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NADA

NADA Used Car Guide Heads to J.D. Power

June 1, 2015 by admin 1 Comment

A renowned publication is expected to move from NADA to J.D. Power early in the second half of 2015. The NADA Used Car Guide is the oldest and most prestigious resource for used vehicle valuation on the market.

There is a very good chance that if you ever wanted to find the value of a used vehicle, you turned to the NADA Used Car Guide. That guide, developed by the National Automobile Dealers Association (NADA), has served dealers and consumers for 82 years.

Indeed, the NADA Used Car Guide remains the leading source for vehicle valuation, although Kelley Blue Book and Edmunds.com are among the other sources to consider. Late last month, J.D. Power, a global marketing information services company, announced an agreement with NADA to acquire the guide.

NADA Used Car Guide

Nada Used Car GuideFollowing legal review, the deal is expected to close within the July to September timeframe. Notably, the company plans to retain its McLean, Virginia, headquarters from which it services more than 100,000 customers, including insurers, financial institutions, retailers and software providers.

The NADA Used Car Guide will be compartmentalized within J.D. Power’s Power Information Network or PIN. Power is owned by McGraw Hill Financial, a financial intelligence company. Additionally, McGraw Hill owns Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, and CRISIL.

“J.D. Power has built its strong brand through analytics, data and its growing benchmark business. Benchmarks are a key to the McGraw Hill Financial business model and the NADA Used Car Guide adds a unique set of valuations, which are used as benchmarks by customers, to the well-respected J.D. Power portfolio,” said Douglas L. Peterson, president and chief executive officer of McGraw Hill Financial. “We see clear opportunities for both revenue and cost synergies as J.D. Power couples NADA Used Car Guide with the real-time automotive capabilities of the Power Information Network® (PIN) to bring value to a broad set of customers. This is another example of McGraw Hill Financial utilizing an attractive tuck-in acquisition to expand the capabilities of the company’s iconic businesses.”

Full Access for NADA Members

Peter Welch, president of NADA, reassured NADA members that they would continue to have access to the Guide as part of their membership benefit. “NADA and J.D. Power will continue to build upon our longstanding alliance by sharing data and insights, and bringing together retailers and leaders from the automakers, suppliers and the media at co-hosted conferences and events, offering thought leadership and solutions directly benefiting the retailer network and overall automotive industry.”

With the NADA Used Car Guide part of PIN, NADA’s customers will have seamless access to new- and used-vehicle prices with information supplied by both companies under the J.D. Power umbrella. Initially, the NADA Used Car Guide name will be retained, then transition to a new name under the J.D. Power brand.

NADA Used Car Guide Origins

For its part, the NADA Used Car Guide has transitioned from exclusively a print publication to mostly an online resource. The Guide was launched in 1922, just five years after the National Automobile Dealers Association was founded, according to NADA’s website.

That year, 30 auto dealers traveled to the District of Columbia to urge Congress not to levy a luxury tax on automobiles, successfully arguing that cars were a necessity, not a luxury. The Guide itself was founded in response to the federal government’s request that NADA study used-car values.

Collaboration and Synergies

NADA and J.D. Power intend to collaborate in a number of areas and will co-host conferences and events to reach retailers, automotive industry manufacturers and suppliers, as well as the media.

See Also — NADA, EPA Craft Energy Partnership

Filed Under: Automotive News Tagged With: CONGRESS, GUIDE, J.D. POWER, MCGRAW HILL FINANCIAL, NADA, NADA USED CAR GUIDE, NATIONAL AUTOMOBILE DEALERS ASSOCIATION, POWER INFORMATION NETWORK, USED CAR PRICES

NADA, EPA Craft Energy Partnership

February 5, 2013 by admin Leave a Comment

Announced at the Washington Auto Show.

The US Environmental Protection Agency has been overseeing federal policy on energy use, pollution and like matters for four decades. One of its most significant achievements in the past year was to lay out a framework to help Americas automotive fleet average 54.5 mpg by 2025. It also works with the US Department of Energy to advance an ENERGY STAR program, representing a way to help consumers and businesses reduce their energy costs through the purchase of more efficient products including appliances.

Energy Ally Program

ENERGY STAR will soon find its way into the new car dealership, thanks to a partnership announced by the National Automotive Dealers Association and the EPA at the 2013 Washington Auto Show. A new Energy Ally program is being established, one where both NADA and the EPA are encouraging car dealers to complete a short survey that will enable the agency to develop a benchmark to help dealers. Those that excel in their conservative use of energy will receive EPA certification.

