Industry News

From Today’s NADA headlines

TIME and Ally Financial Honor New-Car Dealers

Forty-nine new-car dealers have been nominated for the 2017 TIME Dealer of the Year award, which is now in its 48th year.
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Ford 3Q Earnings Tumble from Year Ago to $1B

Ford Motor Co.’s third-quarter earnings fell nearly 55 percent to $1 billion, as the automaker said Thursday the reduction was driven by recall costs, reduced dealer inventory and changes in the mix of the F-150 in North America.
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Volkswagen Raises Earnings Outlook as It Returns to Profit

Volkswagen raised its sales and earnings outlook Thursday after bouncing back to a profit of $2.55 billion in the third quarter from a large loss a year earlier, when it took a big charge from its car emissions scandal.
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New NADA Study: Employee Wages Rise at New-Car Dealerships

The average annual compensation for employees at new-car dealerships working in all positions was $69,718 in 2015, an increase of 1% from the previous year, according to NADA's 2016 Dealership Workforce Study. Average weekly earnings across all dealership positions were $1,341 in 2015, a 1.4% increase. Millennials now account for 42% of the dealership workforce.  

Note: Dealerships that participated in the study receive the Trends report as well as customized reports. Non-participants can purchase it by calling 800.557.6232. Read more 

NADA Updates Guidance on Wage and Hour Law

The new Dealer Guide to Federal Wage and Hour, Child Labor and Wage Discrimination Compliance (L01) is now available on NADA University Online (username and password are required). It provides franchised automobile and commercial truck dealerships an overview of the federal law on wage and hour, child labor and wage discrimination, along with dealership-specific suggestions for compliance. The guide is available at no charge to NADA and ATD members and for a nominal charge to nonmembers. Log in and download the report 

Updated Guide on OSHA HazCom Standard Released

NADA has updated its dealer guide to the Occupational Safety and Health Administration's (OSHA) Hazard Communication (HazCom) Standard, which requires auto dealerships to provide chemical hazard information to employees who could be exposed to workplace chemical hazards (e.g., service, body and parts personnel).

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