Yesterday, by a bipartisan vote of 51-47, the Senate approved S.J.Res. 57, which rescinds the Consumer Financial Protection Bureau’s (CFPB’s) flawed auto finance guidance.
All Dealers Should Call Their Senators TODAY to Urge a “YES” Vote for S.J.Res. 57.
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.
With demographics set to transform the face of America, the automobile industry is continuing to explore how dealers and automakers tackle the internal issue of how best to advance minority and women dealers and dealership managers and encourage diversity.
NADA commissioned a large-scale research project that included consumer focus groups and a national survey about the future of personal transportation. And what we found cuts against much of the “conventional wisdom.”
“NADA has long supported a data-driven and informed process for determining future greenhouse gas and fuel economy standards, and we applaud EPA for putting us back on this path.”
“This decision upholds more than 40 years of consistent interpretation by the courts and the executive branch, and will allow the auto retail industry to continue structuring employment relationships that are efficient and beneficial to dealerships, their employees, and their customers.”
“This sentiment cuts across all demographics and is a durable, fundamental desire of most consumers, even millennials. Ride-hailing will continue to supplement personal vehicle ownership going forward, but it will not supplant it.”
“The automobile is the most exciting platform for innovation in the next 100 years,” says new NADA Chairman Wes Lutz.
Waymo’s John Krafcik, NADA President & CEO Peter Welch and AutoNation Chairman & CEO Mike Jackson had a wide-ranging discussion on technology’s role in the future of the auto industry during NADA Show 2018.