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Tuesday, March 8, 2011 RSSSEND TO A FRIENDPRINT
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Top 5 Stories
Car-Buying Fuels Increase in Consumer Borrowing
Toyota's Global Sales of Hybrid Cars Top 3 Million
Key Automaker Execs to Participate in NADA/IHS Automotive Forum 2011
Ford Dealers: We Need More Stock
Volvo Pioneers a Diesel Plug-In
For more auto industry news, visit NADAFrontPage.com
Top 5 Stories
Car-Buying Fuels Increase in Consumer Borrowing

WASHINGTON -- Consumers borrowed more in January to purchase new cars but were once again frugal with their credit cards, offering a mixed sign of their confidence in the economy. Strong car sales drove the increase. The category that includes auto loans rose 6.9 percent. Michael Gapen, senior U.S. economist at Barclays Capital, said he expects consumer spending to grow as much as 3.5 percent in 2011, about double last year's gain. "The passage of the tax package in December and the on-going improvement in labor market conditions will mean households will have more disposable income, which will help consumption," Gapen said. The rise in auto loans marked the sixth consecutive month that this category has increased, reflecting a rebound in auto sales.
Source: The Associated Press

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Toyota's Global Sales of Hybrid Cars Top 3 Million

TOKYO -- Toyota Motor Corp. said Tuesday that global sales of its hybrid models have topped 3 million vehicles on the back of brisk demand for the Prius. The Prius, the world's first mass-produced hybrid car, alone accounts for 72 percent of Toyota's global hybrid car sales. Last year, Toyota sold 7.53 million vehicles worldwide and 690,000 of those were hybrids. Over 60 percent of Toyota's hybrid sales come from abroad with the rest in Japan. In North America, Toyota's hybrid sales have surged to 1.15 million vehicles from just 5,790 in 2000.
Source: The Associated Press

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Key Automaker Execs to Participate in NADA/IHS Automotive Forum 2011

GM CEO Akerson also slated to address conference

NEW YORK -- Top automaker executives will present an industry outlook at one of four panel discussions next month during the second annual Automotive Forum, sponsored by NADA and IHS. The NADA/IHS Automotive Forum, "The Road Ahead for the New Automotive World: Risk, Reward and Opportunity," will be held at the Hilton New York on Tuesday, April 19. The forum, hosted by the New York International Auto Show, will bring together industry thought leaders to discuss critical issues facing automakers, suppliers and dealers. GM Chairman and CEO Dan Akerson will deliver the keynote address. Other forum speakers include NADA Chairman Stephen Wade; Nariman Behravesh, IHS chief economist; Chip Perry, president and CEO of AutoTrader.com; and Dean Evans, chief marketing officer of Dealer.com. For the full agenda or to register, visit www.autoforumny.com.
Source: NADAFrontPage.com

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Ford Dealers: We Need More Stock

Ford-Lincoln dealer O.C. Welch III, starving for inventory, is losing sales. "I lost a customer that has bought four cars from my dealership," says Welch, president of O.C. Welch Ford-Lincoln in Hardeeville, S.C. "They came here to buy a new Focus compact. I had two S models in stock. They went to Toyota where they had 50 Corollas to choose from." Welch is one of many Ford and Lincoln dealers across the country who say they can't get enough vehicles. Welch typically sells about 1,000 new vehicles a year. Ford allocated just 13 new vehicles to Welch for March. He says that's not enough to compete. "While the rest of the country has March madness, the Ford and Lincoln dealers have March sadness," he says.
Source: Automotive News

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Volvo Pioneers a Diesel Plug-In

A pioneering plug-in diesel-electric hybrid V60 is star of the Volvo stand at the 2011 Geneva Motor Show, proving decisively that the Swedish automaker can offer more than just safe, practical cars. It can now make fast, "green" ones, too. Diesel and hybrid aren't usually two words you'd associate with excitement, but we'll make an exception in the case of the V60. It promises to be a fast car, with nearly 300 horses under the hood, and it emits only a paltry 49g/km of carbon dioxide. It's a conventional diesel estate and a zero-emissions electric car, and will most likely offer exciting performance, too. What more do you want?
Source: MSN Autos

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For more auto industry news, visit NADAFrontPage.com

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Quotable
 
"The passage of the tax package in December and the on-going improvement in labor market conditions will mean households will have more disposable income, which will help consumption."

    -- Michael Gapen, senior U.S. economist at Barclays Capital, who says strong car sales are driving the increase in consumer borrowing, The Associated Press, March 7

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GM's Dan Akerson to Keynote NADA/IHS Automotive Forum 2011
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