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April 11, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
NADA / J.D. Power to Live Stream 2017 Automotive Forum on April 11
Trump to Meet U.S. Business Leaders on Infrastructure, Tax Reform
Ford Executive Predicts US SUV Boom Will Continue
Commentary: CFPB Depicts the Worst of Big Government
Glitz Meets Muscle at NYC Show Preview
Top Stories
NADA / J.D. Power to Live Stream 2017 Automotive Forum on April 11

NEW YORK -- The attention of global automotive industry shifts to New York with week long events starting with the 2017 Automotive Forum.
 
The full-day Automotive Forum, hosted by NADA, J.D. Power and the New York International Auto Show, will be held at the Grand Hyatt New York on Tuesday, April 11.
 
A select portion of the forum will be live streamed. Here's the schedule:

  • 11 a.m. -- Mike Jackson, chairman and CEO of AutoNation
  • 1:20 p.m. -- Mark Scarpelli, NADA chairman
  • 2:20 p.m. -- Bob Carter, senior vice president of automotive operations for Toyota Motor Sales
  • 3:15 p.m. -- “Regulation in the Trump Era” with Mitch Bainwol, president and CEO of the Alliance of Automobile Manufacturers; John Bozzella, president and CEO of Global Automakers; Peter Welch, NADA president and CEO; followed by a Q&A with Mike Allen, co-founder and executive editor of AXIOS 
  • 3:55 p.m. -- Joe Hinrichs, executive vice president and president of The Americas for Ford Motor Company will sit down for a fireside chat with Jason Stein, publisher of Automotive News

To view the live stream, click here.
Source: NADA

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Trump to Meet U.S. Business Leaders on Infrastructure, Tax Reform

U.S. President Donald Trump will meet with about 20 chief executives on Tuesday as he works to gain support for a $1 trillion infrastructure program, tax reform and other administration priorities, said White House spokesman Sean Spicer. Trump will meet with the heads of General Motors Co., International Business Machines Corp. and Wal-Mart Stores Inc., a government official briefed on the matter said.
Source: Reuters

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Ford Executive Predicts US SUV Boom Will Continue

A top Ford Motor executive said on Monday industry-wide sales of sport utility vehicles will continue to rise in the United States as the country's second-largest U.S. automaker gets ready to unveil a refreshed 2018 Ford Explorer SUV. The market share of SUVs has increased to nearly 40 percent from 32.6 percent of total U.S. vehicle sales in 2016. Mark LaNeve, Ford's vice president of U.S. marketing, sales and service told reporters at an event on Monday ahead of this week's New York International Auto Show that the company expects that figure to rise to 45 percent of industry sales within five to seven years.
Source: Reuters

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Commentary: CFPB Depicts the Worst of Big Government
By U.S. Rep. Ann Wagner

For the first time in eight years, we have a real opportunity to scale back the “Washington knows best” mindset that continually targets your pocketbook and dictates your future. We must hold the unelected bureaucrats in Washington accountable, while restoring real decision-making power back to you, the people. I am honored that I am able to address your concerns more directly this Congress, as I now serve as the chairman of the Financial Services Oversight and Investigations Subcommittee. The very first hearing I convened focused on the Consumer Financial Protection Bureau (CFPB), an unconstitutional behemoth created under the Obama Administration that side-steps accountability to Congress and the president. The CFPB is a perfect example of how a lack of proper checks and balances lends to a downward spiral of expanded power and overreach, all at your expense.

Unelected bureaucrats at the CFPB have spent years removing choices and making access to financial products more difficult for you, all under the well-messaged guise of consumer protection. Since the CFPB’s creation, we have seen egregious regulations put in place that make it harder for you to qualify for a mortgage, obtain an auto loan and access other forms of credit that families depend on every day. Additionally, the CFPB has continually shunned due process in bringing enforcement cases against businesses. And if the unconstitutional and unaccountable shortcomings weren’t bad enough, racial, gender and age discrimination run rampant within the bureau, as well as the more than $200 million wasted on the CFPB’s lavish headquarters at taxpayer expense.

It is time to hold CFPB Director Richard Cordray responsible and restructure the bureau within the framework of our Constitution. Under the Financial CHOICE Act, which stands for “Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs,” we will do just that while ending the practice of regulatory agencies writing their own budgets without Congressional or Executive oversight. The CHOICE Act does not eliminate the CFPB, but instead empowers it to be more accountable and focused on actually protecting consumers, rather than intimidating small businesses or making financial decisions for families. This is an historic piece of legislation that reflects the spirit of our Constitution and will empower you on Main Street, not executives on Wall Street.

Ann Wagner is U.S. Representative for the 2nd District of Missouri.

Source: St. Louis Business Journal

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Glitz Meets Muscle at NYC Show Preview

The curtain rises on the New York Auto Show this week with the usual Broadway scene-stealers: Finely tuned supercars with deep baritone pipes, gorgeous luxury sedans, land yachts as tall as skyscrapers. But like a Shakespeare play, there will be plenty of meat for the masses at the Jacob J. Javitz Convention Center including a dragstrip-ready Dodge Demon and a track-ready Jeep Grand Cherokee.
Source: The Detroit News

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Past Articles:
 
Quotable
"If the next few months reveals a further decline in auto sales, we need to pay attention to that because it will feed back to the economy directly. The bigger risk is that it's a sign of broad-based weakness of the consumer. At this point, we can't make that case."

    -- Michelle Meyer, head of U.S. economics at Bank of America Merrill Lynch, commenting on a potential slowdown in auto lending, CNBC, April 10 

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