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Tuesday, Oct. 4, 2011 RSSSEND TO A FRIENDPRINT
Inside This Issue
Chrysler, Nissan, GM Lead Industry to 10% Sales Gain
High Demand for Light Trucks Drives Up Auto Sales
BMW Rides X3 to U.S. Luxury Sales Lead
Kia Smashes Previous Annual U.S. Sales High in Just 9 Months
CNW: Franchised Dealers Help Push Industry to More Than 3 Million Used Sales
FTC Unveils Educational Materials for Small Businesses Explaining New Credit and Debit Card Electronic Payment Rules
Mercedes-Benz Buys Naming Rights to New Orleans' Superdome
Click here for NADA's online newsroom at NADAFrontPage.com. .
Top Stories
Chrysler, Nissan, GM Lead Industry to 10% Sales Gain

Consumers shake off jitters; sales rate is strongest since April
U.S. auto sales -- helped by big gains at Chrysler, Nissan and General Motors -- overcame widespread economic jitters to rise 10 percent in September, raising hopes the industry's recovery will accelerate in coming months. The seasonally adjusted annual selling rate last month – 13.1 million units -- was the best since a similar rate in April, and up from an annual rate of 11.8 million in September 2010. U.S. light vehicle sales are up 10 percent for the year through September to 9.5 million units. "There is plenty of pent up demand in the light vehicle marketplace," said Paul Taylor, chief economist for the National Automobile Dealers Association. "Now that an ample inventory is being restored sales should pick up more completely in the fourth quarter." A surge in used vehicle prices is also helping boost new vehicle sales, analysts say. In some cases, new vehicles are now better deals than similar used models. Last week, NADA guides said more than 100 used 2011 models on the market today have a retail value that exceeds the current 2011 sticker price on a new model. Some used models are valued up to 39 percent more than their original sticker price, NADA said.
Source: Automotive News

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High Demand for Light Trucks Drives Up Auto Sales

3 Detroit Carmakers See Surge as Owners Replace Old Vehicles
A spike in demand for pickups and rising vehicle inventories on dealer lots helped lift auto sales last month to their highest level since April. Detroit's automakers benefited from a swell in demand for light trucks. They accounted for 53.8 percent of the market last month, as SUV sales surged 32.5 percent, and full-size pickup sales rose 25 percent. Owners are bringing in old trucks and replacing them with new ones getting much better mileage, auto executives said. Now that cold weather is approaching, small business owners are replacing their pickups, too. "A commercial owner cannot afford to have their vehicle out of service," said [Don Johnson, vice president of U.S. sales at General Motors Co.]
Source: The Detroit News

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BMW Rides X3 to U.S. Luxury Sales Lead

Bayerische Motoren Werke AG’s BMW brand last month increased its lead in the U.S. luxury automotive sales race with deliveries rising 19 percent on continued high demand for the X3 sport-utility vehicle. Sales of the redesigned X3, which hit U.S. showrooms in January, rose to 1,853 in September from 146 a year ago, contributing to the SUV’s almost four-fold increase to 19,167 so far this year, the Munich-based automaker said yesterday. BMW brand deliveries rose to 21,750 in September while U.S. sales of Daimler AG Mercedes-Benz gained 9 percent to 21,649, the Stuttgart, Germany-based automaker said. Toyota Motor Corp.’s Lexus, which has been the annual U.S. luxury sales leader for the past 11 years, saw September sales fall 12 percent to 14,995.
Source: Bloomberg

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Kia Smashes Previous Annual U.S. Sales High in Just 9 Months

With an 18 percent sales gain in September, Kia Motors America said [Monday] its year-to-date sales surpassed its previous annual U.S. sales record set last year. Kia sold 35,609 vehicles last month, up from the 30,071 vehicles it sold in September 2010. Kia's year-to-date sales totaled 367,405 units, a 37 percent increase from the first nine months of 2010 and up 11,137 units from its previous annual sales record of 356,268 vehicles set in 2010.
Source: Automotive News

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CNW: Franchised Dealers Help Push Industry to More Than 3 Million Used Sales

Franchised dealers enjoyed more than an 11-percent year-over-year lift in used-vehicle sales during September, according to CNW Research, which attributed the spike to a major dose of incentives and strong trade-in values. The spike by franchised stores helped move the industry to an overall used sales total of 3.23 million units, up 4.6 percent year-over-year. Specifically, franchised dealers moved 1.19 million units, a gain of 11.5 percent.
Source: Auto Remarketing

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FTC Unveils Educational Materials for Small Businesses Explaining New Credit and Debit Card Electronic Payment Rules

Several new rules affecting dealerships that accept credit or debit cards are in effect Oct. 1. The rules were issued by the Federal Reserve Board as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act and include provisions that (i) cap debit card interchange fees paid by merchants to debit card issuers each time a customer pays with a debit card; (ii) give merchants options for routing electronic debit transactions over any network that is enabled to process them; (iii) prevent payment card networks and card issuers from designating an exclusive network for processing debit transactions; and (iv) prevent payment card networks from imposing restrictions on merchants’ ability to offer customers discounts for using cash or certain other methods of payment. The FTC has provided details on these new rules online. It's important to note that there are numerous other issues that affect dealers’ acceptance and treatment of credit card payments in the context of a vehicle financing transaction. Dealers should review their agreements with their finance sources or contact their legal counsel for details.
Source: NADA Regulatory Affairs

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Mercedes-Benz Buys Naming Rights to New Orleans' Superdome

One of the top luxury brands in the world will pin its name to the Superdome in New Orleans, the stadium that came to symbolize the city's agony during Hurricane Katrina and later its comeback. Mercedes-Benz USA is announcing that it will have naming rights for the Superdome in a 10-year agreement. The deal caps the complete renovation finished this summer of the 73,000-seat home to the NFL's Saints and site of the 2013 Super Bowl. With MetLife taking over naming rights for the New York Giants and New York Jets' $1.6 billion stadium in New Jersey and other deals, experts say the stadium naming-rights business is finally rebounding.
Source: USA Today

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More articles

Oct. 3 - Chrysler Says US Sales Jump 27 Pct in September

Sept. 30 - Toyota-Honda U.S. Rebound Brings Call of 'What Recession?'

Sept. 29 - Browning: VW Brand Now Profitable in U.S.

Sept. 28 - Deadline for US Auto Fuel Economy Proposal to Slip

Sept. 27 - NADA Joins Challenge to New NLRB Poster Mandate

 

 
Quotable
"There is plenty of pent up demand in the light vehicle marketplace. Now that an ample inventory is being restored sales should pick up more completely in the fourth quarter."

   
-- NADA Chief Economist Paul Taylor, referring to the 10 percent gain in September's auto sales, Automotive News, Oct. 3


"Our plants are now working overtime and dealer deliveries will continue to increase through the remainder of 2011."

   
-- Bob Carter, head of Toyota U.S. sales, says the automaker's production in both North America and Japan returned to normal levels in September for the first time since the March 11 earthquake and tsunami, MarketWatch, Oct. 3

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Chairman's Column
Economic Fears May be Rising, But New-Car Sales are Still Expected to Rise

Dodd-Frank Law Takes Effect with Implications for F&I Office

Convention News
Five Las Vegas Hotels Sold Out

Registration for the 2012 NADA-ATD Convention & Expo, Feb. 3-6, remains brisk. For the first time, both conventions will be held together. Top hotels in Las Vegas are filling up quickly. Click here to register.
Foundation News
NADA Foundation Ambassador Supports Reading Program in Michigan

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

More Savings from Lenovo

 
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