Pub. 16 2017-2018 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 9 new jersey auto retailer W W W . N J C A R . O R G A great number of dealers and lenders are adopting the optional Fair Credit Compliance Policy & Program. I urge all dealers in the Garden State to become familiar with this optional program. All three major credit application aggregators have licensed the use of the program to facilitate its implementation by dealers. NADA will continue working to preserve dealer-assisted financing and curb any negative impact from government regulations. NADA Represents You NADA works hard to protect the passionate and hard-working dealers across the nation because our work is never a singular endeavor. The Association is always open to dealer concerns, feedback, and ideas about the future. Speaking of the future, NADA commissioned a very important study, by Glenn Mercer, that examines what future dealerships will look like. The results contain very good news for the auto industry. You can read about that throughout much of this issue of New Jersey Auto Retailer. No matter the obstacles ahead, NADA will be the first line of defense for its members and the voice of franchised dealers across the country. The work we’ve accomplished together is the reason we’re poised to once again sell 17 million new vehicles in 2017! On behalf of your national association, I want to thank all of our new-car dealer members in New Jersey and especially those of you who actively contribute time, talent, and treasure to your dealer association and to the amazing grassroots network of NADA. I look forward to meeting the challenges with all of you! 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 There have been no hearings scheduled. And there has been no debate over specific provisions of a comprehensive tax reform package. Once legislation is drafted and introduced, dealers will need to demand answers regarding the impact of any proposal on vehicle affordability for consumers, as well as the broader implica- tions any other tax reform measures will have on our businesses. This is one of the reasons why I have stressed the need for more dealers to develop relationships with our elected officials, both in New Jersey and inWashington. It is critical that we seize on every opportunity to engage with our members of Congress, whether it be hosting them in our showrooms, attending a fundraising event, visiting their local offices or traveling to the nation’s Capital and meeting them in their Congressional offices. Already, several dealers have scheduled visits from their State Senators or Assemblypeople in the coming weeks. I want to thank those dealers for stepping up to engage with our legislators and encourage others to work with NJ CAR to coordinate meetings as well. I anticipate reporting on a long list of dealer meetings held over the Summer in my next Chairman’s column that will be published in the Fall. As Mark Scarpelli said in his statement, we must ask our elected officials to always “view policies through the lens of real customers spending real money.” The more our grassroots efforts focus on this message, the more likely the resulting policies will benefit consum- ers, as well as the local, State and national economies. CHAIRMAN’S MESSAGE  continued from page 6