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Tuesday, Nov. 24, 2009 RSSSEND TO A FRIENDPRINT
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Top Stories
Koenigsegg Drops Plans to Buy GM's Saab
Analyst Predicts Small Auto Sales Comeback in 2010
Consumer Confidence Improves Slightly in November
The Inside Story of the GM, Chrysler Bailouts
G.M. Seeks Assistance From Europe for Opel
NADA Marketplace
NADA Offers Dealers an Extra Incentive to Attend Upcoming Convention
Top Stories
Koenigsegg Drops Plans to Buy GM's Saab

Swedish supercar maker Koenigsegg Group AB has terminated its agreement to buy the Saab brand from General Motors Co. "We're obviously very disappointed with the decision to pull out of the Saab purchase," GM CEO Fritz Henderson said today in a statement announcing Koenigsegg's decision. "Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week."
Source: Automotive News

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Analyst Predicts Small Auto Sales Comeback in 2010

DETROIT -- The U.S. auto industry will recover only a little next year, weighed down by high unemployment and other troubles that will continue to limit economic growth, a top industry analyst said Monday. Fitch Ratings analyst Mark Oline predicted that sales will rise to 11.1 million cars and trucks next year, a 7.8 percent increase over the 10.3 million he expects for 2009.
Source: The Associated Press

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Consumer Confidence Improves Slightly in November

NEW YORK – Americans' confidence in the economy improved slightly in November from October, but shoppers remain gloomy heading into the traditional start of the holiday shopping season amid a weak job market, according to a monthly survey. "Income expectations remain very pessimistic and consumers are entering the holiday season in a very frugal mood," said Lynn Franco, director of The Conference Board Consumer Research Center in a statement. Experts say depressed spending is likely to persist for several years amid stubbornly high unemployment. The unemployment rate is now at 10.2 percent, the highest in 26 years, and 15.7 million Americans out of work.
Source: The Associated Press

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The Inside Story of the GM, Chrysler Bailouts

WASHINGTON -- Detroit's Big Three automakers came closer than America realized to becoming the Big Two. General Motors Corp. ended merger talks with Chrysler LLC in November 2008 to focus on getting emergency federal aid, but Chrysler continued to believe a tie-up with GM was its best chance for survival. The GM-Chrysler tale is among new details that emerged in Detroit News interviews with more than a dozen insiders -- automakers as well as government officials -- over the past two months.
Source: The Detroit News

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G.M. Seeks Assistance From Europe for Opel

BERLIN — As executives of General Motors met Monday with European officials to ask for financial help in overhauling its struggling auto operations, Germany reopened a bitter public debate over state aid and job protections that has sharply divided its government. Representatives of Belgium, Britain, Germany, Poland, Spain and Sweden — all countries with G.M. plants — said after the meeting that they had agreed not to negotiate with the company over aid until a meeting Dec. 4, when it will have reviewed G.M.’s revamping plan.
Source: The New York Times

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NADA Marketplace
NADA Offers Dealers an Extra Incentive to Attend Upcoming Convention

McLEAN, Va. -- As an added incentive to attend NADA's upcoming Convention & Expo, all dealers and their managers will receive a $200 voucher when they check in at the convention in Orlando. The $200 voucher can be used to purchase any product or service from any exhibitor on the expo floor during the three-day convention, February 13-15, 2010. "During these challenging times, this is our way of showing our support for dealers around the country and the future of their businesses," says Steve Pitt, NADA vice president of conventions and expositions.
Source: NADA Newswire

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Quotable
 
"We're obviously very disappointed with the decision to pull out of the Saab purchase. Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week."

    -- GM CEO Fritz Henderson, in a statement announcing Koenigsegg's decision to terminate its agreement to buy the Saab brand, Automotive News, Nov. 24

Video Highlights
 

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


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



NADA's 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.
2010 Convention
 


NADA Chairman: Convention is the 'Must-Attend Event'

Did you know?

All dealers and their managers who attend the NADA convention in Orlando, Feb. 13-15, will receive a $200 voucher at registration. The voucher can be used toward the purchase of any product or service from any exhibitor on the expo floor. During these challenging times, this is our way of demonstrating support for your business future. Register today! For more information or questions, contact expo@nada.org.

Be in the know
at the NADA convention Feb. 13-15.


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Lenovo has entered into an unprecedented partnership with Microsoft that maximizes the potential of Windows® 7. Lenovo’s new PCs will boot up faster (up to 33 percent faster), have HD graphics, and will be easier to use. NADA members and their staff can save up to 40 percent on select PCs. Lenovo invites you to see how their systems are designed for the way you work. To take advantage of this offer, visit NADA's PC Purchase Program page (member login required). Offer expires Nov. 30.


Save on HP's dx9000 TouchSmart PC

HP’s dx9000 TouchSmart Business PC can transform your desktop experience with this sleek, touch-enabled PC – now only $1,287.08. To take advantage of this offer, visit NADA's PC Purchase Program site (member login required). Offer expires Nov. 30.

 
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