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Tuesday, Oct. 6, 2009 RSSSEND TO A FRIENDPRINT
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Top Stories
Car Sales Showing Upturn, Forecaster Says
Ford Said to Consider U.S. Bid for Volvo, Slim Field
Fiat CEO's Next Step to a New Chrysler
Hyundai Expands, Despite Downturn
Saturn Dealers Quietly Mark the End of an Era
Top Stories
Car Sales Showing Upturn, Forecaster Says

U.S. light-vehicle sales are beginning to show signs of improvement, according to an automobile market researcher that forecasts sales will jump 9.6% in 2010 to 11.2 million. R.L. Polk & Co., in raising its 2010 forecast by 400,000 vehicles, said the bottoming out of the housing market, expansion in manufacturing and improved consumer sentiment were signs the economic recovery was under way.
Source: The Wall Street Journal

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Ford Said to Consider U.S. Bid for Volvo, Slim Field

Ford Motor Co., seeking to sell its money-losing Volvo unit, is negotiating with a U.S.-based bidder for the brand and aims to narrow the talks to one potential buyer this month, said a person familiar with the process. The U.S. bidder, known as the Crown group, is led by Michael Dingman, a Ford director from 1981 to 2002, son James Dingman and Shamel Rushwin, a former manufacturing and labor executive at the automaker, said the person, who asked not to be identified because the process is private.
Source: Bloomberg

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Fiat CEO's Next Step to a New Chrysler

Marchionne acts quick to spin off Ram trucks, bring in marketing exec
At first blush, the decision to create a distinct Ram truck brand adds a layer of bureaucracy and cost. But it could signal more changes are afoot. "This reorganization will allow us to protect and develop the unique nature of the product offerings within the Dodge brand," said Chrysler and Fiat CEO Sergio Marchionne.
Source: Detroit Free Press

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Hyundai Expands, Despite Downturn

South Korean carmaker takes aim at luxury cars buyers
Last fall, as Hyundai Motor America's executives drafted their business plan for 2009, the economic indicators already were signaling a rough stretch ahead. A year later, the South Korean automaker has emerged as one of the top performers in a devastating downturn that drove U.S. auto sales to 30-year lows. Including U.S. sales of its fast-growing affiliate Kia Motors Corp., the Hyundai-Kia Automotive Group boosted its market share by more than two points, to 7.5 percent, overtaking Nissan Motor Co.
Source: The Detroit News

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Saturn Dealers Quietly Mark the End of an Era

Last week, businessman and former race driver Mr. Penske announced that he was ending talks with GM about purchasing Saturn because he did not have a source of cars lined up once GM stopped providing products to him in 2011. Now, Saturn dealers are left with hard-to-sell dealership buildings that are smaller than the industry average, and sales staffs that could find it hard to get jobs for dealerships that don't abide by the "no haggle" pricing policy that Saturn used, industry analysts say.
Source: Pittsburgh Post-Gazette

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Quotable
 
"Hyundai is one of the few companies that aggressively stepped up its marketing to take advantage of its competitors retreating in the weak economy. And it has worked."

    -- Jeff Caponigro, president of Caponigro Public Relations Inc., on Hyundai's emergence as one of the top performers in 2009's devastating downturn in auto sales, The Detroit News, Oct. 6

Video Highlights
 

Crisis Timeline: NADA in High Gear (NADA-TV)


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



NADA's New Buy Now Campaign


 Senate Testimony on Floorplan Loans (NADA-TV) 
 NADA Tackles Industry Crisis (NADA-TV) 
NADA on the Front Lines  (NADA-TV)

Click here for more video reports.
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