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Inside this issue
Bill to Cut Auto Dealership Red Tape Headed to White House
Profits Flat at U.S. Dealerships Despite Rising Sales
GM Recall's $1.7 Billion Windfall
Toyota Recalls 466,000 Vehicles to Fix Rust Corrosion, Brake Pedal Problems
Lotspeich Family Named Ambassadors of Distinction Through the NADA Charitable Foundation
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Bill to Cut Auto Dealership Red Tape Headed to White House

H.R. 724, a bill that repeals an unnecessary paperwork burden on small business auto dealerships, is headed to the president's desk. The National Automobile Dealers Association (NADA)-backed measure, which passed the U.S. Senate last night by unanimous consent, eliminates a 1977 federal mandate requiring auto dealers to verify that new vehicles are compliant with the Clean Air Act. “All new cars and light trucks delivered to dealerships from the factory already come with documentation that the vehicles conform to federal emission laws,” said Forrest McConnell, NADA chairman and a Honda/Acura in Montgomery, Ala. “Requiring dealerships to fill out a form to recertify that a new vehicle complies with the Clean Air Act is redundant and unnecessary.” McConnell added that new-vehicle owners can find documentation of Clean Air Act compliance under the hood of the vehicle, on the Internet, or in the owner's manual and supplements, making additional government paperwork provided by the dealer unnecessary. The bill was first introduced by Reps. Bob Latta, R-Ohio, and Gary Peters, D-Mich., and passed the U.S. House of Representatives by a vote of 405 – 0 on January 8. Sens. Debbie Stabenow, D-Mich., and Deb Fischer, R-Neb., helped guide passage of H.R. 724 through the senate.
Source: NADAFrontPage.com
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Profits Flat at U.S. Dealerships Despite Rising Sales

Because of tough competition, profits at the nation's 17,665 new-car dealers remained flat in 2013 despite rising auto sales. As a percentage of total sales, profitability at new-car dealerships remained at 2.2 percent last year. “Fierce price competition — whether from online research, a network of competing franchised dealers or compelling new vehicles — continues to dominate an industry with slim retailing margins,” said Steven Szakaly, chief economist for the National Automobile Dealers Association. The 2.2 percent figure represents sales in the new- and used-vehicle departments, and service and parts sales, the group said in a report. New-car dealerships on average reported a pre-tax profit of $923,248, up 10.5 percent in 2013. Total revenue at new-car dealerships reached $730 billion in 2013, an increase of 8.8 percent. U.S. auto sales rose 7.6 percent last year to 15.6 million.
Source: The Detroit News

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GM Recall's $1.7 Billion Windfall

General Motors' recall crisis has turned into a $1.7 billion windfall for its dealers and parts suppliers. That's how much the company expects to spend on repairs and loaner cars to deal with the 15.8 million cars and trucks it has recalled globally this year. Most of that money will flow to the nearly 5,000 U.S. dealers who are making the repairs, and to the auto parts makers building the parts. Repair work is the most profitable business for most auto dealers. Service and parts account for about two thirds of dealer profits, according to figures from the National Automobile Dealers Association.
Source: CNN Money

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Toyota Recalls 466,000 Vehicles to Fix Rust Corrosion, Brake Pedal Problems

Toyota Motor Corp. is recalling 466,000 vehicles globally, including about 460,500 in North America, for rust corrosion and brake pedal problems, the automaker said [Thursday]. The North American recall includes 10,500 2013 Lexus GS sedans in the United States and Canada and 450,000 2004-11 Sienna minivans in colder climate salt belt regions.
Source: Automotive News
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Lotspeich Family Named Ambassadors of Distinction Through the NADA Charitable Foundation



Jake Lotspeich



Matt Lotspeich



Al Lotspeich

Dale Willey, past NADA chairman and a trustee of the National Automobile Dealers Charitable Foundation from Lawrence, Kansas, announced that Al Lotspeich (in memoriam) and his grandsons, Jake and Matt Lotspeich from Lotspeich Automotive in Warrensburg, Missouri, have become Ambassadors of Distinction. They can present a $2,000 grant to an organization of their choice every year in perpetuity.

To become an Ambassador, a dealer, company/association or individual makes a tax-deductible contribution of $10,000 in their name or in recognition of a loved one, living or deceased. Ambassadors are then eligible to provide $1,500 grants every three years in perpetuity. Donors with three gifts of $10,000 or more to the program receive the title Ambassadors of Distinction. For more information or to become an Ambassador, contact the NADA Foundation at (703) 821-7102 or foundation@nada.org.
Source: NADA Public Affairs
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Quotable

"NADA commends Reps. Latta and Peters and Sens. Stabenow and Fischer for their leadership on behalf of small business auto dealers to cut red tape and reduce an unnecessary regulation. Because of their bipartisan efforts, auto dealers can focus on helping customers instead of pointless paperwork."   

    -- NADA Chairman Forrest McConnell, commenting on H.R. 724, a bill that repeals unecessary paperwork at dealerships, NADAFrontPage.com, May 23

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