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August 16, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
N.D. Dealers Meet with U.S. Sen. Heitkamp and CFPB Director Cordray
GM CEO Barra Tells Jury Company Flubbed Fatal Ignition Flaw
Volkswagen, U.S. Justice Dept Discuss Settling Criminal Probe
Money Train Rolls On for GM Dealers
Ford Doubling Silicon Valley Workforce in Push Toward Self-Driving Cars
Audi Pioneers Cars That Will 'Talk' to Traffic Signals
Nine Hotels Sold Out; $100 Registration Discount Ends Sept. 9
Top Stories
N.D. Dealers Meet with U.S. Sen. Heitkamp and CFPB Director Cordray

Sen. Heidi Heitkamp (D-N.D.), an influential member of the Senate Banking Committee, met last week with board members from the Automobile Dealers Association of North Dakota. Sen. Heitkamp also invited Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB), to attend the meeting.


Auto dealers host a congressional meeting in Bismarck, N.D., last week. Pictured (l to r): Renard Bergstrom, president of Bergstrom Automotive; Kathleen Gaddie, owner of Ryan Family Dealerships; Ivette Rivera, NADA senior vice president of legislative affairs; Ryan Barth, general manager of Bill Barth Ford; Donovan Bertsch, president of Theel, Inc.; Sen. Heidi Heitkamp; Dan Wilson, CFO/vice president of Corwin Automotive Group; Christian Kostelecky, general manager of Sax Motor Co.; Jesse Peterson, vice president of Eide Ford; Laura Perrotta, NADA senior director of legislative affairs; Rod Wilhelm, owner of Wilhelm Chevrolet-Buick-GMC; and Matthew Larsgaard, president/CEO of the Automobile Dealers Association of North Dakota.

NADA Director Donovan Bertsch and Matthew Larsgaard (ATAE) helped arrange the meeting in Bismarck, N.D. Many dealers traveled several hours across state for the unique opportunity to meet directly with Sen. Heitkamp and Director Cordray to discuss S. 2663, the “Reforming CFPB Indirect Auto Financing Guidance Act,” and deliver the message: “The ability of dealers to discount credit in the showroom is vitally important to our rural customers.”

“Sen. Heitkamp’s willingness not only listen to our concerns, but also urge Director Cordray to visit with the North Dakota dealers was meaningful to our members, dealership employees and most importantly our customers as we work to preserve the ability of dealers to discount credit,” said Bertsch.

“Conducting this meeting in the state allowed the dealers to have a lengthy discussion on the CFPB’s auto finance guidance in a relaxed setting,” said Ivette Rivera, NADA senior vice president of legislative affairs.

“Now is the perfect time for dealers to meet with their senators back home, especially Democratic senators, to demonstrate support for S. 2663, and to explain the benefits of dealer assisted financing and the local dealer perspective on the importance of this service to customers,” Rivera added.

Editor’s note:
NADA is urging dealers to write, call or visit their Democratic senator(s) now to urge support for S. 2663, which would require the CFPB to withdraw the flawed guidance that attempts to eliminate the ability of dealers to discount auto financing for consumers.


NADA’s Dealers Legislative Action Center has talking points and issue sheets and allows dealerships to email, call or use social media to contact senate members. Once you contact your senator, please share any feedback at legislative@nada.org or 202.547.5500. If the senator has any questions or is undecided, let NADA Legislative Affairs staff know immediately so we can follow up.


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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GM CEO Barra Tells Jury Company Flubbed Fatal Ignition Flaw

General Motors Co. failed to designate a flawed ignition switch linked to multiple deaths and injuries as a safety concern, Chief Executive Officer Mary Barra told jurors at a Texas trial. GM engineers in 2004 and 2005 “misdiagnosed it as a customer satisfaction issue and not a safety issue,” Barra said in a video deposition given last year and played at trial Monday by lawyers for the plaintiff.
Source: Bloomberg


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Volkswagen, U.S. Justice Dept Discuss Settling Criminal Probe

Volkswagen AG and the U.S. Justice Department have held preliminary settlement talks about resolving a criminal probe into the automaker's diesel emissions scandal, two sources briefed on the matter said. Reuters reported in June that a criminal settlement could include a consent decree, an independent monitor overseeing the German automaker's conduct and significant yet-to-be determined fines for emissions violations. The Wall Street Journal reported on Monday that the fines could top $1.2 billion.
Source: Reuters

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Money Train Rolls On for GM Dealers

Each quarter since late 2009, General Motors has pumped money into its dealers -- more than $5 billion in all -- to help them revitalize their stores. But now that the vast majority of GM's dealerships have done shiny makeovers, there's no need to pay out all that extra cash, right? Wrong. GM has decided to keep that spigot open for any of its Chevrolet, Buick and GMC dealers who jump through the necessary hoops under the brand standards program called Essential Brand Elements, or EBE.
Source: Automotive News

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Ford Doubling Silicon Valley Workforce in Push Toward Self-Driving Cars

The next decade in the automotive industry will be defined by self-driving vehicles, and Ford is taking the necessary steps to ensure it's at the forefront of the movement, CEO Mark Fields said Tuesday. The Michigan-based automaker announced plans to accelerate its development of self-driving cars, as it races to keep up with its traditional competitors and technology companies alike.
Source: CNBC

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Audi Pioneers Cars That Will 'Talk' to Traffic Signals

Instead of drivers having to worry about a red light, Audi says it is going to start rolling out cars that electronically communicate with traffic signals starting later this year. Initially, the functionality will be rather limited. A display on the instrument panel in front of the driver will show that the traffic light is red and count down the seconds until it is due to turn green.
Source: USA Today

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2017 NADA Convention & Expo
Nine Hotels Sold Out; $100 Registration Discount Ends Sept. 9

The discounted registration rate for NADA members and managers includes admission to NADA 100 Carnival.

Online registration and hotel selection for the 2017 NADA Convention and Expo in New Orleans is now open. NADA members and their managers who register by September 9 will receive a $100 discount.



NADA, founded in 1917, will kick off yearlong events commemorating its 100-year anniversary with NADA 100 Carnival in New Orleans. The exclusive event for NADA members, international affiliates and guests will be held at Mardi Gras World on Thursday, January 26. The Carnival will feature cuisine from top New Orleans restaurants, as well as musical entertainment from Foreigner, Cowboy Mouth and jazz favorites. The NADA member and manager registration fee includes admission to the NADA 100 Carnival. The four-day NADA Convention, which runs from January 26 to 29, includes keynote speakers, dealer franchise meetings, workshops, an Expo and numerous networking events. Click here to register.
Source: NADA

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Past Articles
       
      Quotable
      "A series of mistakes were made over a period of time that caused the ignition-switch defect. This had tragic consequences."

          -- General Motors CEO Mary Barra in testimony at a Texas trial, Bloomberg, August 15

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