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Inside this issue
Last Chance! Early-Bird Registration Discount for NADA Convention Ends Tomorrow, Dec. 4
Auto Industry's Stellar Days Numbered After Solid November
BMW Widens Luxury Lead Over Mercedes, Lexus
Forget the Lawyers: Here's What Will Decide the Volkswagen Suits
Forgiving Car Dealership Owner Owed $25,000 by a Teen Vandal Gives Him a JOB Instead of Pressing Charges
Top Stories
Last Chance! Early-Bird Registration Discount for NADA Convention Ends Tomorrow, Dec. 4

For dealers and their managers planning to attend the 2016 NADA Convention & Expo in Las Vegas, this is the final week to receive the early-bird rate—a $100 discount from the onsite registration rate. Because of the Thanksgiving holiday, the early-bird discount rate was extended to Friday, December 4.

As one of the most popular destinations in the country for meetings and conventions, the popular hotels in Las Vegas are filling up quickly. The NADA convention, which runs from Thursday, March 31, through Sunday, April 3, will be held at the Las Vegas Convention Center.

Considered the “Automotive Industry Event of the Year,” the NADA convention includes keynote speakers and entertainers, dealer-manufacturer franchise meetings, new educational workshops for dealers and managers, hundreds of exhibitors on the expo floor showcasing the latest equipment, services and technologies for dealerships and numerous networking events.

Dealers and their managers who register by Friday, December 4, will receive the early-bird rate—a $100 discount from the onsite registration rate. For more information or to register, visit www.nadaconvention.org/register.
Source: NADA

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Auto Industry's Stellar Days Numbered After Solid November

American auto sales are on pace for a record-setting year, but the underlying economic fundamentals might not last.

The American auto industry was riding high last month and is believed to have just posted its best November in history. Sales numbers have exceeded expectations throughout much of 2015 – which is now on pace to be the best year for auto sales on record. But if November wasn't the peak month for car and truck dealers in the U.S., that time is likely right around the corner. And it'll be a slow roll downhill from there. Prolonged increases to incentive spending aren't considered sustainable, as either manufacturers or dealers (or both) accept lower profit margins than they ordinarily would. But by offering unnaturally low vehicle prices, auto industry executives are effectively able to artificially inflate sales beyond the point when economic fundamentals would warrant a downturn.

Such deals are currently up 6 percent year over year and are only expected to grow in 2016, according to a report published last month by the National Automobile Dealers Association. "We expect rising incentives and for automakers to use their increased manufacturing capacity to chase market share and volume in 2016," Steven Szakaly, the association's chief economist, said in a statement accompanying the report. "In the long run, new-vehicle sales cannot be sustained above 17 million units because of rising interest rates, increasing regulatory compliance costs and wage and income pressure." The National Automobile Dealers Association predicts auto sales will peak next year.
Source: U.S. News and World Report
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BMW Widens Luxury Lead Over Mercedes, Lexus

BMW topped Mercedes-Benz in U.S. luxury sales during November and widened its lead over its German rival for the year. Sales at BMW AG’s namesake brand in November rose 3.2 percent to 32,003, as deliveries of the X3 sport utility vehicle more than doubled. For the year, BMW's U.S. sales grew 4.4 percent to 311,398 vehicles. Mercedes, in its U.S. sales report released today, said November luxury sales fell 13 percent to 30,043 vehicles. For the year, Mercedes' U.S. sales have increased 4 percent to 308,885 vehicles. The results for Mercedes were delayed by a day because of a technical glitch. Lexus remained in a close third, with U.S. sales growing 7 percent to 29,340 vehicles in November. For the year, Lexus sales have surged 12 percent to 303,221 vehicles.
Source: Automotive News
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Forget the Lawyers: Here's What Will Decide the Volkswagen Suits

Since the day it came out that Volkswagen AG cheated diesel-emissions tests, U.S. consumers have been suing and lawyers have been wrangling over where the cases will be heard. But for the cars’ owners and Volkswagen, that fight -- the centerpiece of a hearing Thursday in New Orleans -- doesn’t matter so much because the legal case is actually quite simple. While other recent actions against carmakers have featured gruesome photos showing the dangers of faulty airbags or ignition switches, these suits will largely turn on how much customers should get for being duped into buying high-polluting vehicles. All signs point to an early settlement since “the company has admitted liability” and promised to fix the problem or compensate consumers, said Erik Gordon, law professor at the University of Michigan.
Source: Bloomberg
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Forgiving Car Dealership Owner Owed $25,000 by a Teen Vandal Gives Him a JOB Instead of Pressing Charges

A car dealership that could have sued and pressed charges against a young vandal instead decided to step in and help the troubled boy and his younger friend. In October, workers at the Schulte Subaru dealership of Sioux Falls, South Dakota, asked for the public's help in finding two boys who were caught on video stomping on several cars, causing $25,000 in damage, according to The Argus Leader. Outraged viewers on social media called the boys 'punks' and 'worthless.' Owner Mike Schulte even offered a $1,000 reward to anyone who could identify the vandals from the dealership's  grainy surveillance video, according to KELOLand.com. However, once the youths were identified, a cop called the dealership and relayed the information that the boys were only 14 and 10-years old. Neither had been in trouble with the law before. At this point, owner Mike Schulte realized he could press ahead with a lawsuit and criminal charges - or he could take a different approach. The younger boy was given over to the discipline of his parents. Then Schulte, who has a teen son himself, decided to call the teen's mother - and it was then he realized that he had a chance to make a difference. The boy's disabled mom could not only not remotely afford to pay back the cost of the damaged cars and revealed the boys had had a tough life. The kind-hearted staff at the dealership decided to take him under their wing.
Source: DailyMail.com
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