For optimal viewing through your web browser or PDA, click here.

SPONSORED BY
NADA.org
Monday, Feb. 28, 2011 RSSSEND TO A FRIENDPRINT
nada.orgAdvocacyAffiliates | Convention | Jobs | Programs | Publications | Services | Training
Top 5 Stories
Auto Sales May Approach Highs Since 'Clunkers' as U.S. Rebounds
Behind a Rise in Auto Sales, Easier Credit
Volkswagen's 2010 Profit Roars to $9.4 Billion
Dealers Say Oil Spike Has Shoppers Thinking Small
So Many Cars, So Little Time
For more auto industry news, visit NADAFrontPage.com
Top 5 Stories
Auto Sales May Approach Highs Since 'Clunkers' as U.S. Rebounds

U.S. automobile sales in February may approach the fastest pace since the government’s “cash for clunkers” program as rising consumer confidence spurs purchases. Light-vehicle deliveries, to be released tomorrow, may have run at a 12.4 million annual rate, the average estimate of seven analysts surveyed by Bloomberg. Trucks and sport-utility vehicles continue to drive sales, with increases of more than 35 percent in February, according to J.D. Power & Associates. It is too early to determine if oil prices at the highest in more than two years will derail those gains going forward, said Dave Cutting, an analyst for the researcher in Troy, Michigan. Sales of new models such as Dearborn, Michigan-based Ford’s redesigned Focus compact and Chrysler Group LLC’s 300 sedan will boost industry sales this year, J.D. Power’s Cutting said. “Chrysler is still in wait-and-see mode,” he said. “A lot of their new models are not in dealerships yet.”
Source: Bloomberg

[back to top]

Behind a Rise in Auto Sales, Easier Credit

Detroit is crowing that the auto industry is back, but so far, at least, it is a success story built as much on a revival in lending as on the development of desirable cars. Borrowers of all types are now finding it much easier to obtain a loan compared with a few months ago. Dealers say the frenzied competition has made it possible for weaker borrowers — those denied credit even six months earlier — to finally obtain loans. AutoNation, for example, said that approvals for subprime customers reached 38 percent in the fourth quarter of 2010, compared with 18 percent a year earlier, amid only a modest increase in applications. “The biggest improvement started in December,” said Rick Flick, who runs Ford and Chevrolet dealerships in the New Orleans area. “The banks are getting aggressive again. They are calling us and asking why aren’t we sending them more business.”
Source: The New York Times

[back to top]

Volkswagen's 2010 Profit Roars to $9.4 Billion

BERLIN -- Germany's Volkswagen AG saw its 2010 earnings soar to euro6.84 billion ($9.4 billion) as revenue climbed more than 20 percent, creating the automaking group's most successful year ever, the company said Friday. CEO Martin Winterkorn said the company in 2010 put the economic crisis fully behind it and enjoyed "the best year in the history of the Volkswagen Group" in terms of revenue, operating and net profit. The company, based in Wolfsburg, also gave a bullish outlook as it sees strong growth in China and elsewhere, saying it expects revenue and operating profit this year to top its 2010 results. In the U.S., Volkswagen is betting in 2011 on the launch of its new Passat model, which is to go on sale sometime after July 1, with a base price of around $20,000.
Source: The Associated Press

[back to top]

Dealers Say Oil Spike Has Shoppers Thinking Small

Political unrest in Mideast puts mpg in the spotlight

Some auto dealers were quick to use concerns about political unrest in Libya and elsewhere in the Middle East, and the resulting spike in oil prices, as a sales tool last week. Bill Wallace, owner of Wallace Automotive Group in Stuart, Fla., handles 10 domestic and import brands. He is witnessing firsthand how quickly gasoline prices can influence the vehicles customers buy. Escalades and Lincoln Navigators have slowed, while the Hyundai Sonata and Elantra, Lincoln MKZ hybrid and diesel-equipped Volkswagen TDI have become "red hot," he says. Even Mazda is seeing a lot more action, he said. Customers have become particularly interested in the small Mazda3, which gets up to 33 mpg, he said. "Last night our Mazda showroom was packed," Wallace said. "It was like a delicatessen."
Source: Automotive News 

[back to top]

So Many Cars, So Little Time

GENEVA -- For the leading international auto shows, of which there are about half a dozen a year, bragging rights go to those with the most “world premieres” or the most introductions of new models specific to certain markets. On these counts, it would seem that the 81st Geneva International Motor Show, where two days of press previews begin Tuesday, has trumped its competition. While the North American auto shows of recent months — in Los Angeles, Detroit and Chicago — have struggled to line up two to three dozen significant new models, the organizers of the annual Geneva show promise “nearly 170 world and European premieres.” More than 40 of those will feature some sort of green technology. If the projections are correct, the number of premieres, about 170, would be something of a record — certainly for this show, and probably for any recent auto salon.
Source: The New York Times

[back to top]

For more auto industry news, visit NADAFrontPage.com

[back to top]

 
Quotable
 
"The banks are getting aggressive again."

    -- Rick Flick, who runs Ford and Chevrolet dealerships in the New Orleans area, on the revival in auto lending, The New York Times, Feb. 27

Video Highlights
 
 
Lentz to Dealers: Pay Attention to Women, Hispanics (NADA-TV)

 
Fiat's Laura Soave Speaks at Women Dealers' Breakfast (NADA-TV)

Sponsored by
                       

NADA University
 


 NADA Guide Book

Providing the most reliable
and most comprehensive
used-vehicle values since 1933


Scam Alert: Bogus Website and Fake Survey Have No Connection to NADA

Dealers and others are still receiving e-mail messages from “NADA Dealer Services,”
(nadanews@nadadealerservices
.com
) which refers to an “AdTrack” survey described as an “NADA program” that rates automotive direct mail companies. NADA did not conduct such a survey. NADA does not have an “AdTrack” program. The e-mail, Web site and survey HAVE NO CONNECTION WITH NADA. NADA’s legal affairs department is taking action to stop these misrepresentations.

GM's Dan Akerson to Keynote NADA/IHS Automotive Forum 2011
Register today for the second annual NADA/IHS Automotive Forum in New York City on April 19, 2011 hosted by the New York International Auto Show.

Your PC - Your Way from HP
Use eCoupon HPyNY11 at checkout to get 15 percent off the 6000, 6000 All-in-One, 6005 or Elite 8000 series.

NADA University Launches Three New Online Courses
New offerings posted to the NADA University Learning Hub include courses in the legal and parts categories.

Enroll Now for Spring Dealer Academy 2011 Classes
Spring 2011 classes include ATD Truck Dealer Academy, Dealer Candidate Academy and General Dealership Management Academy

Search Back Issues | Unsubscribe | Subscribe | Manage your subscription | email us
NADA For more information on NADA, visit www.nada.org or contact NADA, 8400 Westpark Drive, McLean, VA 22102. This email may contain an advertisement of NADA products and services. Any opinions or statements contained herein do not necessarily reflect the views of NADA. Factual errors are the responsibility of the listed publication. If you are a franchised new-car or -truck dealer and would like to become a member of NADA, please visit the Join NADA section of www.nada.org. Questions or comments concerning NADA Headlines content may be directed to media@nada.org.