Bill Fox Elected NADA Chairman for 2015

SCOTTSDALE, Ariz. – The National Automobile Dealers Association’s board of directors has elected Bill Fox as chairman for 2015. Fox, who represents New York’s franchised new-car dealers on the NADA board of directors, will assume the position of chairman and CEO at the 2015 NADA Convention & Expo next January. “It is a true honor ... Read More »

NADA Chairman: Keep Automotive Retailing and Financing Competitive for Car Buyers

DETROIT, Mich. – Competition in automotive retailing is the cornerstone of the franchised new-car dealer network which benefits both car buyers and automakers, said Forrest McConnell, chairman of the National Automobile Dealers Association. “Competing with the dealer down the street or on the Internet benefits car buyers across the nation,” McConnell said today in remarks ... Read More »

Chrysler Capital, Santander Lower Cap on Dealer Participation

Chrysler Capital notified dealers on Sept. 26 that it is reducing its cap on dealer participation from two points to 1.75 points. Four days later, the company behind Chrysler Capital, Santander, said it is also reducing the cap to 1.75 points. The change, which took effect on Oct. 1, comes more than two weeks after ... Read More »

NADA Refutes CFPB Proxy Methodology Report

McLEAN, Va. – In response to the Consumer Financial Protection Bureau’s white paper released last week concerning the use of proxy methodology to identify potential discrimination in indirect auto financing, the National Automobile Dealers Association issued a four point rebuttal: The scope of CFPB’s white paper is very limited. It is confined to an analysis ... Read More »

Bill to Rescind CFPB Auto Lending ‘Guidance’ Gains Support in Congress

WASHINGTON – More than 400 new-car dealers and dealer association executives from across the country traveled to the nation’s capital last week urging lawmakers to support a new bipartisan bill that nullifies the Consumer Financial Protection Bureau’s flawed “guidance” on auto lending (NADA). H.R. 5403 – Reforming CFPB Indirect Auto Financing Guidance Act – sponsored ... Read More »

NADA Puts Biweekly Payment Providers in the Spotlight

NADA Supports Bipartisan Effort to Reform CFPB Auto Lending Guidance

WASHINGTON – America’s new-car dealers convene on Capitol Hill this week to urge Members of Congress to cosponsor H.R. 5403—the Stutzman-Perlmutter bill. The National Automobile Dealers Association is urging Congress to pass a new bipartisan bill (H.R. 5403) that nullifies the Consumer Financial Protection Bureau’s flawed guidance on auto lending and requires more transparency and ... Read More »

NADA Statement on New NHTSA Search Tool for Vehicle Recalls

McLEAN, Va. – In response to the National Highway Traffic Safety Administration’s new Vehicle Identification Number (VIN) look-up tool for vehicle recall information, Forrest McConnell, chairman of the National Automobile Dealers Association and a Honda/Acura dealer in Montgomery, Ala., issued the following statement: “The new online look-up tool will help new-car dealerships identify whether a ... Read More »

Industry Responds to New York Times Op-Ed on Subprime Auto Loans

Recent reports that the Department of Justice (DOJ) is looking into the subprime auto finance market have spurred a discussion about whether such loans will go the way of subprime mortgages. According to a New York Times op-ed piece published Friday, predatory auto loans have been a growing problem — but industry associations have stepped ... Read More »

Illinois Auto Dealers Association Selects NADART as its Preferred Retirement Plan Provider

McLEAN, Va. – NADART and the Illinois Automobile Dealers Association (IADA) announced today a new strategic partnership. As IADA’s preferred retirement plan provider, NADART will provide customized retirement plans to its member dealers and dealership employees, according to NADA. “We are excited to partner with NADART,” said IADA President Peter Sander. “Together we share a ... Read More »