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Top 5 Stories
Lenders Warm Up to Subprime Auto Loans
Toyota, Honda Global Output Halved After Quake
Vehicle, Parts Shortages a Reality
Struggling Automaker Saab Restarts Production
Kansas City Automotive Community Rallies to Help Tornado Victims
Click here for NADA's online newsroom at NADAFrontPage.com.
Top 5 Stories
Lenders Warm Up to Subprime Auto Loans
Automotive News

Auto lenders loosened up on new-vehicle loans to credit-challenged consumers during the first quarter of this year. Amid improving U.S. job growth and lower interest rates, banks and other loan providers increased lending in the subprime market by 11.1 percent over the first quarter of 2010, according to new data from Experian Automotive. "We're seeing lenders come back into the market and showing more confidence about customers they might not have been willing to work with a year ago," said Melinda Zabritski, director of automotive credit at Experian. "There is definitely an improving outlook."

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Toyota, Honda Global Output Halved After Quake
Agence France Presse

TOKYO — Japanese auto giants Toyota and Honda saw global production halved in April as the March 11 earthquake and tsunami ravaged supply chains, the companies said Friday. Honda reported a 52.9 percent year-on-year drop in worldwide production and an 81.0 percent slump in domestic output, while Toyota said global production was down 48.1 percent. "The figures are pretty much along the lines of what we had expected. The months of March and April are the most severely hit by the disaster," Ryoichi Saito, an auto analyst at Mizuho Investors Securities, said.

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Vehicle, Parts Shortages a Reality
Aftermarket Business World

Fallout from quake, tsunami could extend into repair parts availability

The earthquake and tsunami that hit Japan on March 11, along with the failure of several key nuclear power facilities in that country, have had a tremendous impact on the automotive industry. But while most of the attention in the auto sector has been on the impact of the disaster on new vehicle production, the dealership repair center may be the next to feel the effects. On March 29, Toyota announced that it was limiting repair parts sent out to dealers to just those components that were considered critical. "It makes sense to do that, but it also suggests that they don't have an unlimited supply of parts," says Paul Taylor, chief economist at the National Automobile Dealers Association (NADA).

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Struggling Automaker Saab Restarts Production
The Associated Press

STOCKHOLM -- Spyker Cars NV's cash-strapped Swedish unit Saab Automobile on Friday resumed car production after a near seven-week standstill caused largely by payment problems to its suppliers. The long-awaited resumption came after Chinese group Pang Da last week agreed to buy a 24 percent stake in Spyker for euro65 million ($92 million). It also made a euro30 million upfront payment for 1,300 Saab cars. Spyker CEO Victor Muller, who is also the chief executive and chairman of Saab, called the startup "a great day" for the Swedish company.

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Kansas City Automotive Community Rallies to Help Tornado Victims
Kansas City Examiner

The world of cars is more than just steel and chrome. Cars bring people together. They unite us. They help us help each other. Kansas City’s car community has come up with several ways to help the victims of the devastating tornadoes that have damaged so much property and taken so many lives so close to home. The Automobile Dealers Association of Greater Kansas City donated $5000 to the tornado relief efforts in Joplin through the Red Cross and the Salvation Army.

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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 Built-in Connectivity at Your Fingertips
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NADAFrontPage.com
Click here for NADA's online newsroom at NADAFrontPage.com.
Quotable
"We're seeing lenders come back into the market and showing more confidence about customers they might not have been willing to work with a year ago."

    -- Melinda Zabritski, director of automotive credit at Experian, which says auto lenders loosened up on new-vehicle loans to credit-challenged consumers during the first quarter of this year, Automotive News, May 26

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, 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

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used-vehicle values since 1933

 
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