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January 24, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Live Webcast Today: U.S. Credit Bureaus to Assess Concerns on Subprime Auto Lending Industry
Trump to Meet with Detroit 3 Automaker CEOs
WardsAuto: The Big Story: NADA Celebrates the Big 100
VW's $1.21 Billion Emissions Settlement with U.S. Dealers OK'd by Judge
2017 NAIAS Underscores Motor City’s Position as Global Mobility Epicenter
Top Stories
Live Webcast Today: U.S. Credit Bureaus to Assess Concerns on Subprime Auto Lending Industry

In response to mixed reports and conflicting analysis in the marketplace, experts representing all three U.S. credit bureaus - Equifax, Experian and Transunion - will provide insight on the health of the subprime auto lending industry using consumer credit data. The panelists include Amy Crews Cutts, chief economist, Equifax; Jason Laky, senior vice president, TransUnion; and Melinda Zabritski, senior director, Experian.

The panel session, which will be held at 11:30 a.m. CT on Tuesday, January 24 in New Orleans, is part of the American Financial Services Association's (AFSA) 21st annual Vehicle Financing Conference and Expo. To join the live webcast, click here. A recording will be available after the presentation. Click here for the media advisory.
Source: AFSA

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Trump to Meet with Detroit 3 Automaker CEOs

Moving quickly on a promise to spark job creation in the manufacturing sector, President Donald Trump will meet with the CEOs of the Detroit's Big 3 automakers on Tuesday morning at the White House. At his first full press briefing today, new White House Press Secretary Sean Spicer made note of Trump's plans to hold a breakfast meeting with GM CEO Mary Barra, Ford CEO Mark Fields and Fiat Chrysler CEO Sergio Marchionne. Representatives of each of the three confirmed they will attend.
Source: Detroit Free Press

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WardsAuto: The Big Story: NADA Celebrates the Big 100

In 1917, a small band of car dealers traveled to Washington to lobby against a tax proposal. The trip led to the formation of something big, the National Automobile Dealers Assn.

In 1895, there were only four registered automobiles in the U.S. Within five years, more than 4,000 cars were on roads. As the industry grew, its leaders faced the perplexing question of just how to sell these new machines. Many short-lived business models were attempted. One that stuck was what’s known today as the dealer-franchise system. Soon it became apparent to dealers that there was strength in numbers. That’s why the National Automobile Dealers Assn. was created. As NADA begins its second century, expect both change and stability, says its president, Peter Welch.
Source: WardsAuto

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VW's $1.21 Billion Emissions Settlement with U.S. Dealers OK'd by Judge

U.S. District Judge Charles Breyer on Monday granted final approval to Volkswagen AG's settlement worth up to $1.21 billion with 650 U.S. dealers over diesel emissions violations. VW's dealers will receive an average of $1.85 million each over 18 months under the settlement. Breyer said U.S. dealers would be paid over 18 months, ruling the settlement "fair, reasonable, and adequate."
Source: Reuters

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2017 NAIAS Underscores Motor City’s Position as Global Mobility Epicenter

The North American International Auto Show (NAIAS) today wrapped up two weeks of welcoming brand-defining products, emerging mobility technologies, top government officials – including then-Vice President Joe Biden – and leading auto and tech thinkers, in addition to greeting over 800,000 car enthusiasts who came to see the exciting technology-laden products driving the industry’s transformation. The show closed on Jan. 22 with a strong finish of 98,125 attendees, bringing total ticketed attendance for 2017 NAIAS to 806,554. “Detroit is the mobility epicenter of the world, and there’s no better example of this than what we’ve seen and experienced at NAIAS over the past 16 days,” said 2017 NAIAS Chairman Sam Slaughter.
Source: NAIAS

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Past Articles
       
      Quotable
      "It’s exciting to celebrate a 100th anniversary, but we’re not spending much time looking back. We’re looking at the next 100 years and beyond."

          -- NADA President and CEO Peter Welch, commenting on NADA's centennial, WardsAuto, Jan. 2017

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