View Mobile Version | View Web Version

SPONSORED BY
NADA.org
Thursday, June 9, 2011 RSSSEND TO A FRIENDPRINT
Top 5 Stories
SUVs Safer Than Ever, But Small Cars Still Perilous
Merchants Beat Bankers in Senate Debit Card Vote
Akerson Sees Wider Role for GM Financial in Dealer Credit
Surprising Chrysler Making Most of Second Chance
Joplin Dealer Works to Bolster Community & Employees After Devastating Tornado
Click here for NADA's online newsroom at NADAFrontPage.com.
Top 5 Stories
SUVs Safer Than Ever, But Small Cars Still Perilous

Drivers of sport-utility vehicles are among the least likely to die in a crash and are far safer than those in small cars, according to a report out today by an insurance industry-funded safety group. But the news wasn't nearly as good for drivers of small cars, which have become more popular because of high gas prices. Wade Newton, spokesman for the Alliance of Automobile Manufacturers, says the IIHS report should raise "red flags" for regulators drafting new fuel-economy rules that will force automakers to sell smaller, lighter vehicles. A proposed standard is expected this fall. "This report explains why Americans equate size with safety, even though small cars today are safer than ever before," Newton says.
Source: USA Today

[back to top]

Merchants Beat Bankers in Senate Debit Card Vote

Merchants triumphed over bankers in a battle for billions Wednesday as the Senate voted to let the Federal Reserve curb the fees that stores pay financial institutions when a customer swipes a debit card. As a result of the roll call, the Fed will be allowed to issue final rules on July 21 trimming the average 44 cents that banks charge for each debit-card transaction. The central bank has proposed capping the so-called interchange fee at 12 cents, though the final plan could change slightly.
Source: ABC News

[back to top]

Akerson Sees Wider Role for GM Financial in Dealer Credit

General Motors Co. CEO Daniel Akerson wants the automaker's financial arm to provide loans to a quarter of its dealers, and to step in if dealer credit dries up. Last week, GM Financial sold $500 million in bonds and will use most of that money for additional auto lending. "I want to compete with Ally, but I don't want to be head-to-head," Akerson said in a recent interview. "I want to be there when they're not in a market, but I want them to know I can come in at any time."
Source: The Detroit News

[back to top]

Surprising Chrysler Making Most of Second Chance

Carmaker pays back billions, posts impressive sales gains

At a meeting with members of the media last month to mark the repayment of the automaker’s $7.5 billion in government bailout loans, Chrysler’s new CEO Sergio Marchionne remarked that it’s not often that you get a second chance in life. Early last month Chrysler reversed years of hemorrhaging losses, reporting a $116 million net profit for the first quarter. Even more impressive, according to some analysts, Chrysler was the only one of Detroit’s so-called “Big Three” automakers to post a sales gain in an otherwise weak May for carmakers, reporting a 10 percent gain that serves as “confirmation that our 2011 models continue to resonate with consumers,” according to Fred Diaz, head of the carmaker’s Ram truck division.
Source: MSNBC.com

[back to top]

Joplin Dealer Works to Bolster Community & Employees After Devastating Tornado

A cluster of General Motors franchise dealers in and near Joplin, Mo., recently weathered quite a storm and are continuing to pick up the pieces and do the best they can to support their local community in healing. They recently broke out their checkbooks and more to help the community recover from the single deadliest tornado in national history. Moreover, the National Automobile Dealers Association Charitable Foundation continues to actively assist dealers in recovering from this tornado as well as other devastating weather and flooding. "We've been very active," says Bruce Kelleher, NADA executive vice president. "We've already sent checks to dealers in Iowa and Alabama to present to their employees."
Source: Auto Remarketing

[back to top]

More articles

June 8, 2011 - Akerson: GM Strong After 'Rebirth' in Bankruptcy, But Challenges Remain

June 7, 2011 - GM's Akerson Pushing for Higher Gas Taxes

June 6, 2011 - Texas Dealer, Former NADA President Ramsay Gillman Dies at 67

June 3, 2011 - Chrysler to Sever US Government Ties

June 2, 2011 - GM Financial to Offer Floorplan Loan Program for Dealers

 
Videos

Video: Disaster Relief for Dealership Employees (NADA-TV)

 Mercedes Enrolls in NADA U (NADA-TV)

 Video: Dealers Eye Consumers in 'Scramble' for Used Cars (AutoFocus)

Quotable
"The trend from the reported data is clear: The lighter the vehicle, the higher the likelihood that its driver will be killed in a collision with another vehicle."

   -- Mukul Verma, an auto industry safety official, says more focus is needed to improve the safety of small cars when they hit larger vehicles, USA Today, June 9

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

Foundation News
NADA Foundation Program Reaches 500th Ambassador
Search Back Issues | Unsubscribe | Subscribe | Manage your subscription | email us
NADA For more information on NADA, visit www.nada.org or contact NADA, 8400 Westpark Drive, McLean, VA 22102. This email may contain an advertisement of NADA products and services. Any opinions or statements contained herein do not necessarily reflect the views of NADA. Factual errors are the responsibility of the listed publication. If you are a franchised new-car or -truck dealer and would like to become a member of NADA, please visit the Join NADA section of www.nada.org. Questions or comments concerning NADA Headlines content may be directed to media@nada.org.