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Top 5 Stories
Chrysler to Repay Government Loans [Today]
VW Ready to Build Autos in U.S. Again
NADA: Trade-In Values for Used Cars Expected to Rise in June
More Kia Dealers OK Renovation
Toyota's 'Centralized' Management Cited in Slow Recall Response
Click here for NADA's online newsroom at NADAFrontPage.com.
Top 5 Stories
Chrysler to Repay Government Loans [Today]
The Associated Press

MACOMB TOWNSHIP, Mich. -- Chrysler CEO Sergio Marchionne said Monday that his company will save $300 million in interest a year when it repays $7.5 billion in U.S. and Canadian government loans on Tuesday. Chrysler plans to announce the repayment at a Detroit-area auto assembly plant [this] afternoon. To pay back the loans, Chrysler is issuing $3.2 billion in bonds and taking out $4.3 billion in bank loans. It also will use a $1.3 billion investment from Italian automaker Fiat SpA. In exchange, Fiat will increase its ownership stake in Chrysler to 46 percent.

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VW Ready to Build Autos in U.S. Again
The Detroit News

German automaker aims for bigger share of American market

Chattanooga, Tenn.— Volkswagen AG officially opens a $1 billion assembly plant here today, restoring a manufacturing presence in the United States after 23 years, as part of its plan to become the world's leading automaker by the end of the decade. "Volkswagen's Chattanooga Operations LLC is the linchpin in the company's plot to triple U.S. sales to 800,000 vehicles in 2018," said Bill Visnic, senior analyst at online auto research firm Edmunds.com.

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NADA: Trade-In Values for Used Cars Expected to Rise in June
NADAFrontPage.com

McLEAN, Va. – Trade-in values of small cars, such as the Ford Focus, Honda Civic and Toyota Corolla, are forecast to rise more than 30 percent year-over-year in June, says Jonathan Banks, senior analyst with the NADA Used Car Guide. “Strong consumer demand for small used cars is driving up prices,” Banks said. “The NADA Guide increase in trade-in values for June should come as no surprise because it reflects a shortage of both new and used cars entering the market.”

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More Kia Dealers OK Renovation
Automotive News

Buoyed by skyrocketing sales, a growing number of Kia dealers are investing to improve their dealership facilities. Kia says 32 of its approximately 730 stores will complete construction projects in 2011 under the Kia Image Facility Assistance Program. Tom Loveless, Kia's U.S. sales boss, said dealers shied away from the program during the recession. Now, with strong sales and rising market share, he said more of them are improving stores in anticipation of further growth. "We're growing share in a bigger pie, so dealers need to be ready for that."

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Toyota's 'Centralized' Management Cited in Slow Recall Response
The Detroit News

WASHINGTON—Decision-making at Toyota Motor Corp. is "too centralized," contributing to the automaker's slow response in recalling vehicles for sudden acceleration problems, according to a study released Monday. In a strongly worded, 60-page report, a panel named by Toyota and headed by former U.S. Transportation Secretary Rodney Slater said Toyota's top-down management structure limits local input about potential problems, and discourages outside feedback on product safety and design.

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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
Click here for NADA's online newsroom at NADAFrontPage.com.
Quotable
“Tomorrow is payoff day."

    -- Sergio Marchionne, chief executive officer of Chrysler, speaking at the opening of a Fiat dealership in Macomb, Mich., Monday on the company's plan to pay off its remaining debt to the U.S. Treasury Department today, Bloomberg, May 23

Video Highlights
 
Price of Used Cars Hits 16-Year High (ABC News)

 
GM Sales Chief Discusses Progress, Challenges Ahead (AutoFocus) 

 
2011 NADA-IHS Auto Forum Offers Insiders' View of Present, Future (NADA-TV)


Charitable Foundation Supports Wounded Veterans Initiative (NADA-TV)

Tornado Relief


Upcoming Webinars

Wednesday, May 25, at 1 p.m. (Eastern): “FTC Model Privacy Notice: Review and Update” with NADA attorney Brad Miller

Wednesday, June 1, at 1 pm (Eastern): “Service Advisor Training” with Lee Harkins, president and CEO of M5™ Management Services, Inc.

Thursday, June 16, at 1 pm (Eastern): “Dealership Valuation for Estate and Succession Planning”


NADA Used Car Guide

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

 
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