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Inside this issue
NADA and J.D. Power to Host Economic Press Briefing on Nov. 15
Today's Webinar: Proposed IRS Regulations Seek to Limit Valuation Discounts
VW Targets $4.1 Billion in Cost Cuts, Report Says
Google, Automakers Object to California Rules for Self-Driving Cars
China's Geely Shows Global Ambitions, Launching New Compact SUV in Germany
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Top Stories
NADA and J.D. Power to Host Economic Press Briefing on Nov. 15

NADA to issue new-vehicle sales forecast for 2017

Date:   Tuesday, Nov. 15, 2016
Call-in Time:  11:30 a.m. ET / 8:30 a.m. PT
To Register:  www.nada.org/forecast2017  

Ahead of the NADA / J.D. Power AutoConference LA and press days at the Los Angeles Auto Show, Steven Szakaly, NADA chief economist, will issue a sales forecast for new cars and light trucks for 2017, and provide an economic outlook and identify the key economic factors that will shape auto retailing next year. Szakaly, who has predicted sales of 17.7 million new light vehicles for 2016, will also provide a year-in-review.

Jonathan Banks, vice president of vehicle analysis and analytics for J.D. Power, will discuss both new- and used-vehicle market trends and the key economic conditions affecting auto retailing, as well as how the used-vehicle market is performing in the final quarter of 2016, and how leasing and gasoline prices are affecting the industry.

A Q&A session with members of the media and industry will follow the briefing.

To register, visit www.nada.org/forecast2017. Registrants will receive a call-in number and conference ID.
Source: NADA

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Today's 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

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VW Targets $4.1 Billion in Cost Cuts, Report Says

Volkswagen Group is targeting about $4.1 billion of cost cuts at its core VW brand by 2021 as it wrestles with labor leaders over a turnaround plan, sources told Reuters. Talks between brand management and labor leaders over a so-called future pact are faltering with investment pledges and cost savings proving stumbling blocks, the sources said. VW declined comment. The works council did not return calls seeking comment. Labor leaders have told workers that they are not close to an agreement with management on cost cuts and strategy for the VW brand. Labor bosses want management to agree to fixed targets and quotas for products, output and investment as the two sides wrestle over a turnaround plan for the VW brand.
Source: Reuters

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Google, Automakers Object to California Rules for Self-Driving Cars

Alphabet Inc's Google unit and automakers objected on Wednesday to California proposals to set new, mandatory rules for testing self-driving cars in the state, which industry officials said could hobble their efforts in the home to much of self-driving vehicle testing and development. Automakers and Google raised a litany of concerns about California's proposal at a hearing in Sacramento on Wednesday. They expressed opposition to the state proposal to require compliance with guidelines that federal regulators issued last month, but made voluntary. The state's approach "could greatly delay the benefits that self-driving vehicles can bring to safety and mobility for individuals," said David Strickland, who heads the Self-Driving Coalition for Safer Streets that includes Google, Ford, Lyft, Uber Technologies Inc. and Volvo Car Group.
Source: Reuters

Editor's note: David Strickland is among several speakers and panelists slated for AutoConference LA, hosted by NADA and J.D. Power, on Tuesday, Nov. 15, 2016. The half-day conference will be held ahead of press days at the Los Angeles Auto Show. Click here for the full agenda and to register.


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China's Geely Shows Global Ambitions, Launching New Compact SUV in Germany

Chinese automaker Geely, the owner of Volvo cars, will unveil the first model of its new Lynk & Co brand in Germany on Thursday, a compact SUV aimed at taking on the likes of BMW and Mercedes-Benz across the world. The Lynk, made in China, will go on sale at home in 2017, followed by Europe and the United States in 2018, and marks one of the first attempts by a Chinese carmaker to create a global brand that makes use European design and technology know-how.
Source: Reuters

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Follow NADA on Instagram



To celebrate its 100th anniversary, NADA is now sharing a series of historic photos on Instagram. Founded in 1917, NADA will kick off yearlong events commemorating its 100-year anniversary beginning with NADA 100 Carnival at the 2017 NADA Convention and Expo in New Orleans. Follow at www.instagram.com/nada.
Source: NADA

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