January 2014 Newsletter

Greetings!

We hope that you have had a good sales month so far this year. In an effort to provide you with more relevant information, we have shortened some of the articles and added a “Read More” tag. So, please let us know what you think.

Also, we have included three questions for you; please take the time to respond. Just “click” in the designated area and send us an email. Thanks!

It is our pleasure to serve the largest minority dealer line group in the automotive industry.

Sincerely,
Ford MDA Staff
(248) 557-2500

Ford MDA Board of Directors for 2014 Officers Board Members

Officers
Fernando H. Varela – Chairman
All Star Ford
Fred J. Salinas – Secretary & National Dealer Council Representative
Friendly Ford of Crosby, Crosby, TX
Randy Henderson – Treasurer
Henderson Family Ford, Webster, NY
Eddie Corley, Jr.
Past Chairman

Staff

Executive Director
Dr. AV Fleming

Consultant
Osvaldo Garcia, Jr.

Executive Assistant
Dee Suber

Board Members

Joe Chastang
Chastang Ford, Houston, TX

Mark Douglas
Avis Ford, Southfield, MI

Sil Gonzales
Gresham Ford, Gresham, OR Eddie Corley, Jr.

Michael Martin
Vision Ford Lincoln, Alamogordo, NM

Nathaniel Sutton
Sutton Ford Superstore, Matteson, IL

Ford Motor Credit – 2014 Marketing Funds

2014 Minority Dealer Marketing Funds

Ford Credit’s Minority Dealer Relations department for many years has been supporting our association(s) by providing support funds.

  • These funds are designed to help the dealership sell vehicles or improve performance through marketing, incentive and training programs.
  • Additionally, they can be used to move out old inventory by providing a dollar amount per vehicle when the vehicle is financed by Ford Credit.
  • This is a first come first serve program and its funds are capped

If you would like to take advantage of this program, contact your local Ford Credit representative. And do it soon before the funds are exhausted..

NAMAD 2014 Annual Membership Dues

The Ford MDA Board has approved payment for your 2014 NAMAD Membership Dues. If you own multiple dealerships, payment will only be made for one (1) dealership.

Therefore, please disregard any invoice(s) you receive from NAMAD, unless you are paying for additional stores.

Let Us Know…

Dear Members,

1. Are you planning on attending the Ford MDA 2nd Annual Conference this year?
2. What would you like to hear from Ford MDA or Ford Motor Company?
3. What type of workshops or presentations are you interested in?

Please respond by sending us a quick email: Click here.

ADP – Kathy Gilbert

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DealerTrack – Ernest Lattimer

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DealerTrack – Ernest Lattimer

FTC INDICATES THAT IT WILL ACTIVELY ENFORCE DEALER ADVERTISING VIOLATIONS IN 2014

By Randy Henrick

On January 9, 2014, the FTC announced its “Operation Steer Clear,” which consisted of a series of 10 enforcement actions against 10 different dealers for deceptive auto advertising. Nine of the dealers entered into 20-year consent decrees, any violation of which will result in penalties of $16,000 per violation (per day) and one dealer from Massachusetts is litigating an enforcement action with the FTC. The dealers settling with the FTC are from California, Georgia, Illinois, North Carolina, Michigan and Texas. This is very significant. By settling, if for example a dealer ran a deceptive ad for 10 days any time between now and 2034, they could incur a fine of $160,000. Read more…

Edward Jones Investments – Weekly Market Update

Weekly Market Update (January 27 – 31, 2014)

The Weekly Market Update is published every Friday Edward Jones does not provide access to past weekly summaries.

Our Views

Stocks and interest rates dropped while volatility rose as ongoing emerging-market worries outweighed a positive report on the U.S. economy. The market has spoiled investors with strong gains lately – a 32% return last year and up 70% since the last 10% correction in 2011 – and very little volatility along the way. Given this extended period, the recent return of market volatility and the prospects of a pullback have been met with heightened attention and investor concern. The S&P 500 has fallen just 3.6% from its all-time high in mid-January. In our view, a well-defined investment strategy and the proper perspective means market uncertainty can be viewed as an opportunity. It gives long-term investors the chance to capitalize on their advantage of time and discipline.

The Stock & Bond Market Led by the drop in energy and consumer staples sectors, stocks moved lower on the week. The Dow Jones Industrial Average fell 180 points to end the week at 15,699, down 1.1%. The S&P 500 declined 8 points, or 0.4%, to end at 1,783. Bond prices rose on the week, pushing the U.S. 10-year Treasury bond yield down 0.06% to end at 2.65%. Read more…

A Word from the Executive Director

Greetings members and supporters,

In 2013 the retail automotive businesses was very profitable for the majority of automobile dealers. The Ford dealer network did exceptionally well among the U.S. dealer body. Further, many of the meetings the association attended with Ford senior management told our members that the minority dealers outperformed the majority dealers. From all indication, it appears that 2014 will be a strong year for retail automobile sales. One reputable source has predicted that the SARS for 2014 will be 16.3 million vehicles. Further, manufacturers are prepared to meet the increase in demand.

Your association is poised to bring you the very best in services that our association can provide in 2014. We will continue to reach out to our members for ideas and suggestions for what is needed to improve sales profits in your stores. We will continue to research products and services, along with critiquing the information and providing you with our results. We anticipate our efforts will save you time and money. We wish you all the best in 2014.

A.V. Fleming
Executive Director