The same week the CFPB celebrated its five-year anniversary, trade groups representing various motor vehicle industries urged U.S. Senators to support legislation that would rescind the regulator’s March 2013 guidance on dealer participation, among other things.
The event — which is exclusive to NADA and American Truck Dealers members — will be held at Mardi Gras World on Jan. 26, 2017. It will feature cuisine from top New Orleans restaurants and entertainment from Foreigner, Cowboy Mouth and local jazz musicians.
Introduced in March, U.S. Senate Bill 2663 aims to repeal the bureau's March 2013 guidance on dealer participation and add a few more steps to the regulator's guidance-writing activities. In an op-ed piece posted on the NADA's website, Chairman Jeff Carlson offers his thoughts on the legislation and explains why dealers need to rally behind it.
The firm reported that wholesale prices for cars eight years or older fell 2% in May, which was better than the 2.7% drop recorded for the month over the last four years. The improvement led to the first increase this year in the NADA Used Car Guide's used-vehicle price index.
Peter L. Fong has joined the National Automobile Dealers Association as senior vice president of dealership operations. One of his key areas of interest will be to accelerate the process of moving dealerships toward the ‘online to in-store’ car-buying experience for consumers.
The NADA Used Car Guide's used-vehicle price index fell to its lowest level in more than five years in April. Analysts expect prices this year to be down 5% and 6% on an index-basis from 2015, the steepest non-recession declines in the last 20 years.
The NADA announced its involvement in a campaign designed to promote safer driving experiences. The program educates consumers about how to best interact with safety features.
The firm's new augmented reality solution will allow dealer personnel to show customers a fully interactive 4-D view of their vehicle, its warranty coverage and components inside the showroom, F&I office and on the lane.
Aside from announcing its new marketing director, the retail solutions provider said it will debut a new line of products at the upcoming NADA Convention & Expo.
Technology is evolving at a rapid pace, and a workshop at the 2016 NADA Conference & Expo in Las Vegas will show dealers how to adapt for maximum profitability.
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