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June 28, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Volkswagen to Face $15 Billion Tab in U.S. Settlement
Takata CEO Says He'll Step Down Once 'New Regime' is in Place
Enforcement of "Persuader" Rule Blocked
NADA Webinar: 'Employer Branding: Drive More Applicants to Your Dealership'
Dealers Still See Subprime Availability as Big Players Adjust
Lincoln to Provide Free Pickup, Delivery for Service Vehicles
The Merging Worlds of Technology and Cars
Why Consumers Are Always ‘Passively Shopping’ For Next Vehicle
NADA Urges Dealers to Meet with Members of Congress at Home During Upcoming Recesses
Top Stories
Volkswagen to Face $15 Billion Tab in U.S. Settlement

Volkswagen AG’s price tag to settle lawsuits in the U.S. over its rigging of diesel emissions tests has jumped to more than $15 billion -- $5 billion more than previously reported -- on the eve of a settlement to be filed Tuesday in a San Francisco court. Under the deal, VW will set aside up to $10.03 billion to cover costs including buying back vehicles at pre-scandal values and compensating drivers as much as $10,000 per car for their troubles, two people familiar with the negotiations said. Those figures could rise if VW misses certain deadlines.
Source: Bloomberg

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Takata CEO Says He'll Step Down Once 'New Regime' is in Place

Takata Corp.'s CEO said he will resign after a "new management regime" is found, finally heeding calls for change so that the auto parts supplier can move ahead in dealing with a multibillion dollar airbag recall. Takata, one of the world's largest suppliers of auto safety equipment, has been searching for a financial backer to help it overhaul the business and carry ballooning costs.
Source: Reuters

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Enforcement of "Persuader" Rule Blocked

A federal court enjoined the U.S. Department of Labor (DOL) from enforcing its so-called "persuader" rule, noting that it undermines employers' rights to secure legal advice on union organizing. The "persuader" rule was set to take effect on July 1. Among other things, the court held that the DOL failed to adequately explain changes from its prior position on persuader activity. In doing so, it cited last week's Supreme Court decision in Encino Motorcars, LLC v. Navarro, which held that the DOL had similarly failed to properly justify a change to its long-standing position that service writers are exempt from overtime. The "persuader" rule attempts to require employers and their outside lawyers and consultants to report on any efforts they make to persuade employees on their right to organize or bargain collectively. A June 16 NADA webinar covered compliance with the rule. Questions on the rule, the injunction, or the webinar can be directed to NADA Regulatory Affairs at regulatoryaffairs@nada.org or 703.821.7040. 
Source: NADA

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NADA Webinar: 'Employer Branding: Drive More Applicants to Your Dealership'

NADA University will host the webinar "Employer Branding: Drive More Applicants to Your Dealership" Thursday, June 30 at 1 p.m. ET. The free webinar will discuss how to assess a dealership's online reputation through the lens of prospective employee. Paricipants will learn how to evaluate their company website and give job descriptions a competitive advantage. For more information and to register, click here.
Source: NADA

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Dealers Still See Subprime Availability as Big Players Adjust

The size of the U.S. subprime population is getting smaller — at least that’s what FICO says. And large finance companies such as General Motors Financial again acknowledged that the segment of its portfolio composed of subprime paper will continue to diminish, too. However, dealerships that participated in KeyBanc Capital Markets’ monthly survey indicated that they’re still able to obtain financing for their vehicle buyers, even if they fall into the subprime credit tier.
Source: Auto Remarketing

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Lincoln to Provide Free Pickup, Delivery for Service Vehicles

Lincoln, in a bid to stand out among larger luxury brands, [Tuesday] said it will provide free pickup and delivery of service vehicles to new owners starting with 2017 models. The company will pick up a customer’s car at any location, leave a Lincoln of equal or greater value to use as a loaner, and then return the owner’s car after work on it is finished. Lincoln Service Valet will be part of the vehicle’s warranty coverage and available throughout the U.S.
Source: Automotive News

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The Merging Worlds of Technology and Cars

The line between the technology and automotive industries is blurring. The rise of rideshare companies such as Uber and Lyft means that transportation is being tied ever more closely to your cell phone, while autonomous driving technology is turning your car into a computer. But these developments are expensive: Carmakers’ R&D budgets jumped 61 percent, to $137 billion from 2010 to 2014.
Source: Bloomberg

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Why Consumers Are Always ‘Passively Shopping’ For Next Vehicle

Automotive marketing and advertising company Jumpstart Automotive Group released its latest shopper study on Monday, drilling deeper down into the behavior patterns of women and millennials as well as Asian and Hispanic shoppers. While each of those demographics showed some unique characteristics, Libby Murad-Patel pinpointed what might be most important to dealerships on how to handle any customer who walks into the showroom or skims the store website with their computer or mobile device.
Source: Auto Remarketing

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NADA Urges Dealers to Meet with Members of Congress at Home During Upcoming Recesses

The upcoming congressional recesses this summer provide an ideal opportunity for dealers to meet with their members of Congress to discuss NADA's legislative priorities. The congressional recess schedule for the House and Senate is June 23 to July 5, and July 18 to September 6.


NADA Vice Chairman Mark Scarpelli (right), and president of Raymond Chevrolet and Kia in Antioch, Ill., hosts a visit with U.S. Rep. Randy Hultgren (R-Ill.) at the dealership on June 3, 2016.


Meetings with members of Congress at home – either at their district offices or at the dealership – go a long way toward supporting NADA's legislative efforts on Capitol Hill. Specifically, dealers should ask their Democratic Senators to support and vote for S. 2663, the "Reforming CFPB Indirect Auto Financing Guidance Act," which would require the CFPB to withdraw the flawed guidance that attempts to eliminate the ability of dealers to discount auto financing for consumers. For the Issue Brief and Myths vs. Facts sheet on S. 2663, click here.

For assistance in setting up a meeting with your member of Congress, click here for NADA's grassroots brochure, "3 Easy Steps." For additional assistance in setting up a visit at a congressional district office or at the dealership, contact Patrick Calpin, NADA director of grassroots advocacy, at 202.547.5500 or pcalpin@nada.org.
Source: NADA

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              Quotable
              "Our dealers view this as a way to differentiate the client experience for Lincoln owners. No matter what Lincoln vehicle clients have from our portfolio, they have the peace of mind of getting that vehicle to and from service at a location of their choice, with a complimentary Lincoln loaner in order to maintain their busy schedules."

                  -- Andrew Frick, North American director of sales and services for Lincoln, on the automaker's new service plan, Automotive News, June 28

               
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