Industry News

From Today’s NADA headlines

Volkswagen's $14.7 Billion Buyback Deal on Emissions Scandal Approved

Dealerships can now begin working with U.S. consumers to buy back the vehicles, which include Jettas, Golfs, Passats, Beetles and Audi A3s dating back to model year 2009.
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Federal Judge Approves FTC Order for Owners of Certain Volkswagen and Audi 'Clean' Diesels to Receive Compensation

A federal district court judge in San Francisco on Oct. 25 signed a $10 billion settlement order, starting the formal process for owners of certain Volkswagen and Audi 2.0 liter diesel cars to receive compensation for the vehicles they bought.
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GM Earns a Record $2.8B in Third Quarter, Led by Higher Prices in U.S.

General Motors earned $2.8 billion in the third-quarter, exceeding Wall Street estimates and doubling the year-earlier profit, but still saw its shares sink as investors remain convinced that new vehicle sales in North America have nowhere to go but down.
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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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