Pub. 1 2012-2013 Issue 1

N E W J E R S E Y C O A L I T I O N O F A U T O M O T I V E R E T A I L E R S N E W J E R S E Y C O A L I T I O N O F A U T O M O T I V E R E T A I L E R S S P R I N G 2 0 1 2 12 13 new jersey auto retailer W W W . N J C A R . O R G new jersey auto retailer P: 215-355-8000 voynowbayard.com The Northbrook Corporate Center • 1210 Northbrook Dr, Suite 140 Trevose, PA 19053 ACCOUNTANTS & MANAGEMENT ADVISORS TO THE AUTOMOTIVE INDUSTRY SINCE 1954 VOYNOW, BAYARD,WHYTE & COMPANY, LLP CERTIFIED PUBLIC ACCOUNTANTS Financial Reporting & Projections/Forecasts n Internal Control Design n Employee Benefit Plans n Tax & Estate Planning Lifo Inventory Applications n Cash Management & Budgeting n Management Advisory Services n Performance Evaluation & Cost Analysis n Buy/Sell Agreements &Succession Planning n Mergers &Acquisition s n Personnel Evaluation&Compensation Planning STEERING YOU IN THE RIGHT DIRECTION. Voynow 1/2.indd 24 2/9/12 1:17 PM RIVERSIDE AUDI ~ INTERCAR PORSCHE AUDI VW ~ W & S JESS JONES AUDI HANDY VOLKSWAGEN ~ METROPOLITAN VW ~ PAUL MILLER LAND ROVER WAYNE BMW-MAZDA ~ WORLD DODGE ~ WINFIELD MOTORS DODGE MAPLEWOOD DODGE ~ SUBURBAN DODGE ~ AUTOFAIR CHRYSLER- PLYMOUTH, DODGE ~ NORTH HUDSON DODGE ~ ROYAL MOTORS DODGE CASLER DODGE ~ MICHAEL DODGE ~ SOUTH RIVER DODGE MT. HOLLY DODGE ~ BRICK CHURCH BUICK, GMC ~ FISHER NISSAN BUTLER NISSAN ~ BERGENFIELD NISSAN ~ EAST COAST NISSAN ELMWOOD PARK SUZUKI ~ LYNNES INFINITI ~ PARK AVENUE INFINITI DELUXE SALES AND SERVICE ~ BOB CIASULLI HYUNDAI FLEMINGTON HYUNDAI ~ HIGHPOINT CHEVROLET HYUNDAI HASBROUCK HEIGHTS CHEVROLET ~ WESTWOOD CHEVROLET H&S CHEVROLET ~ PHILLIPS CHEVROLET ~ MEADOWLANDSTOYOTAMAZDA CONDIT TOYOTA-FORD ~ STADIUM AUTO MALL FORD- CHRYSLER JEEP ~ TOWNE CHRYSLER JEEP ~ ELMWOOD FORD THE NEW MENDHAM FORD ~ KNECHEL FORD ~ CENTER FORD JEEP HONDA OF ESSEX ~ MONTCLAIR BLOOMFIELD FORD ~ TRADE ZONE SPORTS AND SPECIALTY CARS (SAAB) ~ O’BRIEN NISSAN D EALERSHIP B ROKERAGE ~ B USINESS V ALUATIONS ~ S INCE 1989 MORE DEALERSHIPS SOLD THAN ANY OTHER AUTOMOBILE DEALERSHIP BROKER IN NEW JERSEY N . J . D E A L E R S H I P S S O L D CONFIDENTIALITY ASSURED • LISTINGS NEEDED Dan Murphy: dan@dtmurphy.com 973.748.0093 www.dtmurphy.com dealer innovation A driving force for more than 50 years. Key AutoFinance is part of KeyCorp, one of the largest bank-holding companies in the United States. We’ve helped auto dealers succeed by providing competitive terms on inventory financing, plus other growth-oriented solutions. Learn more about how we can help you succeed in today’s competitive market. go to key.com/kafdealer call David Stevenson, 610-212-4276 Credit products are subject to credit approval. ©2010 KeyCorp. KeyBank is Member FDIC. Key.com is a federally registered service mark of KeyCorp. ADL1236 NADA Update Regulatory Affairs Defends Dealer- Assisted Financing The series of three Motor Vehicle Roundtables hosted by the Federal Trade Commission (FTC) around the country over the past year, wrapped up in April 2012. During that time period, the FTC heard verbal testimony and received nearly 100 written comments in which consumer advocacy group representa- tives, plaintiffs’ attorneys, state attorneys general officials and others alleged a series of practices by automobile dealers that harm consumers. The practices that they attacked were wide ranging but primarily focused on allegations of abuse surrounding spot delivery transactions and allegations of unfairness involving dealer participation earned in finance transactions. These attacks culminated with a joint letter from the attorneys general of 31 states and D.C. that urged