Tag Archive | "National Automobile Dealers Association"

NADA Chairman to Headline Industry Summit

LAS VEGAS — Organizers of the annual P&A Leadership Summit have announced that Bill Fox, 2015 chairman of the National Automobile Dealers Association (NADA), will deliver the evening keynote address at this year’s Industry Summit, which will be held Sept. 8–10, 2015, at Paris Las Vegas. Attendees who register for the P&A Leadership Summit are invited to attend the session.

“Bill Fox is a tireless advocate for his fellow dealers, among whom he is held in high regard as a voice of reason and leadership through good times and bad,” said David Gesualdo, show chair and publisher of F&I and Showroom and P&A magazines. “We are honored to welcome him to Industry Summit.”

Fox is a partner in Fox Dealerships Inc., a group that represents nine brands in the Upstate New York cities of Auburn and Phoenix, as well as a licensed attorney. His NADA tenure began in 2006, when he joined the organization’s board of directors, and has continued through the Great Recession and innumerable regulatory and legislative challenges to the franchised dealership model.

“I’m honored to deliver keynote remarks at the Industry Summit, which brings together new-car dealers and their managers and others in the auto financing community to hear from industry experts on a variety of financing and retailing topics,” Fox said. “Our industry is constantly overcoming challenges while seeing new ones arise. Forums like this allow us to continue an open dialogue with our industry partners to discuss NADA’s top issues, which include protecting consumer access to credit, promoting the value of the dealer franchise network and refocusing our efforts as a trade association to better serve our dealer members.”

More information about Industry Summit and P&A Leadership Summit is available at the events’ websites. Attendees who register by Aug. 7 will enjoy a $100 early-bird discount.

To inquire about sponsorship or exhibition opportunities, contact David Gesualdo via email hidden; JavaScript is required or call 727-947-4027.

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J.D. Power to Acquire NADA Used Car Guide

WESTLAKE VILLAGE, Calif. — J.D. Power and the National Automobile Dealers Association (NADA) have announced an agreement under which J.D. Power will acquire NADA’s Used Car Guide business, a well-known source of used-vehicle values. The transaction is expected to close early in the third quarter of 2015 and is subject to Hart–Scott–Rodino Act review.

Established by NADA in 1933, NADA Used Car Guide is a provider of U.S. retail, loan, trade-in and auction used-vehicle values, and is widely recognized in the industry as the authority for accurate and comprehensive used-vehicle valuation information. The company will remain based in the McLean, Va., vicinity where it serves more than 100,000 subscribing clients, including retailers, financial institutions, insurers and software providers.

“This deal is a perfect fit for dealers and NADA Used Car Guide customers. Under terms of the deal, NADA members will continue to receive a subscription to the Guide as a membership benefit,” said Peter Welch, president of NADA. “NADA and J.D. Power will continue to build upon our longstanding alliance by sharing data and insights, and bringing together retailers and leaders from the automakers, suppliers and the media at co-hosted conferences and events, offering thought leadership and solutions directly benefiting the retailer network and overall automotive industry.”

J.D. Power is a global marketing information services company known for using the voice of the customer to create reviews and ratings which measure the shopping, purchase and ownership experience across a wide range of brands and products. The Power Information Network (PIN) from J.D. Power provides real-time automotive information and decision-support tools based on the collection of daily new- and used-vehicle retail transactions.

“We are thrilled to add the NADA Used Car Guide and its vehicle valuation capabilities to J.D. Power,” said Finbarr O’Neill, president of J.D. Power. “NADA Used Car Guide analytical solutions will perfectly complement PIN’s expertise in new- and used- vehicle retail and pricing services, and we will gain an impressive array of integrated vehicle valuation solutions. The Guide’s high integrity and unbiased approach to used-vehicle values, analytics and insights fits perfectly with J.D. Power’s reputation as a trusted advisor to the automotive industry.”

The agreement brings together PIN, which combines advanced analytics of new- and used-vehicle retail sales and pricing data, with the complementary and extensive knowledge, expertise and market presence of the NADA Used Car Guide, thereby expanding J.D. Power’s analytical and modeling capabilities into new product offerings, deepening its presence in auto finance and auto insurance, and enriching retail solutions, officials said.

The NADA Used Car Guide name will be used by J.D. Power for a period of time before transitioning to the J.D. Power brand.

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Economist: Auto Sales Will Rise Again Next Year

LOS ANGELES – The good times will keeping rolling for the auto industry next year, with higher sales and continued low gasoline prices, the National Automobile Dealers Association’s chief economist predicts, reported Detroit Free Press.

Sales of new vehicles, already on pace to top 16 million for the first time since the mid-2000s, will increase to 16.94 million in 2015. That would be an increase from this year’s expected 16.4 million, the NADA says.

“Rising employment and wages, continued low interest rates and lower gasoline prices all signal an increase in new light-vehicle sales in 2015,” NADA Chief Economist Steven Szakaly said in a statement. The prediction was released ahead of the Los Angeles Auto Show here.

The sales increase is based on a predicated 3.1% increase in the gross domestic product, up from 2.1% this year. The forecast is pretty much rosy all around, with an expected 242,000 new jobs being created a month next year. Both workers’ disposable income and corporate profits will rise.

Best of all for the auto industry, oil prices will stay low. “Lower oil prices, which translate into lower prices at the gas pump for consumers, increases household spending on other goods and services, resulting in higher growth,” Szakaly said in his statement. “If oil and gasoline prices remain low through 2015, we could easily see consumers return in even greater numbers to the light-vehicle market during the second half of 2015.”

