View Web Version

SPONSORED BY
NADA.org
August 31, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
NADA Video: Dealership Employee Jeramiah Baker Recounts Devastating Flood Damage in Baton Rouge
CDK Global Announces $10,000 Grant to NADA Fund for Families Affected by Louisiana Floods
U.S. Auto Sales Seen Sliding for August on Dialed-Down Discounts
VW Could Agree U.S. Large-Car Diesel Emissions Settlement by October
Autotrader Partners with MSN Autos to Provide Online Vehicle Shopping Info
Proposed Regulations Would Limit Valuation Discounts For Gift and Estate Taxes
FTC Issues Warning to Sellers of Certain VW Vehicles
12 Hotels Sold Out; $100 Registration Discount Ends Sept. 9
Top Stories
NADA Video: Dealership Employee Jeramiah Baker Recounts Devastating Flood Damage in Baton Rouge

Adopt a dealership family at www.nada.org/emergencyrelief

Residents of Baton Rouge, La., awoke on August 15, 2016, to the worst flooding disaster in the United States since Hurricane Sandy. Jeramiah Baker, a service writer at Robinson Brothers Ford-Lincoln in Baton Rouge, suffered extensive damage to his home and wife’s car.

“Our houses were filled with water seven feet deep,” Baker said in an exclusive NADA video interview. “It took me and six to 10 people over the course of a week to get everything out of my house … from the drywall, electrical outlets, windows and doors.”



More than 140,000 families were displaced in the flooding, and 1,500 dealership families were forced to evacuate, according to early estimates.

"We all lost 20-plus years of our lives ... memories, pictures and personal items, including my mom and dad's stuff,” he added.

Baker said he plans to use a $1,500 relief check he received last week from the National Automobile Dealers Charitable Foundation to buy beds for his daughters, Automotive News reported.

To apply for assistance or to contribute to the fund, visit www.nada.org/emergencyrelief or call 703.821.7233. Personal or corporate checks can be made payable to NADCF Emergency Fund, c/o NADCF, 8400 Westpark Drive, MS 7, Tysons, VA 22102. (Donations to the NADA Foundation are generally tax-deductible; contributors should consult their tax advisors for details.)
Source: NADA Foundation

Related story:


[back to top]

CDK Global Announces $10,000 Grant to NADA Fund for Families Affected by Louisiana Floods

Donate today at www.nada.org/EmergencyRelief

CDK Global has announced a $10,000 donation to the National Automobile Dealers Charitable Foundation's Emergency Relief Fund to support dealership families displaced by the recent flooding in Baton Rouge, La., and surrounding communities.

"Our hearts go out to the families affected by this tragedy," said Yvonne Surowiec, chief people officer at CDK Global. "Supporting communities, during times of crisis is a part of our core values. It's our sincere hope that these funds help the community and people affected recover and rebuild."
  
In a NADA video released last week, Peter Welch, president of the National Automobile Dealers Association, walked through the flood-ravaged areas of Baton Rouge describing the damage to homes. NADA is urging the entire auto industry to support the flood victims.

"We commend CDK Global for this generous donation, and encourage other allied companies to do the same by making a donation today to the NADA Foundation's Emergency Relief Fund," Welch said. "Now that the flood waters have receded and the damage has been assessed, the requests for financial assistance are growing each day."

To donate to the NADA Foundation fund, visit www.nada.org/emergencyrelief or call 703.821.7233. Personal or corporate checks can be made payable to NADCF Emergency Fund, c/o NADCF, 8400 Westpark Drive, MS 7, Tysons, VA 22102. (Donations to the NADA Foundation are generally tax-deductible; contributors should consult their tax advisors for details.)
Source: CDK Global/NADA Foundation

[back to top]

U.S. Auto Sales Seen Sliding for August on Dialed-Down Discounts

Automakers’ decision to scale back U.S. discounts in August is a sign they’re willing to maintain some price discipline, even if it raises the odds that industrywide annual sales will fall for the first time in seven years. August reports arriving on Thursday may show a seasonally adjusted annual sales pace of about 17.2 million cars and light trucks, according to a Bloomberg survey of analysts, down from a 17.9 million rate in July that was the highest of the year.
Source: Bloomberg

