The 2008 financial crisis was a period that everyone who was in the auto industry at the time would just as soon forget.
The folks at NADA remember it like it was yesterday.
Amid a meltdown of the credit markets and the seemingly impending collapse of General Motors and Chrysler, NADA worked with bankers, legislators and federal policymakers to shape the response to the biggest U.S. financial crisis since the Great Depression on behalf of auto dealers.
The broad effort included initiatives to help businesses fight through the crisis, persuade policymakers to include dealers in federal assistance programs, and build support for the taxpayer-funded rescues of GM and Chrysler. Not all efforts were successful, but NADA used all of the tools in its toolbox to try to bring stability to auto retailers amid the tumult.
"I really do think this period from 2008 through 2009 was NADA's finest hour," said Andy Koblenz, NADA's head of regulatory and legal affairs. "We were met with an unprecedented challenge."