NADA Headlines - 10/12/2017 (Plain Text Version)

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NADA Chair Describes How Stair-Step Incentives Kills Trust in Dealers, Brands

DETROIT -- It’s probably been a topic mentioned during sales staff meetings and around the coffee pot at franchised dealerships — stair-step programs sometimes leveraged by automakers to incentivize stores to get new metal rolled over the curb. Current National Automobile Dealers Association chairman Mark Scarpelli took on the subject this week within a test drive of the three domestic OEMs. Scarpelli urged all automakers to consider how stair-step incentive programs are damaging their brands and alerted manufacturers about the unintended consequences of such programs that erode consumer trust and lead to a lack of loyalty to — and desire for — their brands over time.
Source: Auto Remarketing

GM 'Well Positioned' for Future in Autonomous Cars, Ride-Hailing: UBS

General Motors is "well positioned" as a future mobility leader thanks to its extensive autonomous vehicle research and production, UBS research said. UBS reiterated its buy rating on the company's shares and raised its price target, citing GM's leadership in developing automotive technology through its AV unit as well as opportunities in the ride-hailing business.
Source: CNBC
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IRS Warns Tax Pros of New Phishing Scam

WASHINGTON — The IRS on Monday warned all e-Services users to beware of a new phishing scam that tries to trick tax professionals into “signing” a new e-Services user agreement. The phishing scam seeks to steal passwords and data.

The scam email claims to be from “e-Services Registration” and uses “Important Update about Your e-Services Account” in the subject line. It states, in part, “We are rolling out a new user agreement and all registered users must accept its revised terms to have access to e-Services and its products.” It asks the individual to review and accept the agreement but takes them to a fake site instead.

All tax professionals should be aware that as e-Services begins its move later this month to Secure Access authentication and its two-factor protections, cybercriminals likely will make last-ditch efforts to steal passwords and data prior to the transition. As the IRS has warned over the past few years, these sophisticated schemes are adaptive in nature and everyone should be cautious before clicking on a link or entering sensitive personal information.
Source: IRS
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J.D. Power's O'Neill to Retire in March

J.D. Power chief executive officer and president Finbarr O’Neill will retire in March, the company announced Wednesday. In a news release, the company said O’Neill will stay on during the transition process when the new CEO takes the helm. Following that transition, he will be a senior adviser for J.D. Power. O’Neill has been with J.D. Power for a decade, following posts as chief executive of Hyundai Motor America, Mitsubishi North America and Reynolds & Reynolds.

The London-based XIO private equity firm purchased J.D. Power in September 2016. The company was previously owned by S&P Global (formerly McGraw Hill Financial), and O’Neill led the company through the transition. During his tenure, J.D. Power also purchased NADA Used Car Guide, which is now known as J.D. Power Valuation Services.
Source: Auto Remarketing
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NADA Show 2018: Registration Now Open

 

Don't miss this opportunity to build on the proud history of America's auto dealers

Online registration and hotel selection for NADA Show 2018 in Las Vegas is now open. NADA member dealers and their managers who register by Nov. 17 will receive an early-bird discount of $100 from the onsite registration rate.

The NADA Show runs from Thursday, March 22, to Sunday, March 25. Keynote speakers are Mark Scarpelli, 2017 NADA chairman, and Nick Saban, head football coach at the University of Alabama (Friday’s general session); Wes Lutz, 2018 chairman-elect, and John Krafcik, CEO of Waymo Inc. (Saturday’s general session); and Robert O’Neill, former SEAL Team Six Leader (Sunday’s inspirational session).

The show also includes educational programs, dealer-franchise meetings, an expo and numerous networking opportunities.

For more information and to register, visit www.nadashow.org.
Source: NADA Public Affairs
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