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At a Glance...
Top Stories
Cars are Getting More Reliable, J.D. Power Study Shows
GM Agrees to Lend Delphi $300 Million More
GM Presses Ad Agencies on Costs
Weak U.S. Truck Sales Hurt Toyota Net
Chrysler's Car Plans in Question
Europe's Luxury Car Makers Feel Pain
NADA Update
Registration for the NADA Convention in New Orleans is off to a Strong Start
Convention Workshop Recordings Now Available at Discounted Cost
STAR Answers Dealers' Questions About Dealership Data Security
Lenovo PCs Power Beijing 2008 Olympic Games
Top Stories
Cars are Getting More Reliable, J.D. Power Study Shows

DETROIT — Compact and midsize cars are showing gains in long-term quality, says J.D. Power, which is good news for drivers looking to downsize into more fuel-efficient vehicles. Power's Vehicle Dependability Study, out Thursday, shows that long-term quality is up 5% industrywide. Improvements in small and compact cars made up more than half of the gains.
Source:  USA TODAY

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GM Agrees to Lend Delphi $300 Million More

General Motors Corp. agreed to lend Delphi Corp. a further $300 million as the automaker's former parts unit struggles to exit bankruptcy protection, courts papers show. Delphi, in court papers filed Wednesday, said GM would increase its loan to the auto parts supplier to $950 million from $650 million so Delphi can maintain a minimum level of liquidity. Delphi, which filed for bankruptcy protection in October 2005, had entered the final stages of exiting bankruptcy in April when Appaloosa and other investors pulled out of a plan that would have provided up to $2.55 billion to support Delphi's reorganization.
Source:  Reuters

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GM Presses Ad Agencies on Costs

As Suffering Detroit Looks for Savings, Local Media Are Feeling the Pinch, Too
In its latest attempt to save money, General Motors has asked its advertising agencies to slash their fees by as much as 20% this year and next, according to several people familiar with the matter. Several ad executives familiar with GM say he cuts could translate into more than $20 million in total savings for General Motors, but likely will mean layoffs for the agencies involved. GM's push shows how Detroit's pain -- caused by a sharp drop in U.S. car sales due to soaring gas prices -- is creating ripples in other sectors.
Source: The Wall Street Journal (Subscription required.)

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Weak U.S. Truck Sales Hurt Toyota Net

Strong Yen, Higher Costs also Pull Down Profit; Forecast Is Reduced
TOKYO -- Slumping U.S. sales of pickup trucks and sport-utility vehicles contributed to a 28% drop in Toyota Motor Corp.'s net profit for its fiscal first quarter, even as demand soared for its more fuel-efficient models. Income for Japan's No. 1 auto maker by sales volume was also battered by a stronger yen ... as well as higher material costs and losses from vehicle leasing in the U.S. Toyota also is feeling the pinch from its decision to sink $1 billion into a new plant in Texas to produce the Tundra full-size pickup truck. As sales slip in the U.S., Toyota Executive Vice President Mitsuo Kinoshita said it would be difficult for the auto maker to reach its target of selling 10.4 million vehicles annually by 2009.
Source:  The Wall Street Journal (Subscription required.)

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Chrysler's Car Plans in Question

Doubts prompted by reports of Nissan and Chrysler in talks to produce midsize car
Reports that Chrysler LLC and Nissan Motor Co. are in discussions to jointly produce midsize cars raise questions about the future of Chrysler's car lineup. If the Auburn Hills automaker is turning to Nissan for help, progress may have slowed or hit a snag in Chrysler's effort to redevelop its midsize cars, analysts said Thursday. That initiative, dubbed Project D, involves a special team of top engineers and designers charged with developing replacements for the Chrysler Sebring and Dodge Avenger sedans. "Down the road, Chrysler could become a company that produces trucks and minivans and then largely sells others' cars," said Aaron Bragman, auto analyst at Global Insight Inc.
Source:  The Detroit News

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Europe's Luxury Car Makers Feel Pain

The shift among consumers to smaller, more fuel-efficient cars has spread to Europe's premium auto makers... "There appears to be a trend toward smaller engines and smaller cars which makes it difficult to sustain profitability at current levels," says Adam Jonas, pan-European auto analyst at Morgan Stanley. Daimler Chief Executive Dieter Zetsche hinted last month that the company may launch some versions of the next-generation A-class and B-class compact cars in the U.S., expanding availability of Daimler's smaller cars. Last week, BMW CEO Norbert Reithofer said the company had canceled plans to produce an X7 SUV, in response to changing customer demands.
Source:  The Wall Street Journal (Subscription required.)

