In 2016, NADA fought CFPB overreach, CAFE challenges
2016 NADA Chairman Jeff Carlson spoke at the Conventionês opening session about NADAês effort last year to defend vehicle buyer rights to discounted loans by preserving dealer-assisted financing. That was the ultimate aim of fighting against federal regulatory overreach by the Consumer Financial Protection Bureau (CFPB).
Just like in 1917, when the government tried to impose a luxury tax on cars, we stood up for our customers, Carlson said. Itês 2017 and weêve successfully fought off the governmentês effort to end loan discounts for vehicle buyers.
Carlson cited other successes NADA had last year in educating legislators and the public on the negative impact of grounding all cars with open recalls and showing that competition among dealerships saves consumers an average of $500 per new car. But he stressed that NADA, its dealer members and other stakeholders, will face more significant challenges going forward.
We and our OEM partners are facing some very big CAFE challenges, so we need to tell Washington to keep vehicles affordable for our customers.Download Bulletin PDF