Two separate measures are under consideration in Congress to repeal the Consumer Financial Protection Bureau’s (CFPB) deeply flawed and anti-consumer auto financing guidance from 2013 that pressures indirect auto lenders to eliminate the ability of local dealerships to offer discounted auto loans to their customers.
This critical amendment was more than just another tax issue to us. The floor plan loan is the economic cornerstone of the franchised dealership.
Many consumers who purchase new cars or trucks from local dealerships may not realize that the dealership actually owns those cars and trucks, which they purchase directly from the factories. So how are dealerships able to afford keeping an inventory of all of those new cars and trucks on their lots?
NADA Chairman Mark Scarpelli on Tuesday urged automakers to consider how stair-step incentive programs are damaging their brands, and alerted manufacturers about the unintended consequences of such programs that erode consumer trust and lead to a lack of loyalty to – and desire for – their brands over time.
More than 400 new-car and truck dealers and dealer association executives from across the country traveled to the nation’s capital this week urging lawmakers to implement pro-growth tax reform.
MyDealership.org is an initiative by America’s local new car and truck dealerships, designed to show the benefits of local dealerships to consumers, local communities, and car manufacturers.
I am holding strong to the stance that if factory efforts such as stair-step incentive programs run afoul of everything we and our customers care about, including fairness and transparency, then we are obliged to tell our factory partners that the stairs are merely steps leading directly to the basement.
On Wednesday, House Financial Services Committee Chairman Jeb Hensarling (R-Texas) introduced the Financial CHOICE Act, H.R. 10, a comprehensive financial reform bill.
If you work in automotive retail, chances are that you or someone you know has benefited from the NADA Academy. Founded in 1979, the industry standard for dealership operations training has prepared generations of automotive leaders for successful dealership careers.