Pub. 12 2022 Issue 2

Catalytic converter thefts present a growing problem for dealers and their customers. In 2021, the National Crime
Bureau estimated that more than 52,000 catalytic converters
were reported as stolen, compared with 1,300 in 2018. That’s 40 times as many converters, and it doesn’t include the
number of catalytic converters thefts that went unreported. If the repair cost is the size of someone’s deductible, they
may not report the theft to the police or the insurance company since they will have to pay the money either way. Filing a report creates the possibility of increased insurance premiums; not filing maintains the status quo.

As of July 1, certain customers who purchase fully electric vehicles can apply to the Illinois Environmental Protection
Agency (IEPA) for a $4,000 rebate ($1,500 for electric motorcycles). The rebate is not “cash on the hood” like a
manufacturer rebate and some customers will not qualify for the rebate, so here is what dealers need to know.

The Illinois Automobile Dealers Association (IADA) expanded its relationship with ComplyNet by announcing ComplyNet as IADA’s endorsed provider for solutions to help IADA’s dealers safeguard customer information. Earlier this year, IADA endorsed ComplyNet as IADA’s endorsed provider for environmental, health, and safety (EHS) compliance and risk mitigation solutions.

IADA is as strong as our members, you! Thanks for your participation in our Association Programs, especially
IADA-CVR, which allow us to achieve so many of these accomplishments for you.

A business succession plan is important to help ensure a smooth transition when you are no longer able to run your
business. Many business owners think about what they would like to happen to their business but fail to actually
put a succession plan in place.

The key to advancing consumer adoption of electric vehicles (EVs) is a strong partnership of vehicle manufacturers and retailers with a wide and competitive distribution network, which will help drive vehicle affordability and consumer demand. Based on the
states’ interest to protect consumers, preserve price competition, support local jobs and provide local and state tax revenue, states have held the right to license and regulate the distribution, sale and service of vehicles within their state, including EVs. During consideration of legislation that would promote deployment of electric vehicles, Congress must preserve the states’ traditional role to license and regulate vehicle commerce, provide
consumer protections and promote vehicle price competition within its borders.

The Illinois Automobile Dealers Association is an organization of 700 franchised new car and truck dealers
representing 2,000 franchises. IADA was founded in 1920 with the purpose of promoting an ethical, favorable business climate, and to serve the common needs of its members through services, education, and representation.

As auto dealers have likely been made aware through recent news sources, such as Automotive News, and various other automotive industry trade publications, last fall the federal Trade Commission (“FTC”) finalized its
amendments to the 2001 Safeguards
Rule under the Gramm–Leach–Bliley
Act (“GLB”). These rule changes followed a prolonged regulatory process that sought to strengthen security for consumer financial information in the wake of the increased incidence of data breaches.

Currently, a lot of your competitors
are complacent, selling only the
inventory that comes to them. Not
driving orders. Not aggressively
buying used cars. They stopped all
branding advertising and maybe all
their advertising completely. Their
outsized grosses and record profits
have literally made them fat, happy
and complacent.

Sean Grant, IADA’s current chair, is a second-generation dealer and IADA member.