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Top Stories
Ford Profit Tops Wall Street Forecasts
Small Business Lending Measure Clears Filibuster
Lack of Votes for Senate Democrats' Energy Bill May Mean The End
GM Keeps Alliance With Ally Intact Despite AmeriCredit Deal
JD Power Sees July US Auto Sales Up From Year Ago
Is This the End of the Hybrid Price Premium?
Next iPhone Impulse Buy: Your Car
Top Stories
Ford Profit Tops Wall Street Forecasts

Ford Motor Co posted a stronger-than-expected quarterly profit of $2.6 billion and said it was on track for higher earnings and lower debt in 2011, sending its shares up 3 percent in premarket trade. (Read more)
Source: Reuters

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Small Business Lending Measure Clears Filibuster

WASHINGTON -- Community banks may soon be able tap a $30 billion government fund to help them increase lending to small businesses. A measure creating the fund overcame a Republican filibuster in the Senate Thursday evening by a 60-37 vote with two Republicans joining Democrats in support of the fund. (Read more)
Source: The Associated Press

Editor's Note: NADA has been working on multiple fronts to expand dealer access to floorplan lines of credit. The Senate bill contains an extension and expansion of the SBA’s Dealer Floorplan Financing Program, which NADA has been on record supporting (see letter). The floorplan program continues to face stiff opposition in the House, so its future remains in question.

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Lack of Votes for Senate Democrats' Energy Bill May Mean The End

Conceding that they can't find enough votes for the legislation, Senate Democrats on Thursday abandoned efforts to put together a comprehensive energy bill that would seek to curb greenhouse gas emissions, delivering a potentially fatal blow to a proposal the party has long touted and President Obama campaigned on. (Read more)
Source: The Washington Post

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GM Keeps Alliance With Ally Intact Despite AmeriCredit Deal

Although General Motors Co. boasts a new captive finance arm, its planned purchase of AmeriCredit Corp. leaves the automaker's partnership with Ally Financial Services intact, assuring a continuation of floorplan financing for GM dealerships. (Read more)
Source: Automotive News

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JD Power Sees July US Auto Sales Up From Year Ago

DETROIT - U.S. auto sales are expected to rise 4 percent in July from the month a year earlier that was boosted by the start of U.S. government "cash for clunkers" incentives, influential forecaster J.D. Power and Associates said on Thursday. (Read more)
Source: Reuters

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Is This the End of the Hybrid Price Premium?

By pricing the coming hybrid version of the luxury MKZ (due in showrooms this fall) at $35,180, the same price as its gas counterpart, Lincoln may be starting a trend toward erasing the price premium for gas-electric drivetrains. (Read more)
Source: The New York Times

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Next iPhone Impulse Buy: Your Car

NEW YORK -- Here's a smartphone tool that people prone to midnight shopping binges should handle with care. On Aug. 4, car shoppers will be able to get a new car paid, financed and insured using only an iPhone. But experts, even those at USAA, caution that car shoppers should be wary of completely bypassing the dealership. While websites and iPhone apps can give you specifications and even images of the cars, they can't replace the all-important test drive. (Read more)
Source: CNNMoney.com

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Quotable
 
"We delivered a very strong second quarter and first half of 2010 and are ahead of where we thought we would be despite the still-challenging business conditions."

   -- Ford Chief Executive Alan Mulally, in a statement after the automaker posted a stronger-than-expected quarterly profit of $2.6 billion, Reuters, July 23

Video Highlights
 

Tonkin: Dealers Made the Difference on Financial Reform

TARP Inspector General Barofsky on Dealer Closures (MSNBC) 


NADA University: 'We Build Champions'

NADA Marketplace
 


Online Registration for 2011 Convention & Expo Opens Monday!

Registration and housing for the 2011 Convention & Expo Feb. 5-7 in San Francisco will open Monday, July 26. Be among the first to register and  take advantage of our “early bird" rates and assure your pick of hotels! This year's event promises to be unsurpassed. For daily updates, find us on Facebook, Twitter, and LinkedIn!


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