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  • Friday, September 27, 2024 9:00 AM | Anonymous member (Administrator)

    For any electric vehicle owner that would like a passenger license plate on their vehicle there will be an addition $100 surcharge on the registration.

    Fees

    Random-Number License Plate Fees

    Newly acquired vehicle/first-time issuance - $316 ($165 title fee + $151 registration fee)

    Currently titled vehicle/first-time issuance - $151 registration fee

    Current plates expire within 90 days - $180

    For more information, contact Joey White at Vitu.

  • Friday, September 27, 2024 9:00 AM | Anonymous member (Administrator)

    On September 23, NADA Dealer Stellantis Representatives, NADA Executives, NADA’s Industry Relations team and members of the Stellantis National Dealer Council met with Carlos Zarlenga, Stellantis NA COO, and other key executives to share the results of the NADA Summer Dealer Attitude Survey and discuss dealer dissatisfaction that was made public in recent weeks. 

    Key issues were market share loss, rising inventories, dealer profitability, product quality and product pricing. Executive departures and multiple rounds of layoffs were also cited as contributing to dealer dissatisfaction. Dealers recommended the brand take bold and immediate action, simplify operations, and communicate a plan for future success.

    Mr. Zarlenga listened carefully as the dealers in attendance fleshed out aspects of each concern.  He responded that current issues had developed over time and have had long term impacts. He said the brand could not ask for blind trust from dealers and must earn trust back over time.  

    What’s Next: Dealers asked for Stellantis to share a plan that will result in an improved partnership and offer hope and assurances for the future. NADA will continue to support the actions of the Stellantis dealer council and monitor dealer feedback for reactions to Stellantis’ marketplace actions. NADA will directly re-engage with Stellantis as required. 

  • Friday, September 27, 2024 9:00 AM | Anonymous member (Administrator)

    Compliance Alert: What Dealerships Need to Know About Corporate Transparency Act Reporting Requirements

    [From NADA] Under the Corporate Transparency Act (CTA), which went into effect on January 1, 2024, many business owners are required to file corporate transparency reports with beneficial ownership information (BOI) no later than January 1, 2025.

    The CTA reporting mandates are designed to bolster transparency and combat financial crimes. Those who fail to meet this deadline could face up to two years imprisonment and fines up to $10,000, in addition to civil penalties of up to $591 per day.

    Who needs to file:The CTA’s reporting requirements apply to “reporting companies,” which includes corporations, limited liability companies and any other entities created by the filing of a document with a secretary of state or any similar office in the U.S.

    • Filing exemptions: There are 23 categories of entities specifically exempted from the reporting requirements, including a “large operating company” exemption. A “large operating company” is an entity that (1) employs more than 20 full-time employees in the United States, (2) has an operating presence at a physical office within the United States, and (3) has filed a federal income tax or information return in the United States for the previous year demonstrating more than $5 million in gross receipts or sales.
    • Applicability to dealerships: It is likely that dealerships are exempt from the rule under the “large operating company” exemption and not required to file. However, separate corporations or limited liability companies associated with a dealership (i.e., a real estate holding company) may be required to file. Dealerships should work with an attorney or accountant familiar with their business and business structure to determine if an exemption applies and whether to file.
    • What information must be reported: A reporting company must disclose certain information about the reporting company itself, its beneficial owners and, for reporting companies formed on or after January 1, 2024, a maximum of two company applicants.”
    • How to file: Reporting companies must report beneficial ownership information electronically through FinCEN's website.

    Important deadlines: 

    • Businesses subject to the CTA and formed or registered in the U.S. before January 1, 2024, must file its initial BOI report no later than January 1, 2025.
    • Businesses subject to the CTA and formed or registered in the U.S. on or after January 1, 2024, and before January 1, 2025, must file its initial BOI report within 90 calendar days of its formation or registration becoming effective.
    • An entity subject to the CTA and formed or registered to do business in the U.S. on or after January 1, 2025, must file its initial BOI report within 30 days of its formation or registration becoming effective.

    To learn more about this reporting requirement, NADA is hosting a webinar on October 31 at 1:00 p.m. Stay tuned for more information. In the meantime, please also see the resources below.  

  • Friday, September 27, 2024 9:00 AM | Anonymous member (Administrator)

    Northwoods University is encouraging dealers to consider nominating a deserving dealer principal for a Dealer Education Award. The award recognizes individuals who have made significant contributions to automotive marketing education over several years.

    Key points to consider when submitting a nomination:

    • Commitment to educating future automotive professionals
    • Consistent delivery of high-quality training and mentorship
    • Lifetime of outstanding contributions to automotive and dealership educatio.
    • The nomination deadline is October 11, 2024. Nominations can be submitted via this link: www.northwood.edu/forms/dea.

    The awards breakfast will be held during the NADA Convention in New Orleans on Saturday, January 25, 2025, from 6:45 a.m. to 8:15 a.m. at the Hilton New Orleans Riverside.

  • Friday, September 27, 2024 9:00 AM | Anonymous member (Administrator)

    As the year draws to a close, the CATA is happy to provide a list of dealership specific records retention rules. This list is provided by CATA Allied Member Woodward & Associates. Woodward proudly serves more than 300 new car dealers across the Midwest. For more information, please contact Scott Woodward at with any questions.

    Click HERE to download the Records Retention Rules list.

