Greetings!
Welcome to the latest installment of IADA's e-news, containing timely updates, information, announcements and reminders. We welcome your suggestions and contributions. For further information and updates regarding the Idaho Automobile Dealers Association please visit our website at www.idahoada.org.
Thank you,
IADA Staff- |
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IDAHO VEHICLE REPORT SERVICE
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4/28/2009 - 4/30/2009: FREE IVRS Educational Webinars.
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IVRS solutions leverage the power and flexibility of the Internet to deliver instant access to critical information and data.
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ECONOMY WATCH
NADA Urges Obama Administration to Increase Auto Credit Flow to Consumers and Dealers Immediately.
NADA is encouraged by President Obama's commitment to putting the domestic auto industry back on the road to recovery but continues to urge the administration to focus immediately on correcting the dysfunctional credit markets.
Click here for the full press release.
IMPORTANT DOCUMENTS:
CLICK HERE for a summary of Vehicle Tax Deductions for New Car Purchasers.
CLICK HERE for an overview of the major tax provisions for your review and dealership business.
Advertising: A note of caution on advertising: dealerships are prohibited under Idaho law from advertising that they will pay any tax on behalf of consumers.
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AUTOMOTIVE NEWS AT A GLANCE
Listed here are several articles pertaining to the auto industry that appeared recently in newspapers and other media outlets across the nation.
IADA forwards news articles and opinion columns of interest through THE TRAFFIC REPORT to inform members of current events. These in no way reflect the views, opinions, and/or positions of IADA or its member dealers. They are sent for informational and educational purposes only. |
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LEGISLATIVE UPDATES
IDAHO LEGISLATURE
2009 Legislation of Interest that the IADA is following during this legislative session.
TRANSPORTATION FUNDING
House passes GARVEE, 39-29
The House has voted 39-29 on SB 1186, the Senate-passed bill to issue $82 million in highway bonds next year, passing the bill and sending it to the governor. The vote came after a long debate dominated by the bill's opponents. House Transportation Chairwoman JoAn Wood, R-Rigby, was among those who spoke out against the bonding bill.
CLICK HERE for a full report of the transportation plan.
FRANCHISE TERMINATION BILL
CLICK HERE to read IADA legislation to strengthen your Franchise Termination Laws in Idaho! (HB 217)
HB 217 has been signed into law and is effective as of 04/09/09.
Thank you to those who call and contacted their legislators to support this important piece of franchise legislation!
The purpose of this legislation is to provide fair and reasonable compensation by the manufacturer upon the termination, cancellation, nonrenewable or discontinuance of any franchise and to provide a time frame for reimbursement of such compensation.
SERVICE CONTRACT ADVERTISING LANGUAGE
to read IADA's legislation to further protect consumers from predatory advertising practices for extended warranty's and service contracts. (HB 187)
HB 187 has been cleared by the Senate Transportation Committee and is no awaiting discussion and vote by the full Senate. Currently there have been numerous proposed amendments that may cause this legislation to take longer than expected. IADA's goal is to keep our proposed bill as intact as originally hoped for.
The purpose of this legislation is to require that all service contract/extended warranty solicitations from 3rd party vendors include advertising disclosure language. This mandatory language with be tied to the consumer protection act and is exempt for licensed Idaho dealers and manufacturers. It is our hope that this legislation will diminish the amount of consumer complaints that dealers receive from these type of advertising practices.
NEIGHBORHOOD ELECTRIC VEHICLES
HB 241 for Neighborhood electric vehicles before the governor for signature. HB 241 will increase speed limit roads for NEV's up to 35 mph, instead of the current 25 mph. They could also cross roads that have speed limits of up to 45 mph, instead of the current 25 mph. "The city of Pocatello has purchased two of these vehicles," Rep. Ken Andrus, R-Lava Hot Springs, told the House. The city wants to use one around its sewage treatment pond and the other for meter reading. But nearby roads have higher speed limits. Andrus said the vehicles can go up to 60 mph, but are chip-limited by their manufacturer to travel at a top speed of 35 mph. "They are titled, they are registered, they have license plates, they are insured," he said, and called them "more energy-efficient and environmentally friendly vehicles."
