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Top Stories
U.S. Spells Out Rules for 'Cash for Guzzlers' Trade-ins
Top House, Senator Leaders Support Dealer Bill
Cash-for-Clunkers Webinar, Part Two, Scheduled for Monday
Ford Pushes Into the Black, Snapping Losing Streak
Dealers Prepare Marketing for Cash-for-Guzzlers
ABC News Joins Growing List of Media Outlets Reporting on Clunkers Program
More Losses Ahead for Chrysler
Toyota Said to Decide to Shut California Car Plant
Online Registration for 2010 Convention in Orlando Opens Monday
Top Stories
U.S. Spells Out Rules for 'Cash for Guzzlers' Trade-ins

Dealers participating in the “cash for guzzlers” program must visit www.cars.gov to find a list of facilities that may qualify for scrapping vehicles and then make sure the company can crush or shred trade-ins, according to preliminary rules on the Web site. The government posted the rules today for the program... “Cash for guzzlers” gives consumers vouchers of up to $4,500 for trading in some gas-guzzling vehicles for new ones with better fuel economy. The list of companies that may qualify for disposing of trade-ins is under the “Disposal and Salvage” link on the Web site, under the bullet point labeled “ELVS List by State.” Not all of those disposal firms can crush or shred cars, the federal rules say, so dealers must ask whether they can do so. The facilities can use a mobile crusher, the rules say. Consumers wanting to get the government vouchers can find a list of registered dealers at www.cars.gov, the rules say...
Source: Automotive News

Editor's Note: NHTSA's final rule explains the process for registering dealers, how dealers will be reimbursed for eligible transactions, the requirements and procedures for disposing of trade-in vehicles, and the means for enforcing the program's requirements. NADA is aware that dealers across the country are encountering delays in the online registration process as well as long hold times on the CARS dealer hotline at (866) 227-7891. NHTSA is working to resolve these issues. Later today, NADA will post an updated Q&A along with a summary of the CARS rule at www.nada.org/cashforclunkers. Dealers can access the dealer section of the CARS Web site at www.cars.gov/dealersupport.

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Top House, Senator Leaders Support Dealer Bill

WASHINGTON -- Auto dealers trying to reverse the closing of more than 3,000 General Motors Co. and Chrysler Group LLC dealers won the backing of two key members of Congress this week. Sen. Max Baucus, D-Mont., chairman of the powerful Senate Finance Committee, and House Minority Leader John Boehner, R-Ohio, signed on to bills in Congress to reverse the June closing of 789 Chrysler dealers and the planned closing of at least 1,300 GM dealers. Boehner joins House Majority Leader Steny Hoyer, D-Md., as a co-sponsor in a rare example of party leaders joining forces on a bill. That brings the total to 30 senators and 264 House members that are on record in favor of bills seeking to reverse the closings.
Source: The Detroit News

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Cash-for-Clunkers Webinar, Part Two, Scheduled for Monday

Part Two of the NADA/NHTSA Webinar on the Car Allowance Rebate System (CARS) will be presented on Monday, July 27, from 1-3 p.m. (ET). NADA members are strongly encouraged to participate in the second Webinar. The special rate of $199 includes both Part Two and Part One of the “Cash for Clunkers” Webinar. All participants in the first Webinar (and those who purchased the archive) will be emailed login information for the second Webinar automatically. Registrants for the second Webinar will receive a link to the archive of the first Webinar, which they’ll be able to view and hear in its entirety, as well as login instructions for the second. For more information, visit www.nada.org/seminars or call (800) 252-6232, ext. 2.
Source: NADA Newswire

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Ford Pushes Into the Black, Snapping Losing Streak

Bolstered by Cost Cuts, Automaker Moves In on Rivals
Ford Motor on Thursday posted a surprise profit of $2.26 billion for the second quarter, ending a streak of four straight quarterly losses. Ford executives now say the automaker is on track to return to annual profitability in 2011. "Despite the challenges, Ford's underlying business is getting progressively stronger as we launch great new products the customers want and value, while continuing to aggressively restructure our operations," Ford chief executive Alan R. Mulally said in a conference call with analysts.
Source: The Washington Post

