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Wednesday, June 1, 2011 RSSSEND TO A FRIENDPRINT
Top 5 Stories
Ford CEO Mulally Urges One Fuel Standard
Video: Dealers Reaching Out to Consumers in 'Scramble' for Used Vehicles
Forecasters Say May Car Sales Falling
Honda to Add Shift, 1,000 Jobs at Indiana Plant
Opinion: A Rescue Worth Fueling
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Top 5 Stories
Ford CEO Mulally Urges One Fuel Standard

He tells lawmakers any more would be a costly burden

Ford Motor Co.'s top executive pushed for unity on national fuel efficiency standards for automakers Tuesday, telling Capitol Hill legislators that multiple U.S. standards put undue burden on automakers and consumers. "We're not talking about specific numbers," Mulally told reporters in the Capitol after meeting with more than a dozen freshman House members, the vast majority of them Republicans. But Ford's president and chief executive officer did say he was pushing for a "unified standard across all the states."
Source: The Detroit News

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Video: Dealers Reaching Out to Consumers in 'Scramble' for Used Vehicles

A tight supply of used vehicles resulting from the earthquake in Japan and pent-up demand in the marketplace has made now one of the best times in history to trade in a car or truck, says NADA analyst Jonathan Banks. "The consumer has a really valuable asset sitting in the driveway," Banks says in the TV interview program "AutoFocus." "Prices on used cars are up about 30 percent year-over-year." In their "scramble" for used-vehicle inventory, dealers have begun reaching out to consumers, urging them to take advantage of the strong market for pre-owned cars and trucks, whose values reached an all-time high in May. Banks says dealers' supply of used vehicles will stay tight in June and July. And though prices are not expected to increase much more, "they will probably stay high through the summer."
Source: NADA-TV

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Forecasters Say May Car Sales Falling

Higher gas prices, lower incentives and limited inventories, especially for certain Toyota, Lexus, Honda and Acura models, likely slowed U.S. new vehicle sales in May to their weakest annual rate this year, according to analysts and economic forecasters. The March 11 earthquake and tsunami damaged suppliers in northeast Japan, in turn forcing automakers to idle plants for extended periods. "This could contribute to more of a long-term realignment toward the Detroit manufacturers, depending on how buyers react to shortages over the next several months," said Jeff Schuster, head of global forecasting for JD Power and Associates.
Source: Detroit Free Press

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Honda to Add Shift, 1,000 Jobs at Indiana Plant

Honda said Tuesday it will add 1,000 jobs at its southeastern Indiana plant by the end of the year by adding a second shift. Greensburg plant spokeswoman Anita Sipes said the factory's workforce will double by adding the shift. The plant has been operating at half-capacity for a few months, Sipes said. She said the plant should be operating at full capacity by the end of the year.
Source: Bloomberg Businessweek

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Opinion: A Rescue Worth Fueling
By Timothy Geithner, secretary of the Treasury

On June 1, 2009, General Motors filed for bankruptcy, backed by $30  billion in support from the federal government. The same day, in the same New York courthouse, a judge approved Chrysler’s plan to forge an alliance with Fiat and emerge from bankruptcy as a restructured business with an uncertain future. Two years later, all three American automakers have returned to profitability, the industry has added new shifts and 115,000 jobs, and GM and Chrysler have returned more than 50 percent of the government’s investment. The industry is mounting one of the most improbable turnarounds in recent history.
Source: The Washington Post

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More articles 

Toyota's Japan Production Will Near Normal in June

Hedge Fund Helps Chrysler Grow in Calif.

Sales Slowdown in May Won't Prevent Biggest Year Since 2008

Detroit's Rebound Is Built on Smaller Cars

Fiat Willing to Buy Canada's Chrysler Stock

 
Top 3 Videos
 
NADA Analyst: Dealers Eye Consumers in 'Scramble' for Used Cars (AutoFocus)

 
GM Sales Chief Discusses Progress, Challenges Ahead (AutoFocus)


Charitable Foundation Supports Wounded Veterans Initiative (NADA-TV)

Quotable
"The car companies are leading a comeback in American manufacturing."

    -- Timothy Geithner, secretary of the Treasury, in an editorial on why "the choice to stop the American automobile industry from unraveling was the right one," The Washington Post, June 1

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

Dealer Executive Education at Babson College August 2011 Class Forming Now

HP's Built-in Connectivity at Your Fingertips

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