Pub. 15 2016-2017 Issue 3

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 I S S U E N O . 4 , 2 0 1 6 10 new jersey auto retailer held accountable and compensate dealers for all costs associated with a safety recall. Failure to do so will result in major problems for consumers, dealers AND manufacturers. Consumers, in many cases, will be faced with driving potentially unsafe vehicles. They will also be negatively impacted by the diminished value of their trade-ins that are under recall and have not been fixed. A recent J.D. Power study found that if unrepaired recalled vehicles could not be sold or traded-in, their value fell an average of $1,210 per vehicle. In some cases, dealers may refuse a trade-in with an outstanding safety recall, which could cause a sale to fall through since most consumers trade-in their current vehicle when purchasing or leasing a new one. And let’s not forget the hit to the brand and industry-wide reputations when recalls are not handled properly. Dealerships are the face of a brand to many consumers. They stand ready to fix the manufacturers’ mistakes and deserve to be fairly compensated. PRESIDENT’S MESSAGE  continued from page 7 CHAIRMAN’S MESSAGE  continued from page 6 For many Legislators, Jim is the face of the auto retail industry in New Jersey. He represents us incredibly well, but the decision- makers need to see us too. Building individual relationships with our Legislators BEFOREwe need to call on them, is critical. Those relationships can open doors to conversations that need to be had on a whole laundry list of issues, both big and small. As contentious issues arise, having solid relationships with our elected leaders will go a long way toward establishing trust. Remember, if you don’t have a strong foundation, the house you build upon it won’t stand. I feel that, as dealers are exposed to these group legislative visits, it will serve as a springboard to more and more one-on-one visits with Legislators in our showrooms. Let our elected officials see us in our environment, interacting with our customers, and they will get a clearer understanding of just howmuch we bring to every community in which we operate. In the coming year, I look forward to working with Jim, the NJ CAR staff and dealers across New Jersey to identify the is- sues that concern our industry most. For some, it may be Zero Emission Vehicle mandates. For others it may be direct sales. It may be franchise issues, recalls, taxes, health care or any number of other issues that we deal with every day, while trying to keep our business running smoothly. Whatever the issue, working together and building lasting relationships with our Legislators at all levels will help us defend the franchised dealer model for selling motor vehicles. I encourage ALL dealers to get involved and stay informed. V O Y N OW B A Y A R D W H Y T E A N D C OM PA N Y , L L P C E R T I F I E D P U B L I C A C C O U N T A N T S V O Y N OW B A Y A R D W H Y T E A N D C OM PA N Y , L L P C E R T I F I E D P U B L I C A C C O U N T A N T S The Northbrook Corporate Center • 1210 Northbrook Dr., Suite 140, Trevose PA 19053 Contact Hugh Whyte, Randall E. Franzen or Kenneth Mann: Financial Reporting & Projections/Forecasts Lifo Inventory Applications n Tax & Estate Planning Cash Management & Budgeting n Performance Evaluation Cost Analysis n Buy/Sell Agreements & Succession Planning Mergers & Acquisition s n Internal Control Design 215-355-8000 n voynowbayard.com Accountants & Management Advisors to the Auto Industry since 1954