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October 20, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Mexican Auto Lobby Rejects U.S. NAFTA Proposal on Rules of Origin
NADA Launches New Multi-Franchise 20 Group
GM to Settle State Ignition Claims for $120 Million
ICYMI -- Richard Cordray: Poster Child For Bureaucrats Behaving Badly
Consumer Reports: Buick Makes Top 10 Most Reliable, Ford and Fiat Chrysler Improve
Chief Economist Szakaly Will Leave NADA for Health System
Top Stories
Mexican Auto Lobby Rejects U.S. NAFTA Proposal on Rules of Origin

The Mexican Auto Industry Association (AMIA) on Thursday rejected U.S. proposals to increase North American content for autos produced in the region and require, under a new NAFTA deal, that half of all content come from the United States. AMIA President Eduardo Solis said the rules of origin enshrined in the current North American Free Trade Agreement (NAFTA) have been key in creating value and integrating the auto industries of Canada, the United States and Mexico.
Source: Reuters

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NADA Launches New Multi-Franchise 20 Group

Dealer principals and C-level managers (CEO, CFO and COO, etc.) at multi-franchise dealerships with three to 15 stores are invited to participate in the new Multi-Franchise NADA 20 Group in Dallas on Dec. 18-19, 2017.

An analysis of NADA’s industry-leading financial composites will engage members in peer-to-peer discussions on emerging trends and opportunities. Together, the group of non-competing peers will identify best practices and new ideas to improve business performance and profitability. The meetings are designed to maximize ROI by focusing on specific areas within the dealership.

Charter members will play a key role in building the composition and culture of the new NADA 20 Group.

For more details on how to sign up, click here to complete and submit the form or call 800.557.6232. For more information, visit nada.org/20group.
Source: NADA

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GM to Settle State Ignition Claims for $120 Million

General Motors Co on Thursday agreed to pay $120 million to resolve claims from 49 U.S. states and the District of Columbia over faulty ignition switches, state attorneys general said. The largest U.S. automaker had previously paid about $2.5 billion in penalties and settlements over faulty ignition switches that could cause engines to stall and prevent airbags from deploying in crashes.
Source: Reuters

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ICYMI -- Richard Cordray: Poster Child For Bureaucrats Behaving Badly
By Arkansas Attorney General Leslie Rutledge

[Richard Cordray, director of the Consumer Financial Protection Bureau,] and his lawyers have been chastised by multiple federal judges for their “blatant disregard” for the rule of law. This is precisely why a three-judge panel ruled that the CFPB’s structure is unconstitutional. That ruling would give most in Mr. Cordray’s position reason to recalibrate.

Instead of exercising caution, Mr. Cordray has become the poster child for bureaucrats behaving badly. He has irreversibly tainted what was designed to be a fiercely independent regulatory agency, exempt from Congressional budget influences and civil service pay scales. This independence was supposed to be a strength. Instead, it allowed Mr. Cordray to set his own set of rules, accountable to no one.
Source: The Daily Caller

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Consumer Reports: Buick Makes Top 10 Most Reliable, Ford and Fiat Chrysler Improve

When it comes to reliability, Ford and Fiat Chrysler have improved their performance ratings among drivers, while General Motors has slipped. Still, GM's Buick is the only U.S. brand to make the latest Top 10 list of most reliable brands. The new Chevrolet Bolt electric car was GM's most reliable model, scoring "above average" in Consumer Reports magazine's influential reliability survey.
Source: Detroit Free Press

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Chief Economist Szakaly Will Leave NADA for Health System

The National Automobile Dealers Association's chief economist is leaving the organization to run data analytics and consumer insights for one of the largest health systems in the country. Steven Szakaly's last day at NADA will be Nov. 2. A spokesman for NADA said the association has not yet named a replacement. Szakaly, 39, joined NADA in October 2013. He will join Lehigh Valley Health Network at the group's headquarters in Allentown, Pa.
Source: Automotive News

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Quotable
"We expect to see employment at new-car dealerships reach an all-time high at the end of 2017."

    -- Patrick Manzi, NADA senior economist, commenting on the findings in NADA Data 2017: Midyear Report, Automotive News, Oct. 19

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