REDISTRICTING LEGISLATION
Redistricting bill passes Senate, 30-5
The Senate has voted 30-5 to pass SB 1184, the redistricting legislation sponsored by Senate President Pro-Tem Bob Geddes, R-Soda Springs. Idaho's legislative districts used to be redrawn by lawmakers themselves; voters approved a constitutional amendment in 1994 to instead hand the job to an appointed citizen commission. |
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Vehicle Maintenance Checklist from Zurich
Our IADA partner, Zurich, reminds dealers that spring vehicle maintenance means two things for your business: MONEY and SAFETY. Please click below to view a valuable Loss Prevention flyer on Vehicle Maintenance:
http://www.idahoada.org/Zurich/zurichmaintenance.pdf
SBA Loan Program Targets Auto Dealers
The Small Business Administration recently launched a new Motor Vehicle Loan Guaranty Program. Dealerships with total annual receipts of less than $29 million are eligible for the SBA guaranteed loans. The loans may be used for nearly any "worthwhile purpose," including working capital or refinancing of existing debts. Financing a change in ownership is also permissible under the program if the purpose of the sale is to preserve the dealership or promote its development. One big exception is that the SBA loans cannot be used for inventory floor planning.
Record-Setting Incentives Reported
The average automotive manufacturer incentive in the U.S. was $3,169 per vehicle sold in March 2009, up $171 or 5.7 percent, from February 2009, and up $733 or 30.1 percent, from March 2008, reports automotive research firm Edmunds.com. This is the highest industry average on record. The previous record was set September 2004 when zero percent financing was extremely popular and drove the average incentive spend to $3,146 per vehicle sold.
According to Edmunds.com, combined incentives spending for domestic manufacturers averaged $4,505 per vehicle sold in March 2009, up from $4,134 in February 2009. From February 2009 to March 2009, European automakers increased incentives spending by $326 to $3,398 per vehicle sold; Japanese automakers decreased incentives spending by $58 to $1,628 per vehicle sold; and Korean automakers increased incentives spending by $360 to $3,572 per vehicle sold.
Resources to Remind Your Customers it's a Great Time to Buy a Car!
As part of a national ad campaign promoting the Best Time to Buy a new car or truck, NADA has created a series of ads for newspapers, radio, TV/cable and the web. Media outlets all over the country have published or aired the ads - at no charge - as a show of support for the auto industry and its essential place in our economy. These ads are very positive, and designed to help restore consumer confidence by emphasizing the availability of financing, incentives, energy efficiency, and great products. Contact your ad reps to see if they can help you place one or more of these ads for free. Just send them the following link to download the TV/cable, radio or print versions of the ads.
CLICK HERE
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REGULATORY UPDATES
Employers Must Use Revised Form I-9
U.S. Citizenship and Immigration Services (USCIS) has issued a reminder that the revised Form I-9, Employment Eligibility Verification (Rev. 02/02/09), went into effect April 3, 2009 for all U.S. employers. The revision date is printed on the lower right-hand corner of the form. Employers may no longer use previous versions of the Form I-9. Also, expired documents are no longer acceptable forms of identification or employment authorization. For more information, visit www.uscis.gov and click Form I-9 on the sidebar.
Red Flags Rule Effective May 1
Effective May 1, 2009, dealers and other creditors should have developed and implemented a written identity theft prevention program (ITPP). That's when the Federal Trade Commission will begin enforcing the Red Flags rule.
All NADA members have received a copy of A Dealer Guide to the Red Flags and Address Discrepancy Rules; Protecting against Identity Theft. It includes various ITPP templates. These templates as well as worksheets are also available electronically at no charge to NADA members. These include risk assessments, sample clauses for service provider agreements, and a sample compliance document. To obtain these, e-mail NADA Management Education at me@nada.org. Use the subject line "ITPP Template," and include your name, title, dealership address, and NADA member ID number.
For more information on the NADA Guide, CLICK HERE:
To access NADA's virtual seminar, Complying with the New FTC Red Flags Rule,
CLICK HERE: (available through 5/31/09)
For a video, titled "Identity Theft," CLICK HERE: | |
LET US KNOW ABOUT YOUR ACCOMPLISHMENTS!
Have you or anyone else at your dealership won an award recently? Has your dealership provided any outstanding community service? We want to recognize such accomplishments. Please send us a brief write-up of the award or event along with any other information to info@idahoada.org. Also include your contact information for further follow-up.
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Mission statement: The Idaho Automobile Dealers Association was formed in 1932 to represent interests of new vehicle dealers in the state. Our goal then and now has been to improve, enhance, and grow the automobile industry in Idaho. By advocating and providing programs, products and services for new car dealers, we want to create a stable and healthy retail market for Idaho's businesses and consumers.
Sincerely,
Trent Wright
Idaho Automobile Dealers Association |
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Generously Underwritten by:
IADA's First Choice in P & C Insurance!
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IADA
2009 Joint State Convention
June 23rd - 26th Missoula, Montana
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