Dear Member Dealer:
I’m writing this on the heels of two pretty significant
1. The end of the 2016 Colorado General Assembly
2. The first-ever UMB-CADA Economic Outlook Dinner
I also have some information to share with you regarding two other items you’ll be interested in:
1. The roll-out of the updated Colorado Dealer Compliance Guide
2. The CADA Annual Member Golf Event
To quote Tim Jackson, “We have a win when there is no harm done!” Among the high points in this year’s legislative session for new car dealers dealers were (a) retaining the ban on Sunday sales, and (b) making tax credits for alternative-fuel vehicles applicable at the time of sale. These both will provide meaningful benefits to our operations. Tim is already looking forward to the next session because there are a number of planned franchise law changes in the offing, as well as a Sunset Review of the Motor Vehicle Dealer Board.
UMB-CADA Economic Outlook Dinner
If you weren’t able to join us this past Thursday night, March 12, at the William D. Barrow Building, you did indeed miss receiving some interesting and provocative information. NADA’s Chief Economist Steven Szakaly joined us from Washington, D.C. to co-present with UMB Bank’s Executive VP and Chief Investment Officer K.C. Matthews.
Steve Szakaly provided his perspective on where auto sales are headed for the rest of the year and beyond. As you undoubtedly have heard, March 2016’s SAAR light-vehicle sales dropped off from last year at this time. On one hand, there’s the already-forecast end of pent-up demand, and the average longer buying cycle both of which are having an impact. Balancing those factors are persistently low interest rates and a strong labor market. Szakaly talked about the positive impact that incentives likely will have on sales. Based on these competing influences, and anticipating continuing strong industry incentives, Szakaly predicts ongoing strong sales, probably in the 17.7 million-vehicle range for 2016.
Meanwhile, K.C. Matthews said he expects overall economic growth to continue at a slow and steady pace. Consumer confidence continues to be high and the housing market is strong in Colorado, which bolsters that confidence. On the other hand, he sees the possibility of an economic contraction based on U.S. manufacturing data. He cautioned that we should keep an eye on China and other global markets because they will have an effect on what happens here and on a micro level, on our businesses.
Updated Colorado Dealer Compliance Guide
CADA is rolling out the first full update of our Colorado Dealer Compliance Guide, first issued in 2011. Available by mid-June, this is an exceptionally useful volume that has been prepared by CADA’s Vice President Tammi McCoy along with Michael Dommermuth of Fairfield and Woods, PC. They pull together in one volume what you, as a dealer, need to know and understand in every key area of state compliance – so you can stay in compliance and off the Auto Industry Division’s (AID) radar.
According to Tammi, this new CADA Dealer Compliance Guide is “an invaluable resource,” containing some key changes and developments in several areas including:
- Advertising rules
- Delivery & Handling enforcement
- Sales and use tax resources
- Emission exemptions and testing
- Vehicle history disclosures
- Spot delivery/ standard disclosures
Virtually all sections will have some changes. This 2016 release will come complete with a new binder. As CADA did back in 2011, we will release the new guide along with educational seminars covering the highlights of the most recent developments about state compliance issues. The educational seminars are scheduled to take place in several locations throughout the state:
- Glenwood Springs – Tuesday, June 14, 7:30-10 a.m. (breakfast included)
- Grand Junction – Tuesday, June 14, Noon-2:30 p.m. (lunch included)
- Loveland – Wednesday, June 22, 7:30-10 a.m. (breakfast included)
- Denver – Wednesday, June 22, Noon-2:30 p.m. (lunch included)
- Colorado Springs – Thursday, June 23, 7:30-10 a.m. (breakfast included)
- Pueblo – Thursday, June 23, Noon-2:30 p.m. (lunch included)
The cost for the 2016 CADA Dealer Compliance Guide in a three-ring binder is $199. The cost of the seminar is $179 for the first person; additional training for members of the same dealership is $149 per person. You can get more information and order your guide online at http://www.colorado.auto/publications.php or by calling CADA at 303.831.1722.
And now for the fun stuff!
CADA Annual Member Golf Event
Mark your calendars now for August 29th at 1:30 p.m. We’re getting the event together at the U.S. Air Force Academy’s Eisenhower Golf Club for member dealers and industry colleagues to play the links, compete for some prizes, enjoy some food and drink and the opportunity to talk with one another and compare notes.
If you’ve never had the opportunity to play the Blue Course at Eisenhower Golf Club, you’re in for a real treat. It is an 18-hole Robert Trent Jones, Sr.-designed course that has the magnificent Rampart Range as its backdrop. GolfAdvisor.com calls it “the cream of the military crop” because it is widely considered to be the best course operated by the U.S. Department of Defense.
Our CADA Annual Member Golf Event is always a lot of fun and I’m particularly excited that we’re hosting it in Colorado Springs for the first time! CADA’s Polly Penna is working on sponsorships now. If you’d like to sponsor the event or any part of it – or know someone who would – please contact her at email@example.com or 303.831.1722.
I hope to see you on August 29th or sooner.
Fletcher Flower, Chairman
Colorado Automobile Dealers Association