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NADA Convention Features Former U.S. Presidents and Industry Leaders
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Former presidents George H.W. Bush
and Bill Clinton will speak on Jan. 26. | The National Automobile Dealers Association (NADA) has assembled a lineup of leading political figures and inspirational speakers — including former U.S. Presidents George H.W. Bush and Bill Clinton — to deliver remarks at its 92nd annual Convention & Exposition in New Orleans Jan. 24-27.
“This year’s lineup is one of the most impressive in NADA’s history,” said Convention Chairman and auto dealer Jeff Carlson. “In line with NADA’s convention theme of ‘Committed to Community,’ former U.S. Presidents George H.W. Bush and Bill Clinton join us in highlighting nationwide efforts to give back to the New Orleans community.” (more)
'National Automotive Roundtable' Hosts NADA, Automakers and UAW Leaders
DETROIT, Jan. 13 — The leaders of NADA, General Motors, Chrysler, Ford, and the UAW sat down with WJR Radio host Paul W. Smith for the "National Automotive Roundtable" to discuss the challenges facing the industry.
The two-hour radio show focused on dealers, government loans, industry reorganization, worker issues, and products, with a focus on the future of the industry. Click here to listen to the show.
Convention to Host 21 Automaker Franchise Meetings at Critical Time
Editor's note: Advance registration for the 2009 NADA Convention & Expo is now closed, but you can still register on site. Click here for details.
| New! We've added a free workshop for members of the public: “The ABCs of Car Financing,” Jan. 24 in New Orleans. Click here for details. |
Now that U.S. automakers will receive emergency bridge loans, attention has shifted to NADA's Convention in New Orleans in January when dealers will have an opportunity to meet face-to-face with the top leadership of the auto manufacturers. NADA's Industry Relations Group has announced that 21 separate manufacturer franchise meetings have been confirmed at the convention.
"NADA is pleased that nearly all of the automakers' CEOs and presidents plan to attend these important meetings," said Annette Sykora, NADA Chairman. General Motors' Rick Wagoner, Toyota's Jim Lentz, Chrysler's Jim Press and Ford's Alan Mulally are all planning to attend. Mulally will deliver the keynote industry address at the convention's opening session on Saturday, Jan. 24.
"There could not be a more important time for a dealer to attend an NADA convention and hear directly from their manufacturer," Sykora said. Franchise meetings offer dealers the opportunity to hear from NADA, dealer councils and the automaker's leadership, as well as ask questions of their manufacturers directly.
"These meetings come at a critical time," Sykora said. "Automotive retailing is going through historic changes, and there is no better place for dealers to meet and discuss the future of their industry than at the NADA convention," she added.
Information, registration and a complete list of scheduled franchise meetings can be found here.
Federal Reserve Approves NADA-Backed Initiative to Boost Inventory Financing
WASHINGTON (Dec. 22) – Following President Bush’s announcement Friday to provide $17.4 billion in bridge loans to General Motors and Chrysler, the Federal Reserve Board, in a related action, addressed a key request from NADA by including floor plan securitizations in a new $200 billion credit facility the Federal Reserve is establishing.
The Federal Reserve on Friday clarified the eligibility requirements under the new Term Asset-Backed Securities Loan Facility (TALF) and, in doing so, for the first time included securities backed by dealer inventory loans as a qualifying asset class.
“This move meets a key need that NADA had identified for greater liquidity in the auto retailing marketplace,” said Andy Koblenz, NADA vice president of legal and regulatory affairs. (more)
NADA Chairman Says Automaker Loans Provide 'Shot in Arm' for Our Industry
Relief Package Is First Step in Restoring Consumer Confidence
WASHINGTON (Dec. 19) – NADA Chairman Annette Sykora said President Bush’s decision to provide domestic automakers with short-term loans gives “the shot in the arm we need to lead the economic recovery."
“This is the first step toward restoring consumer confidence,” Sykora said. Bush said the government will provide $13.4 billion to U.S. automakers in short-term loans to give manufacturers time to restructure.
“When you have the government declaring its confidence and commitment to U.S. auto manufacturers, it helps reassure the American public that domestic automakers will be around for the long term,” Sykora said. “This sends a clear message: Consumers can now consider any car from any manufacturer with confidence.”
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