GMMDA4
GMMDA Friday News Flash
News from the Premier Minority Dealer Association in the Industry
A weekly e-publication of the GM Minority Dealers Association
Friday, September 10, 2010

DEALER TO DEALER ONLINE AUCTION SALES REFLECT MARKET PULL FOR USED VEHICLES


Auto dealers experiencing the shortage of high-quality used vehicles across the country are expanding their reach with a virtual online inventory of vehicles from SmartAuction, Ally Financial's online wholesale remarketing auction site. This increasing demand has allowed SmartAuction to out-perform the industry by recording a nearly 14 percent increase in dealer-to-dealer online wholesale transactions in the United States for the first six months of 2010 compared to the first six months last year. According to the National Auto Auction Association's (NAAA) latest Auction Industry Report, wholesale transactions of dealer-owned vehicles were up 6.9 percent across the industry. In addition to the sizable increases in SmartAuction's active dealer base, average monthly postings per dealer are more than double what they were last year. Source: www.reuters.com, Sept. 8, 2010

GLOBAL AUTO INDUSTRY OUTLOOK DIMS AS U.S., CHINA MARKETS SLOW

General Motors plans to start trading shares again on Nov. 18, timing that allows the company one more quarter of earnings to build its case to investors, a firm that researches initial public offerings said Thursday. Scott Sweet, the managing partner of IPO Boutique, said GM plans to price the shares on Nov. 17 and begin selling them the next day. He said the automaker wants to start a two-week a road show to drum up investor interest on Nov. 3, the day after the midterm congressional elections. It's unclear if the IPO dates have been finalized. Two people with knowledge of the process say the automaker's board hasn't approved a date for the IPO but is expected to meet next week to discuss the issue. GM is in a "quiet period" before an IPO, so no one is authorized to discuss the process publicly. The company filed paperwork for an initial public offering with federal regulators last month. GM spokeswoman Renee Rashid-Merem declined to comment Thursday on the timing of the IPO. Source: www.bloomberg.com, Sep. 9, 2010

CONSUMERS FIND AUTO DEALS, DISCOUNTS THING OF PAST


For years, Americans shopping for cars were treated to all sorts of deals and incentives, especially at the end of summer. Think Cash for Clunkers, which paid up to $4,500, or promotions that offered employee discounts to everyone. Deals are getting more scarce because automakers, newly lean and profitable, are holding the line on those profit-eating promotions. In July, they offered $1,000 less in incentives per car than a year earlier, according to Edmunds.com. And with no one expecting the government to offer a repeat of the clunkers program, get ready for fewer discounts on your next car. "This may be as good as it gets, and get used to it," says Jeff Schuster, the executive director of forecasting for J.D. Power and Associates. The standoff between buyers and car makers could continue through the rest of the year, says Jesse Toprak, TrueCar's vice president of industry trends and analysis. "We really need some sort of catalyst to take us up to a higher level," he says. Others say a healthier economy -- not incentives -- is the only real driver for higher sales. Source: www.detnews.com, Sept. 9, 2010

LEGISLATIVE NEWS


The number of people killed on U.S. highways fell last year to the lowest level since 1950, the U.S. Transportation Department said, crediting seat-belt use and campaigns to combat drunk-driving for the decline. Fatalities in motor-vehicle crashes in 2009 fell to 33,808, a 9.7 percent decline from a year earlier, the National Highway Traffic Safety Administration said today in a statement. The decrease came as people in the U.S. drove 0.2 percent more than the year before. The death rate fell to 1.13 deaths per 100 million vehicle miles traveled in 2009, compared to 1.26 deaths for 2008, the agency said. "Today's numbers reflect the tangible benefits of record seat belt use and strong anti-drunk driving enforcement campaigns," NHTSA Administrator David Strickland said in the statement. "But we are still losing more than 30,000 lives a year on our highways, and about a third of these involve drunk driving." Source: www.autonews.com, Sept. 9, 2010

ADP TOTAL DEALER SPEND ANALYSIS

Reduce your dealerships spend. In today's challenging marketplace, amidst the unprecedented economic and credit crisis we understand that dealers are looking closely at anything that can help reduce your dealership spend and drive more profit to your bottom line. This usually means looking at every expense...but what's the best way to go about this? Make sense of it all with an accurate analysis. This is where we can help. Only ADP has a proven process called the ADP. Total Dealer Spend Analysis. We use this step-by-step approach to gather, analyze and present results that detail the areas in your dealership where you can begin reducing spend while offering ways to increase revenue and drive more profit to your bottom line. And, we do this analysis for free, whether you are an ADP client or not. If interested call Tony Valdivia at (630) 776-1566 or tony_valdivia@adp.com

Newtek Business Services - The Small Business Authority


The Small Business Authority, Powered by Newtek saves GMMDA members money! We have been able to identify savings on merchant processing for as much as 31% for GMMDA members! We live by a focused and enduring mission: To provide the small business community with the experts, services, technologies, and resources needed to succeed in today's competitive and ever-changing marketplace. We execute this charge daily with an unwavering commitment to honesty and integrity, a dedication to quality and customer care, and a relentless emphasis on security. We will increase your sales, reduce your expenses and minimize your risk! For more information on all of Newtek's products and services, please contact Adam Altman at 212-273-8239 or visit www.newtekreferrals.com/site/394

This Week's Flash
Dealer to Dealer Online Auction Sales Reflect Market Pull for Used Vehicles
Global Auto Industry Outlook Dims as U.S., China Markets Slow
Consumers Find Auto Deals, Discounts Thing of Past
Legislative News
ADP Total Dealer Spend Analysis
Newtek Business Services - The Small Business Authority
Sprint - Samsung Epic
CALENDAR OF EVENTS

Sept. 12-14

Congressional Hispanic Caucus

Washington, D.C.

Sept. 15-18

Congressional Black Caucus

Washington, D.C.

Sept. 21-22

NADA Washington Conference

Washington, D.C.

Sept. 30 - Oct. 1

11th Automotive Summit

Rainbow PUSH Automotive

Detroit, MI

Jan. 9, 2011

15th Urban Wheel Awards

Detroit, Michigan


Click on the names below to learn more about the products and services offered by our valued vendor partners

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