Contact: Libby Newman
NewmanL@aiada.org
(703) 519-7800
FOR IMMEDIATE RELEASE
August 27, 2018
AIADA Responds to NAFTA Progress
Alexandria, VA (August 27, 2018) – The American International Automobile Dealers Association (AIADA) today responded to an announcement that U.S. and Mexican officials renegotiating the North American Free Trade Agreement (NAFTA) have reached a framework agreement. AIADA’s dealers have benefitted from NAFTA, which has strengthened supply chains across North America, kept automobiles affordable for consumers, and helped generate a booming U.S. auto industry.
AIADA President and CEO Cody Lusk issued the following statement:
“While we are pleased to see progress in the ongoing NAFTA negotiations, as evidenced by today’s announcement that an understanding has been reached by the U.S. and Mexico, we look forward to seeing additional details on the framework agreement. We also remain very concerned about the threat of auto tariffs due to the Department of Commerce’s 232 investigation. We hope that the U.S., Mexico, and Canada can reach a trilateral agreement that modernizes NAFTA and retains its core purpose of removing barriers to trade between our three countries, which will allow the auto industry to continue to flourish in the United States.”
At 9,600 strong, international nameplate dealers are a key part of America’s auto industry, which has grown exponentially in the years since NAFTA took effect. They are located in nearly every community 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. The international auto industry has invested $75 billion in U.S. operations and more than doubled its production in the U.S. over the past 15 years. In 2016, 5.5 million vehicles were built by Americans at these factories. While most of these vehicles were sold to American consumers, 925,000 of them were exported to over 140 countries. For more on the international nameplate auto industry in the U.S., visit AIADA.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 in the United States: 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 over 577,000 American jobs. Visit AIADA online at www.aiada.org.
