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Inside this issue
NADA Releases New Guide on Wage and Hour Law
More Than 3,800 Groups -- including NADA and ATD -- Oppose Proposed Estate Tax Valuation Rules
NADA: Overreaching Federal Regulations Hurt Consumers with Higher Costs
Takata in Talks to Resolve Allegations of Criminal Wrongdoing Over Faulty Air Bags
CPO Forum in Las Vegas Offers Free, VIP Passes to NADA Member Dealers and Managers
World's Largest Automakers 2016: Toyota Pulls Ahead Of Volkswagen -- By A Hair
Top Stories
NADA Releases New Guide on Wage and Hour Law

The new Dealer Guide to Federal Wage and Hour, Child Labor and Wage Discrimination Compliance (L01) is now available on NADA University Online (username and password are required). It provides franchised automobile and commercial truck dealerships an overview of the federal law on wage and hour, child labor and wage discrimination, along with dealership-specific suggestions for compliance. The guide includes a discussion of the U.S. Department of Labor's amendments to the "white collar" employee overtime exemptions scheduled to take effect Dec. 1, 2016. The guide is available at no charge to NADA and ATD members and for a nominal charge to nonmembers.
Source: NADA

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More Than 3,800 Groups -- including NADA and ATD -- Oppose Proposed Estate Tax Valuation Rules

NADA and ATD were among 3,847 organizations that signed a letter today to Treasury Secretary Jacob Lew expressing strong concerns about the potential impact of proposed estate tax valuation rules, which “would impose significant new tax costs on family-owned businesses.”
 
The proposed regulations, under Internal Revenue Section 2704, the “minority discount rules,” released by the Treasury Department on August 2, 2016, threaten the ability of auto dealers to pass their dealerships on to the next generation and diverts capital away from dealerships. The groups have requested that the Treasury Department withdraw these regulations.
 
“The proposed guidance is one of the most sweeping changes to estate tax policies in the last 25 years and would be detrimental to active enterprises and family-owned businesses that employ millions of workers throughout the nation,” the groups wrote in the letter. Click here to view the letter, which includes the list of signatories.
 
NADA will also submit its own comments to the Treasury Department and will conduct a webinar on this topic on Thursday, October 20 at 1 p.m. ET. Additional details about the webinar will be provided soon.
Source: NADA

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Oct. 5: NADA to Deliver Policy Speech in Detroit
NADA: Overreaching Federal Regulations Hurt Consumers with Higher Costs


DETROIT -- In upcoming remarks to the Automotive Press Association in Detroit, NADA Chairman Jeff Carlson will discuss its public policy initiatives, which aim to protect consumers from overreaching federal regulations concerning auto financing, recalls and fuel economy.

TIME & DATE:
11:30 a.m., Wednesday, Oct. 5, 2016
LOCATION:
Detroit Athletic Club

Carlson, a Ford and Subaru dealer in Colorado, will also discuss the broader benefits of the dealer franchise network for consumers, automakers and local communities. He represents Colorado’s new-car and -truck dealers on NADA’s board of directors.

NADA represents nearly 16,500 new-car and -truck dealerships, with both domestic and international franchises. To register, contact Bruce Weintraub at automotivepressassociation@gmail.com.
Source: NADA

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Takata in Talks to Resolve Allegations of Criminal Wrongdoing Over Faulty Air Bags

Justice Department weighs charge, financial penalty against Japanese automotive supplier

Takata Corp. is negotiating to resolve allegations of criminal wrongdoing ​after federal prosecutors found evidence of unlawful conduct in the Japanese automotive supplier’s handling of rupture-prone air bags linked to numerous deaths and injuries, said people familiar with the matter. U.S. Justice Department investigators have held preliminary discussions with Takata that picked up steam in August, the people said. Prosecutors are currently awaiting a proposal from the company on how to resolve an anticipated criminal case, the people said. The discussions are continuing without a firm timetable for reaching a settlement, they said.
Source: The Wall Street Journal

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CPO Forum in Las Vegas Offers Free, VIP Passes to NADA Member Dealers and Managers

CPO Forum - America’s Used Car Conference, presented by AutoTrader, will be held Nov. 14-15, 2016, at the Red Rock Resort in Las Vegas as part of Used Car Week 2016. As a special offering for this year’s event, sponsors have joined with the conference to offer a limited number of free, VIP tickets to NADA member dealers and managers. To claim your VIP ticket to this event, visit http://cpo.autoremarketing.com and enter the discount code: NADACPO.

The CPO conference will highlight best practices, provide insight into the data and metrics behind the CPO surge and provide dealers and managers with important information and guidance on maximizing CPO sales. For more information, contact Bill Zadeits at bzadeits@cherokeemediagroup.com or 919.674.6020 ext. 117.
Source: CPO Forum

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World's Largest Automakers 2016: Toyota Pulls Ahead Of Volkswagen -- By A Hair

Who will be the world’s largest automaker by the end of the year? As the race between global giants Toyota Motor Corp and Volkswagen AG gets increasingly tighter, the answer likely will remain in doubt for months to come. Earlier in the year,  Toyota was out-delivered by Volkswagen, and the supposedly dieselgate-doomed German automaker had a clear shot at reaching its declared target and become the world’s largest. Today, the picture changed. After a sudden push in August deliveries, Toyota now leads VW – not by a whole lot, though.
Source: Forbes.com

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Past Articles
       
      Quotable
      "The proposed guidance is one of the most sweeping changes to estate tax policies in the last 25 years and would be detrimental to active enterprises and family-owned businesses that employ millions of workers throughout the nation."

          -- 3,847 organizations, including NADA and ATD, wrote in a letter to the Treasury Secretary, concerning the potential impact of proposed estate tax valuation rules, NADA Headlines, Sept. 28

       
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