• December 12, 2008

The National Automobile Dealers Assocation Chairman Annette Sykora, owner of two multi-franchise dealerships in Texas, is the official voice of NADA with regard to Congress sinking the auto bailout.

Not surprisingly, her message is that dealers are disappointed. "We are encouraged, however, by today's statement from the White House that it will consider use of the TARP program 'to prevent a collapse of the troubled automakers."

She argues that failure of one of the Detroit automakers "would have a domino effect on dealers and suppliers. Bankruptcy would further threaten the availability of credit for dealers for consumer purchases and financing the vehicle inventory on their lots."

The NADA is urging all its dealer members to call the White House and urge funding of a bridge loan to GM and Chrysler.--Nina Lentini