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May 4, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
N.A. Q2 Output Tally Up; Cars Benefit Most
GOP Moves Closer to Long-Sought Goal of Dodd-Frank Overhaul
Mexico, Canada Seek U.S. Soft Spots to Bolster NAFTA Defense
Certified Used Vehicle Sales Continue Moderate Growth
Colorado Dealers Buck National Car-Sales Slump
Millennials Desire Luxury More Than Previous Generations
Top Stories
N.A. Q2 Output Tally Up; Cars Benefit Most

After missing their April slate by a narrow margin, automakers have increased production in May and June enough to boost the second-quarter plan by 21,000 units, keeping the program on track toward a 2.3% gain compared with the same period a year ago.

The recently revised Q2 plan calls for the assembly of 4,799,800 cars and trucks in April-June, up from the 4,778,800 scheduled a month ago and the 4,690,000 built in like-2016. Although trucks still make up 65% of output for the quarter, an increase of 18,700 cars accounts for the majority of the additional vehicles booked for production.

Overall, automakers have bumped up May and June plans by 21,600 and 11,700 units, respectively, for a total of 33,300 vehicles.
Source: WardsAuto

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GOP Moves Closer to Long-Sought Goal of Dodd-Frank Overhaul

A House panel on Thursday is expected to approve a GOP-pushed bill that would repeal about 40 provisions of the Dodd-Frank Act. Banks could qualify for much of the regulatory relief in the bill so long as they meet a strict basic requirement for building capital to cover unexpected big losses.

While the measure is expected to easily win approval at the committee level and in the full House, it faces a difficult climb in the Senate where it would need 60 votes to become reality. That means the GOP will need several Democrats to join their effort. Leaders of the Senate panel with jurisdiction over a Dodd-Frank overhaul have said they would like to work together to find areas of common agreement to enhance economic growth.
Source: AP

Editors Note: The Financial CHOICE Act, H.R. 10, includes nearly identical language to the NADA-backed H.R. 1737 which passed the House overwhelmingly last Congress. This provision in H.R. 10 would rescind the CFPB's flawed 2013 auto finance guidance and require any new guidance to go through an open and transparent process. NADA sent a letter to House Financial Services Chairman Jeb Hensarling (R-Tx.) in support of the provisions of the bill that reform CFPB (link here). A vote on the House floor is expected later this month.     

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Mexico, Canada Seek U.S. Soft Spots to Bolster NAFTA Defense

From launching a data-mining drive aiming to find supply-chain pressure points to sending officials to mobilize allies in key U.S. states, Mexico and Canada are bolstering their defenses of a regional trade pact President Donald Trump vows to rewrite.

Mexico, for example, has picked out the governors of Texas, Arizona and Indiana as potential allies. Decision makers in Michigan, North Carolina, Minnesota, Illinois, Tennessee, Wisconsin, Ohio, Florida, Pennsylvania, Nebraska, California and New Mexico are also on Mexico's priority list, according to people involved in talks.

Canada has drawn up a list of 11 U.S. states, largely overlapping with Mexico's targets, that stand to lose the most if the trade pact enacted in 1994 unravels.
Source: Reuters

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Certified Used Vehicle Sales Continue Moderate Growth

Certified pre-owned vehicle sales were up modestly in April, as the first third of the year wraps up slightly ahead of the 2016 pace.

According to Autodata Corp., there were 234,493 CPO sales last month, beating year-ago figures by 0.7 percent. That pushes the year-to-date sum to 881,881 sales, a 0.3-percent increase. This follows a particularly strong March, a month where Autodata determined the industry turned the second-highest amount of CPO units ever and four automakers posted new all-time highs for monthly CPO sales.
Source: Auto Remarketing

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Colorado Dealers Buck National Car-Sales Slump

Colorado's auto dealers appear to be having a better start to their year than their counterparts across the country. Despite new numbers showing a national slump in new-vehicle sales last month -- including a 7.2 percent year-over-year decline for Ford models and a 5.8 percent drop for General Motors -- the latest data on Colorado dealerships points to a modest gain from a year ago.

A monthly report from Auto Outlook Inc., compiled for the Colorado Automobile Dealers Association, shows a roughly 4 percent year-over-year gain in car and light-truck registrations in the state, both in March and for the first three months of 2017.

“While U.S. car industry sales for March were weaker than expected, Colorado’s consumers registered more new cars and trucks," said Tim Jackson, president of CADA, a trade group for the state's dealerships. "Demand is still strong as Coloradans are taking advantage of manufacturers’ and dealers’ incentives, relatively low fuel prices, affordable interest rates and readily available credit for most buyers.”
Source: Denver Business Journal

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Millennials Desire Luxury More Than Previous Generations

As millennials continue to turn from the way previous generations have shopped in this digital age, their growing desire for luxury vehicles has surpassed older generations as well, according to the Harris Poll's 29th annual EquiTrend Study.

“Millennials may not be as indifferent to American car culture as is often suggested — their aspirations for luxury are driving the U.S. automotive brand landscape,” The Harris Poll said.

Seven of the top 10 millennial car brands are luxury brands, compared to five each for both Generation X and baby boomers, the poll shows. This year, Mercedes-Benz reclaimed the Luxury Automotive Brand of the Year honor from Lexus.
Source: Auto Remarketing

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Quotable
“Demand is still strong as Coloradans are taking advantage of manufacturers’ and dealers’ incentives, relatively low fuel prices, affordable interest rates and readily available credit for most buyers.” 

    -- Tim Jackson, Colorado Automobile Dealers Association, President, Denver Business Journal, May 3
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