NADA Notes MESSAGE FROM NADA DIRECTOR STEVE MIDDLEBROOKS NADA DIRECTOR NADA SHOW 2024 Registration is OPEN for the 2024 NADA Show, February 1-4 in Las Vegas! The NADA Show offers more than 90 educational workshops, the NADA Expo which features more than 500 exhibitors and countless networking opportunities. Main Stage speakers include TV personality Jon Taffer, racing legend Danica Patrick, former NFL quarterback Kurt Warner, NADA Chairman Geoffrey Pohanka and NADA Vice Chairman Gary Gilchrist. Don’t miss the biggest and most diverse event in the industry! To learn more and register, visit www.nada.org/nada-show. CAPITOL HILL UPDATE The NADA team continues to work on several key dealer issues: (1) challenging the ill-advised and unsubstantiated proposed FTC Vehicle Shopping Rule, (2) pursuing LIFO relief and (3) combating catalytic converter theft. Below is the background and status of these efforts: Proposed FTC Vehicle Shopping Rule Last July, the Federal Trade Commission (FTC) proposed a “Vehicle Shopping Rule” that would overwhelm car buyers and small businesses with additional paperwork and needlessly lengthen the sales process. The rule was proposed without credible analysis or the necessary time for public comment. While the FTC estimated the rule would save consumers money, a comprehensive study by the Center for Automotive Research found that the 10-year cost of the rule to consumers would be over $38 billion. On July 13, 2023, the House Appropriations Committee reported out the Fiscal Year 2024 Financial Services and General Government (FSGG) appropriations bill (H.R. 4664) which included language that stops the FTC from finalizing, implementing or enforcing the “Vehicle Shopping Rule.” The companion Senate THE GENERATOR 18
RkJQdWJsaXNoZXIy MTg3NDExNQ==