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Thursday, June 2, 2011 RSSSEND TO A FRIENDPRINT
Top 5 Stories
GM Financial to Offer Floorplan Loan Program for Dealers
Detroit Auto Makers Topped Importers in Sales in May
Toyota Launches Blowout Deals as Sales Dip, Stockpiles Recover
CNW: Franchise Dealer Emphasis on Used Sways May Sales Total
Opinion: Market Should Drive Fuel Economy
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Top 5 Stories
GM Financial to Offer Floorplan Loan Program for Dealers

GM Financial plans to begin offering wholesale loans to dealers by year end, a move that could stoke competition and improve rates for dealers to finance new inventory. GM Financial CEO Dan Berce said the loans will expand dealers' options for floorplan financing. Today, Ally Financial provides floorplan financing to more than 70 percent of GM dealers, Berce said. Berce said GM Financial will choose a handful of dealers to test the floorplan program by year end. He expects to roll out the program nationally in 2012.
Source: Automotive News

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Detroit Auto Makers Topped Importers in Sales in May

The steady recovery in auto sales stalled in May, as more consumers stayed away from new-car showrooms because of higher prices, shortages of some Japanese models, and concerns over the economy. Analysts said the closely watched, seasonally adjusted annual selling rate in May was just 11.8 million vehicles, the lowest level reported since last September. Analysts said it appeared that shoppers had decided to hold off in the hopes of finding better deals or a wider selection. “Some buyers looked at the reports or maybe heard something about it and decided to wait instead of going down to the showroom and look,” said Jeff Schuster, executive director of global forecasting at the research firm J. D. Power & Associates.
Source: The New York Times

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Toyota Launches Blowout Deals as Sales Dip, Stockpiles Recover

With Japanese and North American factories returning to near-full production, Toyota Division is launching a swath of 0-percent loan and lease incentives on core models. Bob Carter, Toyota Division general manager ... said Toyota sold 25 percent of its total May volume over the Memorial Day weekend, reflecting enhanced discounts the automaker implemented after a sluggish start. "Our availability will be much stronger in June than it was in May," Carter said. "Increasing Prius production remains the top company priority, and Camry and Corolla will be back to full production in June."
Source: Automotive News

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CNW: Franchise Dealer Emphasis on Used Sways May Sales Total

May’s used-vehicle sales total is either up or down, depending on which way you look at the numbers released Wednesday by CNW Research. CNW tabulated there were 4,126,844 used-vehicle sales last month, combining activity at franchise and independent dealerships as well as private-party sales. That figure represents an 11.9-percent gain from April, but a 1.4-percent dip against May 2010. “Franchised new-car dealers, putting more emphasis on used cars because of shortages of the most in-demand fuel-efficient models at Toyota and Honda, were able to eke out a slight gain versus year ago,” shared CNW president Art Spinella.
Source: Auto Remarketing

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Opinion: Market Should Drive Fuel Economy
By Marlo Lewis

The market should drive fuel economy. Government should cease and desist with all deliberate speed. And if we’re stuck with fuel economy regulation for the time being, then one agency should do it – under congressional supervision – not three agencies making it up as they go. Ending the triple regulation of fuel economy by three different agencies operating under three different rules would save taxpayers money and reduce burdens on our beleaguered auto industry.
Source: National Journal

Editor's note: NADA supports congressional efforts to return one government agency, the U.S. Department of Transportation (DOT), to regulate fuel economy. Duplicative regulations by EPA and California will increase vehicle prices and limit model availability. DOT's program is the only one that is required to take consumer demand into account when setting a fuel economy standard. Though the government can mandate that automakers build a certain fleet, such a program will not have environmental benefits unless dealers have a product mix which meets consumer demand.

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More articles

June 1, 2011 - Ford CEO Mulally Urges One Fuel Standard

May 31, 2011 - Sales Slowdown in May Won't Prevent Biggest Year Since 2008

May 27, 2011 - Lenders Warm Up to Subprime Auto Loans

May 26, 2011 - Honda To Resume Full North American Auto Production In August

May 25, 2011 - New M.P.G. Stickers Include Greenhouse Gas Data

 
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Quotable
"We do believe the economy will continue its slow and gradual recovery."

    -- Don Johnson, General Motors’ vice president for U.S. sales operations, responding to May auto sales, which dipped to the lowest level reported since September, The New York Times, June 2

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

Lenovo's June Savings

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