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Monday, Aug. 22, 2011 RSSSEND TO A FRIENDPRINT
Inside This Issue
NADA's Chief Economist Expects New-Vehicle Sales to Remain Relatively Strong
Lexus Revamping Product Line in Hopes to Make Up Lost Sales
BYD Seeks Dealers for 2012 U.S. Launch
Citing a Lack of Usage, Costco Removes E.V. Chargers
Ron Bloom Defends Bailout, Says Big 3 Stronger Today
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Top 5 Stories
NADA's Chief Economist Expects New-Vehicle Sales to Remain Relatively Strong

Contrary to what some analysts are projecting, the National Automobile Dealers Association’s chief economist is thinking new-vehicles sales will close out this year strong. NADA's Paul Taylor sent out a statement late last week on the heels of firms such as J.D. Power and Associates shaving their expectations for where the 2011 SAAR might land. “Over the past 10 days, global stock markets have declined dramatically, which has rattled consumer confidence and has car shoppers thinking twice about purchasing new automobiles,” Taylor acknowledged. “As a result of the current economic conditions, several analysts have reduced their sales forecasts between the current year-to-date rate of 12.5 million new cars and light trucks and NADA’s forecast of 12.9 million,” Taylor went on to say. “Many manufacturers still predict light-vehicle sales could be as high as 13 million this year.”
Source: Auto Remarketing

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Lexus Revamping Product Line in Hopes to Make Up Lost Sales

Toyota Motor Corp.'s Lexus, set to lose its position as the top-selling U.S. luxury car brand after 11 years, is revamping its line to regain sales lost to Daimler AG's Mercedes-Benz and Bayerische Motoren Werke AG's BMW. The 2013 Lexus GS 350 goes on sale in February with a new look, larger interior, and better handling and acceleration, said Mark Templin, head of U.S. Lexus sales, following the sedan's debut at Pebble Beach in California. "It's the first of many models that will change the game for Lexus," Templin said. Toyota is struggling to restock U.S. Lexus dealers left short of inventory after Japan's record earthquake and tsunami in March. Including the GS, Lexus will release nine new or refreshed models in 2012 ...
Source: The Detroit News

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BYD Seeks Dealers for 2012 U.S. Launch

Chinese automaker BYD Auto Co. says it needs several more months to set up a dealer network to enter the U.S. market. The automaker intends to announce vehicle pricing at the Detroit auto show in January, says Micheal Austin, vice president of BYD America. "We've sent out information packages to about 20 interested dealers in the past two months," Austin said from BYD's Chicago-area offices. Austin says BYD, which began as a battery maker, is asking that auto sales be only one part of a BYD dealership. It wants dealers to sell a full spectrum of BYD's environmental products, including solar panels for homes. "The dealer network out there is very focused on selling cars and nothing but cars," he says. "It hasn't been easy for us to find a good fit."
Source: Automotive News

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Citing a Lack of Usage, Costco Removes E.V. Chargers

Costco, the membership warehouse-club chain, was an early leader in offering electric-vehicle charging to its customers, setting an example followed by other retailers, including Best Buy and Walgreen. By 2006, Costco had installed 90 chargers at 64 stores, mostly in California but also some in Arizona, New York and Georgia. Yet just as plug-in cars like the Nissan Leaf and Chevrolet Volt enter the market, Costco is reversing course and pulling its chargers out of the ground, explaining that customers do not use them. “We were early supporters of electric cars, going back as far as 15 years. But nobody ever uses them,” said Dennis Hoover, the general manager for Costco in northern California, in a telephone interview.
Source: The New York Times

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Ron Bloom Defends Bailout, Says Big 3 Stronger Today

Outgoing Obama administration official Ron Bloom said Friday Detroit's Big Three are in much better shape to weather a downturn in auto sales, and he defended a deal between auto execs and the government to double fuel efficiency standards by 2025. Bloom, who was the president's top auto adviser through the industry's troubled days from July 2009 until January, said General Motors Co. and Chrysler Group LLC are in a stronger position today than the government predicted when it launched their restructuring. Both companies went through bankruptcy, shedding debt as well as plants and workers. "I think the companies are ahead of where we expected them to be in both cases," Bloom said in an interview with The Detroit News. He leaves the White House on Wednesday as a adviser on manufacturing policy.
Source: The Detroit News

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More articles

Aug. 19, 2011 - VW Sees No Slowdown in Demand

Aug. 18, 2011 - Car Dealers Fear Economy Could Scare Off Buyers

Aug. 17, 2011 - Automakers Rebound in July to Lift Factory Output

Aug. 16, 2011 - GM, Toyota Brands Top Satisfaction Index

Aug. 15, 2011 - Low Rates May Do Little to Entice Nervous Consumers

 
Quotable
"When consumers discover that the economy is still growing in the U.S. and Europe, although slowly, consumer confidence will improve."

    -- Paul Taylor, NADA chief economist, Auto Remarketing, Aug. 22

Videos

 
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NADA U Webinars
Aug. 24 -- “Buy and Sell Smart with Today’s Mobile Tools,” with Chad Goodson of CARFAX (1 p.m. EDT)

Sept. 7 -- “Increase $10,000 Per Month Per Advisor Immediately,” presented by Jeff Cowan, NADA U Partner and president, Jeff Cowan’s Pro Talk, Inc. (1 p.m. EDT)

Convention News
Stay Connected with the NADA Convention on Facebook and Twitter

There are now more ways than ever to "connect" with the NADA and ATD Convention and Expo, Feb. 3-6 in Las Vegas. "Like" the convention's Facebook page and "follow" us on Twitter to receive instant updates on speakers, registration, exhibitors, hotels and more. Plus, stay tuned for NADA's new smart phone app coming this fall, putting the entire convention at your fingertips. Convention registration is now open online.

Foundation News
NADA Foundation Program Reaches 500th Ambassador
Marketplace
IT Committee Highlights Importance of Online Reputation Management

NADA’s Information Technology Committee has shed some light on the importance of monitoring social media sites for comments about dealerships’ services and how to monitor these sites without overwhelming dealership staff. To learn more, visit NADA’s Technology page and look under “Online Reputation Management Vendors.”

NADA Used Car Guide Adds VIN Scanner App to its Mobile Products

Texas Dealer Academy Taps Online Resources of NADA University for NextGen Program 

HP's Small but Mighty PC

Super Savings from Lenovo

 
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