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Franchised Dealers Provide Price Competition, Safety and Local Economic Benefits

New York – Franchised new-car dealers in the U.S. helped pave the way for start-up brands, such as Honda and Toyota, said Forrest McConnell, chairman, National Automobile Dealers Association (NADA).

“All these manufacturers — even back in 1968 — leveraged the franchised dealer system to get their products to the public because franchised dealers shouldered the cost of stores, service, employees and inventory,” McConnell said in remarks at the 2014 Automotive Forum presented by NADA and J.D. Power in New York City. “Dealers gave those franchises a partner on the road to success.”

McConnell, a Honda and Acura dealer in Montgomery, Ala., highlighted the consumer benefits of the current franchise dealer network for sales, service and handling vehicle recalls. He said the franchise dealer system drives competition up and keeps costs down, and “cutting out dealers would not lower car prices because a factory-owned retail network would have to put in the same investment in physical assets and the same operating expenses that dealers now shoulder.”

“If manufacturers sold directly to customers, there would be zero competition in pricing vehicles, parts and service. Dealerships compete fiercely for the opportunity to sell people cars and to service those cars for the long-term. That kind of competition benefits customers,” he added. “Customers would be stuck paying the full sticker price — because there would be no ‘same brand dealership’ to shop and compare prices. The biggest competition for a Ford dealer is the other Ford dealer down the street.”

McConnell added that 2013 was a record year for product safety recalls, and this year with millions of General Motors vehicles recalled, more than 4,000 GM dealers nationwide are gearing up to take care of their customers.

“When something goes wrong on the assembly line, our service departments are there to make things right,” he said. “GM dealers are getting ready to support their customers from New York City to Yuma, Ariz., at no cost to them.” Car and truck owners know they have a dealership in their community that they can turn to.”

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NADA and ATD Issue Call for Convention Workshop Proposals

McLean, Va. – Workshop proposals for the 2015 NADA and American Truck Dealers Convention & Expo (ATD) are now being accepted.

Each workshop proposal should be new content – not previously presented – on a timely topic of broad interest to new car or commercial truck dealers and their managers. Each proposal should include a title, synopsis, learning objectives, presentation format and 60-second video clip covering the workshop’s main focus.

The deadline to submit a proposal is 5 p.m. ET on May 2, 2014. The NADA and ATD selection panels meet in June, and will inform those who submit proposals of their status by July 18.

Thousands of dealers and their employees, as well as other industry professionals, looking to learn about strategies for profitability and growth attend the workshops, which will presented up to three times over four days at the convention.

“There’s no other opportunity like this in our industry to share creative growth strategies and solutions with such a large group of retail professionals who are all looking for a competitive edge,” said Wesley L. Lutz, chairman, NADA Dealership Operations Committee and a new-car dealer in Jackson, Mich.

The workshops will cover all facets of the dealership business through a variety of tracks tailored to key operational areas. The tracks are Dealer/Executive, Internet and Marketing, Human Resources, Legal and Regulatory, Sales, Business Office/F&I, Parts and Service and Body Shop.

To submit a workshop proposal, including a video clip, visit www.nadaconvention.org for instructions.

The NADA and ATD convention will run Thursday, Jan. 22, 2015, to Sunday, Jan. 25, 2015, in San Francisco.

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NADA Used Car Guide Names Top Truck and SUV Retention Values

McLean, Va. – Large pickup trucks have the highest retained value of all three-year-old light duty trucks and SUVs at 62.5% of the Manufacturer Suggested Retail Price (MSRP) for a typically equipped model, said the National Automobile Dealers Association (NADA) Used Car Guide in the March edition of NADA Perspective, a monthly industry trends report. Mid-size vans ranked the lowest at 49.2%.

“Americans have always had a penchant for pickups,” said Jonathan Banks, executive automotive analyst, NADA Used Car Guide. “A recovering housing market, better fuel economy and a wide range of trim levels have helped increase demand and keep retention values among the highest in the industry.”

The highest retaining vehicle of all the segments is the Toyota Tacoma in the mid-size pickup segment at 80.7%, while the lowest retaining vehicle is the Suzuki Grand Vitara in the mainstream compact utility segment at 41.5%.

In the mid-size utility segment, the Toyota 4Runner topped the list with retention at 79.8%, which made it the second-highest retaining vehicle in the industry behind the Toyota Tacoma mid-size pickup. Toyota brand vehicles placed within the top two highest retention values in each of the mainstream segments. Toyota also topped the luxury large SUV segment with its Land Cruiser.

The Audi Q5 led the luxury compact utility segment with 67.8% retention and is also among the segment’s top sellers. Although the segment is limited in supply, the leap in sales for the most-liked models is evidence of its booming demand.

The hybrid SUV and truck segment on average retains at a rate of 54.3%, which is lower than nearly all other respective segments, with the exception of mid-size vans. Toyota has two vehicles in the top three spots; in first place, the Highlander’s retention score of 64.4% beat out the GMC Yukon Denali and Lexus RX by a combined average of 6.3 points.

“Although hybrid truck retention was lower than that of most other segments, it was almost six points higher than hybrid car retention,” said Banks. “This is consistent with overall truck performance, as the group’s retention largely outperformed that of cars.”

NADA calculated retention figures for the most prevalent trim level of three-year-old light duty trucks and SUVs. For the purposes of this report, retention is a function of a three-month average (Jan. 2014 – March 2014) of NADA’s average trade-in value divided by a vehicle’s typically-equipped MSRP, not including any incentives or rebates available at time of purchase.

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