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Friday, Oct. 14, 2011 RSSSEND TO A FRIENDPRINT
 
Inside This Issue
Presidents Obama, Lee Visit to GM Plant Aims to Promote Free Trade Deal
Ford-UAW Contract Ratification at Risk
Retail Sales in U.S. Rose More Than Forecast in September
Video: Used Prices to Drive New Car Sales in Fourth Quarter
NHTSA to Test 74 Vehicles for 2012 Model Year
Why Mercedes Is Interested in the NFL
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Top Stories
Presidents Obama, Lee Visit to GM Plant Aims to Promote Free Trade Deal

President Barack Obama and South Korean President Lee Myung-bak visit General Motors' Orion Township assembly plant today to promote a free trade agreement that could stimulate exports of U.S.-made products to South Korea, Colombia and Panama. In a show of bipartisanship, both the House of Representatives and Senate have passed the legislation. South Korea has used taxes and tariffs to make imported vehicles much more expensive than those produced in that country. "This levels the playing field," said Gene Sperling, director of the National Economic Council. "It cuts the tariff in half. It took down non-tariff trade barriers. We feel absolutely confident this will increase the sale of cars made in the U.S."
Source: Detroit Free Press

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Ford-UAW Contract Ratification at Risk

Workers at a Ford Motor Co plant in Chicago overwhelmingly rejected a proposed four-year labor contract, the second "no" vote at a Ford plant this week, throwing into doubt the prospects for ratification. Workers at Ford's Chicago Assembly Plant voted 77 percent to reject the pact, which would cover 41,000 Ford factory workers represented by the United Auto Workers union, a local official said. UAW President Bob King said on Wednesday he was confident the pact would be ratified and that the weakening economy would undercut the union's position if the two sides were forced back into bargaining. The Ford ratification vote is scheduled to conclude on Tuesday.
Source: Reuters

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Retail Sales in U.S. Rose More Than Forecast in September

Retail sales in the U.S. rose more than forecast in September, easing concern slumping confidence and scant hiring will derail the biggest part of the economy. The 1.1 percent advance, the biggest since February, followed a 0.3 percent gain for August, a stronger performance than previously estimated, Commerce Department figures showed today in Washington. Ten of 13 major categories showed increases last month, led by auto dealers and clothing stores. Purchases at automobile dealers climbed 3.6 percent, the most since March 2010, today’s report showed. The results are in line with industry figures. Cars and light trucks sold at a 13.1 million seasonally adjusted annual rate in September, according to Woodcliff Lake, New Jersey-based Autodata Corp. The rate was the highest since April’s 13.2 million, when lost output caused by Japan’s earthquake and tsunami began crimping supply of cars and parts.
Source: Bloomberg

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Video: Used Prices to Drive New Car Sales in Fourth Quarter

Above average trade-in values for used cars are expected to increase new vehicle sales in the fourth quarter, says Jonathan Banks, senior analyst with the NADA Used Car Guide. Trade-in values on many 3- to 5-year-old small cars, such as the Chevrolet Cobalt, Honda Civic and Toyota Corolla are about 10 percent higher in September than a year ago, according to the NADA Used Car Guide. “Higher trade-in values will help facilitate new vehicle purchases because car owners have an equity built into the deal, which they can use as a down payment,” Banks added. Used car prices at the end of the year will still be higher than last year, but not at the levels during the peak in May and June when prices jumped 25-30 percent higher, Banks said on “AutoFocus with David Hyatt,” an NADA public affairs TV program. Click here for the “AutoFocus” interview.
Source: NADA Newsroom

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NHTSA to Test 74 Vehicles for 2012 Model Year

The National Highway Traffic Safety Administration said Thursday it will test 2012 vehicles that will account for 81 percent of passenger vehicles sold in the United States. NHTSA will rate 74 vehicles for the 2012 model year, including 42 passenger cars, 22 sport utility vehicles, two vans, and eight pickups. The testing will be conducted under NHTSA's revised five-star crash test program, which was revamped last year to include tougher crash tests and provide consumers with a single overall safety score for each vehicle. Results for the 74 vehicles that will be tested will be posted at www.safercar.gov.
Source: The Detroit News

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Why Mercedes Is Interested in the NFL

The tony brand is more likely to be associated with the Masters golf tournament than the Super Bowl. So why is it interested? Because it has to to keep growing.

Mercedes-Benz, one of the planet's elite luxury brands, is vying for greater visibility and appeal to mainstream buyers, as exemplified by a ten-year deal to renamed the Louisiana Superdome. Last week Mercedes-Benz marketing executives were surveying the enormous indoor arena, host of the next Final Four basketball tournament, the next BCS college football championship game and the 2013 Superbowl, not to mention home games for the Saints. The executives considered numerous spots where three-pointed stars and pictures of Mercedes vehicles could be located. How about the 10-acre dome itself? "We'll be able to make a statement for every blimp flyover," said Steve Cannon, vice president of marketing for Mercedes-Benz USA. Tom Benson, a Mercedes dealer in New Orleans, is owner of the NFL Saints.
Source: Fortune

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More articles

Oct. 13 - House GOP: Did Automakers Really Support Tougher Fuel Standards?

Oct. 12 - Enviro Who Named Himself After Earth to Blast Obama's CAFE Standards

Oct. 11 - House to Hold Hearing on 54.5 MPG Plan

Oct. 7 - Toyota Warns Parts Makers to Slash Prices or Be Replaced

Oct. 6 - Ford, GM May Qualify for Higher Credit Ratings

 

 
Quotable
"We feel absolutely confident this will increase the sale of cars made in the U.S."

   
-- Gene Sperling, director of the National Economic Council, referring to a free trade agreement that could stimulate exports of U.S.-made products to South Korea, Colombia and Panama, Detroit Free Press, Oct. 14
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