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Inside this issue
Consumer Voices are Centerpiece of NADA Advocacy on Financing
POLITICO Influence: Auto Dealers to Run Snapchat Ads During Debate
The View of the Global Auto Market from Germany? Not So Bad
Survey: People Can't Imagine Life Without Cars
UAW, Fiat Chrysler Reach Tentative Labor Deal
BMW Eyes New Business Opportunities with Autonomous Cars
Suzuki's Divorce from VW to Cost it up to $3.9 Billion
Google Does Not Intend to Become a Carmaker, Executive Says
Top Stories
Consumer Voices are Centerpiece of NADA Advocacy on Financing

In new NADA initiative, consumers tell their own stories of saving on financing at the dealership

The stories of real consumers who saved money by financing new vehicle purchases through local dealerships are at the center of an initiative by the National Automobile Dealers Association (NADA) to showcase the true economic value of dealer-assisted financing. Through video testimonials and a new website - nada.org/autofinance - NADA is bringing the voices of consumers back into the debate over dealer-assisted financing. Dealers have been fighting to preserve the fiercely competitive, pro-consumer financing model ever since it came under threat from the Consumer Financial Protection Bureau (CFPB) in 2013.

"Consumers save money every day when they finance through dealerships, but that truth is getting lost in Washington, and that needs to change," said NADA President Peter Welch. "The stories that we're highlighting are far from unique. Dealers across the country save consumers money every day, and right now Washington is failing to understand what's at stake for these consumers and millions more if competition is stifled and dealers are prevented from offering discounts on financing." In today's vehicle finance market, local dealerships are able to shop a customer's credit application to dozens of lenders all competing for the same loan. As a result, dealers usually offer better interest rates than consumers can find on their own. Furthermore, dealers have the ability to discount their rates to meet or beat a competing credit offer, which results in further savings for consumers.

Learn more at: nada.org/autofinance.
Source: NADA
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POLITICO Influence: Auto Dealers to Run Snapchat Ads During Debate

The National Automobile Dealers Association will run Snapchat ads during the Republican debate tonight, highlighting a new website promoting dealer-assisted financing. The group is “the first industry trade association to target a specific event on Snapchat with paid advertising." Here's the website: http://bit.ly/1Ofkj7h. Watch the ads here, here and here.
Source: POLITICO

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The View of the Global Auto Market from Germany? Not So Bad

How bad are things on the world automotive stage? Pretty awful, right? Th‎e U.S. is the only bright spot in a global industry filled with turmoil.‎ At least that's how Americans tend to view the situation. But here in Germany things don't look so bleak. "There is always some part of the world where you have headwinds," said Peter Schwarzenbauer, BMW AG board member in charge of Mini and Rolls-Royce. "But Europe is doing quite well, it is recovering. "Actually," Schwarzenbauer considered, "the world automotive industry is doing quite well, with the exception that we have a little bit less growth in China."
Source: Automotive News
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Survey: People Can't Imagine Life Without Cars

Survey responders also said they believe the auto industry is doing an adequate job addressing carbon emissions.

A majority of people around the world could not imagine living their lives without a car, according to a study released Wednesday at the Frankfurt Motor Show. The findings by the International Organization of Motor Vehicle Manufacturers (OICA), a group that defends the various interests of the car industry, revealed that 57% of people globally would find life harder or more challenging without access to four wheels. OICA concluded that that 78% of people in Africa cannot imagine living their lives without a car, 63% in the Americas, 56% in Europe and 48% in Asia. The Paris-based organization surveyed 14,000 people in 18 countries.
Source: USA Today
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UAW, Fiat Chrysler Reach Tentative Labor Deal

Agreement would eventually remove controversial two-tier wage system

The United Auto Workers union reached a tentative labor deal with Fiat Chrysler Automobiles NV that will eventually remove a controversial two-tier wage system that pays newer hires less than more-experienced co-workers doing the same jobs, according to people familiar with the agreement. Under the current arrangement, newer factory employees earn about $9 an hour less than more senior employees, a point of friction for many rank-and-file workers. The new structure will eventually phase out the two classes of wages over time, the people said. Fiat Chrysler Chief Executive Sergio Marchionne and UAW President Dennis Williams discussed the pact at a news conference in Detroit Tuesday evening, but declined to disclose specific wage details. UAW leaders will likely brief members on highlights in coming days.
Source: The Wall Street Journal
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BMW Eyes New Business Opportunities with Autonomous Cars

BMW Group is preparing to rethink its products, design and business models for the advent of driverless cars, Mini boss Peter Schwarzenbauer said. The executive said the competitive advantage for premium carmakers will be rooted in their ability to offer a portfolio of transport options far beyond just selling a car. The ability to hail an autonomous car instantaneously may lead to a convergence between business models being offered by taxi services, limousine rides and car sharing, Schwarzenbauer told Reuters in an interview at the Frankfurt auto show on Tuesday.
Source: Reuters
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Suzuki's Divorce from VW to Cost it up to $3.9 Billion

Suzuki says it will buy back the 19.9 percent stake held by top shareholder Volkswagen Group after an international arbitration court last month ordered the German automaker to sell its holding. The Japanese automaker said it would repurchase on Thursday as many as 122.77 million shares at today's closing price of 3,842.50 yen, for up to 471.74 billion yen ($3.9 billion). Suzuki did not say what it planned to do with the stock.
Source: Reuters
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Google Does Not Intend to Become a Carmaker, Executive Says

Google Inc. does not intend to become a vehicle manufacturer, the company's managing director for Germany, Austria and Switzerland said [Tuesday] at the Frankfurt auto show. Google has named auto industry veteran John Krafcik, a former CEO of Hyundai Motors America, as head of its self-driving car project. Google's pet project of driverless cars started in 2009 with an intention to revolutionize the car industry. The hiring of Krafcik is seen as a sign the tech giant is starting to look at the project as a potential and relevant business in the future.
Source: Reuters
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Quotable
"Consumers save money every day when they finance through dealerships, but that truth is getting lost in Washington, and that needs to change."

   -- NADA President Peter Welch, commenting on a new initiative to showcase the true economic value of dealer-assisted financing, Sept. 16

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