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May 16, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Ford Aims to Cut Global Workforce by Roughly 10%
GM Continues Gains in Supplier Study, Nissan Slips
William Berman Resigns as President, Chief Operating Officer of AutoNation
Commentary: Automakers Must Scrap Metrics for Dealers
Trump Road Plan Would Rely Largely on Private Funding
Big Chipmakers Go All In on Robot Cars
Retirement Accumulation Insurance An Employee Benefit Like No Other
Top Stories
Ford Aims to Cut Global Workforce by Roughly 10%

Job cuts expected to be outlined as early as this week and largely target salaried employees

Ford Motor  Co. aims to cut about 10% of its global workforce amid Chief Executive Officer Mark Fields’s drive to boost profits and the auto maker’s sliding stock price, according to people briefed on the plan. The move comes as Ford targets $3 billion in cost reductions for 2017, a plan intended to improve profitability in 2018 even as U.S. auto sales plateau.
Source: The Wall Street Journal (Subscription required)

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GM Continues Gains in Supplier Study, Nissan Slips

General Motors Co. has improved its relationships with key suppliers for the second straight year, and is moving up the rankings to its highest position ever in an influential study that grades automaker relations with key suppliers. Just two years ago, GM’s supplier relations were ranked the worst of six automakers in the annual North American Automotive OEM (Original Equipment Manufacturer)-Supplier Working Relations Index study.
Source: The Detroit News

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William Berman Resigns as President, Chief Operating Officer of AutoNation

William Berman, who was just named president of AutoNation in February, has resigned from the position, the nation’s largest automotive retailer announced Monday. No reason was given for the resignation of Berman, 51, a 20-year AutoNation employee who also has been chief operating officer since 2015. Prior to that, Berman led the company’s west coast region with more than 75 stores and over $6 billion in revenue.
Source: Sun-Sentinel

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Commentary: Automakers Must Scrap Metrics for Dealers
By Eric Chase

Auto manufacturers routinely assess dealer sales performance relying on metrics with no established or demonstrated statistical reliability or accuracy to gauge the minimum number of new cars dealers should expect to retail. Factories deploy calculations ("sales expectations" vs. actual sales) to impact dealers in a variety of ways. Automakers require dealers to score "average or above" to be considered minimally satisfactory. Thus, as many as half a brand's dealers will be assessed as "underperforming," in breach of the dealer agreement at any — or every — particular moment in time. Click here for the full commentary.

Eric Chase is a partner in the law firm Bressler, Amery & Ross in Florham Park, N.J.

Source: Automotive News

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Trump Road Plan Would Rely Largely on Private Funding

President Donald Trump administration’s proposal for a $1 trillion bill to improve the quality of the nation’s roads and highways will be paid for mostly by private funding that will be stimulated by $200 billion in federal spending, Transportation Secretary Elaine Chao announced Monday.
Source: The Detroit News

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Big Chipmakers Go All In on Robot Cars

Three major computer-chip manufacturers are moving into new territory by investing heavily to become the indispensable drivers of the driverless-car game. Intel is best known for cranking up the speed of laptop and desktop computers. Nvidia supercharged graphics for video games. Qualcomm helped make smartphones truly smart. Today, all are vying to become major players as the auto and tech industries work to bring autonomous vehicles to the masses.
Source: The Detroit News

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Retirement Accumulation Insurance An Employee Benefit Like No Other

Qualified retirement plans are based on years of contributions. Should an employee’s death occur prematurely, the retirement benefit could be far less than anticipated. Retirement Accumulation Insurance (RAI)* adds protection that your employees and their loved ones need should the unexpected happen.

Whether you have an NADA Retirement Plan from Empower Retirement or a plan through another provider, you have exclusive access as an NADA Member to this one-of-a-kind program that works in tandem with your qualified retirement plan. This group term life program offers competitive group life insurance coverage that enhances retirement benefits for greater financial security. For more information on cost, features, eligibility, renewability, limitations and exclusions, click here or contact Deborah Stevens at dstevens@nada.org to explore this unique employee benefit.

*Underwritten by New York Life Insurance Company, New York, N.Y. 10010 on Policy Form GMR -- Deborah Stevens | AR 17729054, CA Insurance License #466782025
Source: NADA

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Quotable
"Ford like other carmakers is under pressure to stem increasing investments in future technologies, so they need to make adjustments elsewhere."

    -- Sascha Gommel, a Frankfurt-based auto analyst at Commerzbank, Bloomberg, May 15

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