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Friday, July 1, 2011 RSSSEND TO A FRIENDPRINT
Top 5 Stories
FTC to Review Dealers' Treatment of Military Customers
Chevy U.S. Car Sales at Highest Brand Share in 20 Years
Hyundai June Sales at Record High, Kia Posts Double-Digit Growth
Gasoline Pump Prices May Keep Sliding Through July 4 Holiday
NADA's Bruce Kelleher and Wife Honored as 'Family Ambassadors of Distinction'
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Top 5 Stories
FTC to Review Dealers' Treatment of Military Customers

2nd roundtable planned for August in Texas

The U.S. Federal Trade Commission will examine whether dealerships try to exploit military personnel and their families in the second of a series of public roundtables on dealer practices. The roundtable will take place Aug. 2-3 in San Antonio... The FTC was given streamlined authority to adopt standards for dealer-assisted financing under financial reform legislation enacted last year. The agency has said it plans to convene as many as five roundtables this year to determine "what consumer-protection issues, if any, exist that could be addressed through a possible rule-making or other initiatives." The National Automobile Dealers Association has been invited to participate at the upcoming roundtable. "We will clearly demonstrate that optional dealer-assisted financing expands access and reduces the cost of credit for all car buyers -- including those who serve our country in uniform," NADA spokesman Bailey Wood said.
Source: Automotive News

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Chevy U.S. Car Sales at Highest Brand Share in 20 Years

General Motors Co's U.S. Chevrolet car sales in the first half of the year are set to reach their highest share for the brand in 20 years, outselling trucks in June for the third straight month. Chevy cars accounted for just above 50 percent of the brand's total U.S. sales for June -- the third consecutive month in the majority -- and 47 percent for the first six months of 2011, said Alan Batey, vice president of sales and service for Chevrolet. The last time Chevy cars outsold trucks for three straight months was in May, June and July of 1991, when they made up 52 percent of sales for the year.
Source: Reuters

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Hyundai June Sales at Record High, Kia Posts Double-Digit Growth

South Korean carmakers Hyundai Motor and Kia Motors continued to post double-digit annual sales growth for June driven by brisk sales of new models, boding well for second-quarter earnings to be released later this month. Hyundai's global sales rose 12.3 percent to post a monthly record in June, helped by solid sales in key markets such as the United States, China, India and South Korea. Kia's June sales surged 22 percent. Hyundai Motor Group said on Thursday it was aiming to raise U.S. auto sales by 18.2 percent this year to 1.06 million vehicles, up from its previous target of 1.01 million, driven by strong sales of Hyundai's Sonata sedan and Kia's Optima sedan.
Source: Reuters

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Gasoline Pump Prices May Keep Sliding Through July 4 Holiday

U.S. retail gasoline prices, down 11 percent from a 34-month high on May 4, may keep falling through the Fourth of July weekend as fewer Americans take to the road because of high costs and a slowing economy. Prices may drop another 5 to 10 cents by mid-July, according to Trilby Lundberg, an energy analyst based in Camarillo, California. “Gasoline demand for the year is slightly down and the twin reasons are that underemployment is still very deep and we’re still paying a price premium of about 80 cents over a year ago,” said Lundberg, who conducts a biweekly survey of about 2,500 filling stations nationwide.
Source: Bloomberg

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NADA's Bruce Kelleher and Wife Honored as 'Family Ambassadors of Distinction'

In recognition of his 45-year career serving the nation’s new-car and -truck dealers, Bruce Kelleher and his wife, Andrea, were named “Family Ambassadors of Distinction” by the National Automobile Dealers Charitable Foundation. Mr. Kelleher, who retires today as executive vice president and chief administrative officer of the National Automobile Dealers Association, and Mrs. Kelleher were presented last week with three ambassadorships, thus becoming “Family Ambassadors of Distinction.” The ambassadorships in Mr. and Mrs. Kelleher’s names and a third to be named later allow the couple to provide grants of $2,000 each to three organizations of their choice every year. “Andrea and I were just overwhelmed,” Mr. Kelleher said. “When you retire you get trophies and plaques, which are certainly appreciated, but to be able to provide help to those in need through a gift of this kind is absolutely wonderful."
Source: NADA Newsroom

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June 29, 2011 - Sen. Levin Wants Answers on White House 56.2 mpg Proposal

June 28, 2011 - GM Calls Fuel Regime 'Tough'

June 27, 2011 - Obama Targets $72 Billion Business Tax Break

June 24, 2011 - Vehicle Quality Trips Over Efforts to Add Fuel Economy, Multi-Media

 
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Quotable
"We will clearly demonstrate that optional dealer-assisted financing expands access and reduces the cost of credit for all car buyers -- including those who serve our country in uniform."

    -- NADA spokesman Bailey Wood, referring to an upcoming FTC roundtable in which NADA was invited to participate that will examine the treatment of military customers, Automotive News, June 30

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