Altering Key Aspects of the Agreement Could Impact Prices

Alexandria, VA (October 12) – The American International Automobile Dealers Association (AIADA) today expressed concern over the impact changes to the North American Free Trade Agreement (NAFTA) would likely have on the cost of vehicle prices.

AIADA President Cody Lusk issued the following statement:

"America's 9,600 international nameplate dealership franchises, and the 577,000 Americans they employ, are concerned about the prices their customers may be forced to pay if certain aspects of NAFTA are changed. In 2017, Edmunds predicts that the average vehicle transaction price will increase to an all-time high of $35,000. American consumers can't afford the additional costs that would come with disruptive changes to NAFTA.

"The auto industry is one of NAFTA's biggest success stories and helped international nameplate dealers – located in cities and towns across America – to sell 8.4 million vehicles to American consumers last year resulting in 59 percent of total U.S. retail vehicle sales. While NAFTA modernization is important, we urge caution in considering the jobs that might be lost and the prices American consumers may incur as the result of changes to key aspects of the agreement."

International nameplate dealers are a key part of America's auto industry, which has grown in the years since NAFTA took effect. They are located in every congressional district in the country and employ more than 577,000 Americans to the tune of a $32 billion total national payroll. Last year, they sold 8.4 million vehicles to American consumers – accounting for 59 percent of all U.S. retail vehicle sales. For more on the international nameplate auto industry in the U.S., visitAIADA.org/our-impact.

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About AIADA: Established in 1970, AIADA is and continues to be the only association whose sole purpose is to represent America's international nameplate automobile franchises that sell and service the following brands: Acura, Aston Martin, Audi, Bentley, BMW, Ferrari, Genesis, Honda, Hyundai, Infiniti, Jaguar, Kia, Land Rover, Lexus, Maserati, Mazda, Mercedes, MINI, Mitsubishi, Nissan, Porsche, Rolls Royce, Scion, Smart, Subaru, Toyota, Volkswagen, and Volvo. These retailers have a positive economic impact both nationally and in the local communities they serve, providing more than 500,000 American jobs. Visit AIADA online at www.aiada.org.