NADAThe survey asks participating dealers to provide the EPA data based on 2012 energy use. That information is based on the square footage of various parts of the dealership including the showroom and parking areas, the types of energy needed to heat and cool the facility, equipment found on the premises including lifts, computers and refrigeration, and information derived from last years energy bills.

500 Dealerships Needed

Explained Don Chalmers, chairman of NADAs Government Relations Committee, NADAs ultimate goal is to help dealers learn ways to save energy and reduce their costs. Before we can begin the Energy Star certification process, we need to benchmark the energy usage of at least 500 dealerships.

To help dealers assembly the required information, the association will award a NADA Energy Ally designation to businesses that assist at least five dealerships compete the survey. Those businesses may include energy management firms as well as accounting and consulting enterprises. With such a designation, NADA will allow these firms to market their services to other dealers. More information about the partnership can be found on NADAs website.

2013 NADA Convention

Beginning this Friday and running through next Monday, the NADA Convention and Expo will be held in Orlando, Fla. Vendors that offer energy saving products such as motion detectors, heaters, cooling devices and special lighting options will have their products on display at the show. Such products can help dealers find cost effective ways to reduce their energy consumption, perhaps qualifying them for Energy Ally recognition.


See Also — NADA Used Car Guide Heads to J.D. Power

Source: National Automobile Dealers Association

Filed Under: Automotive News Tagged With: ENERGY ALLY, ENERGY CONSUMPTION, ENERGY STAR, EPA, NADA, WASHINGTON AUTO SHOW

Why Your Used Car Is Worth Less (And What You Can Do About It)

July 1, 2012 by admin Leave a Comment

Sell your car and still come out ahead.

2014 Toyota Corolla

If you’re planning to sell your car either to a private party or to trade it in to a dealer for a new car, then you may have discovered that its value has slipped in recent months. Besides being a few months older and with more miles on the odometer, there are some good reasons why your cars valuable has been slipping. Well tackle those issues here and help you get more for your car when you’re ready to make a sale.

1. Lower gas rates equals falling prices for economical cars. In recent years as gas prices have risen so has the value of fuel efficient small cars. Earlier this year, gas prices topped $4 per gallon across much of the nation, pulling up used car prices with it. As gas prices fall as they are doing in summer 2012, used car values are also falling. This is one area of car pricing you have little control over, but take heart if you own a luxury car as scant supplies of these vehicles has been driving up prices according to the National Automobile Dealers Association and its Used Car Guides.

2. Make mention of a warranty. Later model used cars often come with a new vehicle warranty, one that may not have expired yet. Check your warranty and if it is fully transferrable to a new owner, make note of that when you advertise your car for sale. Even older models from Kia and Hyundai may still be covered, given that both companies offer a 10-year/100,000-mile powertrain warranty. An available warranty adds values to a car.

3. Get it ready to show. You can make up for the dropping value of used cars, by ensuring that your vehicle is in tip-top shape and looks great. Any maintenance issues should be resolved before you put your vehicle on the market. You’ll also want to wash and wax it, detailing it by using an old toothbrush to lift crud from cracks, a soft brush on the wheels to remove brake dust and pay particular attention to hazed-out headlamps. Providing similar attention to the interior can make your car look great and fetch you more when you’re ready to sell it.

4. Sell it privately. It takes more work and preparation to sell a used car privately, but you stand to make much more money on a private sale than through a trade-in. Your car dealer may be willing to take your old car off of your hands, but that comes with a price reduced profits fro you. Dealers will sometimes inflate the price of your trade-in to make it look as if youre getting a good deal, but youll pay in some other way such as receiving less of a discount for your new car.

5 Advertise it effectively. These days, you don’t have to take out an expensive newspaper advertisement to market your car. Indeed, word of mouth advertising can help you sell your car, perhaps to someone you know. Start with the people nearest and dearest to you and tell them that your car is for sale. Ask them to help spread the word, providing contact information and car details on a flyer or through an email message to help your market your car. Beyond the people you know, online ads through services such as MSN Autos, AOL and Edmunds.com can also attract buyers according to Consumer Reports.

Private Sale

Ultimately, the value of your used car doesn’t always coincide with what a buyer may be willing to pay for it. A few percentage point drop in car values can be made up if your car is in good running condition, looks great and is a model that is in high demand. Negotiate wisely and you’ll come out ahead in a private party car sale.


See Also — 8 Reasons to Avoid a Particular Used Car

Filed Under: Special Tagged With: ADVERTISING, detailing, NADA, USED CARS, WARRANTY

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