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NADA Update
Registration for the NADA Convention in New Orleans is off to a Strong Start

 

Registration for the 2009 NADA Convention & Exposition in New Orleans Jan. 24-27 opened only a week ago and already three hotels are sold out and sales of exhibition space are strong. "We're very pleased," says Steve Pitt, vice president of NADA conventions. "This is a nice, strong start for the convention." Since Katrina, more than $1 billion has been invested in hotel renovations. More restaurants (913) are open in the city today than before Katrina, and the French Quarter is cleaner than ever. "The heart and the core of New Orleans ... looks better than it did before the storm," says Stephen Perry, president and CEO, New Orleans Convention and Visitors Bureau.

Hotel reservations are going fast. Be sure to take a moment now to register by clicking here.

 Click here for the video that shows just how much progress New Orleans has made since Katrina.

[Editor's Note: In recognition of tough economic times, registration fees and hotel rates have remained unchanged, and discounted airfare is available. More than 700 exhibitors, 150 dealer workshops, a heavy-weight lineup of speakers and an additional half-day of workshops, including "Lifeline to Profit$" (offered both Friday and Tuesday) are slated for the NADA convention.]

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Convention Workshop Recordings Now Available at Discounted Cost

Take advantage of a special package deal on the 2008 NADA Convention Workshop recordings to hear the audio and see the PowerPoint visuals exactly as they happened in the sessions. Buy the complete AudioPoint package for $695—a savings of more than $500—with free shipping. For more information, call Playback Now at (800) 241-7785 or go to www.iplaybackNADA.com. Use Promocode 508-5 to receive special pricing and free shipping.

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STAR Answers Dealers' Questions About Dealership Data Security

 

Standards for Technology in Automotive Retail (STAR) has developed new guidelines to help dealers evaluate their Dealership Data Security. Visit STAR's Dealer Infrastructure Guidelines (DIG) publication for more information. To learn how dealerships should test their security plans click here.

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Lenovo PCs Power Beijing 2008 Olympic Games

  

Lenovo, a major sponsor of the Beijing 2008 Olympic Games, is providing 30,000 computers to power all aspects of the games. Imagine what they can do for you! NADA members can save up to 36 percent on select ThinkPad notebooks with eCoupon USXBACKTOSCHOOL at checkout. This offer ends August 25. To take advantage of these savings, visit NADA's PC Purchase Program online (member login required), then click on www.lenovo.com/shop/deals/nada or call (800) 426.7235, Option 1, Ext. 4838.

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Featured Video
 

Registration for the NADA convention in New Orleans Jan. 24-27 is now open. Click here to see just how much progress New Orleans has made since Katrina.


More Video Highlights

Quotable
 
As sales slip in the U.S. it [will] be difficult for the auto maker to reach its target of selling 10.4 million vehicles annually by 2009.

   
-- Toyota Executive Vice President Mitsuo Kinoshita, The Wall Street Journal, Aug. 8


"Down the road, Chrysler could become a company that produces trucks and minivans and then largely sells others' cars."

    -- Aaron Bragman, auto analyst at Global Insight Inc., responding to reports that Nissan and Chrysler are in discussions to jointly produce midsize cars, The Detroit News, Aug. 8 


"There appears to be a trend toward smaller engines and smaller cars which makes it difficult to sustain profitability at current levels." 

    -- Adam Jonas, pan-European auto analyst at Morgan Stanley, explaining why Europe's luxury carmakers are feeling the pain as well, The Wall Street Journal, Aug. 8 
Video Highlights
 
  
NADA's New Orleans Project: Lusher Charter School


NADA's Return to New Orleans
NADA and "SeeMore's Playhouse" Promote Child Passenger Safety Month in September
 


Click here for more NADA-TV reports.

 
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