NADA - Tagged Posts - Auto Dealer Today

NADA Predicts 1.2% Decline in 2020 New Car Sales

The National Automobile Dealers Association estimates U.S. new vehicle sales will fall to 16.8 million units as internal and external forces reshape the auto retail industry.

NADA: Franchised Dealership Payrolls Up Nearly 2%

Wages continue to rise for workers at U.S. new car dealerships, who earned an average of $72,800 in 2018, according to a midyear NADA Data report.

Ricart Elected 2020 NADA Chair, Walser Named Vice Chair

Ohio dealer Rhett Ricart and Minnesota dealer Paul Walser will take the reins as chairman and vice chairman of the National Automobile Dealers Association at NADA 2020.

Gilchrist: USMCA a Win for Dealers, Industry

NADA Chairman Charlie Gilchrist voiced his support for the United States-Mexico-Canada Agreement in remarks at a press event. The Texas dealer urged Congress not to ignore the ‘reality’ of an auto industry built on favorable relationships among the three nations.

Detroit, Japan Factories Suffer in Short September Sales Report

U.S. sales of new cars and light trucks fell 12% year-over-year in September, suppressed in part by a Labor Day weekend allotted to August. Few were spared the sting, with all six of America’s and Japan’s biggest factories reporting double-digit declines.

NADA Mounts Opposition to Enhanced Safeguards Rule

National Automobile Dealers Association officials have told the FTC that proposed new provisions to the Safeguards Rule may be unnecessary and could cost smaller dealers more than $400,000 in the first calendar year of enforcement.

NADA: F&I Income, Penetration Rates Remain Strong

Despite escalating new-car prices and plateauing sales, NADA analysts report little change to American dealers’ per-copy average, penetration rates, and F&I income as a percentage of gross profit in 2018.

NADA: Employment, Payroll Up for New-Car Dealers

U.S. franchised auto dealers paid over $66 billion to more than 1 million workers in 2018, a 1.9% year-over-year increase that pushed the average employee’s pay to $1,134 per week.

March Sales Down 3.1% as SAAR Soars

The U.S. new-vehicle sales forecast improved to 17.42 million units in March, but sales fell 3.1% year-over-year against slowing demand fueled by higher interest rates, prices, and payments and reduced incentive spending.

House Approves Resolution to Repeal CFPB's Dealer Participation Guidance

As expected, the House approved the resolution of disapproval of the CFPB's guidance on dealer participation. With the Senate having voted on the resolution last month, all that's left to rescind the controversial guidance is President Trump's signature.