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Thursday, Aug. 4, 2011 RSSSEND TO A FRIENDPRINT
Inside This Issue
GM Profit Nearly Doubles on Strong Global Sales
GM Refocusing Product Line
Auto Engineers: Mileage Rules Will Hurt Safety
Chrysler CEO to Stay on Job Until at least 2015
Ford CEO Talks Up Electric Focus on Letterman Show
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Top Stories
GM Profit Nearly Doubles on Strong Global Sales

General Motors Co. on Thursday said its profit nearly doubled in the second quarter as revenue soared, bolstered by stronger global sales and an increase in production of high-margin pickup trucks and SUVs in North America. GM also reported slightly higher earnings than rival Ford Motor Co., which had been seen as farther along in its recovery. Ford reported a second-quarter profit of $2.4 billion. "We were able to get prices up and incentives down," finance chief Daniel Ammann said Thursday. "This is another step in the plan. Our goal is to drive long-term performance."
Source: The Wall Street Journal

Related article

  GM Makes $2.5 Billion in 2nd Quarter, Beating Estimates (Detroit Free Press)

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GM Refocusing Product Line

Cadillac, Chevy to be global; push on for groundbreaking technology

General Motors Co. is rethinking its brand strategy — aiming for just two global brands — and intends to spend billions of dollars over the next five years on advanced propulsion systems. [CEO Dan] Akerson wants to boost sales of luxury cars, and next summer will launch two new Cadillacs: the XTS and an unnamed compact. "They're not going to blow the doors off," he said, "but they will be very competitive." The full-size XTS will replace the DTS and STS; the ATS is a small sedan and will be built in Lansing. He said he believes Chevrolet "is going to be a killer brand," for the global market, but said Cadillac "isn't ready" for that role yet, and won't be for 12 to 24 months. "You've got to come up with a premium brand that's got to be global — that's Cadillac," he said.
Source: The Detroit News

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Auto Engineers: Mileage Rules Will Hurt Safety

Stringent fuel economy requirements like those set for 2025 will be impossible to meet without sacrificing the safety of the vehicles we'll drive in the future. That's the prevailing opinion of most automotive engineers surveyed by the industry publication Wards Automotive. About 75% of auto engineers who responded to the survey felt that a 2025 fuel economy requirement of 56.2 mpg -- slightly higher than the final proposal announced last week -- would jeopardize the safety of future cars and trucks. Most also felt cars will have to be smaller, more expensive and less varied than they are today with about 90% doubting the goals can be met without sacrifices in vehicle cost, size, safety and choice. "Aerodynamic blobs on the way," wrote one engineer.
Source: CNNMoney.com

Related article

  Chrysler Says Improved Engines Will Help Boost MPG (Associated Press)

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Chrysler CEO to Stay on Job Until at least 2015

Chrysler CEO Sergio Marchionne said Wednesday he plans to stay on the job until at least 2015, and said an IPO is not likely before 2013. "It's unlikely," Marchionne said, suggesting it wouldn't happen before January 2013. At the Center for Automotive Research's Management Briefing Seminars, Marchionne -- who also runs Fiat SpA -- said he was thinking about his successor. He expects will come from within the Fiat-Chrysler alliance. Marchionne, 59, said he hopes the Fiat-Chrysler alliance will be one of the five or six global players in the auto industry. "It's going to be up to the guy after me I think — after 2015, hopefully. Maybe a year later," he said at the event. "Chrysler will be here after me."
Source: The Detroit News

Editor's note: Marchionne is the scheduled industry keynote speaker for the 2012 NADA and ATD Convention and Expo in Las Vegas next February. Click here to register.

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Ford CEO Talks Up Electric Focus on Letterman Show

Ford CEO Alan Mulally sounded more like he was in a job interview than on a TV talker when he showed up on the Late Show with David Letterman on CBS last night. When he finally got back to talking about cars, Mulally didn't say a whole lot. Letterman credited him with "rescuing Ford from the brink of bankruptcy." Mulally got his biggest hand when Dave noted that Ford pulled through without taking a government handout.
Source: USA Today

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More articles

Aug. 3, 2011 - Automakers Muster 1% Gain in Tough Month

Aug. 2, 2011 - July Another Weak Month for US Auto Sales

Aug. 1, 2011 - President, Automakers Hail New Fuel Efficiency Pact

July 29, 2011 - Cars Sold in U.S. Could Get 54.5 mpg by 2025

July 28, 2011 - Obama to Announce New Fuel Economy Standards Friday

 
Videos

 
Adverse Action
Requirements

(NADA University)

 
Dealers in Good
Position to Sell

(AutoFocus)

 
NADA Foundation:
A Success Story
 
(AutoFocus)

Quotable
"You will see incredible results even out of what I consider to be absolutely plain-vanilla technology."

    -- Sergio Marchionne, CEO of Chrysler, telling reporters Wednesday that changes to the internal combustion engine, and not electric or hydrogen fuel cell technology, will be the answer to meeting new fuel economy standards, The Associated Press, Aug. 3

Convention News
Online Registration for 2012 Convention Now Open

Registration for the 2012 NADA and ATD Convention and Expo, Feb. 3-6 in Las Vegas, is now open online. The 2012 convention will mark the first time the NADA and ATD conventions will be held together. Dealers are urged to register early to take advantage of discounted pricing and reduced hotel rates. Click here to register.

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
Marketplace
HP's Small but Mighty PC

Super Savings from Lenovo

Events
NADA U Webinar: “How to Make Good General Managers Great General Managers” with NADA U Partner Jeff Sacks, Aug. 4 at 1 p.m. EDT

NADA U Webinar: “Is Your Service Department Maximizing its Grossing Potential?” with NADA Academy Instructor Bob Atwood, Aug. 10 at 1 p.m. EDT

NADA U Webinar: “New Technology, New Data, a New Method of Stocking,” led by Dale Pollak of vAuto, Inc., Aug. 17 at 1 p.m. EDT

NADA U Webinar: “Buy and Sell Smart with Today’s Mobile Tools,” with Chad Goodson of CARFAX, Aug. 24 at 1 p.m. EDT

 
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