[back to top]

VW Could Agree U.S. Large-Car Diesel Emissions Settlement by October

Volkswagen AG could reach a "final" settlement with U.S. authorities as early as October over its large-engine diesel cars found to have cheated emissions tests in a global scandal, the sales chief of its premium Audi brand said. Dietmar Voggenreiter, head of sales and marketing worldwide for Audi, told Reuters in an interview in Hong Kong on Wednesday that negotiations related to 3.0-litre engine VW and Audi cars were progressing well. "(We're) in really good discussions with U.S. authorities," said Voggenreiter. "Hopefully in October, latest the beginning of November, we will have the final agreement with the U.S."
Source: Reuters

[back to top]

Autotrader Partners with MSN Autos to Provide Online Vehicle Shopping Info

Beginning [August 30], MSN Autos users shopping for vehicles in the U.S. will see search results provided by Autotrader. Autotrader is partnering with MSN to provide new, used and certified pre-owned vehicles on the MSN Autos website. Users who enter make and model information into the MSN website will now be sent to search results page branded with both companies’ logos to view matching listings, Autotrader said in a statement ...
Source: Automotive News

[back to top]

Proposed Regulations Would Limit Valuation Discounts For Gift and Estate Taxes

The IRS has issued proposed regulations that are intended to disallow or significantly curtail many valuation discounts.  These discounts are one of the most effective methods used by dealers in estate planning.  Dealers who are considering making gifts of family owned dealership or related business entities that would be eligible for valuation discounts should consult with their tax advisor about whether to act quickly to make those transfers prior to the regulations being finalized.  Crowe Horwath LLP has created a brief summary of this development.
Source: NADA Regulatory Affairs

[back to top]

FTC Webinar: September 8
FTC Issues Warning to Sellers of Certain VW Vehicles

The Federal Trade Commission (FTC) has asked NADA to provide its members with a business blog that cautions sellers of certain VW and Audi diesel vehicles (including dealers of other brands) not to make false claims regarding the recent proposed consent orders concerning those vehicles that the Volkswagen Group of America has entered into with the FTC, other governmental agencies, and owners and lessees of the vehicles.  Details of the proposed settlements are available at VWCourtSettlement.com.  In order to enhance dealers’ understanding of both the VW buyback program that is part of the proposed settlement and the concerns set forth by the FTC in its business blog, NADA has arranged for the FTC to present information on these topics in an NADA University Online webinar that will take place on Thursday, Sept. 8, 2016 from 1 p.m. – 2 p.m. ET.  Dealers and their representatives may click here to register.
Source: NADA

[back to top]

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

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

NADA members and managers who register for the 2017 NADA Convention and Expo in New Orleans 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

[back to top]

Past Articles
       
      Quotable
      "We commend CDK Global for this generous donation, and encourage other allied companies to do the same by making a donation today to the NADA Foundation's Emergency Relief Fund. Now that the flood waters have receded and the damage has been assessed, the requests for financial assistance are growing each day."

          -- NADA President Peter Welch, NADA Headlines, August 31

      Sponsored by

      NADA Foundation


      NADA Convention
      Videos

      Donate Today. Help Dealership Families Impacted by Louisiana Flooding


      NADA100 Video: Don Wassel Works in Auto Retailing for 53 Years


      Introducing NADA Academy Plus
      NADA Webinars
      Sept. 8: FTC Issues Warning to Sellers of Certain VW Vehicles

      All webinars are held at 1 p.m. ET unless otherwise noted.

      NADA members can view past webinars on-demand at no charge at NADA University Online. Members must create an NADA account before viewing.

       
      Search Back Issues | Unsubscribe | Subscribe | Manage your subscription | email us
      NADA For more information on NADA, visit www.nada.org or contact NADA, 8400 Westpark Drive, McLean, VA 22102. This email may contain an advertisement of NADA products and services. Any opinions or statements contained herein do not necessarily reflect the views of NADA. Factual errors are the responsibility of the listed publication. If you are a franchised new-car or -truck dealer and would like to become a member of NADA, please visit the Join NADA section of www.nada.org. Questions or comments concerning NADA Headlines content may be directed to publicaffairs@nada.org .