Your Daily Operations Magazine
Based on an interpretive rule issued by the Defense Department on Dec. 14, including credit-protection products like GAP in a servicemember’s vehicle finance contract could subject it to a slew of restrictions and requirements under the Military Lending Act (MLA).
General Motors dealers who sell non-GM service contracts, parts and accessories must now disclose to their customers that the products are not backed by the automaker. Dealers who don’t comply face possible termination of their franchise agreement.
According to the trade group’s NADA Data 2016 report, dealership employees had one of the highest average salaries of any industry.
By the time the NADA was founded in 1917, the sufficiency of units in operation meant a growing opportunity for used-vehicle sales. According to 1917 motor vehicle registrations, as compiled by the U.S. Bureau of Public Roads, nearly five million cars and trucks were registered. And by late 1916, creative rebuilders were putting old cars, now “reconditioned,” back on the road.
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 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 NADA Used Car Guide's used-vehicle price index slipped 0.3% in January, with sales volume coming in 4% lower than the same period last year.
The NADA’s board of directors has elected Jeff Carlson as its 2016 chairman. The Colorado dealer is currently serving as NADA vice chairman.
The man who has led the NADA’s regulatory advocacy efforts since 2006 believes the tide may be turning in the CFPB’s attack on dealer participation.
New York dealer Bill Fox brings experience, passion, humility and unwavering support for the franchised dealer model to his role as 2015 NADA chairman.