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Tuesday, Sept. 13, 2011 RSSSEND TO A FRIENDPRINT
Inside This Issue
Auto Dealers Step Up F&I Training
Saab Gets $96 Million Lifeline in China Deal as It Renews Bid for Court Protection
VW's Global Grand Plan Takes a Hit
FBI Warns Online Shoppers of Auto Sale Scams
Volvo Cars May Build North American Plant, Chief Jacoby Says
Kia Optima Hybrid Sets Hypermiling Fuel Economy Record
BMW's Rolls-Royce Shows Electric Concept Car
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Top Stories
Auto Dealers Step Up F&I Training

It's back to school for many car dealerships' finance and insurance personnel. An estimated 60% of dealers have increased F&I training in recent years, while 45% have sent finance managers to National Automobile Dealers Association and lender-sponsored courses... The stepped-up training partly stems from the need to know about, and comply with, a greater number of government regulations affecting dealerships.
Source: Ward's Auto (Subscription required)

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Saab Gets $96 Million Lifeline in China Deal as It Renews Bid for Court Protection

Saab Automobile said [Monday] it has arranged 70 million euros ($95.6 million) in bridge financing with the help of a Chinese guarantee, buying some time while it renewed legal efforts to seek court protection from creditors. Saab has been on the brink of collapse after a Swedish court last week rejected its initial application for protection from creditors. Saab said it filed the appeal the court's decision [Monday], saying the court's interpretation of the Swedish law was too strict.
Source: Automotive News/Reuters

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VW's Global Grand Plan Takes a Hit

Nobody said it would be easy getting to No. 1. Volkswagen is finding that out first hand as its alliance with Suzuki implodes amid finger pointing and allegations between the two automakers. And to think, not long ago many people thought this was the type of deal that would be a win/win for both companies. Now it's looking like a lost cause.
Source: CNBC

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FBI Warns Online Shoppers of Auto Sale Scams

It's another case of "if it sounds too good to be true, it probably is." The FBI is warning online auto shoppers to watch out for deals that offer cars at very low prices, then direct unwitting buyers to phony websites designed to separate victims from their money. The agency says more than $44.5 million was stolen through such scams from 2008 to 2010. The FBI lists a series of warning signs that the sale is a scam on its website, www.fbi.gov.
Source: The Associated Press

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Volvo Cars May Build North American Plant, Chief Jacoby Says

Volvo Car Corp., the Swedish automaker owned by China’s Zhejiang Geely Holding Group Co., may build a plant in North America, Chief Executive Officer Stefan Jacoby said. “One weakness of Volvo cars is the exposure to the U.S. dollar, so we are investigating increasing our sourcing in North America” to balance currency movements, Jacoby told reporters today at the International Motor Show in Frankfurt. ”The utmost solution would be to have a North American industrial footprint. We haven’t made up our mind.”
Source: Bloomberg

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Kia Optima Hybrid Sets Hypermiling Fuel Economy Record

If you need a gimmick to underscore the fuel economy of a new vehicle, you can't pick a better one than this: a new Guinness world record for the lowest fuel consumption in a hybrid gasoline vehicle while driving through all "lower 48" U.S. states. To do it, Kia turned to Wayne Gerdes from Wadsworth, Ill., one of the country's top hypermilers, and Chris Bernius from New York. They drove a factory-standard 2011 Kia Optima Hybrid sedan some 7,899 mile route across America. Using their driving techniques, they achieved 64.55 miles per gallon.
Source: USA Today

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BMW's Rolls-Royce Shows Electric Concept Car

In yet another sign that car manufacturers are really trying to go greener, Rolls-Royce is experimenting with an electric vehicle. The mega-luxurious brand has kicked off a presentation by parent company BMW AG at the Frankfurt auto show trumpeting its 102EX vehicle that has an electric power train engine and is based on Rolls Royce's classic Phantom. BMW chairman Norbert Reithofer said at the show debut Tuesday that the car shows that "zero-emission motoring is on the agenda" even for the luxury brands.
Source: The Associated Press

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More articles

Sept. 12 - Marchionne: Chrysler on Track to Post $3B Operating Profit in 2012

Sept. 9 - Buyer Beware: Flooded Cars Flood the Market

Sept. 8 - Auto Dealers Pressured to Spiff Up Showrooms

Sept. 7 - Are You Worried About the Health of the Auto Industry? Watch China

Sept. 6 - Toyota to End Camry Imports from Japan

 
Quotable
"We will surpass Mercedes this year and move up from position No. 3 to number No. 2."

   
-- Rupert Stadler, Audi's chief executive, told journalists on the sidelines of the Frankfurt auto show, Reuters, Sept. 13
Videos

 
Update on Adverse
Action Requirements

(AutoFocus)

 
NADA Foundation:
A Success Story
 
(AutoFocus)

 More videos

NADA U Webinars
-- 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

-- Oct. 19 at 1 p.m., EDT: “Performing a Monthly Parts Inventory Reconciliation,” presented by Chris Bavis, NADA-ATD Academy instructor.

Call 800.557.6232 to learn more and register.

Convention News
Alert: Beware of Hotel Offers from Unaffiliated Third Parties

Some dealers and exhibitors may receive emails from unaffiliated hotels or third-party agencies offering to make hotel reservations for the 2012 NADA/ATD Convention & Expo in Las Vegas, Feb. 3-6. These entities HAVE NO AFFILIATION WITH NADA. They may employ harsh cancellation or alteration policies, charge excessive fees or engage in other questionable practices. Official housing for the 2012 convention is available online only through the convention's website. Following the completion of your hotel reservation, you will receive a confirmation email from NADA (nada@experient-inc.com.)

Foundation News
NADA Foundation Program Reaches 500th Ambassador
Marketplace
Seats Available in Five Remaining Academy Classes of 2011

NADA 20 Groups for Fixed Ops Managers Meeting this Fall; Controllers/CFO Groups Now Forming

HP's Small but Mighty PC

Save More Than 50% on Lenovo in September

   
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