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Top Stories
NADA Hosts 4th 'Clunkers' Webinar on Common Pitfalls of Submitting Claims for Reimbursement
Dealers Yet to See Most Cash for Clunkers Payments
Honda, Toyota Lenders Aid Dealers Through Clunker Cash Crisis
GM Will Fill Up to 50 Open Points
Fusion, Focus Help Ford Post Car Sales Gains
Japanese Sales Climb in 'Clunkers' Program
Chrysler to Make Fiat in Mexico
Suzuki May Sell U.S. Gasoline-Electric Hybrid Sedan in 2011
Top Stories
NADA Hosts 4th 'Clunkers' Webinar on Common Pitfalls of Submitting Claims for Reimbursement

The National Highway Traffic Safety Administration (NHTSA) has asked NADA to hold another Webinar as soon as possible in order to help dealers handle the rejections and submit claims successfully for reimbursement. "Cash for Clunkers, Part Four, Tips on Inputting Successful Transactions into the CARS System" will be held Wednesday, August 19, at 1 p.m. EDT. Part Four will feature Scott Addison of Fitzgerald Auto Mall and Kevin Reilly of Alexandria Hyundai – two dealers who have successfully entered applications and received payments – as well as NHTSA and NADA staff, to explain the leading causes of rejections and how to avoid them.

The speakers will walk participants through successful 'clunkers' transactions and some that are unsuccessful and will answer questions. This will be a practical, nuts-and-bolts session. To register, visit www.nada.org/seminars or call (888) 672-5147 or (800) 252-6232, ext. 2. All participants in Part One, Part Two and/or Part Three of the Webinar series will be automatically sent an e-mail link for Part Four at no additional charge. If this is your first "clunkers" Webinar, the special member rate of $199 ($225 for non-members) includes Wednesday’s live Webinar and the archived Webinars for Part One (July 7), Part Two (July 27) and Part Three (August 3). For more information, visit www.cars.gov/dealersupport or www.nada.org/cashforclunkers.
Source: NADA Newswire

Editor's Note: At the suggestion of NADA to help dealers address submission claims issues for reimbursement, NHTSA has published "Quick Guide to Updating Rejected and Saved Invoices," which is also located on the CARS.gov Website.

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Dealers Yet to See Most Cash for Clunkers Payments

WASHINGTON -- Auto dealers say they still haven't been repaid for the majority of Cash for Clunkers deals they have made, creating cash crunches for many as they wait for the government to reimburse them under the popular $3 billion vehicle trade-in program. The National Highway Traffic Safety Administration, the federal agency overseeing the program also known as NHTSA, said Friday that dealers have submitted requests for rebates that total $1.5 billion - half of the money allocated to the program - through the online system set up to process and pay the claims. But NHTSA did not provide a dollar figure for the total amount that has actually been paid since the program began July 27. NHTSA has told dealers they can expect to wait 10 days to be repaid if their paperwork is in order and the deal is approved. But if there is a problem, dealers must resubmit their claim, leading to another potential wait period. That can create problems for dealers, who usually borrow money to put new cars on their lots and must repay lenders within a few days of a sale.
Source: The Associated Press

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Honda, Toyota Lenders Aid Dealers Through Clunker Cash Crisis

The finance arms for American Honda Motor Co. and Toyota Motor Sales U.S.A. Inc., as well as select other lenders, are providing financial assistance to dealers struggling with cash-flow problems created by the federal cash-for-clunkers program. "Dealers aren't being paid on a daily basis for the clunker submissions, so we're giving them extra time to make the deal work," said Chris Martin, a Honda spokesman. David Wilson, president of David Wilson Automotive Group in Orange, Calif., said, "We've sold nearly 1,100 cars on the program and have been paid for five." "I'm out way over $4 million and growing by $200,000 per day," he said.
Source: Automotive News

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GM Will Fill Up to 50 Open Points

LaNeve: Wound-down dealers 'will get first right of proposal'
DETROIT — After selecting in Bankruptcy Court about 1,350 dealerships for termination, General Motors Co. now is saying it will fill open points. GM says it will re-establish dealerships in about 30 to 50 locations. Terminated dealers will get the right to make the first proposals, GM says. Mark LaNeve, GM's vice president of U.S. sales, said the open points were created when poor-performing dealerships in good locations were targeted. The fill-in process is starting now and will continue next year as terminated dealerships close.
Source: Automotive News

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Fusion, Focus Help Ford Post Car Sales Gains

Automaker posts increase for July
Strong performances this year by the redesigned Ford Fusion midsize sedan and Ford Focus compact -- both of which have been strong sellers under the federal cash-for-clunkers program -- have helped Ford's share of the U.S. passenger car market improve from 10.2% to 11.3% for the first seven months of the year. In July, sales of the redesigned 2010 Ford Fusion increased 66% compared with the same month a year ago. Sales of the compact Focus -- one of the most popular vehicles purchased in the government's cash-for-clunkers program -- increased 43.6%.
Source: Detroit Free Press

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Japanese Sales Climb in 'Clunkers' Program

GM, Ford slip behind Toyota in vehicles sold
WASHINGTON -- Japanese automakers have gained significant ground on domestic automakers in the U.S. government's $3 billion "cash for clunkers" program. General Motors Co., Ford Motor Co. and Chrysler Group LLC saw a dropoff in sales while those of foreign rivals rose in the latest tally of "cash for clunkers" sales, as Toyota Motor Corp. dethroned GM as the top seller. Foreign automakers now dominate the top 10 list of vehicles sold through the program, with just two American vehicles among the leaders: the Ford Focus FWD in third and the Ford Escape FWD in seventh.
Source: The Detroit News

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Chrysler to Make Fiat in Mexico

Subcompact 500 Is One of Two Cars From Italian Partner It May Assemble
Under the direction of Fiat SpA, Chrysler Group LLC is devising plans to produce the Italian auto maker's Fiat 500 subcompact at a Chrysler plant in Mexico, according to people familiar with the matter, while considering what other Fiat models to introduce to the U.S. market. A decision to make the 500 in Toluca, Mexico, could be an early test for relations between Chrysler's new management and two key owners, the U.S. government and the United Auto Workers union. The plant's workers are represented by a Mexican union, not the UAW.
Source: The Wall Street Journal

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Suzuki May Sell U.S. Gasoline-Electric Hybrid Sedan in 2011

Suzuki Motor Corp., Japan’s second-largest minicar maker, may introduce gasoline-electric hybrid cars in North America in 2011 to meet growing demand for fuel-efficient vehicles. The carmaker will add a hybrid system to the Kizashi sedan, the Nikkei newspaper reported yesterday. Suzuki aims to compete with top-selling hybrid makers Toyota Motor Corp. and Honda Motor Co. as the smaller carmaker’s U.S. sales have plunged 60 percent this year through July as it struggles to survive the worst auto market in three decades.
Source: Bloomberg News

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Quotable
 
"This stimulus is really working. If we could just get paid."

   
-- David Wilson, president of David Wilson Automotive Group in Orange, Calif., who says he's sold nearly 1,100 cars under the "cash-for-clunkers" program and been paid for five, Automotive News, Aug. 14
Video Highlights
 

Keep or Scrap Cash for Clunkers? 
(CNBC)


Dealers, Detroit Look for Boost From 'Clunkers' (PBS)



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)



Cutting Dealers a Mistake (Fox Business)



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.

 
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