NADA predicts healthy sales volumes coupled with healthy transaction prices and profitability will persist as the industry shows strong resilience amid disruption.
Paul Walser, NADA's 2021 Chariman, recently released a message to the association's members.
As Paul Walser steps into the role of chairman of National Automobile Dealers Association, the Minnesota dealer will aid members in ushering in a new era of auto retail and overcoming the challenges presented over the course of 2020.
For 2020, NADA expects that new light-vehicle sales will total 14.2 million units. There may be some regional ups and downs in sales as the country deals with spikes in COVID-19 cases throughout the winter months.
On October 20, the National Automobile Dealers Association (NADA) made several leadership announcements for 2021.
NADA issued its analysis of U.S. auto sales and the economy following the third quarter of 2020.
August’s SAAR of 15.2 million units marked a 4.8% increase from July’s SAAR of 14.5 million units but is down 11% compared with August 2019.
The Department of the Treasury issued guidance on the Aug. 8, 2020 Presidential Executive Order that defers an employer’s obligation to withhold, deposit, and pay the employee’s portion of the payroll tax on wages earned between Sept. 1, 2020 and Dec. 31, 2020.
During this quarter, retail sales recovered much more quickly than fleet sales from the effects of the COVID-19 pandemic.
NADA Show 2021 will be more important than ever, as we face ongoing challenges and navigate a new era of business for dealers.