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Thursday, June 23, 2011 RSSSEND TO A FRIENDPRINT
Top 5 Stories
NADA Disagrees with Recommendations by Former EPA Administrators on Fuel Economy
US Has 'Clear Path' to Selling GM Stake
Nissan Wants 10% U.S. Market Share within 3 Years: CEO
Saab Runs Out of Cash to Pay Wages
All the Good Prius News That's Fit to Retract
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Top 5 Stories
NADA Disagrees with Recommendations by Former EPA Administrators on Fuel Economy

The National Automobile Dealers Association (NADA) took issue with a letter sent to the White House yesterday by a group of former Republican public officials, including four former EPA administrators. In the letter, the group urged President Obama to set aggressive fuel economy and emission standards for model years 2017 to 2025. In response, NADA issued the following statement:

“Circumstances have changed since these former EPA officials were in office. We now have three different fuel economy rules with all of the confusion and problems associated with that. America’s new-car dealers question why the EPA and California need to be involved in setting national fuel economy policy, when Congress explicitly authorized NHTSA solely for that task. We need to return to a single national fuel economy rule. But beyond that the real question is whether—under the Administration’s plan—new-car and -truck shoppers will be able to afford the rising cost of vehicles or find affordable vehicles that meet their needs. According to a recent U.S. Energy Information Administration report, raising fuel economy standards by 6% annually will result in a 14% decrease in auto sales by 2025, and will regulate out of existence vehicles that today cost less than $15,000. These new rules, which the Administration is rushing out three years early, could easily wind up hurting, not helping consumers.”
Source: NADA Newsroom

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US Has 'Clear Path' to Selling GM Stake

The U.S. government has a "clear path" to sell its remaining stake in General Motors Co, a senior Obama administration official said on Wednesday. The U.S. government plans to exit its investment in GM "as soon as practicable," former auto czar Ron Bloom told the Committee on Oversight and Government Reform, according to prepared remarks posted on the committee's website. "The government remains a reluctant shareholder and intends to dispose of its investment as soon as practicable, with the dual goals of achieving financial stability and maximizing returns to taxpayers," Bloom told the government committee, which has broad oversight on government policies.
Source: Reuters

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Nissan Wants 10% U.S. Market Share within 3 Years: CEO

Nissan Motor Co wants a 10 percent share of the U.S. auto market within three years, the company's head said on Thursday. Chief Executive Carlos Ghosn also told a small group of reporters that he expects to conclude Nissan's and Renault's deal to raise their stake in Russian carmaker AvtoVAZ by the end of this year. Nissan on Thursday forecast a better-than-expected 14.4 percent fall in annual operating profit, defying a quake-induced setback in the past few months and projecting another year of record sales.
Source: Reuters

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Saab Runs Out of Cash to Pay Wages

Saab's owner said Thursday it doesn't have the money to pay employees' wages, deepening the financial crisis that is pushing the struggling Swedish brand ever closer to ruin. Dutch owner Swedish Automobile, previously known as Spyker Cars, has courted Chinese and Russian investors and put the Saab factory up for sale in its attempts to revive the brand it took over from General Motors Co. last year. But after months of production stoppages and problems with paying suppliers, Saab said the situation is so dire that it won't be able to pay its 3,700 employees, adding to doubts over how long the brand can survive.
Source: The Associated Press

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All the Good Prius News That's Fit to Retract
By Mark Rechtin

Earlier [Wednesday], PR Newswire issued a press release with some good, heartening news for Toyota and its U.S. dealers. Boatloads of Toyota Prius hybrids will be on the way by the end of the year. It appears Toyota's earthquake recovery is well underway. When I contacted Toyota with a follow-up question, their public relations staff called back in a frenzy. The release was not supposed to have been issued. PR Newswire issued an instant "KILL KILL KILL" retraction online, indicating journalists and other readers should disregard the news release and that it was "issued in error ... by PR Newswire." We called some dealers to see if they had heard anything new about Prius deliveries. Nothing. The genie is out of the bottle.
Source: Automotive News

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More articles

June 22, 2011 - Ford Exec Says June Auto Sales Could Top May Levels

June 21, 2011 - Chrysler Gets Improved Marks from Consumer Reports

June 20, 2011 - Fuel Prices No Longer Trigger Hybrid Desire, Study Says

June 17, 2011 - Toyota Sees Full Production by Fall

June 16, 2011 - Honda Rolls Out New Incentive Policy

 
Videos

 
NADA Foundation:
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Dealers 'Scramble'
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Mercedes Enrolls in
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Quotable
"GM is going to have a good month — and I will leave it at that ... I feel good about June, and Ford does, too."

    -- Mark Reuss, General Motors North American president, adding that June auto industry sales are improving over May, but consumer confidence is still fragile, The Detroit News, June 22

Marketplace
NADA U Webinar: "Service Advisor Training for Enhanced Customer Retention," Wednesday, June 29 at 1 p.m. EDT

NADA U Webinar: "New Credit Score Disclosures for Adverse Action and Risk-Based Pricing Notices," Wednesday, July 6, 1-3 p.m. EDT

HP's Built-in Connectivity at Your Fingertips

Lenovo's June Savings

Foundation News
Boston Dealer Creates 'Family Ambassadors of Distinction'

NADA Foundation Program Reaches 500th Ambassador

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