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Tuesday, Oct. 18, 2011 RSSSEND TO A FRIENDPRINT
 
Inside This Issue
Asbury Completes $900 Million Credit Line for Floor Planning, Other Purposes
Even as Japanese Auto Makers Recover, GM's Akerson Sees Flat 2012
VW Plans to Keep Suzuki Stake
Charging Stations Multiply But Electric Cars Are Few
Robocar: Google's Autonomous Prius Hits The Road
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Top Stories
Asbury Completes $900 Million Credit Line for Floor Planning, Other Purposes

Asbury Automotive Group, the sixth-largest automotive dealership group in the United States, said Monday it has established a $900 million, five-year line of credit with nine financial institutions and five manufacturer-affiliated finance companies. The new credit facilities, which mature in October 2016, will provide up to $625 million for new vehicle floor plan financing; up to $100 million for used vehicle floor plan financial and other general corporate purposes; and up to $175 million for general corporate purposes, a company statement said.
Source: Automotive News

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Even as Japanese Auto Makers Recover, GM's Akerson Sees Flat 2012

General Motors Co. CEO Dan Akerson foresees flat industrywide U.S. auto sales in 2012, but says he believes GM can continue to prosper because of a low breakeven point, sustained in part by the company’s new contract with the United Auto Workers (UAW). In an interview last week with Automotive News ... Mr. Akerson said GM expects industrywide U.S. light-vehicle sales to be “flattish” next year—and that’s only if the U.S. economy avoids infection from Europe’s debt crisis, which he views as the biggest threat to auto sales and to the global economy. “As we go into ‘12, we’re looking for kind of a repeat of ‘11,” Mr. Akerson said. For 2011, GM predicts U.S. light-vehicle sales will finish around 12.7 million or 12.8 million.
Source: Crain News Service

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VW Plans to Keep Suzuki Stake

Volkswagen AG said on Monday that it intends to keep its 19.9% stake in Suzuki Motor Corp. despite persistent calls from its smaller Japanese peer to dissolve their tie-up, indicating that a dispute between the two auto makers is unlikely to be resolved anytime soon. Suzuki said on Friday it had sent a notice to its German counterpart claiming Volkswagen had breached the terms of the companies' alliance. Volkswagen, in turn, has accused Suzuki of breaching their agreement by signing a deal earlier this year to purchase certain diesel engines from Italy's Fiat SpA.
Source: The Wall Street Journal

Related article

  VW U.S. Sales Up 20% in First 9 Months of 2011 (Dealer Magazine)

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Charging Stations Multiply But Electric Cars Are Few

When McDonald's franchisee Tom Wolf built his latest restaurant in Huntington, W. Va., late last year, he installed two chargers for all-electric cars so customers could juice their batteries while eating. So far, the charging station has been used a few times. Across the U.S., such equipment is proliferating even though it is unclear whether plug-in cars will prove popular. Fewer than 15,000 all-electric cars are on U.S. roads, says Plug In America, a group promoting the technology.
Source: The Wall Street Journal

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Robocar: Google's Autonomous Prius Hits The Road

On October 5, a modified Prius pulled up the Singularity University campus at NASA Ames in Mountain View, California — without a driver behind the wheel. This vehicle is not theoretical. It is a cold, hard, thrilling reality. It is said to have navigated 180,000 miles of California roads — though never without a team of two human back-seat drivers — without an incident. (Well, maybe one: Rumor has it the robocar got into a fender bender while under human control.)
Source: Forbes

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More articles

Oct. 17 - Ford Workers Closer to Ratifying UAW Contract

Oct. 14 - Presidents Obama, Lee Visit to GM Plant Aims to Promote Free Trade Deal

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

 
Quotable
"As we go into ‘12, we’re looking for kind of a repeat of ‘11."

    -- GM CEO Dan Akerson, who predicts 2011 U.S. light-vehicle sales will finish around 12.7 million or 12.8 million, Crain News Service, Oct. 17

Videos


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Chairman's Column
Study Takes a Look at ROI of Factory Image Programs

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
NADA, ATD Using Technology to Enhance Convention Experience

The NADA-ATD Convention and Expo, Feb. 3-6 in Las Vegas, will feature several enhancements to dealers' convention experience, including:

  • an NADA Convention and Expo Smartphone App
  • interactive displays throughout the convention center
  • Social Connection Zone featuring a social media wall 
  • MyNADAPlanner, your tool to schedule meetings and create a convention road map.

Registration is brisk, with six hotels already sold out. Click here to register.

Marketplace
NADA U Webinar: Oct. 19, 1 p.m., EDT: “Performing a Monthly Parts Reconciliation"

NADA U Webinar: Oct. 26, 1 p.m., EDT: “How to Keep Pace with the New Normal"

NADA U Partners Descend on DC for Power Pack

Boost Service Department Profits with NADA’s Atwood

NADA 20 Groups for Fixed Ops Managers Meeting in a City Near You—Controllers/CFO Groups Now Forming

Special NADA Pricing on Sleek HP Powerhouse PC

More Savings from Lenovo

Foundation News
NADA Foundation: Ambassador Supports American Red Cross

NADA Foundation: Ambassador Supports Reading Program in Michigan

NADA Foundation Program Reaches 500th Ambassador

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