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June 30, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
June Auto Sales Outlook Strong; No Brexit Impact
Glenwood’s Carlson Riding Auto Industry’s High
Advocate for Minority Car Dealers Pushes Diversity
FTC Announces Significant Increase to Civil Penalty Maximums
Three-Quarters of U.S. Drivers Say They’d Cede Wheel to Robot
GM Slashes 4G Broadband Data-Plan Pricing
NADA Foundation Emergency Relief Fund Assists Dealership Employees Affected by West Virginia Flooding
Top Stories
June Auto Sales Outlook Strong; No Brexit Impact

When automakers report their U.S. sales for June there will be no impact from Britain's June 23 vote to exit the European Union because job growth and consumer confidence remain strong here and credit is freely available, according to analysts and industry executives.
Source: Detroit Free Press

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Glenwood’s Carlson Riding Auto Industry’s High

[A]s president of Glenwood Springs Ford, Glenwood Springs Subaru and Summit Ford in Silverthorne, [Jeff Carlson is] halfway through his year as chairman of the National Automobile Dealers Association. NADA represents new-car dealers before Congress, federal agencies, the media and the public. It provides education and support for its 16,000 member dealerships, which have 1.3 million employees. Carlson is traveling a great deal this year, speaking with dealer associations at home and abroad, including a recent appearance in Italy. “It’s a lot of fun,” he said in a recent interview in his West Glenwood office.

His chairmanship comes at a great time for auto dealers, with 2015 sales of new light vehicles hitting a record 17.47 million just six years after the recession sent General Motors and Chrysler into bankruptcy. Ford avoided joining its domestic peers in bankruptcy court by mortgaging most of its assets to borrow $20 billion in 2006, as the industry started a tailspin. Carlson said he believes the auto manufacturers, who have a history of riding economic cycles and periodic complacency, learned their lesson through the 2008-09 crisis. “They became serious and remain serious” about being disciplined, Carlson said. The rebound in sales doesn’t make this a great time just for dealers, he noted. “Between historically low interest rates and low gas prices it’s awesome for the consumer,” he said. “There’s never been a better time for the consumer.”
Source: Post Independent (Glenwood Spring, Colo.)

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Advocate for Minority Car Dealers Pushes Diversity

Damon Lester’s phone typically starts ringing at 7:30 a.m. And it keeps ringing until after 10 p.m. Since taking the wheel of the National Association of Minority Automobile Dealers in 2006, Lester has become the face of the group that advocates for dealership owners of color. Based in Largo, Maryland, the association was founded in 1980 to promote "diversity and inclusion in all aspects of the automotive industry," according to its website. “Damon is very passionate and dedicated about representing NAMAD and all of its dealer members, vendor and manufacturer partners,” said Jenell R. Ross, president of the Bob Ross Auto Group in Dayton, Ohio.
Source: Urban News Service

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FTC Announces Significant Increase to Civil Penalty Maximums

The FTC has issued an interim final rule that increases a variety of civil penalties, including an increase in the maximum civil penalty available for violations of Section 5 of the FTC Act (the portion of the FTC Act addressing unfair or deceptive acts or practices) from $16,000 to $40,000. The proposed increases are issued pursuant to the “Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015,” which passed late last year, and have an effective date of August 1, 2016. For more details, click here.
Source: NADA

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Three-Quarters of U.S. Drivers Say They’d Cede Wheel to Robot

Almost three-quarters of U.S. drivers are eager to replace the daily commute’s drudgery with a self-driving car and 80 percent say they would pay extra to have a robot take the wheel, according to a survey that contradicts other recent studies. AlixPartners said that when the 1,517 people it surveyed were presented with the attributes of self-driving cars, 73 percent said they would want autonomous vehicles to take over all their driving needs. Mark Wakefield, head of the consulting firm’s automotive practice, said 90 percent would let a driverless car handle their commute if they could occasionally take the wheel.
Source: Bloomberg

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GM Slashes 4G Broadband Data-Plan Pricing

General Motors is cutting rates in half on its OnStar 4G LTE data plans, a bid to drive greater use of in-vehicle Internet service and plug what the company sees as a key differentiator. Prices will drop across the tiers of data offered for the 4G service, which allows users to connect up to seven devices to a vehicle’s mobile hot spot. One gigabyte of data drops to $10 per month, from $20, for example. Ten gigabytes now cost $40, down from $80. GM said the economies of scale from more than 3 million vehicles sold with 4G connections over the last two years has allowed the automaker to reduce data plan pricing.
Source: Automotive News

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NADA Foundation Emergency Relief Fund Assists Dealership Employees Affected by West Virginia Flooding

The Emergency Relief Fund of the National Automobile Dealers Charitable Foundation has been mobilized to assist dealership employees affected by the devastating floods in West Virginia. The Fund offers emergency assistance to dealership employees who have been affected by unforeseen emergencies and natural disasters, such as hurricanes, tornadoes, fires, etc.

$14,750 has been distributed to 12 dealership employees in West Virginia [(8) Greenbrier Chevrolet Buick/Ford, (1) Royal Subaru, (1) Lewis Auto Group, (1) Smith Company Motor Car, (1) Joe Holland Chevrolet].

To apply for assistance or to contribute to the Fund call 703-821-7102 or visit www.nada.org/emergencyrelief.

Established in 1992, the Emergency Relief Fund has provided over $5 million to more than 8,700 families.
Source: NADA

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              Quotable
              "Between historically low interest rates and low gas prices it’s awesome for the consumer. There’s never been a better time for the consumer."

                  -- NADA Chairman Jeff Carlson, commenting on auto sales in the U.S., Post Independent, June 26

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