A lobbying group and industry association that represents 10,000 U.S. auto dealerships that sell foreign nameplate vehicles has elected an East Hartford auto dealer as its 2015 chairman.
The American International Automobile Dealers Association said Bradley Hoffman, co-chair of Hoffman Auto Group, will lead its efforts this year. Hoffman Auto has 11 dealerships in East Hartford, Avon, Canton, West Simsbury and New London that sell a mix of Audis, Hondas, Toyotas, Porsches and other makes. The dealerships employ more than 500 workers, AIADA said.
Hoffman said in a statement that the AIADA will push for Congress to reauthorize trade promotion authority, which would allow President Barack Obama to negotiate international trade agreements, the terms of which Congress could either approve or deny, but not amend.TPA last expired in 2007.
AIDA said it’s also concerned about recent actions by the U.S. Consumer Financial Protection Bureau.
“This will be a year of ensuring that dealers’ rights are respected by the Consumer Financial Protection Bureau,” Hoffman said in a statement.
According to industry news source WardsAuto, CFPB wants to change the way dealers are compensated for setting up customer financing with third-party lenders.
CFPB prefers a flat fee for such services, rather than tacking on points to the interest rate, WardsAuto said, because the agency contends that the current structure hurts minority borrowers.
