RVIA Economic Impact Study

The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.

Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .

House Bill Set to Reform Vehicle Dealer Financing

Fri Jul 1, 2016

An important number that the nation’s auto dealers should know is 2663. NADA’s battle to tame the Consumer Financial Protection Bureau continues and Senate bill S. 2663 is the next chapter. This bill, entitled, “Reforming CFPB Indirect Auto Financing Guidance Act,” is identical to last year’s House bill — H.R. 1737 —which passed the House with a resounding, veto-proof majority vote of 332-96, including 88 Democrats.

The National Automobile Dealers Association commends Sen. Jerry Moran (R-Kan.) for introducing this critical legislation this past March. Democrats and Republicans from both sides of the aisle have recognized a simple truth: Every consumer deserves access to competitive financing and great rates when they buy a new car or truck.

America’s franchised auto dealers strongly support S. 2663, and businesses that make, sell, service, auction and finance vehicles have also joined in this support. Practically the entire auto industry is united on this issue. Like H.R. 1737, the bill would rescind the CFPB’s flawed auto finance guidance and make the bureau more transparent and accountable when issuing future guidance. The bill calls for a public comment period, coordination with regulatory agencies that possess authority over dealers and a study of the impact of the guidance on small businesses and, most importantly, consumers.

Additional Information: http://www.autoremarketing.com/subprime/nada-chairman-dealers-rally-behind-senate-bill-%E2%80%98tame%E2%80%99-cfpb