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Thursday, Sept. 22, 2011 RSSSEND TO A FRIENDPRINT
Inside This Issue
Ford: U.S. Sales to Rise in September
Akerson: GM's in 'Best Fighting Trim' to Handle a Slowdown
FTC's Third Workshop on Dealer Practices to be in Nov.
Nissan, Mitsubishi Strengthen Cooperation
Ford Takes on GM's OnStar with Live Sync Operator
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Ford: U.S. Sales to Rise in September

September U.S. auto sales should be stronger than in August, and a shift in demand boosted sales of profitable full-size pickups, a Ford senior executive said Wednesday. Seasonally adjusted sales for September, to be released Oct. 3, are projected to be close to 13 million — higher than the 12.1 million in August, Bob Shanks, controller for Ford Motor Co., told investors Wednesday at the Citi Global Industrials Conference. But he said he does not think the Japanese automakers will pile on incentives and disrupt the marketplace when their inventories are full again. "There were fears the Japanese would come in hard and heavy," Shanks said, "but it is not happening."
Source: The Detroit News

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Akerson: GM's in 'Best Fighting Trim' to Handle a Slowdown

General Motors Co., the biggest U.S. automaker, is in the “best fighting trim” in five decades to handle a global economic slowdown, Chairman and Chief Executive Officer Dan Akerson said [Wednesday]. “Prior to bankruptcy we had almost $40 billion in debt and were limited to almost no cash,” Akerson said in a Bloomberg Television interview in Shanghai. “Today we have minimal debt and about $34-$35 billion in cash. I would argue we are in the best fighting trim we have been in since probably the 1960s.” The automaker can’t rely on North America alone and China is “critically important,” Akerson, who was in Shanghai for a board meeting and the opening of a technical center, said.
Source: Bloomberg

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FTC's Third Workshop on Dealer Practices to be in Nov.

The U.S. Federal Trade Commission's third and possibly final roundtable on dealer practices will take place in November as the agency considers using its streamlined rule-writing authority over dealer-assisted financing. At least one panelist will be from the National Automobile Dealers Association, which has been invited to appear, said NADA spokesman Bailey Wood. "We will again make the case that dealer-assisted financing expands access to vehicles and reduces consumers' cost of credit to pay for those vehicles," Wood said.
Source: Automotive News

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Nissan, Mitsubishi Strengthen Cooperation

Japanese automakers Nissan and Mitsubishi are strengthening their cooperation by expanding the number of models they make for each other in Japan. Nissan Motor Co. said Thursday it will provide the Fuga luxury sedan to Mitsubishi Motors Corp., starting from summer next year. They have also started talks on Mitsubishi providing the Minicab-MiEV commercial electric car to Nissan in the fiscal year that begins April 2012. "These initiatives are intended to strengthen the competitiveness of both companies in Japan," both sides said in a statement.
Source: The Associated Press

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Ford Takes on GM's OnStar with Live Sync Operator

Watch out, General Motors' OnStar: Ford is starting to step on your turf with its Sync system. In an unusual move, Ford said [Wednesday] that Sync, its in-car connectivity system that works through your own smartphone or other digital device, will add a live operator capability. "This isn't just about offering customers a back-up option to the services we have already. This is about giving customers a variety of choices when it comes to how they would like to receive information," said Doug VanDagens, director of Ford's Connected Services Solutions Organization.
Source: USA Today

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More articles

Sept. 21 - Underriner to Lead Auto Dealer Group in 2012

Sept. 20 - UAW-GM Contract to Create or Retain 6,400 Jobs as Union Releases Terms

Sept. 19 - Union Pact With GM Puts Pressure on Ford, Chrysler

Sept. 16 - Volkswagen to Invest Record $86.1 Billion through 2016

Sept. 15 - Dealers Oppose Gas Rules 

 
Quotable
"I would argue we are in the best fighting trim we have been in since probably the 1960s."

    -- Dan Akerson, GM chairman and chief executive officer, Bloomberg, Sept. 21

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