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Tuesday, Aug. 30, 2011 RSSSEND TO A FRIENDPRINT
Inside This Issue
East Coast Dealerships Relieved, Wary After Hurricane Irene
U.S. Lenders Making More Subprime Car Loans: Report
Coaxing Miles From a Chevy Redesign
Kia Aims for VW-Like Brand Identity
The Top 10 Electric Cars Most Likely To Succeed
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Top 5 Stories
East Coast Dealerships Relieved, Wary After Hurricane Irene

Storm Further Clouds Outlook for August Sales

Auto dealerships along the East Coast [on Monday] mopped up debris left by Hurricane Irene while gauging the mounting effects of flooding and widespread power outages. At a North Carolina Kia store, a probable record sales month was sidetracked when consumers postponed showroom visits to prepare for Irene. As much as a fifth of U.S. auto sales can be generated in states affected by Irene, said Paul Taylor, chief economist with the National Automobile Dealers Association. And in those states, August sales will likely be down about 10 percent.
Source: Automotive News

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U.S. Lenders Making More Subprime Car Loans: Report

Lenders are making more subprime auto loans again, reversing the cautious approach they adopted after the credit crisis, an industry research firm said on Tuesday. The portion of car loans made to subprime borrowers rose to 40.8 percent in the second quarter from 37.2 percent a year earlier, according to Experian Automotive, a unit of credit bureau and research firm Experian Plc. "We are continuing to see growth in subprime, both new and used ..." Melinda Zabritski, director of automotive credit for Experian said in an interview.
Source: Reuters

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Coaxing Miles From a Chevy Redesign

As New Fuel Standards Loom, the Malibu Gets a New Grille, Tail Lights; Sorry, No Spare Tire.

The new back end and tail lamps on the 2013 Malibu, due in showrooms early next year, are examples of the small but important engineering changes that GM and other auto makers are making as they drive toward new fuel-economy targets. "A lot of what we're doing on this car was considered cost prohibitive on less expensive vehicles" in the past, said John Bednarchik, the GM engineer in charge of the Malibu's aerodynamics. "With the new [fuel-economy] requirements, we're willing to do what we wouldn't have before," he said.
Source: The Wall Street Journal

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Kia Aims for VW-Like Brand Identity

Kia officials want the Korean brand to have a “young-at-heart, adventurous” mainstream identity similar to Germany’s Volkswagen. Michael Sprague, Kia’s U.S. marketing chief, says hip American discount-retailer Target and leather-goods company Coach, along with social media’s Living Social and computer-maker Apple, are “cool” consumer-lifestyle brands “that have transformed themselves and embraced value.” Senior Kia officials here insist the brand will maintain its sportiness in the future, with Hyundai models taking a more “classical and traditional” focus. 
Source: Ward's Auto

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The Top 10 Electric Cars Most Likely To Succeed

The crystal ball is still cloudy on electric and plug-in hybrid cars. They’re still being made in limited numbers, and delivered to very specific test markets. And half the really exciting ones aren’t even here yet. Still, it’s time to make some predictions about what will succeed and what will fail in the marketplace.
Source: Forbes

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More articles

Aug. 29, 2011 - NADA Study Crunches Numbers on Store Renovations

Aug. 26, 2011 - NADA Calls for Nominees for 'Hiring Our Heroes' Award

Aug. 25, 2011 - New Car Dealerships Increase in U.S.

Aug. 24, 2011 - Autos, Aircraft Lifted July Durable Goods Orders

Aug. 23, 2011 - Ford, Toyota to Work Together on Hybrid Trucks

"We were actually open [Sunday] during the storm, and we sold 18 cars."

    -- Michael Brown, Atlantic Automotive Group COO, who says business at the group's 18 Long Island stores is returning to normal after the weekend hurricane scare, Automotive News, Aug. 29


Update on Adverse
Action Requirements


NADA Foundation:
A Success Story

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

-- Sept. 21 at 1 p.m., EDT: “Implementing the Four Essentials to 100% Absorption,” presented by Don Reed, NADA U Partner and CEO, DealerPro Training Solutions

Call 800.557.6232 to learn more and register.

Convention News
Las Vegas Hotel Rooms Selling Out Fast; Register Today

The Encore at Wynn and the Wynn, two hotels in NADA's housing block for the 2012 convention in Las Vegas, have already sold out. Rooms in the popular Bellagio are going fast. Register today to reserve a room in the 12 remaining hotels, including Treasure Island, a high-energy resort featuring elegant sleeping rooms and floor-to-ceiling windows with views of the Las Vegas strip. Convention registration is now open online.

Foundation News
NADA Foundation Program Reaches 500th Ambassador
NADA 20 Groups for Fixed Ops Managers Meeting this Fall; Controllers/CFO Groups Now Forming

NADA 20 Groups for Fixed Ops Managers focus on service, parts, and body shops issues. Dedicated fixed operations professionals from similar volume, non-competing dealerships use their combined experience, the best-in-class financial composite and knowledgeable consultants to tackle the issues that are most important to fixed operations. Call Diane Carnovsky, 20 Group Sales Manager, at 703.749.4744 to reserve a spot.

IT Committee Highlights Importance of Online Reputation Management

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

HP's Small but Mighty PC

Super Savings from Lenovo

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