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Inside this issue
August U.S. Auto Sales Seen Falling about 3 Percent
NHTSA Proposes Digital Recall Notices to Increase Repair Rates
California's Zero-Emission Vehicle Program is Stuck in Neutral
Proposed Regulations Would Limit Valuation Discounts For Gift and Estate Taxes
FTC Issues Warning to Sellers of Certain VW Vehicles
14 Hotels Sold Out; $100 Registration Discount Ends Sept. 9
Top Stories
August U.S. Auto Sales Seen Falling about 3 Percent

August U.S. auto sales on Thursday are seen declining around 3 percent from a year ago, as it appears that sales this year may not top the record set in 2015. Major U.S. carmakers will issue sales reports throughout the day, the largest ones coming in the morning. August U.S. sales on a seasonally adjusted annualized rate are seen at 17.25 million vehicles, with forecasts ranging from 16.9 million to 18 million vehicles, according to a survey of 35 economists by Thomson Reuters.
Source: Reuters

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NHTSA Proposes Digital Recall Notices to Increase Repair Rates

Automakers would be required to notify owners of vehicle recalls electronically through emails, text messages or other digital tools under a rule change proposed by U.S. auto safety regulators to increase the rate of repairs. Recall notices sent via first-class mail would still be required, but under the proposal, automakers would be able to choose the “electronic means they feel are most effective” in order to maximize the number of repairs in a recall campaign, according to the National Highway Traffic Safety Administration.
Source: Automotive News

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California's Zero-Emission Vehicle Program is Stuck in Neutral

Toyota's zero-emission vehicle sales in California this year amount to a drop of hydrogen in an ocean of gasoline. And yet the automaker will have no trouble meeting California’s zero-emission vehicle mandates – because it can satisfy those obligations with state-awarded environmental credits instead of current zero-emission vehicle sales. The Toyota example underscores how the California’s complex credit system has left the state well off the pace needed to meet its clean-car sales goals. The system also masks a more fundamental problem with the business of selling zero-emission vehicles – weak demand from consumers.
Source: Reuters

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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

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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

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2017 NADA Convention & Expo
14 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

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Past Articles
       
      Quotable
      "Looking forward [to the next few years], we continue to see industry sales as strong but at a lower level than this year."

          -- Mark LaNeve, head of U.S marketing, sales and service for Ford, Automotive News, September 1
       
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      NADA Foundation


      NADA Convention
      NADA Videos

      Dealership Employee Jeramiah Baker Recounts Devastating Flood Damage in Baton Rouge


      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.

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