View Mobile Version | View Web Version

SPONSORED BY
NADA.org
Wednesday, April 27, 2011 RSSSEND TO A FRIENDPRINT
nada.orgAdvocacyAffiliates | Convention | Jobs | Programs | Publications | Services | Training
Top 5 Stories
Ford Posts Best 1Q Profit in 13 Years
Toyota Financial Offers Aid to Dealers as Car Supplies Dwindle
Dealers: Supply Woes to Slow U.S. Auto Sales
Chrysler Nearing Deal to Refinance Aid
Catalytic Converter Thefts on Rise
Top 5 Stories
Ford Posts Best 1Q Profit in 13 Years

DETROIT -- Ford posted its best first-quarter profit in 13 years, as its new, more fuel-efficient vehicles reached showrooms during a surge in gasoline prices. New arrivals such as the Ford Explorer and Fiesta small car are selling well. Company profits are growing around the world. And Ford is charging more for its cars, helping offset higher commodity costs. Ford Motor Co. on Tuesday said its profit jumped 22 percent to $2.6 billion profit, its best first-quarter performance since 1998. It was the company's eighth straight quarterly profit in its long climb back from near-bankruptcy five years ago. "Our team delivered a great quarter, with solid growth and improvements in all regions," Ford President and CEO Alan Mulally said.
Source: The Associated Press

[back to top]

Toyota Financial Offers Aid to Dealers as Car Supplies Dwindle

LOS ANGELES -- Toyota is supporting U.S. dealers by launching an array of incentives and financial aid to combat thinning vehicle inventories due to Japan's earthquake. "These incentives are there to help dealers maintain their profitability," said Toyota Financial Services spokesman Justin Leach. Toyota also is becoming more aggressive in the used-car market by offering vehicles through closed auction for two weekends instead of one. Additionally, if a dealer buys a car through Toyota's "Dealer Direct" auction program, and the car does not sell within 60 days, Toyota will buy the vehicle back for 100 percent of the purchase price, Leach said.
Source: Automotive News

[back to top]

Dealers: Supply Woes to Slow U.S. Auto Sales

U.S. dealership groups projected slower U.S. sales growth this year because of supply disruptions stemming from last month's earthquake and tsunami in northern Japan, sending shares down more than 3 percent. AutoNation Inc, the largest U.S. auto dealership group, cut its full-year U.S. sales forecast from 12.8 million vehicles to the mid-12 million range. Group 1 Automotive said U.S. sales this year would likely be around 12.5 million, toward the low end of its previous full-year range. Group 1 said deliveries of Japanese vehicles could drop between 30 and 50 percent this summer, which would constrain sales in the second and possibly third quarter. "It doesn't mean we can't continue to grow, but it is clearly going to hit our growth rate," Group 1 CEO Earl Hesterberg told analysts on a conference call, referring to the expected drop in deliveries.
Source: Reuters

[back to top]

Chrysler Nearing Deal to Refinance Aid

DETROIT -- Details are still being worked out, but Chrysler Group LLC on Thursday will make an announcement about a refinancing package that will repay its government loans, according to a person briefed on the matter. Final details are likely to be revealed Monday, when Chrysler releases its first-quarter financial results, said the person, who asked not to be identified because the company is still negotiating the package with banks. The refinancing would allow Chrysler to repay $5 billion that it still owes the U.S. government and $1.6 billion that is owed to Canada, money the governments loaned the automaker to keep it alive and get it through a 2009 bankruptcy filing.
Source: The Associated Press

[back to top]

Catalytic Converter Thefts on Rise

Across the country, the problem of catalytic converter theft is on the rise again, as the price of platinum, rhodium and palladium — the metals found inside them — rises. Gary Bush, the national law enforcement liaison and director of theft prevention at the Institute of Scrap Recycling Industries, said he has seen a rise in all types of scrap and recycling theft in the past two months. "Anything that's not nailed down, and in some cases stuff that is, is being stolen," he said. Amid the increase in thefts, Jim Dusa, president of CatClamp, based in Toledo, Ohio, said business has been up. CatClamp manufactures a cage-like device, which sells for $150, that fits around a vehicle's converter and makes it harder to steal. Tests that CatClamp did found converters can be removed with a saw in 12 seconds.
Source: USA Today

[back to top]

For more auto industry news, visit NADAFrontPage.com

SAVE on HP's ProBook 4520s Notebook PC
Enjoy tremendous savings of 46 percent on the ProBook 4520s Notebook PC.

Save with Lenovo in April
Save an additional 5 percent on the durable ThinkPad X series and ThinkPad Edge with eCoupon USXAPRILSAVINGS2011 at checkout.

 
Quotable
"Anything that's not nailed down, and in some cases stuff that is, is being stolen."

    — Gary Bush, the national law enforcement liaison and director of theft prevention at the Institute of Scrap Recycling Industries, who says catalytic converter theft is on the rise, USA Today, April 27

Featured Videos

Dogs Help Wounded Vets Recover (WJLA, Arlington, Va.)

 
NADA Analyst Jonathan Banks Discusses Japan's Effect on Used-Car Market (AutoFocus)

 
NADA Chairman Stephen Wade on Personal Side of Japan Disaster (AutoFocus)


On the Job Hunt: Dealerships Are Hiring (Fox News)

Sponsored by
                       

NADA Japan Relief


NADA University

Advanced Parts and DMS Management
Presented by Chris Bavis
May 2–6, 2011
 
Advanced Variable Operations
Presented by Les Abrams and Bill Adkins
May 23–27, 2011

  


NADA Used Car Guide

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


Alert: Bogus Survey Misrepresents NADA

Dealers have reported receiving emails with “NADA Preferred Mail Company Info” in the Subject line. The email refers to an NADA survey of direct mail companies. NADA has not undertaken such a survey, nor authorized any other party to perform a survey on behalf of NADA. The company involved has agreed to stop any references to the bogus survey. Information about the phony survey originated in emails from www.nadadealerservices.com, a website that is also bogus and has no connection to NADA.
Source: NADA Legal Affairs

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.