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Top 5 Stories
Report: Toyota to Return to Full Output Sooner
Fiat Could Own 70 Pct of Chrysler Within the Year
GM to Add 4,200 in Job Blitz
Record Used Car Prices Pressure Dealers
Former General Motors CEO Stempel Dies at 77
Top 5 Stories
Report: Toyota to Return to Full Output Sooner

TOKYO -- Toyota's global car production, disrupted by parts shortages after Japan's March 11 earthquake and tsunami, will likely return to normal two to three months earlier than expected, a report said Tuesday. Toyota's production capacity was sorely hurt by the devastating earthquake and tsunami on March 11. The supply crisis has cost the company production of 400,000 vehicles in Japan, and 100,000 overseas. Toyota said last month its worldwide production will likely return to normal levels by November or December.
Source: The Associated Press

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Fiat Could Own 70 Pct of Chrysler Within the Year

DETROIT -- Italian automaker Fiat SpA could own more than 70 percent of Chrysler Group within a year once it repays its government loans and exercises other options, Chrysler said Monday in a filing with the U.S. Securities and Exchange Commission. Fiat may acquire the U.S. Treasury's 8.6-percent stake in Chrysler. That would potentially let the government exit the investment more quickly than if it waited for Chrysler to hold an initial public offering. Fiat expects to have a 51-percent stake in Chrysler by the end of this year after meeting certain government-set goals, including introducing a 40-mile-per-gallon car.
Source: The Associated Press

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GM to Add 4,200 in Job Blitz

General Motors plans to kick off a hiring blitz today that will add or preserve about 4,200 jobs in eight states, including up to 2,000 in metro Detroit, people familiar with the planning said. GM CEO Dan Akerson is to speak today at GM's Toledo transmission plant, heralding updates at 17 plants that will total more than $2 billion. As part of its upcoming wave of new hires, General Motors plans to deepen its bet on its extended-range electric technology. GM is seeking to build more than 25,000 Volts this year, up from the original target of about 10,000, Akerson has said. Akerson has said he wants GM to bet on the Volt's technology more than any other electrification solution.
Source: Detroit Free Press

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Record Used Car Prices Pressure Dealers

With used car prices at record highs, auto dealers are trying harder to get customers to trade in their old cars for new ones. AutoNation, the largest U.S. new car dealer chain, plans to hang tags from the mirrors of late-model, fuel-efficient cars brought in for service telling customers they can get top dollar if they trade that car for a new one. The price run-up adds to the woes of an auto industry already beset by looming shortages of new cars in the wake of the Japanese disaster. Also driving up demand is a recovering economy and, in the case of fuel-thrifty used cars, gas prices exceeding $4-a-gallon in many states. Auto dealers face a "mixed bag" in coping with higher used car prices, says Efraim Levy, analyst for Standard & Poor's Equity Research. They sell them for more to customers, but paid more for them at auction or as trade-ins, so "the overall profit is pretty much the same."
Source: USA Today

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Former General Motors CEO Stempel Dies at 77

DETROIT -- Former General Motors CEO Robert Stempel, who led the automaker during a turbulent period of recession and restructuring in the early 1990s, has died at the age of 77. "Bob was a very popular chairman with employees, and his many accomplishments as a visionary engineer included leading the development of the catalytic converter, one of the great environmental advancements in auto history," GM said in a statement. "His knowledge of battery development led to the push for the EV1 electric car, and Bob continued to build his expertise in the electrification of the automobile after he left GM in 1992." Stempel died Saturday in Florida, the Detroit News and Detroit Free Press reported [Monday].
Source: Automotive News

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NADA Used Car Guide Redesigns Website
Follow along as editors of the NADA Used Car Guide blog about changes in the used-car and -truck markets on the guide's revamped website, www.nada.com/b2b.

Dealer Executive Education at Babson College August 2011 Class Forming Now
Babson College has the nation's No. 1 ranked MBA program for entrepreneurship, a distinction it has earned for 17 consecutive years.

May Discounts From Lenovo
NADA members can use eCoupon USXMAYSAVINGS2011 at checkout to get an additional 8% off IdeaPad Y Series and an additional 10% off IdeaCentre All in One Desktops.

HP's Inventory Blowout
NADA members can save $330 on HP's Compaq 6005 Pro Small Form Factor Desktop PC and $440 on HP's Compaq 800 Elite Small Form Factor PC with free U.S. ground shipping.

 
NADAFrontPage.com
For comprehensive auto industry news, visit the online news magazine NADAFrontPage.com.
Quotable
"There are a lot of people (still making payments) who don't know they have equity in their cars."

    -- Mike Maroone, president of AutoNation, which plans to hang tags from the mirrors of late-model, fuel-efficient cars brought in for service telling customers they can get top dollar if they trade their used cars for new ones, USA Today, May 9

Video Highlights
 
GM Sales Chief Discusses Progress, Challenges Ahead (AutoFocus) 

 
Analyst Says Gas Prices Affecting Small, Midsize Used Markets (AutoFocus)


NAD Charitable Foundation Supports Wounded Veterans Initiative (NADA-TV)

Tornado Relief


Upcoming Webinars

Wednesday, May 11, at 1 p.m. (Eastern): “Rein in Out-of-Control Technology Costs,” with Paul R. MacDonald, president of TriMac Automotive Advisory Group

Wednesday, May 18, at 1 p.m. (Eastern): “One-Price Selling: In Sync with Today’s Auto Purchasers,” presented by Mark Rikess, CEO of The Rikess Group


NADA Used Car Guide

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


Alert: Bogus Webpage Mimics NADAguides.com

A bogus website, http://nadaguides.zxq.net/
vehicle/purchase/protection
, has been set up to look like the legitimate website of NADAguides.com. The fraudulent Web page offers services for “Auto Purchase Protection” and facilitates the transfer of funds between buyers and sellers. This Webpage has no connection with NADA or NADAguides.com. NADA is attempting to shut down the site. It appears to be hosted overseas.
Source: NADA Legal Affairs

 
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