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Top Stories
GM Will Take Part in 2010 NADA Convention
Dealers Paid $1.22 Billion to Date Under 'Cash for Clunkers'
Buy a G.M., Like It, or Get Your Money Back
Chrysler Poised to Return to Leasing, Sources Say
U.S. Economic Growth to Slow as Car Rebates End, Survey Shows
NADA Convention: Only 8 Days Left to Save Money on Advance Registration
Top Stories
GM Will Take Part in 2010 NADA Convention

DETROIT -- General Motors Co. announced [Thursday] that it will participate in the 2010 National Automobile Dealers Association convention in Orlando, Fla. Traditionally, GM has a major presence at the NADA convention, including one of the largest exhibits on the show floor. But GM's 39-day bankruptcy restructuring this summer ... prompted speculation that the automaker might snub the NADA convention next year. As part of its restructuring, GM plans to cut about 2,000 U.S. dealerships by October 2010. GM also usually sends top executives to the convention to meet with GM dealers formally in make meetings and socially in receptions.
Source: Automotive News

Editor's Note: GM issued the following statement Thursday regarding its relationship with NADA: GM confirmed today its long-standing working relationship with the National Automobile Dealers Association and its participation in the 2010 NADA Convention in Orlando, Florida. As General Motors moves forward as a new company, the primary focus is to work with transparency and collaboratively with NADA on issues directly impacting GM dealers. "During the last year, GM and the automotive industry have faced some unprecedented business and economic challenges," said Mark LaNeve, vice president, U.S. Sales. "I want to especially thank those NADA representatives serving on GM's various dealer councils and other dealer groups for their dedication, expertise, leadership, and strength they bring to our core business. It's never been more important in the history of our company to continue on a single path that will mutually benefit GM and its dealers."

NADA Chairman John McEleney issued the following statement regarding GM's participation in the 2010 convention: "We are pleased with GM’s decision to attend the NADA convention in Orlando in February. The industry is facing historic challenges. With thousands of dealers in attendance, the NADA Convention offers a rare opportunity to maintain a meaningful dialogue between manufacturers and dealers. We look forward to continuing such a dialogue with GM as we all wrestle with the many issues facing the automobile industry."

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Dealers Paid $1.22 Billion to Date Under 'Cash for Clunkers'

WASHINGTON -- Transportation Secretary Ray LaHood said today the administration has paid auto dealers $1.22 billion for 289,000 of the 690,000 vehicles sold under the "cash for clunkers" program. LaHood said the department has 5,000 people working to process voucher requests and will complete payments by the end of the month. LaHood acknowledged that dealers had expressed some "irritation" for not getting paid faster, but he called the program wildly successful, noting it had dramatically boosted auto sales in August.
Source: The Detroit News

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Buy a G.M., Like It, or Get Your Money Back

In its first major marketing campaign since emerging from bankruptcy, G.M. is putting its new chairman, Edward E. Whitacre Jr., in the spotlight as the spokesman for its offer to give customers a full refund within 60 days on any G.M. car or truck. The campaign, called “May the Best Car Win,” is part of G.M.’s effort to change its lingering image as a financially struggling company with substandard products. G.M. expects to continue the money-back guarantee at least through November and possibly longer. The marketing campaign will also include head-to-head comparisons between G.M. vehicles and competing models from Toyota, Ford and other companies.
Source: The New York Times

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Chrysler Poised to Return to Leasing, Sources Say

Just three months out of bankruptcy, Chrysler Group is preparing for a likely return to consumer leasing, say auto dealer sources briefed on the plan by the company. The leases, which will originate with GMAC Financial Services, will be offered only on select vehicles. Probable vehicles include the Dodge Journey crossover, Nitro SUV, Ram pickup and Grand Caravan minivan; Jeep Liberty SUV; and Chrysler Town & Country minivan. Chrysler is waiting until after Tuesday, when the Automotive Lease Guide issues its latest residual-value numbers, to make final decisions, the sources said. Leasing could be relaunched as early as Sept. 18 if a plan is approved.
Source: Automotive News

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U.S. Economic Growth to Slow as Car Rebates End, Survey Shows

The U.S. economy will pull out of the recession at a faster pace than previously forecast, before slowing as the end of the government’s auto-rebate program weighs on consumer spending, a survey of economists showed. The government’s “cash for clunkers” program increased spending and had an impact on payrolls. General Motors Co. last month called back 1,350 union workers, its biggest one-time increase in jobs since 2006, as it boosted second-half production in part because of the trade-in program. The economy will grow 2.4 percent next year, followed by a 2.9 percent expansion in 2011, according to the median forecast in the Bloomberg survey, taken from Sept. 3 to Sept. 10.
Source: Bloomberg

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NADA Convention: Only 8 Days Left to Save Money on Advance Registration

There are only eight days remaining to take advantage of the money-saving “early bird” registration rates for the NADA Convention & Exposition in Orlando, Fla. from Feb. 13-15. Fees will increase after Sept. 18, so don’t delay. Did you know a brand new Executive Track of speakers has been slated for the NADA convention? They will cover topics on the economy, financial markets, organizational change and managing the new generation and business growth. It’s another reason for you to “go to know!” Click here to register today.
Source: NADA Newswire

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Quotable
 
"It's never been more important in the history of our company to continue on a single path that will mutually benefit GM and its dealers."

    -- Mark LaNeve, GM vice president of U.S. sales, in a statement regarding GM's participation in NADA's 2010 convention, GM Media Online, Sept. 11


"With thousands of dealers in attendance, the NADA Convention offers a rare opportunity to maintain a meaningful dialogue between manufacturers and dealers. We look forward to continuing such a dialogue with GM as we all wrestle with the many issues facing the automobile industry."

    -- NADA Chairman John McEleney, in a statement regarding GM's participation in NADA's 2010 convention, NADA Newswire, Sept. 11


"I am convinced that our cars are as good, if not better, than anybody else’s."

    -- Edward E. Whitacre Jr., GM's new chairman, who is being put in the spotlight as the spokesman for its offer to give customers unsatisfied with their purchase of any G.M. car or truck a full refund within 60 days, The New York Times, Sept. 11

Video Highlights
 

NADA Chairman on Success of 'Clunkers' (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)



NADA on Floorplan Credit Crisis (NADA-TV)


 Senate Testimony on Floorplan Loans (NADA-TV)
 Banks Turning on American Car Dealers? (WTNH)
 NADA Tackles Industry Crisis (NADA-TV) 
 Demise of Dealerships Leaves Big Dent (NBC)
NADA on the Front Lines  (NADA-TV)


Click here for more video reports.
2010 Convention
 
 

Did you know?

As a bonus for attending the NADA convention, you can attend two workshop sessions on Friday afternoon before the convention starts at no extra charge!

Click here for more money saving ideas or visit www.nada.org/convention and click the $$$ Savings icon. And for airline discounts, check out our airfarewatchdog in the money saving section.

Be in the know at the 2010 NADA Convention & Expo in Orlando, Fla., Feb. 13-15.

 
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Take Advantage Now of 'Early Bird' Discounts on Advanced Registration for the 2010 NADA Convention & Expo

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NADA For more information on NADA, visit www.nada.org or contact NADA, 8400 Westpark Drive, McLean, VA 22102. This email may contain an advertisement of NADA products and services. Any opinions or statements contained herein do not necessarily reflect the views of NADA. Factual errors are the responsibility of the listed publication. If you are a franchised new-car or -truck dealer and would like to become a member of NADA, please visit the Join NADA section of www.nada.org. Questions or comments concerning NADA Headlines content may be directed to media@nada.org.