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TheStreet Open House

Used-Vehicle Prices To Increase In Aftermath Of Hurricane Sandy

NADA Donates $1 Million to Jump-Start Fundraising for Emergency Relief Following Hurricane Sandy

NADA has pledged $1 million to jump-start a national fund-raising campaign for the Emergency Relief Fund of the National Automobile Dealers Charitable Foundation.

"This is the time for dealers across the country to step up and help those in the Northeast most affected by Hurricane Sandy," said Bill Underriner, NADA chairman and a dealer from Montana.

The fund provides financial assistance to dealership employees affected by natural disasters.

"It's wonderful that NADA is leading by example," said Bob Mallon, chairman of the NADA Foundation. "We want to be in a strong position to provide timely assistance to dealership employees as they work through the long process of recovery. We now need to reach out to dealers everywhere to join in the relief campaign."

Damages are still being assessed in the parts of New York and New Jersey hit hardest by the hurricane.

"Widespread power outages and downed phone lines are hampering communications between dealers and their employees," said David Hyatt, NADA vice president of public affairs. "It will be a long time before we know the extent of the damages but from what we're hearing the impact on dealerships and their employees is expected to be severe."

The NADA Foundation is working closely with Mark Schienberg, president of the Greater New York Automobile Dealers Association, and Jim Appleton, president of the New Jersey Coalition of Automotive Retailers.

About the NADA Used Car Guide

Over a 79-year history, the NADA Used Car Guide has earned its reputation as the leading provider of accurate vehicle valuations and auction data. NADA offers a wide range of vehicle values, including those for used passenger car, light-duty and commercial truck, motorcycle, classic car and many more specialty vehicles. Available in a variety of delivery methods, NADA's products and services are used daily throughout the auto, finance, fleet-lease, government and insurance industries. For more information, visit www.nada.com/b2b. Follow the NADA Used Car Guide on Facebook.

The NADA Story

The NADA story began in 1917 when 30 auto dealers traveled to the nation's capital to convince Congress not to impose a luxury tax on the automobile. They successfully argued that the automobile is a necessity of American life, not a luxury. From that experience was born the National Automobile Dealers Association. Today, NADA represents nearly 16,000 new-car and -truck dealers, with 32,500 franchises, both domestic and international. For more information, visit www.nada.org. Follow NADA on Facebook and Twitter.

SOURCE National Automobile Dealers Association

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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