Our Sites

Auto dealers to urge Congress to support 'Main Street'

Annette Sykora, chairman of the National Automobile Dealers Association (NADA), will testify at a hearing at 10 a.m. today before the House Financial Services Committee on congressional efforts to help the financial stability of domestic automakers.

Sykora will give committee members a better sense of how the current difficulties in the auto industry play out on 'Main Street.' Her testimony will emphasize the important role that automotive retailing plays in the nation's economy. She will also stress that a financially sound dealer network is essential to the success of every automobile manufacturer, including automakers facing economic challenges.

House Financial Services Committee Chairman Barney Frank called the hearing on legislation to extend $25 billion in loans from the recently passed Troubled Asset Relief Program (TARP) to the help stabilize the American car industry.