President Trump signed into law S.J. Res. 57 – a measure passed by Congress to reject a Washington bureaucracy’s rule which could have eliminated the ability of car dealerships to discount loans for their customers.
Today’s vehicle financing model is extraordinarily efficient and competitive and provides access to affordable credit to consumers in all credit tiers.
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.
“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 NADA Foundation’s Board of Trustees has approved plans and funding for a largescale workforce initiative to promote the value of dealership jobs, especially service technicians, in the automotive retail industry.
The National Automobile Dealers Association (NADA) on Friday released its 2018 U.S. sales forecast, predicting the sale of 16.7 million new cars and light trucks.
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.