View Mobile Version | View Web Version

SPONSORED BY
Advertisement
NADA.org
Thursday, July 7, 2011 RSSSEND TO A FRIENDPRINT
Top 5 Stories
Auto Industry, Seeing New Life, is on Hiring Spree
Best Consumer Credit Since '06 Reveals Loan Rebound Across U.S.
Opinion: Overcaffeinated CAFE
Subaru's 5-year Plan Seeks 24% Boost in N. American Sales
For Texan Red McCombs, the Wild Ride Never Stopped
Click here for NADA's online newsroom at NADAFrontPage.com. .
Top 5 Stories
Auto Industry, Seeing New Life, is on Hiring Spree

Two years after the end of the Great Recession, the auto industry is hiring again - and much faster than the rest of the economy. The hiring spree is even more remarkable because memories of the U.S. auto industry's near-death experience are fresh. In June of [2009], about 623,000 people were employed by the auto industry in the United States, the fewest since the early 1980s. Now the figure is almost 700,000, a 12 percent increase. "The buzz is incredible around here about what opportunity we're going to get if we can build a great product," says Ben Edwards, who went to work for Volkswagen in Chattanooga, Tenn., last year and is now a team leader on an assembly line that installs tires and seats.
Source: The Associated Press

[back to top]

Best Consumer Credit Since '06 Reveals Loan Rebound Across U.S.

The average U.S. credit score -- a predictor of the likelihood lenders will be paid back -- rose to 696 in May, the highest in at least four years, according to Equifax Inc., a provider of consumer-credit data. Improving credit quality gives households the ability to lift borrowing as concerns ease about rising gasoline prices, hard-to-find jobs and falling home prices. “The financial situation of the household sector has improved far faster and far more than everyone thought it would two years ago,” said James Paulsen, chief investment strategist for Wells Capital Management in Minneapolis.
Source: Bloomberg

[back to top]

Opinion: Overcaffeinated CAFE
By Holman W. Jenkins, Jr.

Obama's crusade to increase automobile fuel-economy standards makes little economic sense -- and it won't save the planet

Praying for the insanity to blow over is the auto industry's strategy for dealing with the Obama administration latest urge to double down on fuel economy mandates. Auto makers, wishing to appear deferential to the government that bailed them out, only plead that any new targets be ratcheted up slowly so future administrations will have plenty of chance to repeal the rules before they take effect. This, we're sad to say, is the most rational stance taken by any player in the CAFE bargaining now under way in Washington. Asking consumers, meanwhile, to bear the cost of fuel-economy improvement they don't value will cause them to keep their old cars on the road longer. And in pursuit of what benefits? If we junked every gasoline-powered car and truck in America, it would have no appreciable impact on global carbon dioxide. If, as Mr. Obama intends, we switch to electric cars, those cars would be powered by coal, so the alleged atmospheric dividend will be doubly elusive.
Source: The Wall Street Journal

[back to top]

Subaru's 5-year Plan Seeks 24% Boost in N. American Sales

Subaru, which sold a record 264,000 vehicles in the United States last year, aims to boost North American sales 24 percent to 380,000 units in the next five years under a new mid-term business plan that focuses on the United States and China. The five-year plans calls for Subaru to improve the fuel efficiency of its lineup by 30 percent as it introduces four new vehicles, including its first gasoline-electric hybrid in 2013. Another goal: becoming “the world’s leading brand in safety performance” by pioneering risk-avoidance technologies, collision safety systems and pre-crash safety features.
Source: Automotive News

[back to top]

For Texan Red McCombs, the Wild Ride Never Stopped

Dealer parlayed 2 used-car lots and an Edsel store into a fortune

After he dropped out of the University of Texas law school in 1950, Billy Joe "Red" McCombs had six weeks to kill before starting a corporate job in Mississippi. He decided to earn a little cash roughnecking in the Texas oil fields. But a friend suggested a different plan: "He said, "You ought to come down and sell cars with us. Hell ... they give you a new car to drive. You don't have to live out with those rattlesnakes out on the drilling rig,'" says McCombs, now 83. So began the epic journey of one of America's legendary car dealers, entrepreneurs and philanthropists.
Source: Automotive News

[back to top]

More articles

July 6, 2011 - Hyundai, Lexus and Subaru Top Rankings in NADA Survey

July 5, 2011 - Detroit 3 Tops Light-Vehicle Sales to U.S. Consumers Last Month

July 1, 2011 - FTC to Review Dealers' Treatment of Military Customers

June 30, 2011 - Governors Urge Feds to Consider Jobs, Costs in Fuel Standards

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

 
Videos

 
Dealers in Good
Position to Sell

(AutoFocus)

 
NADA Foundation:
A Success Story
 
(AutoFocus)

 
Mercedes Enrolls in
NADA U
(NADA-TV)

Quotable
"I really do believe that we are seeing a renaissance in the American automobile industry."

     -- James Brock, a professor of economics at Farmer School of Business at Miami University, responding to news that the auto industry is hiring again much faster than the rest of the economy, The Associated Press, July 6

Marketplace
NADA U Webinar: "The Impact of Different Media Platforms on Auto Buyers," Monday, July 11, from 1 to 2 p.m. EDT

HP's Built-in Connectivity at Your Fingertips

July Specials from Lenovo

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

Boston Dealer Creates 'Family Ambassadors of Distinction'


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.