Publication originally created at request of U.S. government

It's an institution almost as old as the organization itself, but the National Automobile Dealers Association announced Monday it was selling its NADA Used Car Guide business to J.D. Power, a division of the financial analytics company McGraw Hill Financial.

In a joint news release, the two organizations didn't disclose terms of the purchase other than to say the company that produces the guide would remain headquartered in McLean, Va. The guide has more than 100,000 subscribers, including retailers, financial institutions, insurers and software providers.

The NADA Used Car Guide brand will be retained "for a period of time" before transitioning to the J.D. Power brand, the two organizations said.

"This deal is a perfect fit for dealers and NADA Used Car Guide customers," said Peter Welch, president of NADA. "Under terms of the deal, NADA members will continue to receive a subscription to the guide as a membership benefit."

NADA Used Car Guide dates back to the Great Depression. The publication was created by NADA in 1933 at the request of the U.S. government, which believed the used car guides on the market at the time were biased and a neutral source of information was needed. http://bit.ly/1JhAoan

In modern times, the guide has faced increasing competition from the likes of Kelley Blue Book, Edmunds.com, Black Book and others, the industry news site Automotive News noted. NADA Used Car Guide has responded by adding new online and analytics tools to its offerings. http://bit.ly/1M86aFa

MORE CEO DATELINE

• National Association of Federal Credit Unions adopts streamlined mission
• D.C. fly-ins: PTs get hands-on with Congress, NAM summits, RV group makes camp
• CUNA sues Home Depot on data breach
• Proposed clean water rule leaves business groups steamed
• Associations abuzz over federal plan to protect bees