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Author: Press Release

House Repeal of CFPB Auto Lending Guidance Good News for Dealers

House Repeal of CFPB Auto Lending Guidance Good News for Dealers With Today’s Vote, Congress Stands With Dealers and Their Customers Alexandria, VA (May 8) – The American International Automobile Dealers Association (AIADA) today applauded the United States House of Representatives’ passage of a joint resolution annulling the Consumer Financial Protection Bureau’s controversial auto lending guidance, which sought to limit a consumer’s ability to receive a discounted auto loan from a dealer. The resolution, already passed by the Senate, will now go to President Trump’s desk for his signature. “Today’s vote by the House is a reminder that our...

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Auto Dealers Applaud Vote to Repeal CFPB Auto Lending Guidance

Auto Dealers Applaud Vote to Repeal CFPB Auto Lending Guidance Senate Resolution Seeks to Undo Government Overreach Alexandria, VA (April 18) – The American International Automobile Dealers Association (AIADA) today reacted with optimism to the United States Senate’s passage by a vote of 51-47 of a joint resolution annulling the Consumer Financial Protection Bureau’s controversial auto lending guidance, which sought to limit the retail margins dealerships could earn while arranging a vehicle loan. The House of Representatives is expected to vote on its version of the bill soon. “The CFPB, established to regulate Wall Street, never should have involved...

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International Nameplate Auto Sales Up in March

International Nameplate Auto Sales Up in March Dealers Report Monthly U.S. Sales Figures Alexandria, VA (April 4) – The American International Automobile Dealers Association (AIADA) today released March sales figures for the international nameplate auto industry. Brands sold by America’s 9,600 international nameplate franchises accounted for 54.3 percent of all new vehicles sold in the United States last month, down from 55.4 percent in February. AutoData Corp. reports that the seasonally adjusted annual rate (SAAR) for March was 17.48 million units versus 16.82 million units a year ago. Total industry unit deliveries, including all brands and unadjusted for business...

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Ford’s Farley Stresses Dealership-Customer Synergy

Ford Motor Company obviously relies on its dealerships to sell cars, and they were given a shout out by Jim Farley, the OEM’s president of global markets, at the recent NADA/J.D. Power Automotive Forum in New York City. Automotive News reported that Farley said auto dealerships will continue to play a vital role in car sales, though there will be some changes in the future. He pointed to an evolution that will focus on smaller showrooms, “less conquesting” and a more personal relationship between dealers and consumers. Farley stressed that stronger relationships can be built with customers if the...

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Auto Dealers React to Latest U.S.-South Korea Trade Developments

Auto Dealers React to Latest U.S.-South Korea Trade Developments Agreement in Principle Good News for Dealers, Who Feared KORUS Withdrawal Alexandria, VA (March 28) – The American International Automobile Dealers Association (AIADA) today reacted with cautious optimism to the agreement in principle reached by U.S. Trade Ambassador Robert E. Lighthizer and his South Korean counterparts on modifications to the U.S.-Korea Free Trade Agreement (KORUS). “Uncertainty around global trade is an obstacle for all American businesses, large and small,” said AIADA President and CEO Cody Lusk. “Today’s announcement of an agreement in principle is good news for auto dealers who...

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