NADA's Dealer Attitude Survey is a confidential report card of sorts in which the dealers get to “grade” the automakers. It has evolved over the years to become more useful to both sides.
During the 2009-10 bankruptcy restructurings of General Motors and Chrysler Corp., the National Automobile Dealers Association's Dealer Attitude Survey should have been crucial. Instead, it was ignored.
I have been fortunate to work for more than 35 years in the U.S. auto industry, leading to my role today as partner with more than 1,500 U.S. Toyota and Lexus dealers. Just like on the football field, success in the auto business requires a commitment from all partners.
When President George W. Bush signed the Motor Vehicle Franchise Contract Arbitration Fairness Act into law in 2002 after years of legal wrangling, NADA called it “the biggest legislative victory for NADA in at least 50 years.”
The Consumer Financial Protection Bureau is reviewing draft rules that would limit mandatory binding arbitration in consumer finance contracts, and make it easier for consumers to file class-action suits against all kinds of creditors, including dealerships.