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November 23, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Judge Blocks Obama Rule Extending Overtime Pay to 4.2 Million U.S. Workers
Automakers Seek to Cut Inventories with Black Friday, Holiday Promotions
2017 Fuel Economy Guide Now Available
VW Reboots Americas strategy, Drops Diesel in U.S.
Auto Coalition Urges U.S. to Adapt Regulations for Autonomous Vehicles
49 Dealers Nominated for Time Magazine Award
Top Stories
Judge Blocks Obama Rule Extending Overtime Pay to 4.2 Million U.S. Workers

A federal judge on Tuesday blocked an Obama administration rule to extend mandatory overtime pay to more than 4 million salaried workers from taking effect, imperiling one of the outgoing president's signature achievements for boosting wages. U.S. District Judge Amos Mazzant, in Sherman, Texas, agreed with 21 states and a coalition of business groups, including the U.S. Chamber of Commerce, that the rule is unlawful and granted their motion for a nationwide injunction. The rule, issued by the Labor Department, was to take effect Dec. 1 and would have doubled to $47,500 the maximum salary a worker can earn and still be eligible for mandatory overtime pay. The new threshold would have been the first significant change in four decades.
Source: Reuters

Editor’s note: NADA is a plaintiff in the consolidated cases seeking to permanently halt the changes to the “white collar” overtime rule. Yesterday’s preliminary injunction means that, until further notice, the existing "white collar" salary thresholds remain in effect and that dealers should not make employee compensation adjustments based on the revised "white collar" rule's higher compensation thresholds. For further information, contact NADA Regulatory Affairs at regulatoryaffairs@nada.org.

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Automakers Seek to Cut Inventories with Black Friday, Holiday Promotions

Automakers in the United States are ramping up holiday sales promotions ahead of Black Friday, aiming to clear out bulging inventories of unsold cars and dispel investor doubts about consumer demand. Detroit automakers need a strong year-end sales push. They are sitting on hefty inventories of unsold sedans, compact cars and sports cars as consumers shift to pickup trucks and SUVs. "We are seeing a tougher pricing environment, higher levels of discounts," said Ford Chief Executive Officer Mark Fields. He predicted November and December sales would be about the same as a year ago, when the annualized sales pace averaged about 17.9 million vehicles a year.
Source: Reuters

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2017 Fuel Economy Guide Now Available

By law, dealers must provide the guide upon request

The U.S. Department of Energy and the Environmental Protection Agency have just released its 2017 Fuel Economy Guide. The guide provides detailed fuel economy numbers for MY 2017 light-duty vehicles, along with estimated annual fuel costs and other information for prospective purchasers. Dealers must display a copy of the guide and provide copies to customers upon request. Copies can be printed from the electronic version, order hard copies of the guide here or order copies by mail. If ordered, hard copies will be mailed, free of charge, this month. Click here for an EPA/DOE letter detailing how to make the guide available to customers.
Source: NADA Regulatory Affairs

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VW Reboots Americas strategy, Drops Diesel in U.S.

Volkswagen said on Tuesday it would drop diesel vehicles in the United States and refocus on sport utility and electric vehicles, as the automaker looks to reboot strategy for its core brand in the Americas in the wake of a damaging diesel emissions cheating scandal. The move, announced by VW brand chief Herbert Diess, breaks with earlier suggestions it could return to the once-popular technology after the emissions scandal fades from memory. The decision to drop diesel vehicles - which formerly made up a quarter of the brand's U.S. sales - is just one element of a strategic overhaul that Diess conceded could take a decade to close the gap with rivals in the United States.
Source: Reuters

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Auto Coalition Urges U.S. to Adapt Regulations for Autonomous Vehicles

Ford, Google, Volvo, Uber and Lyft lead the charge


David Strickland, a former NHTSA administrator and spokesman for the Self-Driving Coalition for Safer Streets, speaks at a NADA/J.D. Power conference in Los Angeles on Nov. 15, 2016. (Photo: NADA)


A group of automakers and tech firms advocating for autonomous vehicles has called on U.S. regulators to change federal auto safety standards that effectively prohibit the operation of a car without the presence of a driver. The Self-Driving Coalition for Safer Streets wants the National Highway Traffic Safety Administration to amend certain Federal Motor Vehicle Safety Standards that it says limit fully autonomous vehicles, the group said in a statement. It marks the first time that companies developing self-driving car technologies have explicitly called on regulators to issue new rules or amend current ones.
Source: Automotive News

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49 Dealers Nominated for Time Magazine Award

Forty-nine U.S. auto dealers have been nominated by automotive trade associations for the 2017 Time Dealer of the Year award. The nominees were announced in October by Time and Ally Financial, the sponsor. The program honors franchised new-vehicle dealers for exceptional performance in their dealerships and distinguished community service. The award is presented by Time in partnership with Ally Financial and in cooperation with the National Automobile Dealers Association. The 2017 winner will be announced Jan. 27 at the NADA convention in New Orleans.
Source: Automotive News

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Past Articles
       
      Quotable
      "Incentive levels are near record highs as a percentage of the selling price."

          -- Jeff Schuster, lead forecaster for LMC Automotive, an automotive consultancy, commenting on automaker efforts to ramp up holiday sales promotions ahead of Black Friday, Reuters, Nov. 23
       
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      NADA Foundation


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      NADA Webinars

      Nov. 30: Where is the Buy/Sell Market Headed? (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.

       
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