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Top 5 Stories
Big Jump in Private Jobs Bolsters Recovery Hopes
February Sales: Best Since the Bust
NADA Economist: $4.50 is Key Fuel Figure
Fire-Damaged Auto Parts Plant Back in Operation
Geneva's Best Concept Cars
For more auto industry news, visit NADAFrontPage.com
Top 5 Stories
Big Jump in Private Jobs Bolsters Recovery Hopes

The economic waiting game may soon be over, as businesses signal that they are finally willing to resume widespread hiring. In all, the nation added 192,000 jobs in February, a big jump from the 63,000 added the previous month, the Labor Department reported on Friday. Economists say they are hopeful the pace will soon pick up further. “Economic recoveries can be like a snowball rolling down a hill, in that it takes time to get some momentum,” said John Ryding, chief economist at RDQ Economics. “People hesitate until they feel that the recovery’s durable enough, and then they have a tendency to jump in. Maybe we’re finally getting to that jumping-in moment.”
Source: The New York Times

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February Sales: Best Since the Bust

Smart spiffs, slick tech helped

One way to read February: The auto industry is back. February light-vehicle sales jumped 27 percent over the same month last year. The 13.4 million annual selling rate broke through a four-month plateau in the low-to-mid-12 million range. What made it happen? Dealers say manufacturers offered inventive incentives that met changing consumer demand: less cash on the hood, richer leasing and financing deals and more lease pull-ahead deals. Automakers say dealers have sharpened use of new technology for customer relations -- replacing or supplementing mailings with quick-response media such as texting, e-mails, Facebook and Twitter.
Source: Automotive News

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NADA Economist: $4.50 is Key Fuel Figure

Paul Taylor, chief economist for the National Automobile Dealers Association, says gasoline will have to reach $4.50 a gallon before consumers change auto buying habits significantly. In 2008, people panicked and changed their spending habits when prices hit $3.50. "Generally it takes a level that consumers have not seen before," he said. "Gasoline prices in excess of $4.50 per gallon are likely to have a more dramatic increase upon consumer choices."
Source: Automotive News

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Fire-Damaged Auto Parts Plant Back in Operation

DETROIT -- Part of a Michigan auto parts factory that was shut down by a fire last week is back in operation. The blaze at the Magna International Inc. factory had forced General Motors and Mazda to cut production due to parts shortages. GM closed its Lordstown, Ohio, assembly plant on Friday and Monday. But the company now says production is expected to resume on Tuesday. Work will restart at an adjoining parts plant on Monday night.
Source: The Associated Press

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Geneva's Best Concept Cars

Wow! This year's Geneva Motor Show was rife with fabulous vehicles, showing — once again — that the auto industry is not only on the mend, but gaining pace. And you all know what that means: more and increasingly ambitious concept cars. Ironically, they all have to compete with an odd little Morgan 3-wheeler, which would be a concept for any other company. But here in Geneva, it's the first showing for a car that will actually be in customers' hands within a few months.
Source: MSN Autos

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For more auto industry news, visit NADAFrontPage.com

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Quotable
 
“Economic recoveries can be like a snowball rolling down a hill, in that it takes time to get some momentum. Maybe we’re finally getting to that jumping-in moment."

    -- John Ryding, chief economist at RDQ Economics, on Friday's Labor Department report that the nation added 192,000 jobs in February, a big jump from the 63,000 added the previous month, The New York Times, March 4

Video Highlights
 

Ciccolo: Life's Good Fortune Instills 'Driving Desire to Give Back' (NADA-TV)


McConnell Calls for Single, National Fuel Economy Standard (NADA-TV)

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