Jan. 17, 2020
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Meet Canine Companions at the Auction to Benefit NADA Foundation

Don't miss this special charity auction to benefit the NADA Foundation’s Frank E. McCarthy Memorial Program, which supports Canine Companions for Independence (CCI). Founded in 1975, CCI is a non-profit organization that enhances the lives of people with disabilities by providing highly trained assistance dogs and ongoing support to ensure quality partnerships for adults, children, veterans and professionals. CCI graduate Jay C. Huston and service dog Hurley along with other volunteers and dogs in training will be in attendance at this special event. Head to the NADA Expo floor on Sunday, Feb. 16 at 11 am at KAR Global booth #3427C in the Central Expo Hall. CCI graduate Jay C. Huston and service dog Hurley along with other volunteers and dogs in training will be in attendance at this special event. Learn more and register for NADA Show 2020.
Source: NADA

Top Stories

Senate Approves NAFTA Replacement
The U.S. Senate on Thursday approved President Donald Trump’s replacement for the North American Free Trade Agreement, delivering a measure of trade certainty to automakers and a policy victory to Trump as the chamber prepares to begin an impeachment trial against him. Charlie Gilchrist, chairman of the National Automobile Dealers Association, said the pact will reduce the threat of additional, broad-based tariffs on vehicles and parts produced in North America.
Source: The Detroit News

Detroit Braces for Year of Slower Sales by Idling
Auto Plants
Detroit’s three automakers are bracing for a slower year of U.S. sales by tapping the brakes on production. And they’re not alone: Researcher LMC Automotive projects that five of the six largest North American manufacturers will assemble fewer vehicles this quarter than a year ago. Arguably the biggest concern the auto industry has going into 2020 is how much longer the good times will last after years of strong demand and rich pricing.
Source: Bloomberg

CPO Car Sales Reach 9th Straight Record Year
The certified pre-owned vehicle market is on the cusp of a decade run of record sales. With 2.8 million CPO vehicles sold, 2019 was the ninth straight year of best-ever certified sales, according to a CAMIO report from Cox Automotive this week. It was also a 4% hike from the prior year. But will 2020 make it 10 straight years of record certified sales? Potentially. Cox Automotive is forecasting 2.80 million CPO sales, which would be even with 2019.
Source: Auto Remarketing

EU's Hogan Says Bid to Reset Trade Ties with U.S. Off to 'Good Start'
European Union trade commissioner Phil Hogan said his meetings with senior U.S. officials marked a “good start” to resetting trade ties with Washington, but there was more work to do. Hogan said on Thursday that he had a good exchange of views with U.S. Trade Representative (USTR) Robert Lighthizer twice during his visit, underscoring Brussels’ desire to negotiate solutions for several open disputes between the allies and avoid costly and economically damaging tit-for-tat tariffs.
Source: Reuters

GM to Invest $40 Million at Propulsion Plant in Tenn.
General Motors on Thursday said it will invest $40 million in its Spring Hill Global Propulsion Systems operation to increase engine capacity for full-size trucks and SUVs. The investment will expand capacity of the 5.3-liter V-8 engine with Dynamic Fuel Management, which is paired with a 10-speed automatic transmission. The engine is available on the Chevrolet Silverado, Tahoe and Suburban and the GMC Sierra.
Source: Automotive News

Quotable

“Increased costs, combined with the discontinuation of more affordable options like domestic passenger cars, could prompt shoppers to shift their focus to the used market—or delay their purchase altogether.”

– Jessica Caldwell, Edmunds executive director of industry insights, Auto Remarketing, Jan. 16

Upcoming Seminars 

Advance Variable Operations Management
March 2-6
Tysons, Va. 

Advance Service Management
March 2-6
Tysons, Va.

Dealership Buy, Sell or Hold
March 3-4
Tysons, Va.

Financial Management
March 16-20
Austin, Texas

Upcoming Webinar

Implementing Change at your Dealership
Jan. 29

NADA Show Official Hotel Deadline Ends Jan. 23

Time is running out to book your hotel and receive a discount through NADA's official registration process. The deadline for official NADA hotel reservations is just one week away—Jan. 23, 2020, at 5 pm ET. To guarantee your reservation, a valid credit card is required at the time of online booking or when your housing form is submitted. For housing changes and cancellations, requests must be sent to nada@experient-inc.com by 5 pm ET, Jan. 23. For additional information and details, see the NADA Show registration policies and reserve your rooms today.
Source: NADA

New Law Underscores Need for TCPA Compliance

On Dec. 30, 2019, President Trump signed into law the TRACED Act, which amends the Telephone Consumer Protection Act (“TCPA”) and seeks to reduce the number of unwanted robocalls by: (a) providing the Federal Communications Commission (FCC) with strengthened enforcement powers, including an expanded statute of limitations and the ability to issue civil penalties (up to $10,000) for “violations [of the TCPA] with intent,” and; (b) requiring voice-service providers to implement certain caller-ID technologies.

The TRACED Act does not appear to be aimed at the type of communications most dealers conduct, nor does it appear to significantly alter dealers’ compliance burden under the Telephone Consumer Protection Act (TCPA). However, the FCC’s expanded enforcement mechanisms and increased penalties for “intentional violations” of the TCPA are a good reminder to dealers that they should review their current TCPA compliance proceduresand should discuss any potential implications of the TRACED Act with their legal counsel.
Source: NADA

2019 U.S. New Vehicle Sales Mark 5th Year Over 17 Million Units

The year came to a close with new light-vehicle sales of 17.1 million, according to the Automotive News Data Center. This marks the fifth straight year of more than 17 million units sold.
Source: NADA

Get the Latest Legal and Regulatory Updates for Dealers at NADA Show 2020

NADA Show Legal and Regulatory education sessions will address the latest hot topics for dealers and provide the information you need to stay up-to-date with dealership processes.
Source: NADA