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Top 10 Stories
U.S. Opens Investigation of Possible Illegal Activity in Dealer Cuts
SEC Settlement with Former Auto Czar Steven Rattner on Hold, Sources Say
Sticker Redesign Fuels Outcry, Praise
Opinion: EPA Decision Allowing E15 Ethanol in Gas Smells Like Politics
Bernanke: Fed Prepared to Act to Boost Economy
GM on Track for Mid-November IPO
U.S. Auto Sales Rate May Be 12.3 Million, Toyota Says
Plug-In Cars Pose Riddle for E.P.A.
Ford: EcoBoost Engine Priced for Affordability
Lexus Cedes Ground in the U.S. to Mercedes and BMW
Top 10 Stories
U.S. Opens Investigation of Possible Illegal Activity in Dealer Cuts

WASHINGTON -- The federal inspectors that criticized the Obama administration, General Motors and Chrysler for their handling of about 2,300 U.S. dealership terminations have opened a follow-up investigation of possibly illegal activity in the effort. (Read more)
Source: Automotive News

Editor's note: The following is a statement from the National Automobile Dealers Association (NADA): "The investigation validates what we've been saying all along: that mass dealer cuts were unwarranted and unwise. History will show that this was an especially dark time for our industry. We hope the investigation will shed further light on the unjustified decision to close thousands of small businesses which led to the loss of 160,000 jobs."

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SEC Settlement with Former Auto Czar Steven Rattner on Hold, Sources Say

A federal agreement to settle allegations that former Obama administration auto czar Steven Rattner took part in a "pay-for-play" scandal in New York has been put on hold to coordinate a deal with state authorities, according to sources familiar with the matter. Rattner agreed this week to pay $6 million and be barred from the financial industry for two years to resolve allegations made by the Securities and Exchange Commission that he bribed a political consultant to win business from New York's pension fund for his former investment firm, the sources said. (Read more)
Source: The Washington Post

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Sticker Redesign Fuels Outcry, Praise

Letter grade unfair, automakers say, but environmental advocates favor it as easy to understand
During a public hearing Thursday in Chicago, representatives of automakers and auto dealers agreed a new window label was necessary but said assigning a letter grade across vehicle categories would be akin to comparing apples and oranges. And the auto industry has said that a grading system is imbued with school-time memories of passing and failing. Letter grades "are at best of virtually no value and at worst counterproductive," said Desmond Roberts, a Chevrolet dealer in the Chicago area and an official with the National Association of Minority Automobile Dealers. "Seeking to evaluate and rate vehicles without attempting to hold constant attributes such as seating or hauling capacity renders such ratings meaningless." (Read more)
Source: Chicago Tribune

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Opinion: EPA Decision Allowing E15 Ethanol in Gas Smells Like Politics
By Jim Motavalli

When you consider the timing, the Environmental Protection Agency’s decision Wednesday to allow a 15 percent blend of ethanol (E15) into the gasoline mix (from the current 10 percent) for newer 2007-and-after cars would seem to be motivated largely by politics. (Read more)
Source: BNET

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Bernanke: Fed Prepared to Act to Boost Economy

BOSTON -- The Federal Reserve is prepared to take new action to boost the economy, its chairman, Ben S. Bernanke, said Friday morning, because inflation has been too low of late and unemployment is poised to come down too slowly. (Read more)
Source: The Washington Post

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GM on Track for Mid-November IPO

NEW YORK -- General Motors Co is on track to move ahead with its initial public offering during the week of Nov. 15 after a recent round of meetings with sovereign wealth funds, sources with knowledge of preparation for the deal said. (Read more)
Source: Reuters

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U.S. Auto Sales Rate May Be 12.3 Million, Toyota Says

U.S. auto sales may reach a 12.3 million annual rate in October, the fastest pace this year, Don Esmond, Toyota Motor Corp.’s North American sales chief, said (Thursday) at an event in Detroit. (Read more)
Source: Bloomberg

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Plug-In Cars Pose Riddle for E.P.A.

DETROIT — About two months before two new plug-in cars go on sale in the United States, the federal government is struggling with how to rate the fuel economy of mass-market plug-in vehicles. (Read more)
Source: The New York Times

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Ford: EcoBoost Engine Priced for Affordability

Ford Motor said (Thursday) that it has priced the 3.5-liter turbocharged V6 engine $1,750 above its entry-level engine for its 2011 F-150 pickups. (Read more)
Source: Detroit Free Press

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Lexus Cedes Ground in the U.S. to Mercedes and BMW

Mercedes, after selling more vehicles than Lexus in the U.S. in September, finished the third quarter only about 2,700 sales shy of overtaking the Japanese brand. (Read more)
Source: Bloomberg

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Quotable
 
"The investigation validates what we've been saying all along: that mass dealer cuts were unwarranted and unwise. History will show that this was an especially dark time for our industry. We hope the investigation will shed further light on the unjustified decision to close thousands of small businesses which led to the loss of 160,000 jobs."

   
-- An NADA Statement in response to reports that the Office of the Special Inspector General for the Troubled Asset Relief Program has opened an investigation into what was behind the decision to close thousands of dealerships, Oct. 15

 
UPCOMING SEMINARS

NADA University's Executive Summit to Improve Online Sales & Marketing in Las Vegas (Oct. 18-20)

ADESA/NADA University Present "Free" 'Industry Insight' Series at ADESA Golden Gate in Tracy, Calif. (Oct. 21)

Webinar: Transitioning to New Model Privacy Notice (Oct. 27)

Advanced Service Management in Cerritos, Calif. (Nov. 1–5)  

Webinar: The New Risk-Based Pricing Rule (Nov. 3)

NADA's 'Dealer Day' Conference at 2010 SEMA Show in Las Vegas (Nov. 3)

Advanced Manage by the Numbers in Cerritos, Calif. (Nov. 8–12)


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2011 Workshop Program Features New 'Online' Track

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Used Car Guide



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NADA Member Wins HP Mini Notebook

Congratulations to D. Ward Drennen, III, of Don Drennen Motor Co Inc. in Birmingham, Ala., the winner of NADA's drawing for an HP Mini Notebook for responding to an e-mail survey on how dealers can make the most of technology. To learn more about discounted HP products go to NADA's PC Purchase Program site (member log in required)

 
Lenovo's Laptop Discounts

NADA members can use eCoupon USXOCTSAVINGS at checkout and save an additional 5% off the sale price of the ThinkPad L Series and the ThinkPad X Series and 10% off the sale price of the X Series Tablet. This offer expires Oct. 31. To learn more about this offer and other discounted Lenovo products go to NADA's PC Purchase Program site (member log in required)


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