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Inside this issue
Register Now for NADA's Fair Credit Compliance Program Webinar
Tesla Compromises with Ohio Auto Dealers
GM's Mary Barra Earning High Marks for Response to Ignition-Recall Crisis
Ally Financial IPO May Generate $2.7 Billion for Treasury
Ford's Fields 'Pleased' with United Way Campaign Progress
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Register Now for NADA's Fair Credit Compliance Program Webinar

NADA Chief Regulatory Counsel Paul Metrey will conduct a NADA webinar on the optional NADA Fair Credit Compliance Program that NADA, AIADA, and NAMAD recently released to their members. The webinar will provide a general overview of the purpose and scope of the NADA program as well as general and specific instructions for developing the program. The first part of the webinar will focus on the information the dealer principal or general manager needs to know and the second part will provide the information needed for the senior dealership employee who will actually develop, implement, and maintain the program. The webinar will be held on Wednesday, April 2 at 1 p.m. ET. Click here to register.
Source: NADA University Online

Editor's note: To download the NADA Fair Credit Compliance Policy & Program, go to www.nada.org/faircredit.
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Tesla Compromises with Ohio Auto Dealers

Electric-car maker is limited to three stores, easing battle over its direct-sales model

Tesla Motors Inc. struck a deal Wednesday with Ohio auto dealers that could allow the electric-car maker to ease a battle over its direct-to-consumer retailing model, at least for the near term. Under the agreement, Tesla would be allowed to keep operating two company-owned retail stores in the state, and open just one more. The deal requires approval from the Ohio state legislature. The proposed bill would bar all other auto makers from bypassing franchised dealers to retail cars. Joe Cannon, vice president of government affairs for the Ohio Automobile Dealers Association, called the agreement "a very fair proposal that is helpful to both sides." It allows Tesla to keep operating in Ohio, he said, while reinforcing rules its dealer members have abided by for decades.
Source: The Wall Street Journal
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GM's Mary Barra Earning High Marks for Response to Ignition-Recall Crisis

Mary Barra's response to General Motors' biggest crisis since bankruptcy is quickly becoming a trial by fire for the new CEO — with customers, analysts and investors closely scrutinizing her every move. For now, Barra's seemingly personable nature is among the company's most powerful assets. That was exemplified Wednesday in five online videos directly addressing customer concerns about GM's ignition switch recall, which involves 1.6 million pre-bankruptcy small car models, including 2005-07 Cobalts and 2003-07 Saturn Ions, Pontiac G5s, Pontiac Solstices and Chevrolet HHRs. Simply convincing people that she truly cares (something stiff executives of the auto industry's past at times struggled to do) and that she'll fix the problem will go a long way.
Source: Detroit Free Press

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Ally Financial IPO May Generate $2.7 Billion for Treasury

Ally Financial Inc., the auto lender rescued by the U.S. government during the 2008 financial crisis, is helping the Treasury Department divest its stake by seeking as much as $2.7 billion in an initial public offering. Treasury plans to pare its holding to 17 percent by selling 95 million shares for $25 to $28 apiece, according to a regulatory filing today with the U.S. Securities and Exchange Commission. The government currently owns 37 percent of the Detroit-based company, a former subsidiary of General Motors Co.
Source: Bloomberg
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Ford's Fields 'Pleased' with United Way Campaign Progress

Ford Motor Co. chief operating officer Mark Fields, who is chairman of this year's Southeastern Michigan United Way campaign, said Friday he is pleased with the organization's progress toward its $40 million fundraising goal, especially after the city of Detroit's bankruptcy filing. “If there was ever a greater need, it becomes even more into focus in terms of what's happening with the city,” Fields said. “I think that just helped motivate us even more to do more. We're really pleased with our progress.” Fields, speaking at Ford's world headquarters, said the United Way would announce a specific total at a torch-passing ceremony April 10. Fields said one of the main focuses of this year's campaign was to find new contributors, specifically individuals who give more than $10,000 annually. He said the number of people in that top tier is up 70 percent compared to the 2012-2013 campaign.
Source: The Detroit News
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More Articles
 
Quotable

"We intend to make this recall as smooth as possible for you so we will not let it ever happen again. We will learn from this, and we will be a better company."

      --- GM CEO Mary Barra, in an online video addressing consumer concerns regarding the recall, Detroit Free Press, March 26    

  

NADA Market Beat
Cold February Weather Dampens Light Vehicle Sales
Chairman's Column
The Franchise Dealer Network—An Economic Engine
Videos

 Meet NADA Chairman Forrest McConnell (NADA-TV)


NADA Used Car Guide's Jon Banks Highlights March's Guidelines (NADA-TV)

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NADA University Webinars
All webinars will be held at 1 p.m. ET unless otherwise noted. 

-- April 2: NADA’s Fair Credit Compliance Program

-- April 3: Tips for Submitting a Great Workshop Proposal 

NADA Foundation News
New Orleans' High Schools Receive CPR Training Manikins

ADESA and NADA Donate $37,000 to Canine Companions

NADA and Ally Donate $50,000 to Second Harvest Food Bank in New Orleans 

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