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Top 5 Stories
Toyota Surges on Raised Profit Outlook, U.S. Government Report on Recalls
Bill Blocks Tailpipe Emissions Limits
High Used-Car Prices Spur New-Car Sales
Ally Uses NADA Vehicle Values in 38 States
Dealers Should Encourage Staff to Read Social-Media Reviews
Top 5 Stories
Toyota Surges on Raised Profit Outlook, U.S. Government Report on Recalls

Toyota Motor Corp. rose to the highest in nine months in Tokyo trading after a U.S. government report found no link between electronics in the company’s vehicles and sudden acceleration incidents and the carmaker raised its profit outlook. NASA, the U.S. space agency, and the National Highway Traffic Safety Administration, or NHTSA, said yesterday their probe of possible electronics defects found no causes for unintended acceleration other than sticking accelerator pedals and floor mats that jammed the pedals. Those were the causes Toyota, the world’s largest automaker, had identified. “We feel that Toyota vehicles are safe to drive,” U.S. Transportation Secretary Ray LaHood said at a press conference in Washington. LaHood, who said in February 2010 Toyota owners should stop driving their recalled cars, said he later advised his daughter to buy a 2011 Toyota Sienna. She did.
Source: Bloomberg

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Bill Blocks Tailpipe Emissions Limits

Legislation would bar states from imposing their own rules
WASHINGTON — The top Republican on the House Energy and Commerce Committee wants to block the Environmental Protection Agency from setting tailpipe emissions limits. Rep. Fred Upton, R-St. Joseph, (Mich.) has introduced legislation that would have the effect of barring California and a dozen other states from also imposing their own emissions rules. The bill would overturn a 2007 Supreme Court decision that said the EPA can regulate greenhouse gas emissions under the Clean Air Act.  ... automakers oppose California's efforts to set their own tailpipe limits, and Ford Motor Co. and Toyota Motor Corp. each wrote letters to the House last month raising concerns. In 2009, automakers, the state of California and the White House reached a deal to hike fuel efficiency standards 40 percent to a fleetwide average of 34.1 miles per gallon by 2016 — a move that will cost automakers an estimated $51.5 billion. As part of the deal, California agreed not to set its own rules through 2016. Under Upton's bill, those regulations could remain in place, but the EPA and California would be barred from setting their own rules after 2017. The bill "allows NHTSA to continue to regulate fuel economy after 2016," Upton said.
Source: The Detroit News

Editor’s note: NADA will continue to advocate for a single national fuel economy standard that ensures vehicle choice and affordability are taken into consideration. California’s tailpipe emissions rules disregard job loss, consumer choice and other important national factors outside the state.

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High Used-Car Prices Spur New-Car Sales

SAN FRANCISCO – Auto makers ironically can thank a vibrant used-car market for helping to drive a projected 12% increase in new-vehicle sales this year, says Paul Taylor, the National Automobile Dealers Assn.’s chief economist. Taylor cites two main reasons why he expects pre-owned cars will play a big role in 2011 new-vehicle sales that he predicts will reach 12.9 million units. That compares with 11.5 million in 2010. One, because of high demand and low supply, used-car prices are strong. “That narrowing spread between used and new prices will help new-car sales,” Taylor says at the NADA annual convention here. A second reason used-car activities may aid new-car deliveries is the strong values of trade-ins. “Consumers are going to dealerships with equity in their used cars,” Taylor says.
Source: Ward's Dealer Business

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Ally Uses NADA Vehicle Values in 38 States

Ally Financial has began using NADA Used Car Guide’s vehicle values to underwrite consumer loan contracts in 38 states, the companies said. The change was effective Feb. 1. Ally previously used consumer values from Black Book in those 38 states and will continue to use Black Book for wholesale values in those states, spokesman Tony Sapienza said.
Source: Automotive News

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Dealers Should Encourage Staff to Read Social-Media Reviews

SAN FRANCISCO – Auto dealers should encourage staffers to visit online dealer reviews and similar social-media sites to see what people are saying about their stores. So says Charlene Li, a social-media expert and author of the book “Open Leadership." “Put monitoring tools in the hands of every employee, not just managers,” she says. “Make them aware of what’s happening. Employees become tuned in to the voice of the customer. Allowing people to listen and learn can be fantastic.” Li offers that advice at a Cars.com seminar during the National Automobile Dealers Assn. convention here. Well-run dealerships should welcome review sites “as a way to build customer loyalty and strong relationships,” she adds.
Source: Ward's Dealer Business

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Quotable
 
"Consumers are going to dealerships with equity in their used cars."

   
-- Paul Taylor, NADA chief economist, adding that used-car activities may aid new-car deliveries because of the strong values of trade-ins, Ward's Dealer Business, Feb. 7
Video Highlights
 

NADA-TV: Coverage of the 2011 NADA Convention


NADA Charitable Foundation Provides Canine Companion (NADA-TV)


What UNICAP Victory Means to Dealers (NADA-TV)

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