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Friday, Sept. 2, 2011 RSSSEND TO A FRIENDPRINT
Inside This Issue
Chrysler, Nissan, GM Lead Industry to 8% Gain
Car Buyers Unfazed by Storms, Financial and Tropical, in August
Toyota Moves Up On-Sale Date for 2012 Camry
VW Shipping Passats to Dealers as Market Launch Nears
Higher Prices Boost Used-Vehicle Profits
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Top 5 Stories
Chrysler, Nissan, GM Lead Industry to 8% Gain

Chrysler Group, Nissan North America and General Motors led the industry to an 8 percent U.S. sales gain in August. The seasonally adjusted sales rate slipped to 12.13 million from July’s 12.24 million as a stagnant economy, last week’s U.S. hurricane and lingering vehicle shortages from the March earthquake in Japan took a toll. "There is still a lot of pent-up demand," said Don Johnson, GM’s vice president of U.S. sales operations. "Consumers are being cautious, but they are not out of the market. We think that will continue the rest of the year." Paul Taylor, chief economist at the National Automobile Dealers Association, estimated the storm and its aftermath trimmed sales by 10 percent in the 10 states hit hardest by Irene. That translates into a 3 percent reduction in overall U.S. demand, he said.
Source: Automotive News/Bloomberg

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Car Buyers Unfazed by Storms, Financial and Tropical, in August

Despite disruptions from Hurricane Irene and signs of a slowing economy, Americans bought more cars in August. General Motors, the Ford Motor Company and Chrysler all posted impressive gains from a year earlier in their August data released on Thursday. Almost all of the 20 largest automakers have sales gains for the year to date. The only exceptions are Honda and Toyota, whose dealers have struggled to keep their lots stocked sufficiently since the earthquake and tsunami struck Japan early this year. The auto industry continues to make big strides in recovery from the depths of the financial crisis. Sales of autos are on track to be well ahead of last year, when 11.6 million vehicles were sold in the United States.
Source: The New York Times

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Toyota Moves Up On-Sale Date for 2012 Camry

If you're dying to get your mitts on the all-new 2012 Toyota Camry, you won't have to wait quite as long. Toyota said [Thursday] that it's going to pull forward the on-sale date for the model by about two weeks. Now, the new Camry should start showing up in showrooms around mid-September, says Mike Michels, a Toyota spokesman. In a chat with reporters [Thursday], Toyota officials said earlier sales of the 2012 model are being made possible by encouraging sales of the 2011 models. Dealers don't want to be awash in the outgoing model when the new one is about to arrive. Toyota is also already producing the new Camry at its Georgetown, Ky., factory. "They will be building it at full speed," Michels said.
Source: USA Today

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VW Shipping Passats to Dealers as Market Launch Nears

Volkswagen has started shipping dealers about 350 new Passats a day from its Chattanooga assembly plant in preparation for the car's market launch in just a few weeks. "This is one of the most important events for Volkswagen in decades," said Carsten Krebs of Volkswagen of America about the sale of the midsize sedan starting the last part of September. "The Passat is one of the keys to VW's growth strategy in the States." On Sept. 15, key TV commercials are to begin running, he said. Shortly after, Krebs said, customers will be able to buy a Passat and drive it off a dealer's lot. The exact date that customer sales will begin wasn't disclosed.
Source: Chattanooga Times Free Press

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Higher Prices Boost Used-Vehicle Profits

Getting enough used cars and trucks to stock his 11-brand dealership group has become so difficult that Bill Wallace often pays $1,000 over wholesale book value for some late-model used vehicles. But it's worth it, says the dealer principal of Wallace Auto Group in Stuart, Fla. Wallace sold about 300 used vehicles in July, about 50 percent more than he sold in July 2010. According to the National Automobile Dealers Association dealership financial profile for the first half of the year, the average used-vehicle retail selling price rose 5 percent to $17,011 from the year-earlier period. Though average retail gross profit per used vehicle slipped 2 percent to $2,223, average net profit increased 13 percent to $435. "The net profit increase reflects better control of the cost side in the used-vehicle department," says Paul Taylor, NADA's chief economist, referring to expenses such as advertising, energy and floorplan financing.
Source: Automotive News

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More articles

Sept. 1 - Carmakers to Report August Sales

Aug. 31 - Strong Autos Drove July Factory Orders Up 2.4%

Aug. 30 - East Coast Dealerships Relieved, Wary After Hurricane Irene

Aug. 29 - NADA Study Crunches Numbers on Store Renovations

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


 
Quotable
"Consumers are being cautious, and appropriately so, but they are not retrenching. All indications to us are that the industry is going to slowly grow for the rest of this year."

    -- Don Johnson, G.M.’s vice president for U. S sales operations, referring to the economy and future auto sales, The New York Times, Sept. 1
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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
Three Hotels in Las Vegas Sold Out; Register Today

The Encore at Wynn, the Wynn and Bellagio -- three hotels in the NADA-ATD convention block -- have already sold out. Other high-end hotels, such as the Cosmopolitan, Venetian and Caesars Palace are filling up quickly. Register today to reserve a room in the 11 remaining hotels, including Treasure Island, a high-energy resort for families with views of the Las Vegas strip. Paris Las Vegas also has lowered its rate from $189 to $155. Convention registration is now open online.
Foundation News
NADA Foundation Program Reaches 500th Ambassador
Marketplace
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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