TodayApril 16, 2022

Paul Taylor, NADA, on the bailout & dealerships

Washington, DC – Paul Taylor, chief economist, National Automobile Dealers Association (NADA), talked to Lou Ann Hammond, CEO, about the future of the auto industry.

Taylor talks about the $7.5 billion of the $700 billion that could be used for bad car loans.

Taylor says the most important element of all this is getting securitization back into the process. When credit becomes available, Taylor says, the economy will start growing again.

If the credit arms that have bad credit loans take any of the $700 billion bailout will the CEOs be limited to the maximum $500,000 salary that Congress put in the bill?

In 2006 over 200 dealerships went under, 2008 over 400 dealerships went under. Taylor tells us that NADA is forecasting 590 dealerships going under, but if this economy continues in a downward spiral how many could go under by the end of 2008?

Lou Ann Hammond

Lou Ann Hammond is the CEO of Carlist and Driving the Nation. She is the co-host of Real Wheels Washington Post carchat every Friday morning and is the Automotive, energy correspondent for The John Batchelor Show and a Contributor to Automotive Electronics magazine headquartered in Korea. Hammond is a founding member of the Women's World Car of the Year #WWCOTY, and board member of the Women in Automotive.