The NADA’s chief economist said the industry will sell 17.1 million new units in 2017. That forecast could rise by the end of February — that's if the the new administration delivers on its stated policy objectives.
NADA Chief Economist Steven Szakaly says a clear set of economic policy goals delivered before the New Year would go a long way to ensuring that any immediate uncertainties are smoothed over.
Aside from electing Mark Scarpelli chairman, the National Automobile Dealers Association’s 63-member board of directors selected Michigan's Wes Lutz as the trade group's 2017 vice chairman.
Nearly across the board, the retention rates of model-year 2013 vehicles were down this year compared to the same time last year, according to the most recent NADA Used Car Guide Perspective report.
Employees at new-car dealerships made, on average, $69,718 a year in 2015, a 1% increase compared to the year prior, according to the NADA’s 2016 Dealership Workforce Study. General managers and F&I managers experienced double-digit percentage earnings growth rates, while sales managers and sales consultants increased 4.5% and 2.7%, respectively.
The Federal Trade Commission issued a second Federal Register Notice (FRN) on a proposed qualitative survey that would examine the experience of buying and financing a car at a dealership.
The National Automobile Dealers Association (NADA) has hired Abram Olmstead as its digital media director. He will oversee the NADA's communications efforts across all digital platforms.
E-Credit Express announced today it will integrate NADA Used Car Guide values into its lender management platform to speed up the used-vehicle sale and loan approval process for dealers and finance sources.
Wholesale prices for vehicles up to eight years in age fell 2.3% in July, tying June for the biggest drop recorded so far this year, according to the NADA Used Car guide. As a result, the firm lowered its seasonally adjusted used vehicle price index 1.1% to 118.9 .
Despite current economic and political uncertainties, the NADA is sticking with its original sales forecast of 17.7 million news cars and light trucks for 2016. The association's chief economist, however, predicted that total sales will drop to 17.1 million units in 2017, noting that most of the pent-up demand from the Great Recession has been satisfied.
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