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Top 5 Stories
Hyundai Motor First-Quarter Profit Rises 46% on More Expensive, New Models
Chrysler to Repay Government Aid by End of June with Loans, Debt Sale
Forecast: Green Car Sales Face Limits
Back in the Black: Ford Solves Japanese Paint Problem
NADA-TV: NADA Foundation Supports Wounded Veterans Initiative
Top 5 Stories
Hyundai Motor First-Quarter Profit Rises 46% on More Expensive, New Models

Hyundai Motor Co, South Korea’s largest carmaker, raised quarterly profit 46 percent as sales climbed in China, Europe and the U.S. Hyundai Motor lifted global sales by about 9 percent last quarter from a year earlier after adding new models including the Grandeur premium sedan at home and Accent small car in China since late 2010. Toyota, which may lose its top spot as the world’s largest carmaker because of reduced output following the 9-magnitude quake and tsunami that struck Japan on March 11, estimated in April that it would need until at least November to return production to pre-quake volumes. In contrast, Hyundai and Kia are running their U.S. plants overtime, unscathed by parts shortages, the companies said earlier this month. “Chaos brings disorder and that’s the time you see changes in ranks among leaders,” said [Lim Jeong Seok, head of equity at KDB Asset Management Co.] “The past financial crisis and the recent earthquake may be an opportunity for Hyundai to pass bigger rivals.”
Source: Bloomberg

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Chrysler to Repay Government Aid by End of June with Loans, Debt Sale

Chrysler said today it intends to pay off its $7.5 billion in government loans with the proceeds of a debt offering, an investment from Fiat and a new loan agreement with banks. The Auburn Hills-based automaker said it plans to use the proceeds of the term loan and the debt offering, with the $1.27 billion that Fiat said it would invest in Chrysler last week to acquire an additional 16% in Chrysler to pay off the government loans. Chrysler owes $5.8 billion to the U.S. Treasury and $1.7 billion to the Canadian governments as part of a 2009 restructuring that allowed it to emerge from Chapter 11 bankruptcy. Chrysler said today it plans to complete the repayment by the end of June.
Source: Detroit Free Press

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Forecast: Green Car Sales Face Limits

J.D. Power expects market share below 10% through 2016

WASHINGTON — Despite rising gas prices, hybrids and electric vehicles will remain below 10 percent of the U.S. market through 2016, a leading automotive forecaster predicts in a study released [Wednesday]. J.D. Power and Associates said in its 2011 U.S. Green Automotive Study that growth in the sales of vehicles with alternative powertrains will be limited by consumer concerns about costs and function. "Alternative powertrains face an array of challenges as they attempt to gain widespread acceptance in the market," said Mike VanNieuwkuyk, executive director of global vehicle research at J.D. Power and Associates. "The bottom line is that most consumers want to be green, but not if there is a significant personal cost to them." 
Source: The Detroit News

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Back in the Black: Ford Solves Japanese Paint Problem

DETROIT -- Ford said [Wednesday] it has found nonmetallic black and metallic red paints to replace colors that were not available after the March 11 Japan earthquake. "Our team has done a wonderful job of putting in replacement colors and those will be produced in the June and July time frame," Mark Fields, Ford's president of the Americas told Automotive News. "The order bank is now open again." Six other metallic colors in Ford Motor Co.'s lineup will go out of production in the next few weeks and months because of the shortage of Xirallic, Ford spokesman Todd Nissen said. Ford will replace those colors with similar metallic shades, he said. "In the end dealers and customers will still have a full range of colors to pick from," Nissen said. The color replacement will not affect vehicle pricing, he said.
Source: Automotive News

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NADA-TV: NADA Foundation Supports Wounded Veterans Initiative

Support a wounded veteran in your community by making a contribution to NADA’s Frank E. McCarthy Memorial Fund

McLEAN, Va. – The National Automobile Dealers Charitable Foundation has expanded its support for a nationwide program that provides skilled companion dogs at no cost to physically disabled children and adults—and for the first time—includes U.S. war veterans injured in Afghanistan and Iraq. Earlier this month, Retired Army Sgt. Sam Cila of Riverhead, N.Y., and his service dog Gillian, were the beneficiaries of the NADA Foundation’s first $10,000 grant to the Wounded Veterans Initiative of Canine Companions for Independence. Cila, who lost most of his left arm during an ambush in Baghdad on July 4, 2005, tells NADA-TV in a new report that Gillian has "rounded out my new team." "She acts as my left hand," he says. "But more importantly, she's my teammate. Gillian has made me stronger as an individual because I can live a more active lifestyle with her at my side." Click here to view the NADA-TV report.
Source: NADAFrontPage.com

Editor's note: If you’re interested in providing a service dog for a wounded veteran in your community, contact the NADA Foundation at (703) 821-7102 or Foundation@nada.org.

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For more auto industry news, visit NADAFrontPage.com

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Quotable
"She acts as my left hand. But more importantly, she's my teammate."

    — Retired Army Sgt. Sam Cila of Riverhead, N.Y., in an interview with NADA-TV about his service dog Gillian, provided to him through the support of the National Automobile Dealers Charitable Foundation, NADAFrontPage.com, April 28

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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

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