the FTC to create rules and/or commence enforcement actions to protect consumers from the alleged dealer abuses. In response, NADA Regulatory Affairs coordinated the presence of dealers, ATAEs, dealer attorneys and other industry experts at each of the roundtables to rebut and correct numerous misstatements that were made against dealers. In addition, Regulatory Affairs stressed the anecdotal nature of the allegations and highlighted the consumer advocacy groups’ complete failure to produce credible data supporting their allegations despite repeated requests for such data from the FTC. Most importantly, Regulatory Affairs stressed the enormous benefits that dealer-assisted financing continuously provides to consumers of all credit tiers. NADA filed extensive comments with the FTC explaining why none of the allegations that were made against dealers during the roundtables’ process are ripe for consideration by the FTC as prac- tices that should be declared unfair or deceptive through the use of the agency’s extraordinary rulemaking authority. Regulatory Affairs explained that the FTC should address isolated problems that may arise through enhanced consumer education and the responsible use of its enforcement authority. The FTC has stated that it will now review all of the informa- tion that it collected during the roundtables to determine what, if any, steps it should initiate to protect consumers. Regulatory Affairs is actively monitoring this process. Week-Long Advanced Service, Parts Seminars Announced NADA U’s acclaimed Advanced Service Management seminar, led by NADA Academy instructor Bob Atwood, will be held at NADA’s McLean, Va., nada director’s message  continued from page 11 headquarters, August 13-17, 2012. The comprehensive agenda covers problem identification, situation assessment, personnel and produc- tion techniques, legal requirements, shop scheduling and loading, idea session and SWOT analysis and leadership techniques. This seminar will help attendees analyze their dealership’s performance and bring it to the next level. For more information or to register, call NADA U customer service at (800) 557-6232. The Advanced Parts Management seminar will be held at NADA’s McLean, Va., headquarters October 15-19, 2012. NADA Academy instructor Chris Bavis will help participants transform their parts department from the “black hole mystery” to the eye-popping profit center it can be. Each main topic encompasses a host of detailed sub- topics: perfecting the mix, profit centering, knowing the customer needs, personnel techniques, deep dive into the DMS, case study and SWOT analysis and best practices. To register, call NADA U Customer Service at (800) 557-6232. NADA Mobile App Surpasses 20,000 Downloads NADA’s mobile app, for iPhone and iPad users, achieved an important milestone recently, when it reached the 20,000 download mark. NADA’s Public Affairs Group provides timely news to the mobile app, including headlines, videos and events. NADA Headlines is the most popu- lar feature of the app. To download NADA’s mobile app on either Apple device, visit the iTunes App Store. All-Star or Rising Star, NADA U Wants Your Story Did an idea you picked up at Academy or 20 Group spur a change that fixed a problem or upped your bottom line? Did a webinar or workshop, Driven guide or online course help you improve your business operations? NADAUwants to hear you tell your “60-Second Success Story.” NADAU is looking for YouTube-quality videos with real-life examples. Visit www.NADAUAllStars.com to learn “how-to” and see examples frommanagers, dealers and staff. You can be an All- Star too!