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How Many Used Vehicles With Open Recalls is Your Dealership Being Forced to Hold in Inventory?
NYSADA would like to get an estimate of how many used vehicles each dealership is being forced to hold in their inventory and pay for due to an open recall. The vehicles in question could be stop-sale vehicles or vehicles that your manufacturer has forced your dealership to hold onto or suffer the consequences. An example of this would be that GM is instructing their dealers that they are not allowed to sell a used 2013 Chevrolet Equinox that has an open recall due to the windshield wiper motor. However, the Ford dealership down the street could take the same vehicle in trade and turn around and sell it the same day. NYSADA is trying to identify the depth of this problem.

Currently, there is no law that requires manufacturers to pay dealers for used vehicles that have open recalls and can’t be sold due to manufacturer restrictions. There is a federal requirement that manufacturers must pay their dealers 1% of the value of a new vehicle per month with an open recall. Of course, federal law does not allow a new vehicle with an open recall to be sold until the open recall is repaired. To help the Association understand how large the used vehicle problem is, we have enclosed in this edition of The News a short dealer survey that allows dealerships to list the number of vehicles that they have that fall under this category. Please take the time to fill out this survey and fax it back to the Association at (518) 432-1309 or email it to ed@nysada.com
U.S. Vehicle Sales Hit New Record In 2016
U. S. light-vehicle sales, led by generous incentives, strong light-truck demand and solid gains at several manufacturers in December, hit a record high of nearly 17.54 million vehicles in 2016. These results just edged out the previous record (set in 2015), by 0.3%. It was the seventh straight year of sales gains. Pent-up demand, more leasing, favorable finance deals, steady job growth, growing consumer confidence and low gas prices have driven new-vehicle sales since the Great Recession. In the State of New York there were $968,527 in sales for the year, which puts it amongst the best years ever

Automakers and dealers used heavy promotions and generous deals to lure consumers into showrooms in the final weeks of 2016. Analysts estimate that average incentives on new vehicles spiked 20% to $3,673 last month, compared with December 2015.
 
Light trucks, led by crossovers, continued to drive the market and accounted for a record 60.7% of all light-vehicle deliveries in 2016. For the year, car demand dropped 8.9%, while light-truck deliveries increased 7.4%. But analysts warn that rising interest rates and a peaking retail market will force automakers to cut production this year.
NYSADA News
SIF/Safety Group 430 Premium Audit Process Update; New Exit Interview Format: Webinar Available
Created by NYSADA Staff in 2/2/2017 11:18:23 AM

The New York State Insurance Fund, partnering with Safety Group 430, presented a webinar introducin... Read More..


GIT Releases Qtr 2 2017 Medical Rates
Created by NYSADA Staff in 2/2/2017 11:20:20 AM

The Group Insurance Trust (“GIT”) has released second quarter medical and high deductible rates for... Read More..


OSHA Reporting and Recording Requirements: Webinar
Created by NYSADA Staff in 2/2/2017 11:32:16 AM

On Thursday, January 26th, 2017 Safety Group 430 and its Workers Compensation Insurance partner, Th... Read More..


2017 Top Legal Trends
Created by NYSADA Staff in 2/2/2017 11:36:35 AM

Eric Chase Of Bressler, Amery, & Ross - Member Of Our Legal Hotline Included in this edition of The... Read More..


The Hidden Dangers In Unemployment For Auto Dealers
Created by NYSADA Staff in 2/2/2017 11:41:36 AM

- Dunn Corporate Resources, Affiliate Member We’re all familiar with processing unemployment claims... Read More..


NADA President Peter Welch Discusses Impact of Unfair Incentive Programs
Created by NYSADA Staff in 2/2/2017 11:43:55 AM

NADA President and CEO Peter Welch, speaking recently at the Automotive News World Congress in Detr... Read More..


New Buyer’s Guide Information
Created by NYSADA Staff in 2/2/2017 11:47:28 AM

NADA recently notified dealers about the Federal Trade Commission’s amendments to the FTC Used Car ... Read More..


Political Action Strategy - Your NYSADA at Work
Created by NYSADA Staff in 2/2/2017 11:53:32 AM

Every member of NYSADA has an important voice in Albany. When issues arise that affect your livelih... Read More..


Governor Proposes Title Fee Increase
Created by NYSADA Staff in 2/2/2017 11:55:51 AM

Recently, the Governor proposed his Fiscal year 2017 budget. The proposed budget, including all fun... Read More..


Chairman Jeff Haraden Assigns Committees for 2017
Created by NYSADA Staff in 2/2/2017 12:06:54 PM

Operations/Convention Jeff Haraden, Chairman Bruce Bendell Ken Miller Legislative and Governmental ... Read More..


U.S. Vehicle Sales Hit New Record In 2016
Created by NYSADA Staff in 2/2/2017 12:13:05 PM

U. S. light-vehicle sales, led by generous incentives, strong light-truck demand and solid gains at... Read More..


Cadillac Dealers Express Concern Over New BOOK Program
Created by NYSADA Staff in 2/2/2017 12:17:58 PM

NYSADA has been contacted by a number of Cadillac member dealers who have expressed concern over GM... Read More..


How Many Used Vehicles with Open Recalls is Your Dealership Being Forced to Hold in Inventory?
Created by NYSADA Staff in 2/2/2017 12:21:28 PM

NYSADA would like to get an estimate of how many used vehicles each dealership is being forced to h... Read More..


2017 Legislative Priorities
Created by NYSADA Staff in 2/2/2017 12:23:38 PM

The 2017 legislative session promises to be a busy one for NYSADA. The Association has been working... Read More..


More

Mon, 20 Feb 2017 05:01:00 -0500

To earn the EPA's rare 50-plus highway fuel economy rating for the 2018 Cruze diesel sedan, Chevrolet engineers didn't just drop in a fuel-efficient engine and transmission and call it done.

Mon, 20 Feb 2017 05:01:00 -0500

Suppliers don't know what impact trade rule changes will bring - but they are thinking about alternatives.

Mon, 20 Feb 2017 05:01:00 -0500

Several states are considering legislation that could exclude technology companies from operating self-driving vehicles within their borders.

Mon, 20 Feb 2017 05:01:00 -0500

RFJ Auto Partners will begin to expand its Hassle Free Buying strategy, a form of one-price selling, to all of its stores starting this year. It currently uses the model at its high-volume Dave Smith dealerships.

Mon, 20 Feb 2017 05:01:00 -0500

Ontario Minister of Economic Development Brad Duguid said Canada is 'fortunate' to begin a NAFTA dialogue with the Trump administration 'from a position of absolute strength.'

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