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Thursday, March 10, 2011 RSSSEND TO A FRIENDPRINT
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Top 5 Stories
GM, Va. Dealers Reach Agreement on Facilities Spiffs
FTC Asks NADA to Participate in Upcoming Panels on Vehicle Purchasing and Financing
GM CFO Liddell to Leave Company
Conventional Gas-Powered Cars Starting to Match Hybrids in Fuel Efficiency
Researchers Show How a Car's Electronics Can Be Taken Over Remotely
For More Auto Industry News, Visit NADAFrontPage.com
Top 5 Stories
GM, Va. Dealers Reach Agreement on Facilities Spiffs

DETROIT -- General Motors Co. has reversed plans to end a program in Virginia that reimburses dealers for improving their facilities. GM and the Virginia Automobile Dealers Association have agreed on changes to a recently passed bill that would shield dealers from making factory-directed store overhauls, both sides said (Wednesday). GM told its Virginia dealers that it would terminate the program in Virginia as of March 31, citing the bill. Don Hall, VADA's president, said the proposed law will protect dealers from having to spend money on a new facility program even before they've paid off the last one. Hall said: "It would protect them from having to make changes every three or four years at the whim of the manufacturer."
Source: Automotive News

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FTC Asks NADA to Participate in Upcoming Panels on Vehicle Purchasing and Financing

The Federal Trade Commission (FTC) has requested that NADA representatives serve as industry experts at a series of informal discussions the agency will be holding to explore consumer protection issues relating to the purchasing and financing of cars and trucks. The FTC announced these discussions Wednesday and indicated that the first of them will take place in Detroit on April 12. The Commission explained that, in connection with the expedited rulemaking authority it received under the Dodd-Frank financial reform act, it is seeking to expand its understanding of the car buying process and vehicle financing issues to determine what additional regulations, if any, may be necessary to protect consumers. "NADA will present a strong case that dealer-assisted financing increases access to, and decreases the cost of, credit for car buyers," said Gary Reynolds, chairman of NADA's Regulatory Affairs Committee. "Additionally, dealer representatives will highlight both the actions of dealers and NADA to increase financial literacy among consumers as well as our long-standing and ongoing efforts to promote regulatory compliance among franchised dealers."
Source: NADA Regulatory Affairs

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GM CFO Liddell to Leave Company

DETROIT - General Motors Co said on Thursday that Chief Financial Officer Chris Liddell will leave a little more than a year after joining the U.S. automaker from software giant Microsoft Corp. Liddell, 52, will leave GM on April 1. He joined the company in January 2010 and saw it through its record initial public stock offering last November. "I came to General Motors to be part of something great," Liddell said in a statement. "My objective was to help rebuild this iconic company." Dan Ammann will succeed Liddell as CFO. The 38-year-old executive, who joined GM in March 2010, is currently vice president, finance and treasurer.
Source: Reuters

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Conventional Gas-Powered Cars Starting to Match Hybrids in Fuel Efficiency

The new Chevrolet Cruze Eco can reach eye-popping fuel economy levels of more than 50 miles per gallon on the highway, which even in this era of hybrid-electric cars stands among the best. But here's the real trick: The Cruze Eco is neither a hybrid nor electric. It runs on that "old" technology, the conventional gasoline engine. Likewise, the new Ford Focus, with its "super fuel economy" package, is rated at 40 mpg and the Hyundai Elantra gets the same fuel economy, standard in all models. With the recent spike in gas prices reawakening consumer interest in fuel economy, the new cars are expected to be particularly appealing, in part because they are typically less expensive than their hybrid counterparts.
Source: The Washington Post

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Researchers Show How a Car's Electronics Can Be Taken Over Remotely

With a modest amount of expertise, computer hackers could gain remote access to someone’s car — just as they do to people’s personal computers — and take over the vehicle’s basic functions, including control of its engine, according to a report by computer scientists from the University of California, San Diego and the University of Washington. “This report explores how hard it is to compromise a car’s computers without having any direct physical access to the car,” said Stefan Savage of the University of California, San Diego, who is one of the leaders of the research effort. The researchers declined to speculate about the worse situations, such as interfering with a vehicle’s control system to make it crash. However, they noted that their research showed how a next-generation car thief might operate: instead of using today’s so-called smash and grab tactics, the thief might be able to simply dial up a parked car, unlock its doors and turn on the engine, then arrive on the scene and drive off. “Everyone has taken this extremely seriously,” said Dr. Savage.
Source: The New York Times

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For More Auto Industry News, Visit NADAFrontPage.com

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Quotable
 
"NADA will present a strong case that dealer-assisted financing increases access to, and decreases the cost of, credit for car buyers."

    -- Gary Reynolds, chairman of NADA’s Regulatory Affairs Committee, stating a key argument that NADA representatives will present to FTC officials at upcoming meetings on vehicle purchasing and financing, March 9

Video Highlights
 

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


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

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