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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.
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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.
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The editor reveals the truth behind an NPR report critical of the industry’s efforts to undo the Military Lending Act guidance that put the brakes on GAP sales.
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Attorney Eric Johnson fields questions about the state of the CFPB, the now fully staffed FTC, and the aggressive stance of state attorneys general. He also offers a critical update on the Military Lending Act.
Read More →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.
Read More →Thanks could be in order when the industry gets together for NADA 2018, as the editor hears that a resolution to the Military Lending Act controversy isn’t far off.
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Michael Stanton Jr., former vice president and general manager of J.D. Power’s Vehicle Valuation Practice, formerly known as the NADA Used Car Guide, has returned to the NADA to work across the organization on strategic and operational issues.
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General Motors dealers who sell non-GM service contracts, parts and accessories must now disclose to their customers that the products are not backed by the automaker. Dealers who don’t comply face possible termination of their franchise agreement.
Read More →Robert P. Mallon, former president of the National Automobile Dealers Association and chairman emeritus of the National Automobile Dealers Charitable Foundation, died on August 3. He was 83.
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Tom Webb will retire on June 30, ending a more than four-decade career. Cox Automotive officials said a replacement will be named in the coming weeks.
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