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Inside this issue
NADA to Hold Quarterly Briefing on Auto Sales and Economy on April 5
DOJ Finds CFPB Structure Unconstitutional, Sides With Trump
Used-Car Prices Put Auto Finance in a Pickle
Wholesale Prices Take Major Drop
BMW Fights Back Against Mercedes with Biggest Model Launch to Date
March 22 Webinar: Implementing a Courtesy Transportation Program
Top Stories
NADA to Hold Quarterly Briefing on Auto Sales and Economy on April 5


Scarpelli


Szakaly

NADA Chairman Mark Scarpelli and NADA Chief Economist Steven Szakaly will share their insights on the overall economy and where it is trending and provide any revisions to NADA’s outlook following the first quarter sales results for new cars and light trucks, as well as highlight the key sales indicators and drivers of the retail-auto industry. NADA has forecast sales of 17.1 million new light vehicles for 2017.

When: Wednesday, April 5, 2017
Call-in Time: 11 a.m. ET

Scarpelli is president of Raymond Chevrolet and Raymond Kia in Antioch, Ill., and co-owner of Ray Chevrolet and Ray Chrysler-Jeep-Dodge-Ram in Fox Lake, Ill.

A Q&A session with members of the media and industry will follow the briefing. Click here to register.
Source: NADA

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DOJ Finds CFPB Structure Unconstitutional, Sides With Trump

The Department of Justice is backing a proposal that would allow President Donald Trump to replace Consumer Financial Protection Bureau Director Richard Cordray, according to court documents filed Friday. The filing was a departure from what the DOJ supported during the waning days of President Barack Obama’s administration, and unusually pits two executive agencies against one another.
Source: Auto Finance News

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Used-Car Prices Put Auto Finance in a Pickle

Car lease volumes in the U.S. have risen rapidly over the past two years for Japan’s big three car makers. That could spell danger

The U.S. car-financing market is flashing worrying signals. And the big Japanese car makers will take the first hits. Car-lease volumes in the U.S. have risen rapidly over the past two years for Japan’s big three car makers.  Toyota, Honda and  Nissan have been among the most aggressive this cycle, with close to 30% of sales coming from lease transactions for all three, according to Jefferies. For Ford Credit, for instance, the rate is rising but still at 22%. The problem so far isn’t with customers defaulting on leases but with the recovery value the finance companies get when they sell the vehicles after the lease term.
Source: The Wall Street Journal

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Wholesale Prices Take Major Drop

In a reversal of what typically occurs in February, wholesale prices of used vehicles up to eight years old fell substantially in February, according to NADA Used Car Guide. Wholesale prices dropped 1.6 percent compared to January. The drop was counter to the 1 percent increase expected for the month and marked just the second time in the past 20 years prices fell in February.
Source: Used Car News

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BMW Fights Back Against Mercedes with Biggest Model Launch to Date

BMW Group plans the biggest rollout of new and revamped models in its history as the automaker fights back after losing the sales crown to Mercedes-Benz. Over the next two years, BMW will unveil 40 variants, including the new X2 compact SUV and full-sized X7 crossover.
Source: Reuters

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March 22 Webinar: Implementing a Courtesy Transportation Program

Angela Margolit with Bluebird Auto Rental Systems will highlight the benefits of implementing a courtesy transportation program (CTP) at the dealership. Find out the advantages of CTP tools such as reservation planners, computer-generated loaner agreements, interactive dashboards and more. Click here to register.

Date:  Wednesday, March 22, 2017
Time: 12 p.m. ET
Duration: 30 minutes
Source: NADA Dealership Operations

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Past Articles:
 
Quotable
"We are launching the biggest model offensive ever. We have started a transformation unlike anything our company has seen before."

    -- BMW CEO Harald Krueger, Reuters, March 21

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Automotive Forum -- April 11

 
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March 22: Implementing a Courtesy Transportation Program (12 p.m. ET)

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