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Inside this issue
Automotive News Editorial: Help Louisiana's Displaced Dealership Workers
August U.S. Auto Sales Fall; Carmakers Say Industry Has Peaked
REMINDER: 'Do-Not-Call' Registration Requirement; FTC Announces Increase in Registration Fees Beginning Oct. 1, 2016
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
Automotive News Editorial: Help Louisiana's Displaced Dealership Workers

[D]ealership employees are still struggling to put their lives back together. Employees who lost homes, goods or personal vehicles to record flooding following freakishly heavy storms need immediate financial assistance. The National Automobile Dealers Association is expediting payouts of up to $1,500 to affected employees.

NADA President Peter Welch, who toured the Baton Rouge area last week to survey the damage and speed relief, is asking each U.S. new-car dealership to contribute at least $1,000 to the group's emergency relief fund. He hopes to raise at least $2 million to help dealership victims.

Auto dealerships -- and their employees -- have a long, deep tradition of charitable activity. Most efforts are directed at the local needs that individual stores and employees know well. But in Louisiana, many individual needs are unmet even as businesses reopen and the infrastructure is repaired. Dealership workers need vehicles to get to work. They need to feed, clothe and house their families. It's time to help. To contribute, visit the NADA website at nada.org/EmergencyRelief.
Source: Automotive News

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August U.S. Auto Sales Fall; Carmakers Say Industry Has Peaked

U.S. auto sales fell 4.2 percent in August as some major automakers said a long-expected decline due to softer consumer demand had begun, possibly sparking a shift to juicer customer incentives and slower production. The top three sellers, General Motors Co., Ford Motor Co. and Toyota Motor Corp. on Thursday reported declines of at least 5 percent. Of the seven top manufacturers by sales, only Fiat Chrysler Automobiles reported a gain versus a year ago, when sales were restated to about 11,000 fewer than originally reported.
Source: Reuters


Editor’s note: “Clearly we are reaching the peak for auto sales and pent up demand is quickly receding,” says NADA Chief Economist Steven Szakaly. “While we still feel this year is likely to finish strong, we are moving into a period of lower growth with stable sales around 17 million. The larger question will be whether the industry will chase volume with incentives as sales move into a long industry plateau.”

Related story:


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REMINDER: 'Do-Not-Call' Registration Requirement; FTC Announces Increase in Registration Fees Beginning Oct. 1, 2016

Before making any telemarketing call (or having one made on your behalf), you generally must ensure that the number called is not contained on the National “Do-Not-Call” (DNC) registry. As a reminder, any dealer seeking to access the DNC registry must first register with the Federal Trade Commission and, if applicable, must annually pay the associated fees. The FTC announced increases to the DNC registration fees for FY 2017. The cost for each area code of data will increase to $61 (from $60), and the maximum amount that will be charged to any single entity for accessing area codes of data will increase to $16,714 (from $16,482). Dealers who wish to have access to only five or fewer registered area codes from the DNC registry are exempt from the fee requirement (but must still register with the FTC). Dealerships that register six or more area codes must pay the fee when they renew their current subscription accounts. Click here for more information.
Source: FTC

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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 can 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
      "Everybody keeps talking about the wind-down or slowdown. We haven't had a market this good in the years that I've been in the business."

          -- Jack Fitzgerald, owner of dealerships in Maryland, Pennsylvania and Florida, commenting on auto sales in August, The Wall Street Journal, September 1

       
      Sponsored by

      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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      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 .