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Top Stories
Toyota Dealers Rally in Defense of Brand
Toyota: Recalls May Not Totally Solve Problems
Toyoda Testimony: As Automaker Grew, Safety Suffered
Toyota Starts Rolling Out Deals to Attract Buyers
GM Sells Saab to Spyker, Saving Swedish Automaker
Opinion: NADA Proves Cooperation Is Still King
Click Here for More News from NADAFrontPage.com
Top Stories
Toyota Dealers Rally in Defense of Brand

WASHINGTON -- More than 100 Toyota dealership owners and staff rallied on Capitol Hill Tuesday to defend their businesses and Toyota as Congress opened high-profile hearings into recent large-scale vehicle recalls. "We take great pride in the fact that as of last night, together we've done over 690,000 recalls already and are pacing at 50,000 a day throughout the United States," Paul Atkinson, chairman of the Toyota National Dealer Council, said to the crowd. Click here for live coverage of today's hearing.
Source: CNN

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Toyota: Recalls May Not Totally Solve Problems

WASHINGTON -- Toyota's top U.S. official says the company's massive recalls may "not totally" solve the company's problems with unintended acceleration of some of its most popular cars and trucks. Testifying before a House committee, Jim Lentz says the company is still investigating the issue, including whether electronics of the gas pedal system may be at fault. Toyota has not found any evidence of that yet, he says. Lentz also says that Toyota is putting in new brakes that can override the gas pedal on almost all of its new vehicles and a majority of its vehicles already on the road.
Source: The Associated Press

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Toyoda Testimony: As Automaker Grew, Safety Suffered

WASHINGTON -- Toyota Motor Corp. President Akio Toyoda plans to tell lawmakers (today) that the company regrettably chased growth at the expense of safety in recent years, and he will announce steps to improve Toyota’s handling of customer complaints. Toyoda’s written testimony to the House Oversight and Government Reform Committee says the automaker’s priorities “became confused.” “We pursued growth over the speed at which we were able to develop our people and our organization,” Toyoda says. “I regret that this has resulted in the safety issues described in the recalls we face today.” The House Oversight and Government Reform Committee released Toyoda’s testimony (Tuesday) at the same time that the House Energy and Commerce Committee was conducting the first congressional hearing into Toyota’s safety problems.
Source: Automotive News

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Toyota Starts Rolling Out Deals to Attract Buyers

As Toyota Motor Corp. executives face a grilling from lawmakers this week about sudden acceleration and other problems, the auto maker is trying to win over a bigger audience—consumers—not just with words, but with deals. Dealers say Toyota has sweetened lease deals on many models by increasing the "residual values"—the projected value of the car at the end of the lease contract—and dropping finance rates. Toyota dealers are moving 2010 Corollas with a 0% interest, five-year-loan offer. New Camrys are on sale for as little as $179 a month. The Lexus luxury division is promoting discounted lease offers as well, which vary by region and dealer. Toyota is also offering deals to people who want to buy a new car.
Source: The Wall Street Journal

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GM Sells Saab to Spyker, Saving Swedish Automaker

General Motors Co. sold Saab Automobile to Spyker Cars NV, the Dutch maker of supercars, for at least $400 million in cash and preferred shares, averting the extinction of the 72-year-old Swedish carmaker. “The transaction secures the future of Saab Automobile and signals the start of an exciting new era for the iconic brand,” Spyker said in a statement after Chief Executive Officer Victor Muller and Saab CEO Jan-Aake Jonsson signed the final accord today in Stockholm. The completion of GM’s 14-month effort to sell Saab allows about 3,500 local workers to maintain their jobs and keeps the Trollhaettan-based company’s 1,100 dealers worldwide in business.
Source: Bloomberg

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Opinion: NADA Proves Cooperation Is Still King
By Keith Crain

There was some remarkable dialogue between manufacturers and their franchised dealers this month at the National Automobile Dealers Association convention in Orlando. Click here for the full commentary in this week's edition of Automotive News.

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Click Here for More News from NADAFrontPage.com

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Quotable
 
"My name is on every car. You have my personal commitment that Toyota will work vigorously and unceasingly to restore the trust of our customers."

   
-- Toyota Motor Corp. President Akio Toyoda, grandson of the company's founder, who is testifying today at a congressional hearing, Automotive News, Feb. 23


"We take great pride in the fact that as of last night, together we've done over 690,000 recalls already and are pacing at 50,000 a day throughout the United States."

    -- Paul Atkinson, chairman of the Toyota National Dealer Council, in remarks Tuesday on Capitol Hill defending their businesses, CNN, Feb. 24

Video Highlights
 

Tonkin: 'Dealers Will Be There'


NADA Launches New Online Magazine


NADA Comes Through in a Tough Year (NADA-TV)


NADA-TV: Interview with GM's Susan Docherty, VP Sales, Service & Marketing


NADA's Trucks for Haiti Campaign Off to Strong Start
 (NADA-TV)

2010 Convention
 

CLICK HERE for Comprehensive Convention News Coverage at NADAFrontPage.com.


REGULATORY UPDATES



Save up to $538 on Select Lenovo Notebooks

NADA members can now enjoy great Lenovo discounts, free shipping and peace of mind technology – all at a great price! Act now and save up to $538 on select notebooks – like the ThinkPad X200 with integrated graphics for only $881. To learn more about these and other specials for NADA members, visit NADA's PC Purchase Program site (member log in required).

 

HP Announces Winner of Mini Laptop

Julia George, the controller at Flagler Chrysler/Dodge/Jeep in Palm Coast, Fla., was the winner of the HP Mini 5102 laptop drawing at the 2010 NADA Convention. HP congratulates Julia and thanks all the visitors to the NADA Pavilion. To see all the HP computer and printer products available to NADA members visit NADA's PC Purchase Program site (member log in required).

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