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Tag Archives: nada
FCA Auto Dealer Wes Lutz 2018 NADA Chair
NADA was founded in 1917 when 30 auto dealers traveled to the nation’s capital to convince Congress not to impose a luxury tax on the automobile. They successfully argued that the automobile is a necessity of American life, not a luxury. Continue reading
New Car Dealership Employment Sets Record in 2016
“Total dealership employment has consistently risen every year since the Great Recession,” said NADA Chief Economist Steven Szakaly. “In addition, hundreds of thousands of other local jobs are dependent on dealerships.” Continue reading
Posted in economy, financial results
Tagged autoinformed, autoinformed.com, car service, Dealership Employment, Ken Zino, nada, recalls, warranty
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NADA Celebrates Its 100-Year Anniversary
Founded in 1917, NADA was formed when a group of local dealers set out to fight Congress on levying a luxury tax on new automobiles. Continue reading
Posted in milestones, news analysis, people
Tagged autoinformed, autoinformed.com, Jeff Carlson, Ken Zino, Mark Scarpelli, nada, NHTSA recall completion rates
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Wages Rising at New Car Dealerships. Turnover Problematic
During 2015, America’s new-car dealerships created new jobs and provided median weekly earnings of $1,026, which exceeded non-farm, private-sector median weekly earnings of $825 by 24%. Over a five-year period, average compensation across all dealership positions increased steadily at an average annual rate of 3.2%, while median income growth of all positions grew at an average annual rate of 2.6%. Continue reading
Posted in economy, labor issues
Tagged autoinformed, autoinformed.com, Ken Zino, nada, New Car Dealership Employment and Wage
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U.S. Vehicle Sales to Remain Strong in 2016?
Despite disappointing July sales results and some economic and political uncertainty with the upcoming elections, the National Automobile Dealers Association (NADA) is holding to its sales forecast of 17.7 million new cars and light trucks for 2016 in the U.S. Continue reading
New-Car Dealership Jobs Up 4.3% in 2015
In 2016, expect new-car dealership employment to reach an all-time high. The past six years have been the longest period of new-vehicle sales growth since the 1920s, and the outlook for 2016 is just as bright. Continue reading
Is 17.7 Million 2016 Sales of Light Vehicles in the US a Fantasy?
“We are living peak auto sales right now, and we will see one more year of that growth in 2016,” Szakaly added. “But only because of rising incentives that will keep consumers coming into showrooms. The real worry now is whether we’re starting to pull sales ahead from future years.” Continue reading
Posted in sales
Tagged autoinformed, autoinformed.com, Ken Zino, nada, Steven Szakaly
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US Used Car Prices Stable in August
In the U.S. during August used vehicle depreciation fell by 1.9%, followed by a 0.6% new vehicle sales drop when compared to July. At this time of year, wholesale used vehicle sales begin to slow, traditionally making it a tricky time for shoppers, as local dealer inventories will determine prices. Continue reading
Record Sales of Car, Light Trucks Predicted at CAR Conference
Sales of new cars and light trucks will continue their post-recession recovery, reaching a record high of 17.46 million vehicles in 2016, said Steven Szakaly, chief economist of the National Automobile Dealers Association. Continue reading
NADA Opposes Credit Reform on Auto Lending Practices
the National Automobile Dealers Association (NADA) is lobbying members of the U.S. House Financial Services Committee to pass H.R. 1737, a bill that would repeal the Consumer Financial Protection Bureau’s (CFPB) 2013 guidance on fair auto lending practices Continue reading
Posted in customer satisfaction, news analysis
Tagged auto lending, autoinformed, autoinformed.com, Ken Zino, nada
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CFPB Scoffs at NADA FOIA Request on Auto Lending
The Consumer Financial Protection Bureau, aka CFPB, has rejected a Freedom of Information Act – FOIA – request by the National Automobile Dealers Association to release a memorandum that NADA alleges shows that the agency is seeking to exercise jurisdiction over auto dealers financing, which is prohibited under the Wall Street Reform and Consumer Protection Act of 2010, also called Dodd-Frank. Continue reading
Posted in customer satisfaction, litigation
Tagged auto lending practices, auto loan abuses, autoinformed, autoinformed.com, cfpb, Ken Zino, nada
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NADA FOIAs to CFPB on Targeting Auto Dealers
As always, it pays to shop since rates can vary drastically, and there have been cases of blatant discrimination where dealers charged varying amounts even though the victims have the same credit scores. (Read AutoInformed on Asian Auto Lending Discrimination in Los Angeles?) Continue reading
Posted in prices
Tagged auto lending, autoinformed.com, cfpb, flat rate lending, Ken Zino, nada
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2015 New Vehicle Sales on Pace for 17 Million
In NADA’s view, stable gasoline prices are leading to a resurgence in demand for SUVs and CUVs, as well as pickup trucks – all of which have taken market share from small, midsize and luxury cars. Continue reading
As Automakers Move to Eliminate Franchised Car Dealers, the “No Jobs” Debate Continues over the future of the US Economy
Not coincidentally, the survey comes as automakers are redoubling efforts to sell vehicles online as a way around traditional middlemen, specifically NADA members, which of course raises the end price of a new vehicle to buyers. Continue reading
Financial Protection Bureau Auto Loan Regulation Anti-Consumer Says NADA
A proposed regulation stipulating flat fees in auto lending will actually end up hurting consumers because franchised car dealers will not be able to cut rates, according to the National Automobile Dealers Association. Continue reading
Posted in auto news, customer satisfaction, financial results
Tagged apa, auto loans, autoinformed, autoinformed.com, Ken Zino, nada
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