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September 8, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Important Deadline in VW Buyback Program
NADA Hires Abram Olmstead to Lead Digital Advocacy
NADA Convention $100 Registration Discount Ends Friday, Sept. 9
Bosch Allegedly Sought VW Legal Cover for Defeat Device
Rising Credit Scores, Volume on the Used Lot
Ford F-150 Named Official Truck of the NFL
Top Stories
Important Deadline in VW Buyback Program

Several dealers have inquired into the significance of the Sept. 16, 2016 deadline set forth in the consent orders between Volkswagen Group of America and the FTC, other governmental agencies, and owners and lessees of the vehicles to which the consent orders apply.  It is the understanding of NADA Regulatory Affairs that the September 16, 2016 deadline applies only to “Eligible Sellers,” which are those who:

(1) Purchased or acquired an eligible vehicle on or before September 18, 2015; and

(2) Sold or transferred ownership of the vehicle after September 18, 2015 but before June 28, 2016.  

Generally, Eligible Sellers include non-Volkswagen (and non-Audi) dealers who held title to an eligible vehicle or held a bill of sale for an eligible vehicle.  An Eligible Seller must identify itself by September 16, 2016 (by registering online at www.VWCourtSettlement.com or submitting an identification form by mail or fax) to receive any benefits.  Other eligible individuals -- such as owners, lessees, and certain former lessees -- have until September 1, 2018 to submit claims.

Additional information on this and related topics will be available during a NADA webinar that will be conducted today (Thursday) from 1 – 2 p.m. ET and will feature attorneys who represented the FTC in this matter.  While the webinar will provide an overview of the VW Buyback Program, its main purpose is to highlight FTC concerns with dealer advertising claims related to the Buyback Program.  The FTC’s concerns were mentioned in two blog posts:

There is no fee to register for the NADA webinar, which is open to dealers, dealer counsel, and other dealer representatives.  To register, click here.
Source: NADA Regulatory Affairs

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NADA Hires Abram Olmstead to Lead Digital Advocacy

NADA announced that it has hired Abram Olmstead, a veteran digital strategist, as the association's digital media director. In this role, Olmstead will oversee NADA's communications efforts across all digital platforms, and lead the development of the association's strategy for using online platforms to communicate with and market to both internal and external audiences. Olmstead will report to NADA's senior director of media and public relations, Jared Allen, who joined NADA's Public Affairs team in February 2015.

Olmstead comes to NADA from the U.S. Chamber of Commerce, where he was the senior manager of digital strategic communications. Olmstead led the chamber's social media and digital marketing efforts, managed the day-to-day messaging, crafted and implemented long-term strategies, and expanded the reach and sophistication of the chamber's digital media presence. Olmstead previously interned at the White House's National Economic Council, as well as the U.S. Department of Labor's Bureau of International Labor Affairs.
Source: NADA

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NADA Convention $100 Registration Discount Ends Friday, 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 Friday, 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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Bosch Allegedly Sought VW Legal Cover for Defeat Device

Robert Bosch GmbH asked Volkswagen AG eight years ago to indemnify it for using the emissions-cheating defeat device the supplier helped the automaker create for its diesel engines, U.S. car owners said in a new version of their lawsuit against both companies. Bosch is accused in the lawsuit of conspiring with VW to develop technology that enabled diesel vehicles to evade pollution-control tests.
Source: Bloomberg


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Rising Credit Scores, Volume on the Used Lot

As a rising number of vehicles come off lease, some industry experts have been trying to decipher how to cope with a flood of used vehicles. How would dealerships handle them all? Sell them, of course. Used-vehicle financing made up 55.6 percent of the auto finance market in the second quarter, compared with 54.3 percent a year earlier, according to Experian, though used-vehicle prices haven’t fallen as they were expected to.
Source: Automotive News

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Ford F-150 Named Official Truck of the NFL

The National Football League has granted the Ford F-150 and the larger, new Super Duty the status of the league's official trucks, a marketing bragging point that became available after General Motors' GMC Sierra ended its sponsorship in late 2014. The Detroit Lions, one of the league's oldest member franchises, is owned by the family of Ford Motor Executive Chairman Bill Ford.
Source: Detroit Free Press

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Past Articles
       
      Quotable
      "At NADA, we view our dealerships as one big family. When a member of our family hurts, we all hurt."

          -- NADA President Peter Welch, urging dealers to support the flood victims in Louisiana by contributing to the NADA Foundation's Emergency Relief Fund, Automotive News, August 27

       
      Sponsored by

      NADA Foundation


      NADA Convention
      NADA Videos

      NADA Foundation's Annette Sykora Urges Dealers to Donate to Louisiana Relief Fund



      Dealership Employee Jeramiah Baker Recounts Devastating Flood Damage in Baton Rouge


      NADA President Peter Welch Calls on Dealers to Support Families Affected 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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