On October 20, the National Automobile Dealers Association (NADA) made several leadership announcements for 2021.
August’s SAAR of 15.2 million units marked a 4.8% increase from July’s SAAR of 14.5 million units but is down 11% compared with August 2019.
The Department of the Treasury issued guidance on the Aug. 8, 2020 Presidential Executive Order that defers an employer’s obligation to withhold, deposit, and pay the employee’s portion of the payroll tax on wages earned between Sept. 1, 2020 and Dec. 31, 2020.
During this quarter, retail sales recovered much more quickly than fleet sales from the effects of the COVID-19 pandemic.
As auto dealers, we know disruption; it isn’t new and it will never stop. In fact, we’ve found a way to grow and thrive out of disruption, and the coronavirus pandemic will serve as yet another example of dealers adapting and overcoming our challenges.
NADA Insurance announced 40-70% premium credits effective in April, 2020, for employee life, manager life and dealer group-life insurance products.
As the first quarter of 2020 has come to a close, the National Automobile Dealers Association issued an analysis of U.S. auto sales and the economy, including the initial impact of the COVID-19 pandemic on both.
The NADA Retirement Program from Empower will waive fees on all new retirement plan loans and hardship withdrawals to support dealerships and their employees’ financial needs resulting from the COVID-19 outbreak.
Even as they are operating in a challenging environment where customers and employees are staying home and the rules of operation change every day, auto dealers across the country are pitching in and doing their best to help their communities weather the pandemic.
NADA Chairman Rhett Ricart released a statement in response to the Senate passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.