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Tuesday, June 30, 2009 RSSSEND TO A FRIENDPRINT
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Top Stories
Car-Sales Rebound Seen for June
GM May Put Obama Auto-Rescue Plan a Month Ahead of Schedule
Feds to Launch Cash-for-Guzzlers on July 23
Ford Ups Q3 Production by 25,000 Vehicles
Oh, What a Reeling Feeling
Some Chrysler Models in Shortage
Porsche Rejects Volkswagen Offer
G.M. Exits Venture With Toyota
EPA Proposes Tougher Clean Air Rule
Top Stories
Car-Sales Rebound Seen for June

Fewer jobless claims, deep discounts spurring demand; Ford to raise its quarterly production by 16%
Buoyed by fewer jobless claims and improved consumer confidence, annualized U.S. sales could hit 10 million this month for the first time in 2009, Ford Motor Co. analyst George Pipas said on Monday. The deep discounts that General Motors Corp. and Chrysler Group LLC have offered to boost sales are also likely to bolster June sales. "Consumer confidence is improving, and market uncertainty is starting to decline, which has made consumers more willing to take advantage of deals on new vehicles," said Gary Dilts, J.D. Power's vice president of global automotive operations in a statement.
Source: The Wall Street Journal

Editor's Note: June sales figures are expected to be released Wednesday. Check www.nada.org/nadadata in coming days for a June sales recap.

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GM May Put Obama Auto-Rescue Plan a Month Ahead of Schedule

General Motors Corp. is poised to follow rival Chrysler LLC’s path and win approval to sell most of its assets at a hearing set to start today, putting President Barack Obama’s administration almost a month ahead of schedule in its plan to reshape the U.S. auto industry. GM said objections ... should be rejected as the sale to the Treasury is the only option and the objectors aren’t seeking to block it, only to get a better payout from the transaction.
Source: Bloomberg

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Feds to Launch Cash-for-Guzzlers on July 23

WASHINGTON -- The U.S. Transportation Department said it expects to issue final rules for the cash-for-guzzlers program around July 23 and warned dealers that they are legally responsible for any trade-ins structured before that date. "Interested dealers and consumers may want to wait until all of the detailed issues that must be addressed in the implementing regulations are resolved," the department said on its cars.gov Web site for the program.
Source: Automotive News

Editor's Note: "NADA strongly supported passage of the cash-for-clunkers bill, but cautions dealers to wait until the transportation department issues the rules before starting the program," said David Regan, NADA vice president of legislative affairs. More information on the cash-for-clunkers program, including "frequently asked questions," is available at www.nada.org/cashforclunkers.

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Ford Ups Q3 Production by 25,000 Vehicles

DETROIT -- Ford Motor Co. is increasing its third-quarter production forecast by 25,000 vehicles to 485,000 units, Ford sales analyst George Pipas said [Monday]. "We'll increase production if sales keep going up," he said. "Our retail market share has increased, and our total market share has increased, and that's the reason for the production increase. We're trying to catch up with consumers."
Source: Automotive News

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Oh, What a Reeling Feeling

Stung by losses, Toyota plans to move quickly toward a smaller and lower-priced U.S. lineup
TOKYO — With Toyota Motor Corp. reeling from North American losses, newly installed President Akio Toyoda has ordered his new top U.S. executives to skew the product lineup toward small cars, cut prices and streamline decision-making. "The new Toyota management feels like we are setting sail during a storm," Toyoda said at his first public appearance since being confirmed as head of the company his grandfather founded. "The going will be tough for the next couple years."
Source: Automotive News

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Some Chrysler Models in Shortage

The nearly nine-week long production halt at Chrysler Group LLC has left some of its dealers with an unusual problem: a shortage of high-demand models such as the Jeep Wrangler and the Chrysler Town and Country minivan. The trend at Chrysler suggests it may be on the way to surmounting a key hurdle that has long stood between it and profitability. "There's profit to be had now," said Josh Van Campen, vice president of Van Campen Motor Sales, a Chrysler dealer in Williamsport, Pa. "Instead of giving away new cars like you used to have to, people are actually paying a little bit more."
Source: The Wall Street Journal

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Porsche Rejects Volkswagen Offer

STUTTGART, Germany — Porsche has rejected Volkswagen AG's bid to take a 49% stake in the sports carmaker, a company spokesman said Monday. Porsche Automobile Holding SE spokesman Albrecht Bamler said the offer by VW "is not a viable option." Porsche holds a roughly 51% stake in Volkswagen, but ran up hefty debts in accumulating that holding and is now seeking a merger with the larger company.
Source: The Associated Press

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G.M. Exits Venture With Toyota

DETROIT — General Motors said Monday that it was pulling out of its joint venture with Toyota, a longstanding partnership between two of the auto industry’s biggest rivals that exposed G.M. to more efficient Japanese manufacturing techniques and produced Toyota’s first American-made vehicles. The plant builds two Toyota models ... and a small crossover vehicle for G.M., the Pontiac Vibe. G.M. is eliminating the Pontiac brand next year and plans to discontinue the Vibe in August.
Source: The New York Times

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EPA Proposes Tougher Clean Air Rule

The Environmental Protection Agency said it wants to tighten the air quality requirement for nitrogen dioxide that is released from motor vehicles, coal burning power plants and factories. The federal air quality standard for nitrogen dioxide, as it applies to health, has not been changed in 35 years.
Source: The Associated Press

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Quotable
 
"There's profit to be had now. Instead of giving away new cars like you used to have to, people are actually paying a little bit more."

   
-- Josh Van Campen, vice president of Van Campen Motor Sales in Williamsport, Pa., The Wall Street Journal, June 30


"The new Toyota management feels like we are setting sail during a storm. The going will be tough for the next couple years."

    -- Toyota President Akio Toyoda, at his first public appearance since being confirmed as head of the company his grandfather founded, Automotive News, June 29


"Our retail market share has increased, and our total market share has increased, and that's the reason for the production increase. We're trying to catch up with consumers."

    -- Ford sales analyst George Pipas, who said Monday Ford is increasing its third-quarter production forecast by 25,000 vehicles, Automotive News, June 29

Video Highlights
 

Media Coverage: The Tragedy of Dealer Closings (NADA-TV)


NADA's New Buy Now Campaign



No Dent in Demand for Some U.S. Cars (NBC)



Car Dealers Trying to Buy More Time (NBC)



Fighting the Dealers' Fight (CNBC)



Cutting Dealers a Mistake (Fox Business Network)



Vice Chairman Tonkin on Chrysler Closures (Bloomberg)



Should Government Decide Dealers' Fate? (CNBC)



The Case Against Closing Dealerships (CNBC)



In-Depth Look - Pent Up Auto Demand (Bloomberg)



NADA on Floorplan Credit Crisis (NADA-TV)


John McEleney's Testimony to Senate Committee (CNBC)
 Senate Testimony on Floorplan Loans (NADA-TV)
 Banks Turning on American Car Dealers? (WTNH-TV)
 NADA Tackles Industry Crisis (NADA-TV)
 McEleney Speaks at NADA Convention (NADA-TV)
 Demise of Dealerships Leaves Big Dent (NBC)
NADA on the Front Lines  (NADA-TV)


Click here for more video reports.

 


Orlando 2010 - Go to Know

"Smart Deals" from HP

 

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