  • Friday, September 27, 2024 9:00 AM | Anonymous member (Administrator)

    Thanks to the CATA’s partnership with Dynatron, DriveChicago.com is now driving service traffic to CATA dealers. DriveChicago.com recently added a NHTSA Recall Search tool that allows site visitors to check for open recalls on their vehicles. If a vehicle has a recall, then the site visitor is presented with direct links to CATA Dealer member service departments to book appointments.

    For CATA dealers, staying ahead of vehicle recalls can be challenging. Dynatron has solutions to keep dealers informed and proactive. Its MarketSmart Recall program uses the latest data to help dealerships connect with customers and turn recalls into revenue. Dynatron's data-driven approach ensures you're not just reacting to recalls but turning them into opportunities.

    Don’t let outdated OEM programs hold you back—learn how we can drive more traffic to your service bays! Explore our full article to see how Dynatron can help you streamline recall processes and boost profitability.

  • Friday, September 13, 2024 9:00 AM | Anonymous member (Administrator)

    The Chicago Automobile Trade Association will host the third annual Chicago Drives Electric EV education and test drive event on Oct. 3-6 at CATA HQ in Oakbrook Terrace. Dealers are invited to attend a morning session on Thursday, Oct. 3 from 8 a.m. - 12 p.m. This exclusive event will provide CATA Dealer members one-on-one time with the latest EVs to gather driving impressions, create content, vehicle education and more. Below is the schedule for the morning.

    Participating manufacturers for the media day include Audi, BMW, Cadillac, Chevrolet, Fiat, Ford, GMC, Hyundai, Kia, Nissan, Toyota and Volvo. You can find a full list of vehicles here.

    Thursday, Oct. 3

    • 7:30 a.m. – Media registration opens
    • 8:00 a.m. – Networking & Continental Breakfast
    • 8:30-9:00 a.m. – Get to Know the 2024 Dodge Charger Daytona Scat Pack
    • 9:00-9:15 a.m. – EVs at the Dealership, “Where today’s car shoppers and dealers stand on electrification” presented by CDK Global
    • 9:15-10:15 a.m. – The Current State of EVs Panel Discussion & Q&A (Presented by CDK Global)
    • 10:15-10:30 a.m. – ComEd News Conference & Presentation
    • 10:30 a.m.-12:00 p.m. – EV Test Drives & Content Creation
    • 12:00 p.m. – Boxed Lunch & Presentation by Cars.com

    Register NOW for this free event.

  • Friday, September 13, 2024 9:00 AM | Anonymous member (Administrator)

    [From NADA] NADA released its updated edition of A Dealer Guide to Federal Email and Telemarketing Restrictions. This guide updates and replaces the former Dealer Guide to Telemarketing Restrictions and has been expanded to include not only telephone marketing restrictions, but email, text message and fax restrictions as well.

    This guide provides an overview of the key federal laws and regulations governing telephone, email, text message and fax communications, and provides compliance guidance to dealers. Compliance can be complicated, requiring careful consideration of context, recordkeeping, technology and communication methods. The guide focuses on four key federal statutes:

    • The Telephone Consumer Protection Act (TCPA) as amended by the Telephone Robocall Abuse Criminal Enforcement and Deterrence (TRACED) Act.
    • Telemarketing and Consumer Fraud and Abuse Prevention Act of 1994 (Telemarketing Act) and its implementing regulation, the Telemarketing Sales Rule (TSR).
    • Controlling the Assault of Non-Solicited Pornography and Marketing Act (CAN-SPAM Act).
    • Junk Fax Prevention Act (JFPA).

    The Driven Guide, which was prepared with attorney Michele Shuster, Mac Murray & Shuster LLP, also provides FAQ documents and sample policies for dealerships’ use.

    NADA will be conducting a webinar on the Driven Guide on Oct. 10. Please stay tuned for details and registration information.

  • Friday, September 13, 2024 9:00 AM | Anonymous member (Administrator)

    A federal government program designed to help certain demographics find employment offers a tax credit to employers. The program incentivizes hiring certain veterans, recipients of supplemental security income benefits, formerly incarcerated, summer youth employees and vocational rehabilitation referrals. For more information, watch this informational video

  • Friday, September 13, 2024 9:00 AM | Anonymous member (Administrator)

    [From Cox Automotive]

    New Light-Vehicle Sales

    • August saw a notable increase in new light-vehicle sales, marking a significant month-over-month improvement.
    • New light-vehicle sales were up 7.6% year-over-year in August.
    • By volume, new-vehicle sales were up 11.2% month-over-month to the highest volume since March.
    • The August SAAR (seasonally adjusted annual rate) was 15.1 million, down 1.1% from last year and 4.5% from July.

    Fleet Sales

    • Sales into fleet categories experienced a decline, contrasting with the overall market trends.
    • Sales into large rental, commercial, and government fleets were down 21.4% year-over-year.
    • Retail sales were estimated to be up 7.6% from last year, with an estimated retail SAAR of 12.7 million.

    Vehicle Pricing

    • Vehicle pricing trends in August reveal shifts in transaction prices, manufacturer’s suggested retail price (MSRP), and manufacturer incentives. [Check back in the Newsroom tomorrow for the Kelley Blue Book average transaction price report.]
    • The average transaction price of a new vehicle in August declined 0.6% from July to $47,870.
    • The average price relative to the average MSRP was steady at 96.9%.
    • The average incentive spend from manufacturers increased 1.9% in August to $3,447, up 46% year over year.

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