This time of year is an excellent opportunity to look back over the past months and give thanks for our blessings and for the challenges that hopefully taught us valuable lessons. And if all goes to plan, we can use those lessons moving forward.
I want to thank our sponsors and the members who attended our 95th Annual Convention in Turtle Bay, North Shore Hawaii. We had a great time catching up and discussing important industry issues. I offer my sincere thanks to Brad Strong of the Strong Automotive Group for serving as the 2023 NCDU President. I am looking forward to working with John Miller, owner of Mark Miller Toyota, as he starts his term as the 2024 NCDU President.
2023 has had its challenges, but the New Car Dealers of Utah faced them head-on. I am so proud of the way our dealers have dealt with regulatory changes and found solutions to issues that have presented themselves in this volatile economy.
The FTC Safeguards Rule has now been in effect for almost seven months. We, as an industry, have successfully addressed this regulation change. There have also been recent updates to the 1-9 Forms. Please make sure you are informed of this — we are highlighting the changes in this issue.
Currently, our industry is faced with the changes that the new FTC Vehicle Shopping Rule will undoubtedly bring. Experts have voiced concerns that this rule will inject large amounts of time, cost and complexity into the vehicle sales process. This undermines industry efforts to streamline and improve customer experiences.
On Oct. 4, 2023, Sen. Maron (R-KS) and Sen. Manchin (D-WV) introduced the FTC REDO Act. This bill would stop the proposed rule, which many believe is rushed and has taken an irresponsible approach. NADA expects this legislation to be introduced in the House and is expecting bipartisan support to address this concerning issue.
Additionally, topics like LIFO Relief, electrification of the market and catalytic convertor theft are being addressed by leaders in Washington, D.C., with input from NADA. Your voice is important in these conversations as well. I encourage you to reach out to the NCDU and your local representatives and engage in the critical conversations that need to be had.
As you well know, 2024 is a big election year. It is more important than ever that we elect leaders that will support our industry. Taking time to do research on the candidates and ask thoughtful questions is more imperative than ever.
With everything I have mentioned above and many other challenges I haven’t covered in this message, sometimes work, and even life, can seem overwhelming if we let it. When facing change, I think that Margaret J. Wheatley said it best: “In these troubled, uncertain times, we don’t need more command and control; we need better means to engage everyone’s intelligence in solving challenges and crises as they arise.” And that is where you, the NCDU members, have always stepped up and risen to the challenge. Thank you for all that you do to keep our association and industry strong.
As always, don’t hesitate to reach out to me with questions, concerns or just to share a great idea. I hope you and yours have a happy holiday season and a wonderful new year!
Warmest regards,
Craig
