View Web Version

SPONSORED BY
NADA.org
September 18, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
New NADA Video: Dealership Employee James Lloreda and Family Rebuild after Hurricane
Auto Dealers Make Their Voices Heard on Capitol Hill During NADA’s Washington Conference
Carfax Says Flooded Cars Could Flood Used-Car Market
New Dealer Confidence Index Edges Up
How Can Dealers Master Google? Google Explains
Top Stories
New NADA Video: Dealership Employee James Lloreda and Family Rebuild after Hurricane

Donate today to the NADA Foundation's Emergency Relief Fund

 

DICKINSON, Texas -- James Lloreda works at Ron Carter Autoland, outside of Dickinson, Texas. His home was flooded during Hurricane Harvey. He shares his harrowing ordeal in a new NADA Video. NADA is calling on dealers across the country to support dealership employees and their families who sustained personal property damage from hurricanes Harvey and Irma. One-hundred percent of funds contributed to the NADA Foundation's Emergency Relief Fund go to dealership employees.
Source: NADA Video

[back to top]

Auto Dealers Make Their Voices Heard on Capitol Hill During NADA’s Washington Conference

WASHINGTON – Auto dealers and automotive trade association executives from around the country traveled to Washington, D.C. last week to attend NADA’s annual Washington Conference and lobby their local members of Congress. Nearly 500 dealers and state association executives attended 300 meetings with Capitol Hill lawmakers over the two-day conference. The Washington Conference also featured prominent speakers, and a reception at the Smithsonian National Museum of American History to celebrate NADA’s 100th anniversary.


U.S. Secretary of Transportation Elaine Chao delivers remarks at NADA's Washington Conference last week.


Sen. Lindsey Graham (R-S.C.), a leader on high profile issues in the Senate, addressed dealers at Tuesday’s lunch session and discussed prospects for tax reform. At Wednesday’s breakfast session, Rep. Don Beyer (D-Va.), who is also a Volvo-Kia-Subaru-Land Rover-VW dealer, gave his perspectives on the budget issues before Congress and stressed the need for corporate tax reform and treating pass-through entities fairly.

Wednesday’s general session featured Rep. Sean Duffy (R-Wisc.). Congressman Duffy engaged the crowd detailing efforts by the House Financial Services Committee to uncover the Consumer Financial Protection Bureau’s abuse of power in its attempt to eliminate dealer discounts in the showroom and his thoughts on the historic 2016 election. U.S. Secretary of Transportation Elaine Chao then took the stage to give a well-received speech on the Department of Transportation’s self-driving car policies and its continuing commitment to safety.


U.S. Sen. Lindsey Graham (R-S.C.) discusses tax reform at NADA's Washington Conference on Sept. 12, 2017.

Fox News media personality Tucker Carlson closed out the general session to a packed crowd by giving his unique perspectives on living in Washington under the Trump administration. His speech was filled with his well-known wit and honest commentary.

First on the dealers’ agenda during Hill meetings was the preservation of state vehicle licensing and franchise laws in an upcoming Senate self-driving cars bill. As Congress considers legislation to advance self-driving vehicles, any legislation must ensure that the states’ traditional role of regulating motor vehicle commerce is preserved.


U.S. Rep. Don Beyer (D-Va.) discusses budget issues facing Congress and stressed the need for corporate tax reform.

With Congress focusing on tax reform, dealers took this opportunity to tell members of Congress their tax reform priorities. Dealers stressed that overall changes to the tax code should not negatively impact small business dealerships. Ideas dealers support for inclusion in a tax reform bill include eliminating the estate tax, treating pass-through entities fairly, and maintaining the LIFO inventory accounting method. Additionally, dealers outlined their opposition to eliminating or limiting interest deductibility and limiting advertising deductibility.

Auto dealers also showed their opposition to overbroad recall bills (S. 1634/H.R. 3449), which would prohibit the sale or wholesale of any used car under open recall by a dealer. These bills would hurt customers by lowering their trade-in value and diminish recall completion rates as customers turn to private sales rather than trading their used car in at a dealer.

Even with hurricanes Harvey and Irma, attendance for the Washington Conference remained solid. NADA’s leadership highlighted the NADA Foundation’s Emergency Relief Fund which continues to provide financial assistance to dealership employees in these disaster-affected areas.

As the Washington Conference concludes, dealers must make certain that their voice on dealer priority issues continues to be heard strongly on Capitol Hill.
Source: NADA Legislative Affairs

[back to top]

Carfax Says Flooded Cars Could Flood Used-Car Market

There are an estimated 325,000 previously flooded cars on U.S. roads, up 20% from 2016, and that number could grow by several hundred thousand in the wake of hurricanes Harvey and Irma, Carfax says. In a news release, the provider of vehicle-history information cites data from state motor-vehicles departments, insurance companies and other sources, and says the state with the most vehicles reported as damaged is Texas, with 51,000. Ranked second with 29,000 is Louisiana, which along with Texas was hit hardest by Harvey.
Source: WardsAuto

[back to top]

New Dealer Confidence Index Edges Up

Dealers say the auto market is strong and expect it to remain so in the near term, but their profitability is constrained by market conditions and competition, a Cox Automotive survey designed to gauge dealer sentiment found. The newly launched Cox Automotive Dealer Sentiment Index, released today, is the equivalent of a consumer confidence index, showing how U.S. dealers feel about the current automotive market and prospects for the next 90 days. It also identifies which factors are most significant in driving dealers' optimism or pessimism, as well as variations by region.
Source: Automotive News

[back to top]

How Can Dealers Master Google? Google Explains

Dealers and their ad agencies have been asking Google for more transparency and guidance as they work to keep pace with the tech giant's growing portfolio of marketing tools. Google heard them and is releasing what it calls its first dealer "playbook" to lay out the basics and best practices for its platforms.
Source: Automotive News

[back to top]

 
Quotable
"To see that franchises were positive and continue to be positive about the future is really reflective of a year that, from a volume perspective, is benefiting them."

    -- Jonathan Smoke, Cox Automotive's chief economist and the chief architect of its new dealer sentiment survey, Automotive News, Sept. 18

Sponsored by





MyDealership.org Videos




 
NADA Videos

Introducing NADA Academy Plus

Upcoming NADA Webinars
Sept. 20 -- Reducing Compliance Risks in F&I Department (12 pm)

Sept. 27 -- Top 7 Action Tips to Improve Dealership Sales (12 pm)

NADA members can view past webinars on-demand at no charge at NADA University Online. Members must create an NADA account before viewing.

Search Back Issues | Unsubscribe | Subscribe | Manage your subscription | email us
NADA For more info, visit nada.org. Any opinions or statements contained herein do not necessarily reflect the views of NADA. Factual errors are the responsibility of the listed publication. This email may contain an advertisement of NADA products and services. Questions or comments concerning NADA Headlines content may be directed to publicaffairs@nada.org. To unsubscribe from future editions of NADA Headlines, click here or contact NADA, 8400 Westpark Drive, Tysons, VA 22102.