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September 23, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
New Video: NADA Testifies at Congressional Hearing on Fuel Economy Rules
Cheap Gas Means U.S. Should Ease Auto Efficiency, Lawmakers Say
Clinton Adopts Sanders Proposal to Hike Estate Taxes
Honda Projects Declining U.S. Auto Sales to 'Good Industry' Pace
5 Best Times to Buy a New Car
Revised Wage/Hour Regulations
Top Stories
New Video: NADA Testifies at Congressional Hearing on Fuel Economy Rules

WASHINGTON – NADA President Peter Welch urged lawmakers and regulators on September 22 to keep the issue of vehicle affordability for consumers at the forefront of the debate on increasing fuel-economy standards for new cars and trucks.



"The No. 1 priority at every new-car dealership is to serve its customers by providing them with the choices they want and at prices they can afford," Welch said at the House Energy and Commerce joint subcommittee hearing on the midterm evaluation process for Corporate Average Fuel Economy (CAFE) and greenhouse gas (GHG) regulations. "Every one of our customers deserves to be able to purchase a vehicle that's right for them."

Welch was one of several industry leaders who testified at the subcommittees’ hearing, which examined the impact of CAFE and GHG reduction goals, set the U.S. Environmental Protection Agency and the National Highway Traffic Safety Administration, on new car costs and safety.

"During the midterm review, careful thought needs to be given to keeping the cost of vehicles reasonable and to ensuring that people can still afford to buy a cleaner, greener and safer car or truck they really need or want,” Welch added. “Washington should not make personal mobility so expensive that it is no longer available to the average American.”

Click here to watch the NADA video. Click here to watch the full committee hearing.
Source: NADA

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Cheap Gas Means U.S. Should Ease Auto Efficiency, Lawmakers Say

The U.S. auto industry got strong backing from Republicans in Congress as it petitions the federal government for an easing of fuel-economy rules that carmakers say they cannot meet with low gasoline prices. Leaders on the House Energy and Commerce Committee Thursday echoed industry calls for relief on fuel-economy regulations, citing concern that cheap gas will make it less likely that consumers will buy hybrids and electric cars while making pickup trucks and SUVs more attractive. The cost of new technologies could also push sticker prices beyond the means of most consumers, said Representative Fred Upton, a Michigan Republican.
Source: Bloomberg

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Clinton Adopts Sanders Proposal to Hike Estate Taxes

Democratic presidential candidate Hillary Clinton is calling for additional tax increases on the rich, including upping the ante on her plans to increase the estate tax. Clinton, who had previously proposed raising the tax to 45 percent, while also dropping the threshold at which it would apply, is now adopting Bernie Sanders' proposal to impose higher rates on the very largest estates. The plan is aimed at offsetting the cost of Clinton's other budget proposals. Estates worth more than $10 million would face a 50 percent tax, under the revised plan, while those valued at more than $50 million would pay 55 percent. Billion-dollar estates would pay 65 percent, her campaign said.
Source: Politico Pro (Subscription required.)

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Honda Projects Declining U.S. Auto Sales to 'Good Industry' Pace

Auto sales in the U.S. may not set a record this year and will probably decline from 2015’s record in the coming years, said Honda Motor Co.’s top American sales executive. Trends indicate that the industry will sell 17.3 million to 17.5 million light vehicles this year, compared with last year’s record of almost 17.5 million, Honda’s John Mendel told reporters Thursday on a conference call. Beyond 2017, sales should run between 16 million and 17 million, he said, barring any major shocks, such as a sharp increase in oil prices or tightening of credit.
Source: Bloomberg

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5 Best Times to Buy a New Car

That chill in the air signals not only the onset of autumn but also cooling auto sales. For bargain hunters, this could be a great time to get a good deal on a new car.But sales downturns aren't the only time to buy a new car. New model rollouts, carmakers' redesign schedules and other events can uncover bargains for those who know how to read the tea leaves of the auto market.

Current bargains are available in compact sedans and luxury vehicle segments, while pickup trucks and SUVs still are commanding higher prices, says Steven Szakaly, chief economist for the National Automobile Dealers Association. Auto sales dropped 4 percent year-over-year in August, but Szakaly calls it a "plateau." In fact, 2016 is shaping up to be a strong year with an expected sale of 17.7 million vehicles, the association predicts.
Source: NerdWallet

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September 28 Webinar
Revised Wage/Hour Regulations

NADA Regulatory Affairs -- from 1 p.m. to 2 p.m. ET on Wednesday, Sept. 28 -- will present the webinar, "New Wage/Hour Regulations, Issues and Concerns for Dealerships." Presenters will focus on dealership-specific compliance issues involving the U.S. Department of Labor's recently revised "white collar" overtime exemption rules. The webinar will reference NADA's newly released Dealer Guide to Federal Wage and Hour, Child Labor and Wage Discrimination Compliance. The webinar is free for NADA members. Dealers and their staff can click here to register. For more information, contact NADA Regulatory Affairs at regulatoryaffairs@nada.org.           
Source: NADA

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Past Articles
       
      Quotable
      "Washington should not make personal mobility so expensive that it is no longer available to the average American."

          -- NADA President Peter Welch, in testimony at a congressional hearing on fuel-economy and greenhouse-gas regulations, NADA Video, Sept. 23


       
      "These provisions, if done wrong, could hurt car owners as well as carmakers."


          -- U.S. Rep. Fred Upton, a Michigan Republican, commenting on proposed fuel-economy rules, Bloomberg, Sept. 22

       
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      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


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      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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