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Top 5 Stories
New-Car Sales Headed for Double Digit Percentage Gains
NADA Guide Analyst: Car Shoppers Will Benefit from High Trade-in Values in 2011
Ford to Reduce Lincoln Dealers in U.S. Metro Markets by 25%
NADA-TV: Dealers Descend on San Francisco; Mood Upbeat
After 3 Lean Years, Dealers Adding Jobs
Top 5 Stories
New-Car Sales Headed for Double Digit Percentage Gains

NADA Economist Paul Taylor Provides 2011 Economic Forecast

SAN FRANCISCO -- Paul Taylor, chief economist of the National Automobile Dealers Association (NADA), said Sunday new-vehicle sales will reach 12.9 million units in 2011 as consumers benefit from higher trade-in equity and improving credit. Last year, 11.55 million light vehicles were sold. A market of 12.9 million new vehicle sales this year would be a nearly 12 percent increase over 2010. But Taylor warns that declining real estate values in many states have caused some consumers to pull back on large purchases like cars, and that trend will continue to play a role in new-car sales in 2011. “The problem in the real estate market is too many houses,” Taylor said at the NADA Convention and Expo in San Francisco, which ends today. “The car market has too few used vehicles.”
Source: NADAFrontPage.com

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NADA Guide Analyst: Car Shoppers Will Benefit from High Trade-in Values in 2011

Jonathan Banks Addresses Media at NADA Convention

SAN FRANCISCO – Rising consumer confidence, an aging fleet and greater access to credit are key factors that will increase consumer demand for used cars and trucks in 2011, said Jonathan Banks, executive automotive analyst for NADA Used Car Guide. “The used-car market is providing clear signs that the auto industry has entered a new phase,” Banks said Sunday at the NADA Convention and Expo in San Francisco, which runs through Monday at the Moscone Center. Banks highlighted five factors that will boost used-vehicle sales this year. “Consumers will benefit from high trade-in values in 2011, which will help facilitate a new-vehicle purchase,” Banks added. “This should have a positive impact on consumers with trade-ins of all ages, conditions and types and aligns well with pent-up demand to replace vehicles.”
Source: NADAFrontPage.com

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Ford to Reduce Lincoln Dealers in U.S. Metro Markets by 25%

Ford Motor Co. plans to reduce the number of its Lincoln dealerships in the biggest U.S. metropolitan markets by 25 percent. Ford wants 325 Lincoln dealerships in those markets, from 434 outlets at the end of last year, Ken Czubay, vice president of U.S. sales, service and marketing, told reporters today at the National Automobile Dealers Association convention in San Francisco. If dealer deliveries per store don’t improve, “then the transformation of Lincoln is going to need a different plan,” Jim Farley, Ford’s global marketing chief, told reporters (Sunday).
Source: Bloomberg

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NADA-TV: Dealers Descend on San Francisco; Mood Upbeat

Thousands of dealers from 30 countries descended upon San Francisco's Moscone Center this weekend for NADA's 94th annual Convention and Expo. Attendance at the convention is up 15 percent over 2010, said NADA President Phil Brady. And the mood on the expo floor is upbeat. "It's really good to come in this year and see all the smiles on dealers' faces," Mark Fields, executive vice president, Ford Motor Co., told NADA-TV. GM's Mark Reuss said the company is working with its dealers to improve the "dealership experience." "Now it's time to really concentrate with our dealers on exploring service, the delivery, the whole dealership experience," said Reuss.
Source: NADA-TV

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After 3 Lean Years, Dealers Adding Jobs

After three tough years of personnel cuts and hiring freezes, many new-car dealers are preparing to add staff in 2011. Rising light-vehicle sales and the improving economy are spurring some dealers to look for help. The spike in dealership closures also has generated more business for surviving retailers. "The dealers need additional capacity to handle those customers," says Paul Taylor, chief economist for the National Automobile Dealers Association. In 2009, employment at U.S. dealerships dipped below 1 million for the first time since 1995, NADA figures show. The total had been about 1.1 million since 2000 until the credit crisis hobbled the industry in late 2008. Taylor expects total employment could top 1 million again in 2011.
Source: Automotive News

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Quotable
 
"We have many strong indicators that the auto industry is making a comeback and will lead to increased sales in 2011."

    -- Paul Taylor, NADA chief economist, who said Sunday at a press conference during the NADA convention that new-vehicle sales with reach 12.9 million units this year, NADAFrontPage.com, Feb. 6



"The used-car market is providing clear signs that the auto industry has entered a new phase."

    -- Jonathan Banks, executive automotive analyst for NADA Used Car Guide, in remarks Sunday at the NADA convention, NADAFrontPage.com, Feb. 6

Video Highlights
 

NADA-TV: Opening of 2011 NADA Convention


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