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March 16, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
NADA Praises Trump Administration for Restarting Midterm Review of Fuel-Economy Standards
EPA Will Reopen Review of 2025 Emissions Rules
How Fed Hike Will Affect Mortgages, Car Loans, Credit Cards
Vehicle-Ownership Rate Per Household on the Rise
Dealerships That Participate in Workforce Study by April 28 Will Receive Two Complimentary Reports
Top Stories
NADA Praises Trump Administration for Restarting Midterm Review of Fuel-Economy Standards

NADA President and CEO Peter Welch on Wednesday issued the following statement in response to the Trump Administration's decision to restart the midterm review of federal fuel-economy standards, which was circumvented by the Obama Administration's “final determination” of MY 2022-2025 standards in January:

“NADA applauds the Trump Administration for reaffirming our shared commitment to a transparent, fair and data-driven midterm review of fuel-economy standards. Maintaining vehicle affordability is critical to actually building on the progress the industry has already made on increasing fuel economy and lowering vehicle emissions. As dealers, our top priority will always be ensuring that working men and women have the ability to purchase the fuel-efficient cars and trucks they need at prices they can afford.”
Source: NADA

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EPA Will Reopen Review of 2025 Emissions Rules

President Donald Trump on Wednesday said his administration will reopen a review of Obama-era auto emissions mandates, welcome news for automakers that argue the strict standards are costly and out-of-touch with market realities. The reopening of the midterm review does not mean the standards will be weakened, but it does give automakers the opportunity to push for relief by lobbying new EPA Administrator Scott Pruitt, who has downplayed the effect humans have on climate.
Source: Automotive News

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How Fed Hike Will Affect Mortgages, Car Loans, Credit Cards

Are mortgage rates going up? How about car loans? Credit cards? With the Federal Reserve having raised its benchmark interest rate Wednesday and signaled the likelihood of additional rate hikes later this year, consumers and businesses will feel it — if not immediately, then over time. “We are in a rising interest rate environment,” noted Nariman Behravesh, chief economist at IHS Markit.
Source: The Washington Post

Editor's note: Nariman Behravesh is among several speakers and panelists slated for the 2017 Automotive Forum -- hosted by NADA, J.D. Power and the New York International Auto Show -- at the Grand Hyatt New York on April 11. Click here for the full agenda and to register. Seating is limited.

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Vehicle-Ownership Rate Per Household on the Rise

Perhaps the next “up” to come through your dealer website or walk into the showroom might want to own more than one vehicle. While the rate of ownership of cars and light trucks has steadily declined since its peak a decade ago, it is starting to climb, according to a University of Michigan researcher.
Source: Auto Remarketing

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Dealerships That Participate in Workforce Study by April 28 Will Receive Two Complimentary Reports

NADA and ATD members that participate in the Dealership Workforce Study by completing a questionnaire and submitting their payroll records will receive two complimentary reports.

Automotive Retail: National & Regional Trends in Compensation, Benefits & Retention is the industry's top resource for helping dealers meet their No. 1 challenge of attracting and retaining productive employees. It contains clear analysis of the light-vehicle and commercial-truck industry. The report includes national and regional data for 60 car and truck dealership positions. In addition to data on pay, benefits and turnover, the report details the impact of work schedules, gender gap and generational challenges facing dealerships today. Participants will also receive a complimentary individualized comparative report for each participating dealership.

To enroll in the 2017 Dealership Workforce Study, which is open through April 28, visit www.nadaworkforcestudy.com and enter your Member (Company) ID. For questions, send an email to WorkforceStudy@nada.org or call 800.557.6232.
Source: NADA Dealership Operations

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Past Articles:
 
Quotable
"Maintaining vehicle affordability is critical to actually building on the progress the industry has already made on increasing fuel economy and lowering vehicle emissions. As dealers, our top priority will always be ensuring that working men and women have the ability to purchase the fuel-efficient cars and trucks they need at prices they can afford."

    -- NADA President and CEO Peter Welch commenting on President Donald Trump's announcement to reopen the midterm review for fuel-economy standards, Automotive News, March 15

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Automotive Forum -- April 11

 
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