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Top Stories
Fed Gears Up for Stimulus
Toyota, Honda Lead Quality Rankings But GM Gains
Used Car Sales Boost U.S. Dealers Amid Slow Recovery
All That Hype Won't Sell Electric Cars
In its Biggest Foreign Market, BMW Gets Skilled Workers for Less
BMW Recalling 130,000 Cars for Problems With Its Twin-Turbo Engine
Electric Cars Need 2 Years of Government Aid: Renault CEO
IRS Continues to Dodge Questions on 1099 Rule
Opinion: U.S. Has Had a Big Hand in Ford's Rise
Top Stories
Fed Gears Up for Stimulus

Eyes Gradual Bond Buying of Several Hundred Billion Dollars; Doubts Linger

The Federal Reserve is close to embarking on another round of monetary stimulus next week, against the backdrop of a weak economy and low inflation—and despite doubts about the wisdom and efficacy of the policy among economists and some of the Fed's own decision makers. (Read more)
Source: The Wall Street Journal 

Editor's Note: NADA Chief Economist Paul Taylor says the Fed’s bond purchases may lower the yield of the 10-year Treasury note slightly. “Other long-term interest rates will fall somewhat,” Taylor said. “This should help business investment, but only if the banks lend money at these lower rates.” Taylor predicted that vehicle sales will benefit from lower interest rates and from the refinancing of home mortgages, which will assist household cash flow.

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Toyota, Honda Lead Quality Rankings But GM Gains

DETROIT -- The most problem-free cars and trucks are made by Honda and Toyota, but U.S. automakers Ford and General Motors are closing the gap in quality, according to an annual survey by Consumer Reports magazine. (Read more)
Source: The Associated Press

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Used Car Sales Boost U.S. Dealers Amid Slow Recovery

Major U.S. auto dealerships reported double-digit jumps in used vehicle sales for the third quarter, a sign that car shoppers remain cautious in the midst of a sluggish U.S. economic recovery. (Read more)
Source: Reuters

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All That Hype Won't Sell Electric Cars

NEW YORK -- If you thought electric cars were about to take over the world's highways, a new report by auto analysts at J.D. Power Associates says, "Not so fast." By 2020, the vast majority of new cars sold around the world will run on gasoline, not electricity, according to the report "Drive Green 2020: More Hope Than Reality." (Read more)
Source: CNNMoney.com

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In its Biggest Foreign Market, BMW Gets Skilled Workers for Less

GREER, S.C. - When German automaker BMW put out the call recently to hire a thousand factory workers here, the people who responded reflected the upheaval occurring in the U.S. economy. Some held college degrees and resumes in other fields where they made more money. But they're all in the factory now making $15 an hour - about half of what the typical German autoworker makes. (Read more)
Source: The Washington Post

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BMW Recalling 130,000 Cars for Problems With Its Twin-Turbo Engine

BMW is recalling about 130,000 2007–10 vehicles because of emissions problems involving the twin-turbocharged 6-cylinder engines used on many of its most popular models. (Read more)
Source: The New York Times

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Electric Cars Need 2 Years of Government Aid: Renault CEO

Electric cars will need two years of government support in developed markets before they can take off on their own, Renault Chief Executive Carlos Ghosn said on Tuesday. (Read more)
Source: Reuters 

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IRS Continues to Dodge Questions on 1099 Rule

Despite repeated requests from House Small Business Committee ranking member Sam Graves (R-Mo.) for how the IRS intends to implement the 1099 reporting rule, IRS Commissioner Douglas Shulman continues to decline to provide him the information. (Read more)
Source: The Hill

Editor's Note: Without Congressional action, beginning Jan. 1, 2012, all businesses will have to file “1099” forms with the IRS anytime they purchase $600 or more from a vendor, creating a significant administrative and cost burden. NADA, along with other business organizations, is actively working to repeal the new 1099 form requirement. Dealers should urge Members of Congress to support efforts to fully repeal this burdensome requirement before it takes effect.

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Opinion: U.S. Has Had a Big Hand in Ford's Rise
By Tom Walsh

Ford Motor and CEO Alan Mulally get a lot of credit, deservedly so, for the discipline and laser-like focus on cost control and product quality that enabled the automaker to post another impressive quarterly report Tuesday, with profits up 68% to $1.7 billion for the three months ended Sept. 30. A close comparison of Ford's U.S. and European numbers, though, also shows that the company owes a big debt of gratitude to the oft-maligned U.S. government. (Read more)
Source: Detroit Free Press

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Quotable
 
" ... Among consumers in the U.S. who initially say they are interested in buying a hybrid vehicle, the number declines by some 50 percent when they learn of the extra $5,000, on average, it would cost to acquire the vehicle."

    -- John Humphrey, senior vice president of automotive operations at J.D. Power and Associates, which predicts the vast majority of new cars sold around the world in 2020 will run on gasoline, not electricity, CNNMoney.com, Oct. 27



"Two years of government support are needed to jump-start these markets and then the products will grow on their own and take off."

    -- Carlos Ghosn, Renault chief executive, who says electric cars will need two years of government aid before they can take off on their own, Reuters, Sept. 27

Video Highlights
 

NADA Convention Chairman Jack Caldwell: Registration Numbers Ahead of Last Year

 
UPCOMING SEMINARS

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)

To register for NADA U training, sign in to NADA U, then go to the NADA U Store, select “Webinars & Seminars” under “Products,” and follow the ordering instructions.


NADA Convention

‘Aftermarket Zone’ at the NADA Convention Sells Out

The “Aftermarket Zone” at the 2011 NADA Convention & Expo in San Francisco has sold out. The “Aftermarket Zone,” which has doubled in size since debuting at the 2010 convention, will showcase 15 companies in more than 8,000 square feet of booth space. For more information, click here.


Used Car Guide



Guides | Data | Integrated Solutions | Analysis


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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