On April 5th, UFA, the abbreviation for Unites States Federal Auto Motor Association, held a business meeting in New York City with their partners to discuss their future plans. The association has recently had a rough go of it financially, which has resulted in a current financial crisis. It is uncertain how long the problems within UFA will last. However, one thing is for certain. The problems are not going to be solved overnight.
Earlier in March, the association took a serious blow when it was forced to scrap a huge fleet of vehicles as a result of a contract dispute with a Russian government company. The UFA comprises some of the biggest car manufacturers in the world including Jaguar Land Rover, Citicorp, Honda, Toyota, Mazda, Hyundai and Nissan. These vehicles had been part of an American-owned fleet that was forced to close down due to lack of funds. The US Department of Transportation and the Federal Motor Carrier Safety Administration are investigating the cause of this problem.
As reported by The Wall Street Journal, the financial crisis facing the auto industry is the result of rising car prices. This in turn has resulted in lower profit margins, less cash available for dividend and share buy-backs and more inventory sitting on shelves. The result is less income from auto sales than expected. The financial crisis is likely to continue for quite a while longer. Therefore, if you own a UFA, you may find that its dividends and share sale prices have decreased as a result of the recession.
The first thing that most of us think of when we hear the term “uanafloor,” is the world famous U.S. based stock market stock, also known as NYSE. Unfortunately, it does not make much sense to sell U.S. based stocks for someone outside of the USA. NYSE is simply an exchange traded product (ETP) just like the major European markets and Asia-Pacific. It is impossible for a non-US citizen to trade or invest in these types of securities.
The second type of organization associated with UFA is the Vehicle Examiners Association (VAE). Most likely, if you visit a major American city, you will see a large number of VEA club houses and dealers. Most, if not all, VEA members have one common denominator: they all have a fleet of professionally trained, mechanically sound vehicles that they regularly inspect and repair on a regular basis. This is a tremendous asset to the car owner who wants to avoid having his or her vehicle repaired after an accident or collision.
Finally, there are online clubs that represent a unique hybrid between the above two organizations. These clubs often do not require that full members attend their meetings in person. Instead, all Internet members are required to log in at certain times throughout the day and to check their car’s VIN reports by logging in at the appropriate URL. Once this is done, a list of all cars that are owned and/or leased by Internet members is generated. VEA members who own vehicles that meet a specific age requirement (e.g., 55 or older) can also take advantage of reduced VIN costs by upgrading their automobiles to meet the Society for Automotive Quality Control (SAQC) requirements.