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August 14, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Bob Mallon's $13 Million Legacy
Chinese Automaker Reportedly Bids for Fiat Chrysler
Auto Industry Fights for Influence on NAFTA Talks
Editorial: Minority Dealers Are a Must
F&I for Generation Y: Be Casual, Creative
Lithia Adds 5 Stores, Looks to Buy More
Two New Driven Guides on the Used-Vehicle Market are Online
Top Stories
Bob Mallon's $13 Million Legacy

Architect of NADA charitable foundation that supported education, health care and emergency relief

Bob Mallon, founder of the National Automobile Dealers Charitable Foundation, always showed up at meetings wearing a coat and tie, ready to do business and share great conversation. The former National Automobile Dealers Association president and Ford dealer from Tacoma, Wash., died Aug. 3 at age 83. Friends and colleagues remembered Mallon as an accomplished speaker — entertaining and eloquent. Whether he was addressing a boardroom or a restaurant table full of friends, he knew how to capture an audience. They said he felt like a longtime friend from the moment you met him.
Source: Automotive News

Memorial contributions can be made online to the NADA Foundation’s Ambassadors Program in Honor of Robert P. Mallon.

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Chinese Automaker Reportedly Bids for Fiat Chrysler

A Chinese automaker reportedly made a quiet bid to acquire Fiat Chrysler Automobiles, raising the distinct possibility that the traditional member of the Detroit Three that was bailed out by U.S. taxpayers could wind up with Chinese ownership.
Source: USA Today

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Auto Industry Fights for Influence on NAFTA Talks

Automakers are embracing the Trump administration's decision to renegotiate the North American Free Trade Agreement as a rare opportunity to push for improvements to the trade deal that would benefit the industry but are concerned about some administration goals that could harm profits and jobs. Leave "rules of origin" alone: The auto industry doesn't want the new NAFTA to include any changes to the "rules of origin" provision. What are rules of origin? Currently, to qualify for tariff-free exports from one country into another, at least 62.5% of the content of the car or truck must come from the country where it is assembled.
Source: Detroit Free Press

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Editorial: Minority Dealers Are a Must

Hyundai Motor America's success in raising the number of its minority-owned dealerships — to 78 by the end of 2016 from 48 in 2011 — shows what is possible with a strong commitment from top management. More automakers' top brass should do likewise: Minority-owned dealerships sell more new vehicles to consumers of the same ethnicity than nonminority stores.
Source: Automotive News

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F&I for Generation Y: Be Casual, Creative

Keep the pitch straightforward and authentic, dealers say

A casual, targeted approach is an important tool for all finance managers when selling to Gen Y, experts say. That's especially true given their growing impact on the auto market. Millennials bought 4.1 million new vehicles in 2016, representing 29 percent of U.S. new-vehicle retail sales, data from J.D. Power's Power Information Network show. And they will likely account for about 40 percent of the market by 2020. "You remember the dinosaur and what happened to them?" said Mark Scarpelli, 2017 chairman of the National Automobile Dealers Association. "You either need to adapt or coexist, or you are extinct in the car business. When it comes to selling and adapting to Generation Y and the upcoming [Gen Z], I have seen many dealers use very creative means they would never have tried even two years ago."
Source: Automotive News

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Lithia Adds 5 Stores, Looks to Buy More

Lithia Motors Inc.'s purchase of five stores of Downtown Los Angeles Auto Group caps, but doesn't end, a string of major acquisitions by the group, Lithia CEO Bryan DeBoer told Automotive News. "We still have about $400 million of available capital, which can buy us anywhere from $2 billion to $4 billion in revenue based on how we purchase things," DeBoer said. "In another six months, we'll have another $100 million."
Source: Automotive News

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Two New Driven Guides on the Used-Vehicle Market are Online

NADA has published two new Driven guides to help dealerships navigate the changing used-car market:

A Dealer Guide to Marketing Used-Vehicle Certification
(SL30) discusses the value of Certified Pre-Owned (CPO) programs, the various types of programs, and how CPO can fit into the used-vehicle department. CPO sales are growing; the guide presents best practices for initiating and marketing a CPO program.

A Dealer Guide to Used-Vehicle Inventory
(SL12) provides formulas dealerships can use to improve used-vehicle departments' performance, profits and competitiveness.
Source: NADA Dealership Operations

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Quotable
"NAFTA provides the U.S. with a source for competitively priced auto products in close proximity to final assembly. These products are not always cost competitive to manufacture or assemble solely in the United States."

    -- American Automotive Policy Council argued in its letter to the U.S. Trade Representative concerning the renegotiation of NAFTA, Detroit Free Press, August 13

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