View Web Version

SPONSORED BY
NADA.org
October 18, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Oct. 20 Webinar: Proposed IRS Regulations Seek to Limit Valuation Discounts
Ford Will Cut Production of F-Series, Other Models as Demand Slows
VW Seeks Final Approval of Emissions Deal Without Fix in Hand
Used Car Prices Are Still Falling
How Apple Scaled Back Its Titanic Plan to Take on Detroit
Auto Dealers Distribute 7,300 New Winter Coats to Students in Need from the School District of Philadelphia
Top Stories
Oct. 20 Webinar: 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.  

As part of the NADA/ATD Webinar Series, Marvin Hills and Stuart McCallum from Crowe Horwath, LLP, will present the 60-minute webinar, "Proposed IRS Regulations Seek to Limit Valuation Discounts," at 1 p.m. ET on Thursday, Oct. 20, 2016.  

They will discuss the impact of the new regulations on valuation reports and on intra-family transfers of dealership stock, as well as 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.
Source: NADA

[back to top]

Ford Will Cut Production of F-Series, Other Models as Demand Slows

In a fresh sign of pressure on U.S. automakers, Ford Motor Co. on Monday said it will shut down production of its best-selling F-150 pickup truck for a week at a Kansas City assembly plant, and temporarily idle three other plants over the next several weeks. About 13,000 Ford hourly workers will be laid off during the temporary shutdowns. There are nearly 14,000 workers at the four plants, the company said. Some of them are salaried managers. Of the layoffs, about 4,000 will be in Mexico and about 9,000 in the United States. The cuts will hit Ford's three highest-volume models in the United States.
Source: Reuters

[back to top]

VW Seeks Final Approval of Emissions Deal Without Fix in Hand

Volkswagen AG is asking for a final sign-off on its $14.7 billion settlement with drivers as it continues to seek regulators’ approval of a fix for 482,000 pollution-spewing vehicles still on U.S. roads. Without an approved repair, VW may be left with only one option: buy back the cars with so-called defeat devices from the owners. And the German automaker might have to do the same for a smaller group of vehicles with larger 3.0-liter diesel engines equipped with the emissions-cheating software.
Source: Bloomberg

[back to top]

Used Car Prices Are Still Falling

Generous incentives on new cars, trucks and SUVs, and a growing supply of used vehicles continues to put pressure on used car prices. McLean, Va.-based NADA Used Car Guide says wholesale prices of vehicles up to eight years old fell by 3.6 percent in September, making the month’s performance the largest decline recorded in 2016. As a result, its used car guide says used vehicle prices at the consumer level fell by 1 percent, pushing its used car price index to the lowest since March 2011.
Source: WTOP

[back to top]

How Apple Scaled Back Its Titanic Plan to Take on Detroit

Apple Inc. has drastically scaled back its automotive ambitions, leading to hundreds of job cuts and a new direction that, for now, no longer includes building its own car, according to people familiar with the project. Hundreds of members of the car team, which comprises about 1,000 people, have been reassigned, let go, or have left of their own volition in recent months, the people said, asking not to be identified because the moves aren’t public.
Source: Bloomberg

[back to top]

Auto Dealers Distribute 7,300 New Winter Coats to Students in Need from the School District of Philadelphia

In its ninth year, new vehicle dealers in the five-county Philadelphia area will donate a record number of 45,070 free new coats to less fortunate children this fall through its Driving Away the Cold program, a philanthropic initiative of the Philadelphia Auto Show and the Auto Dealers CARing for Kids Foundation. The Foundation’s largest distribution event, held at the Pennsylvania Convention Center on Tuesday, Oct. 18, will give more than 7,300 new coats to elementary students in the School District of Philadelphia.
Source: Auto Dealers Association of Greater Philadelphia

[back to top]

Past Articles
       
      Quotable
      "Driving Away the Cold has united 175 new automobile dealers to give away more than 45,000 brand-new coats to local boys and girls, many of whom lack daily essentials such as a warm winter coat."

          -- Kevin Mazzucola, executive director of the Auto Dealers CARing for Kids Foundation in Philadelphia, Businesswire.com, Oct. 18


      Sponsored by

      NADA Foundation


      AutoConference LA
      NADA Videos

      NADA Chairman Calls on Dealers to Help Families Rebuild after Flood Disaster in Louisiana


      Dealership Families in Louisiana Still Need Help After Flooding


      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





      NADA Chairman Delivers Remarks to Automotive Press Association in Detroit


      NADA Testifies at Congressional Hearing on Fuel Economy Rules


      NADA100 Video: Don Wassel Works in Auto Retailing for 53 Years


      Introducing NADA Academy Plus

      NADA Webinars
      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
      Search Back Issues | Unsubscribe | Subscribe | Manage your subscription | email us
      NADA For more info, visit nada.org. Any opinions or statements contained herein do not necessarily reflect the views of NADA. Factual errors are the responsibility of the listed publication. This email may contain an advertisement of NADA products and services. Questions or comments concerning NADA Headlines content may be directed to publicaffairs@nada.org. To unsubscribe from future editions of NADA Headlines, click here or contact NADA, 8400 Westpark Drive, Tysons, VA 22102.