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October 12, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Metro Chicago Auto Dealer Mark Scarpelli Elected 2017 NADA Chairman
Toyota Motor, Suzuki in Talks on Business Partnership
BMW Sees Electric Cars Pushing Into Mainstream in Tesla Race
Oct. 12: CPO: The 'New' Used
Oct. 20: Proposed IRS Regulations Seek to Limit Valuation Discounts
Top Stories
Metro Chicago Auto Dealer Mark Scarpelli Elected 2017 NADA Chairman

Michigan dealer Wes Lutz elected as NADA vice chairman.

The National Automobile Dealers Association’s 63-member board of directors has elected Mark Scarpelli as chairman for 2017.


NADA elects new officers for 2017. Mark Scarpelli (right) was elected chairman, and Wes Lutz (left) was elected vice chairman.

“I'm honored to be elected chairman, and look forward to working with the NADA board and new-car and -truck dealers across the country,” said Scarpelli, who represents metropolitan Chicago’s auto dealers on NADA’s board. “Traveling this past year as NADA vice chairman, I can tell you that NADA is well prepared for any issues that comes its way.”

Scarpelli is president of Raymond Chevrolet and Raymond Kia in Antioch, Ill., and co-owner Ray Chevrolet and Ray Chrysler-Jeep-Dodge-Ram in Fox Lake, Ill. His dealerships employ more than 350 people, and have been in business for 56 years. 

“Moving forward I plan on continuing with many initiatives, which include promoting the consumer benefits of the franchise system, working with auto manufacturers and advocating our issues on Capitol Hill, as well as identifying and getting the next generation of dealers involved with NADA,” Scarpelli added.

Wes Lutz, who represents Michigan’s new-car dealers on NADA’s board, was elected as vice chairman. He is president of Extreme Dodge-Chrysler-Jeep-Ram in Jackson, Mich.

Bill Willis, president of Willis Automotive Group (Chevrolet-Buick-Ford) in Smyrna, Del., was re-elected as secretary.

Brian Hamilton, president of Midway Chevrolet-Cadillac-Buick and Midway Chrysler-Dodge-Jeep in Kearney, Neb., and Beardmore Subaru in Bellevue, Neb., was elected treasurer.

The new term officially begins at the 2017 NADA Convention and Expo in New Orleans in January.

The election took place at NADA’s board meeting in Rancho Mirage, Calif., on Oct. 11, 2016.
Source: NADA

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Toyota Motor, Suzuki in Talks on Business Partnership

Car makers said they would explore cooperation on new vehicle technologies

Toyota Motor Corp. said Wednesday it was in talks with Suzuki Motor Corp. to share the burden of developing self-driving cars and low-cost vehicles, a step the companies said was needed to survive “unprecedented” change. From tighter regulations that threaten the dominance of the gasoline engines to challenges from Silicon Valley upstarts, car companies around the world are finding it easier to share the cost of developing new technologies than to go it alone. “There is a limit to the research and development that a company can do individually,” said Akio Toyoda, president of Toyota.
Source: The Wall Street Journal

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BMW Sees Electric Cars Pushing Into Mainstream in Tesla Race

BMW AG expects sales of its electrified cars to surge in the next decade as the technology hits the mainstream, putting it in a race against Tesla and Mercedes-Benz. Plug-in hybrids and all-electric cars across the BMW and Mini brands could account for between 15 percent and 25 percent of sales in about 10 years, BMW Chief Executive Harald Krueger said in a Bloomberg Television interview. To put it in context, that’s potentially more than half a million cars based on 2015 sales of 2.25 million vehicles, and compares with a 2 percent share of deliveries now.
Source: Bloomberg

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Upcoming Webinars
Oct. 12: CPO: The 'New' Used

Participants will discover opportunities for more qualified inventory and sales growth. Howard Polirer from Cox Automotive will discuss findings from the annual Autotrader CPO study and assess buyer trends, perceptions and customer engagement. Click here to register.

Time & Date:  1 p.m. ET, Wednesday, Oct. 12, 2016
Duration:
  30 minutes
Source: NADA

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Oct. 20: Proposed IRS Regulations Seek to Limit Valuation Discounts

The IRS in August 2016 issued proposed regulations under IRC section 2704 that are intended to disallow or significantly curtail many valuation discounts used in estate planning. Learn about the impact of the new regulations on valuation reports and on intra-family transfers of dealership stock. Explore actions to consider (with assistance from legal advisors) to take full advantage of discounts available under the current law and estate planning strategies available after the regulations take effect. Click here to register.

Date & Time:  1 p.m. ET, Thursday, Oct. 20, 2016
Presented by:  Marvin Hills and Stuart McCallum from Crowe Horwath, LLP
Duration:  60 minutes
Source: NADA


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Past Articles
       
      Quotable
      “Moving forward I plan on continuing with many initiatives, which include promoting the consumer benefits of the franchise system, working with auto manufacturers and advocating our issues on Capitol Hill, as well as identifying and getting the next generation of dealers involved with NADA."

          -- Mark Scarpelli, who was elected by NADA's board of directors as chairman for 2017, NADA Headlines, Oct. 12

       
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      NADA Foundation


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      NADA Chairman Delivers Remarks to Automotive Press Association in Detroit


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      Introducing NADA Academy Plus

      NADA Webinars
      Oct. 12:  CPO: The 'New' Used (1 p.m. ET)

      Oct. 20:  Proposed IRS Regulations Seek to Limit Valuation Discounts (1 p.m. ET)


      NADA members can view past webinars on-demand at no charge at NADA University Online. Members must create an NADA account before viewing.
      NADA Chairman's Commentary
      Support NADA's Baton Rouge Flood Relief Efforts
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