View Mobile Version | View Web Version

SPONSORED BY
 
NADA.org
March 18, 2015 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
nada.orgAdvocacyAffiliates | Convention | Jobs | Programs | Publications | Services | Training

Inside this issue
NADA Releases Article on Ways to Preserve Cash Flow When Receiving Factory Image Payments
U.S. Judge Taps Lead Lawyers for Takata Airbag Cases
Nissan Plans $160 Million Supplier Park in Tenn.
BMW Tones Down Forecasts as Lineup Ages, Investment Costs Remain High
GM's Boler-Davis Wants Closer Connection With Customers
Ford to Debut New Cloud-Based Infrastructure
New Jersey Auto Retailers Work Against Children’s Ailments
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
NADA Releases Article on Ways to Preserve Cash Flow When Receiving Factory Image Payments

Many auto dealers renovate their facilities as the result of factory-mandated image programs. These programs typically involve factory financial assistance to participating dealers to offset a portion of their investment. Dealers often assume they can reduce the cost basis of this investment by the amount of factory assistance received and are surprised to learn that IRS issuances to date on the topic, although informal and disagreed with by some dealer tax advisors, state that this amount is taxable income in the year it is earned. 
 
Dealers should be aware, however, that there are several mechanisms available to them that may be able to reduce the impact of the current tax obligation associated with factory image program payments. In a brief article entitled Tax Implications of Dealership Facility Image Upgrades, the dealer accounting firm Boyer Ritter outlines these mechanisms and provides an example of how applying them may help a dealer to preserve a manageable cash flow. Dealers are encouraged to share and discuss this article with their tax advisor.
Source: NADA Regulatory Affairs

[back to top]

U.S. Judge Taps Lead Lawyers for Takata Airbag Cases

Four plaintiffs' lawyers, including high-profile attorney David Boies, were appointed by a federal judge on Tuesday to lead civil litigation against Takata Corp. and several car manufacturers for injuries caused by allegedly faulty airbags. U.S. District Judge Federico Moreno, who is overseeing more than 85 lawsuits that have been consolidated in a U.S. federal court in Miami, picked Florida attorney Peter Prieto of Podhurst Orseck to lead the litigation. Prieto filed one of the first U.S. lawsuits last year against the Japanese company alleging that Takata airbags are defective and can violently explode and spray metal debris at the vehicle's occupants. Moreno selected two attorneys to oversee cases from customers who said they suffered economic losses as a result of the recall, such as lost resale value.
Source: Reuters
Share: LinkedIn Twitter Facebook

[back to top]

Nissan Plans $160 Million Supplier Park in Tenn.

Nissan Motor Corp. plans to add more than 1,000 new supplier jobs at its Tennessee operations as part of a $160 million supplier park project. Nissan will build a 1.5 million-square-foot integrated logistics center on the company's Smyrna, Tenn., campus. The center will be used for multiple purposes, such as inbound production parts and outbound returnable containers, a statement said. The project will be built in phases starting later this year, with completion anticipated in late 2016. The new hires will be employed by suppliers, a Nissan spokesman said.
Source: Automotive News
Share: LinkedIn Twitter Facebook

[back to top]

BMW Tones Down Forecasts as Lineup Ages, Investment Costs Remain High

BMW said it expects 2015 sales volume and profit will slow this year because of aging models and higher investment costs for new technologies. The company expects its car sales and profit to rise by a medium to high single-digit percentage this year after 2014 group earnings before tax rose 10.3 percent to 8.71 billion euros ($9.23 billion). "As always, our forecasts assume the economic conditions worldwide remain stable and won't deteriorate. However many uncertainties remain: Important markets like China are losing momentum," CEO Norbert Reithofer said at the company's annual results press conference.
Source: Automotive News
Share: LinkedIn Twitter Facebook

[back to top]

GM's Boler-Davis Wants Closer Connection With Customers

General Motors plans to make vehicle connectivity a “360-degree” loop between the automaker and its customers, leaning heavily on new high-speed data connections inside the automaker’s vehicles to attract new buyers and hold onto existing ones. “From the time a customer starts looking at potential vehicles online, to when they are at the dealership, to when they have the car… I would love to connect them through the entire experience, 360-degrees,” says Alicia Boler-Davis, senior vice president-Global Connected Customer Experience at GM.
Source: WardsAuto
Share: LinkedIn Twitter Facebook

[back to top]

Ford to Debut New Cloud-Based Infrastructure

Ford Motor Co. will soon take vehicle data into the cloud, thanks to a longtime partner. The Dearborn automaker said Tuesday it’s partnering with Microsoft Corp. to create a cloud-based infrastructure from which customers can wirelessly download updates for its new Sync 3 infotainment system, remotely lock or unlock their vehicles and check battery-charge levels of their electric plug-ins. Ford previously ditched Microsoft for Blackberry’s QNX software for the creation of the new Sync system. The automaker’s cloud-connected services will use Microsoft’s Azure global cloud-based network to beam information into the vehicle.
Source: The Detroit News
Share: LinkedIn Twitter Facebook

[back to top]

New Jersey Auto Retailers Work Against Children’s Ailments

The New Jersey Auto Retailers Unite program, which experienced a successful campaign last year, continues again this year between the months of June and October. The group of franchised auto retailers from the Garden State will again partner with The Valerie Fund to raise funds for children with cancer and blood disorders. Franchises within the state have already begun to sign up for the event, which will run from June 1 to October 31.
Source: Auto Remarketing
Share: LinkedIn Twitter Facebook

[back to top]

More Articles
 
Quotable

"Automotive retailers are the economic and charitable backbone of cities and towns throughout New Jersey, contributing more than $13 million to social, medical and veterans charities that serve thousands of New Jersey residents."

    -- Jim Appleton, the president of the New Jersey Coalition of Automotive Retailers, Auto Remarketing, March 17

Sponsored by


NADA Market Beat
February Sales Up 5.4% from Last Year
Chairman's Message
Commentary: Another NADA Convention for the Ages
Videos

Get the Facts: Warranty Work, Safety Recalls and Service


Get the Facts: Local Economic Benefits of the Dealer Franchise System    


Get the Facts: The Benefits of Price Competition  


Get the Facts: Why Dealer Franchise Laws?  


Get the Facts: The Benefits of Franchised Auto Dealers

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

-- March 25: Content: Shoppers Are Begging You For It!

NADA Foundation News
University of Portland Receives Grant from the NADA Foundation

ADESA Auction Raises $40,000 for Veterans’ Canine Companions

  
 
Search Back Issues | Unsubscribe | Subscribe | Manage your subscription | email us
NADA For more information on NADA, visit www.nada.org or contact NADA, 8400 Westpark Drive, McLean, VA 22102. This email may contain an advertisement of NADA products and services. Any opinions or statements contained herein do not necessarily reflect the views of NADA. Factual errors are the responsibility of the listed publication. If you are a franchised new-car or -truck dealer and would like to become a member of NADA, please visit the Join NADA section of www.nada.org. Questions or comments concerning NADA Headlines content may be directed to publicaffairs@nada.org .