operations Committee and a new-car dealer in Eau Claire, Wisc. Dealers interested in participating in the study may visit the NADA Dealership Workforce Study kiosk in the NADA Pavilion (Booth #3701) or enroll at www.nadaworkforcestudy.com.
Source: Auto Remarketing
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NADA Convention to Feature Social Connection Zone

The Social Connection Zone is back by popular demand to help attendees stay current on the latest tech trends and “charged up” at the 2014 NADA Convention & Expo in New Orleans. The zone has a look similar to the Genius Bar found at Apple stores and is complete with technicians in white lab coats to assist attendees with their digital needs. Features for 2014 include a photo booth, coffee bar, rapid charging stations, complimentary Wi-Fi and a large social media wall broadcasting a Twitter feed and Flickr photos. There will also be daily tech sessions on various topics, such as “Test Driving Facebook Advertising,” “Get Revved Up Over Twitter,” “Turbocharging Your Social Media” and “Looking Under the Hood of Google+.”

The NADA convention will also feature several social media contests, including “Become a Meme” on Facebook, “Snap a Selfie” on Instagram and “NADATips” on Twitter. Prizes include an iPad mini, free registration/housing for the 2015 NADA/American Truck Dealer Convention & Expo in San Francisco, dinner for two at Mr. B's in the French Quarter and a Visa gift card. The Social Connection Zone is located in Hall D of the Expo hall in Booth #3601, which is adjacent to the NADA Pavilion. The NADA convention will be held at the Ernest N. Morial Convention Center from Jan. 24-27. For more information, visit www.nadaconvention.org.
Source: NADAFrontPage.com
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Treasury to Sell Shares of Ally Financial as the Lending Giant Recovers

The fortunes of the once-beleaguered auto lender Ally Financial have risen with the rebirth of the car industry. Booming demand for auto financing has helped the firm regain its footing after the economic crisis brought it to the brink of collapse. Now Ally is close to shaking off the last vestiges of that time: its bailout. On Thursday, the Treasury Department said it plans to sell 410,000 shares of Ally for $3 billion, reducing the government's stake in the company from 64 percent to 37 percent. The department said that, once the sale is complete, the government will have recovered about $15.3 billion, or 89 percent of the $17.2 billion it handed to Ally through the Troubled Assets Relief Program.
Source: The Washington Post
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More Millennials Interested in Buying, Leasing Cars, Study Says

Contrary to the perception that Generation Y doesn't like to drive as much as previous generations, a study released [Thursday] says 61 percent of U.S. millennials are expected to buy or lease a car in the next three years. That's up from 50 percent last year, according to an annual report from consulting firm Deloitte LLP. Of Gen Y consumers, defined in the study as those born between 1977 and 1994, 23 percent expect to make their purchase in the next 12 months. And 59 percent say they believe they will be driving an alternative-engine vehicle five years from now, up from 57 percent last year. Cost remains a barrier to many Gen Y consumers, with 80 percent of those without a vehicle saying that it is because they cannot afford it. And 75 percent cited operational and maintenance costs as factors in being unable to own a vehicle.
Source: Automotive News

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Auto Dealers in Greater New York Donate 3,000 Winter Coats


The Greater New York Auto Dealers Association donates more than 3,000 winter coats. Pictured (l-r): GNYADA directors Tony Mazza and Brian Miller; Neale Kuperman, GNYADA chairman; Nick Toomey, GNYADA director; Gary Bagley, executive director of New York Cares; and Aaron Berg, GNYADA Next Gen dealer.

The Greater New York Auto Dealers Association partnered with New York Cares to collect and distribute more than 3,000 winter coats. Two trucks were needed to deliver the coats to the main collection point in midtown Manhattan on Wednesday. The association and auto dealers collected the coats across metro New York. The auto dealers surpassed their original goal of collecting 500 coats by a whopping 500 percent, making it the largest donation to date by a single organization to the New York Cares Coat Drive. “To see 3,000 coats rolling into the Coat Drive warehouse this morning was a wonderful sight,” said Gary Bagley, executive director of New York Cares. “We haven’t yet collected half of the more than 100,000 requests for winter coats we’ve received, so we are especially grateful to the GNYADA and its members for such an enormous donation in these final weeks of the drive.”
Source: GNYADA

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Quotable

"We bet on American ingenuity, we bet on you and we won."

   --- U.S. Vice President Joe Biden, during remarks at the Detroit auto show on Thursday, Automotive News, Jan. 16

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