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Dealers Prepare Marketing for Cash-for-Guzzlers

WASHINGTON -- Hundreds of dealers have been gearing up for the next phase of the cash-for-guzzlers program by using the program logo in print and broadcast advertisements. "The program has created a buzz among our customers, and the ads have hyped our traffic," Levi Haslup, sales manager of Ourisman Chrysler Jeep Dodge in Clarksville, Md., said in an interview.  "We're working on our first few deals with customers now."
Source: Automotive News

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ABC News Joins Growing List of Media Outlets Reporting on Clunkers Program

ABC's "World News with Charles Gibson" is taking an inside look into the clunkers program and how it will affect consumers and the entire auto industry. The segment will feature Rick DeSilva, president of Liberty Hyundai in Mahwah, N.J. "The cash for clunkers program has definitely created traffic. It has given those prospective customers who were 'on the fence' the incentive to visit the showroom," DeSilva said. "I just hope that there is enough funding and it doesn't become another government program that gets consumed by red tape." Barring any breaking news, the segment is scheduled to air at 6:30 p.m. today.
Source: NADA Newswire

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More Losses Ahead for Chrysler

Fiat Chief Sees Red Ink in Short Term but Aims to Ready U.S. Car Maker for Offering
Fiat SpA Chief Executive Sergio Marchionne plans to return Chrysler Group LLC to profitability for an eventual public offering by instilling pricing discipline, transferring technology and adding new compact cars to its line-up. The U.S. auto maker, however, is in store for more losses in the short term ... [Mr. Marchionne] predicted Chrysler will enjoy "healthy margins" when annual light vehicle sales in the U.S. rise to the 13 million to 14 million level, which "won't happen in 2010," he said.
Source: The Wall Street Journal

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Toyota Said to Decide to Shut California Car Plant

Toyota Motor Corp. will shut a California auto-assembly plant that operated as a joint venture with General Motors Corp. for 25 years, the first time Japan’s largest carmaker has closed a factory at home or abroad, according to two people familiar with its plan. GM in June said it would end assembly of Pontiac Vibes at New United Motor Manufacturing Inc., known as Nummi, and quit the venture as part of its reorganization. “Without GM’s volume the plant is simply not cost effective,” said Aaron Bragman, an analyst at IHS Global Insight Inc. in Troy, Michigan.
Source: Bloomberg

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Online Registration for 2010 Convention in Orlando Opens Monday


Registration and housing for NADA’s Convention & Exposition in Orlando, Fla., Feb. 13-15, 2010, opens Monday, July 27. In light of the tough economic environment, NADA is offering an “early bird” special to attendees who register online before Sept. 18. A selection of moderately priced hotels is also available on a first-come-first-served basis. All convention activities, including two full workshop tracks on Friday, Feb. 12, will take place at the Orange County Convention Center in downtown Orlando, unless otherwise noted. For more information about the 2010 convention or to register, visit www.nada.org/convention.
Source: NADA Newswire

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Quotable
 
"The program has created a buzz among our customers, and the ads have hyped our traffic."

   
-- Levi Haslup, sales manager of Ourisman Chrysler Jeep Dodge in Clarksville, Md., on the cash-for-clunkers program, Automotive News, July 23



"Despite the challenges, Ford's underlying business is getting progressively stronger as we launch great new products the customers want and value, while continuing to aggressively restructure our operations."

    -- Ford chief executive Alan R. Mulally, The Washington Post, July 24

Video Highlights
 

GM Still Government Motors? (Fox Business)


Helping Dealers Left Out of New GM (Fox Business)



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)



Fighting the Dealers' Fight (CNBC)



Cutting Dealers a Mistake (Fox Business)



Vice Chairman Tonkin on Chrysler Closures (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

Save Instantly on HP Laptops

Cash-for-Clunkers Webinar, Part Two, Scheduled for July 27

NADA Insurance Gives Dealers Thousands in Hole-in-One Coupons


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