NADA Headlines - 12/19/2017 (Plain Text Version)
By Mark Scarpelli, December 2017
The nation's auto dealers should have a happy holiday season thanks to NADA's and my fellow dealers' efforts to ensure that our priorities were accounted for in comprehensive tax reform legislation. On Dec. 2, the Senate passed the "Tax Cuts and Jobs Act" (H.R. 1), which included a NADA-supported amendment to preserve 100-percent deductibility of floor plan loan interest. Thanks to a concerted effort by dealers all over the country, this critical provision was included in the legislation.
Editor’s note: Congress will start voting today on the final version of the “Tax Cuts and Jobs Act” (H.R. 1), with the House going first this afternoon and the Senate to vote either later today or tomorrow. Click here for the House and Senate conference committee’s policy highlights in H.R. 1.
Auto makers are stepping up efforts to recall potentially lethal air bags, but customers are slow to respond
Honda, historically the largest purchaser of air bags made by Takata Corp., is among the car companies trying to persuade millions of Americans to replace the potentially lethal components. The biggest automotive recall in U.S. history is under way, and auto makers are required by regulators and legal settlements to take unprecedented steps to reach customers. Amy Hull, a service manager at dealership Page Honda outside Detroit, paid a few of her employees overtime to hand-write customers’ addresses on envelopes containing recall notices, hoping recipients wouldn’t think it was spam. She and her team sent out more than 1,500 notices to customers.
There will be more than 100 different battery-powered vehicles available in five years, despite little interest so far from drivers.
Source: Bloomberg [return to top]
The second annual Safe + Sound Week will be held Aug. 13-19, 2018. The event is a nationwide effort to raise awareness of the value of workplace safety and health programs. These programs can help employers and workers identify and manage workplace hazards before they cause injury or illness, improving a company's financial bottom line. Throughout this week, organizations are encouraged to host events and activities that showcase the core elements of an effective safety and health program, including: management leadership, worker participation, and finding and fixing workplace hazards. For more information and to sign-up for email updates, visit the Safe + Sound Week webpage.
Given several recent high-profile data breaches and the attendant likelihood of identity theft incidents, the FTC has issued a reminder to all businesses of their duties under federal law to identity theft victims. Specifically, businesses are reminded that they must provide identity theft victims – or law enforcement at the victim’s request – with a copy of records relating to the theft. Following a written request from an identity theft victim, you must provide the records within 30 days, free of charge and without a subpoena. You must also take steps to ensure that the person asking for the records is who they say they are, to avoid scammers from taking advantage of this requirement. Dealers can find more details on these requirements here.
After the Equifax data breach, some people are considering placing a fraud alert, freeze, or lock on their credit file to help prevent identity thieves from opening new accounts in their name. To help consumers decide on a course of action, a Federal Trade Commission blog post, Fraud alert, freeze or lock after Equifax? FAQs, describes each option and how it works, how long it lasts, and how much it costs. And to help business owners inform their customers, the FTC offers Fraud alert, freeze or lock after Equifax? Answers to questions people are asking you.
As the menacing flames of the Thomas Fire push westward toward the coast in Santa Barbara, Calif., curtains of ash and smoke, driven by erratic winds, continue to stifle dealership communities as they grapple with damage, customer slowdown and personal property loss. There have been no reports of any dealerships being destroyed, but the spate of wildfires in California have put a dent into sales -- to the extent that Wells Fargo analysts wrote last week that the fires pose a downside risk to December U.S. auto sales results.