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Wednesday, Nov. 9, 2011 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
 
Inside This Issue
GM Earnings: Not 'Good Enough'
Video: NADA Economist Predicts Auto Sales Will Remain Strong in November
Toyota Recalls 550,000 Cars for Steering Issue
Honda Clarifies Cutbacks
Tough Economy Gives Boost to Auto 'Aftermarket'
Nissan Takes on Ford in Four-Row Van Market
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
GM Earnings: Not 'Good Enough'

General Motors posted better-than-expected earnings in the third quarter, but CEO Dan Akerson said the quarter "isn't good enough," signaling more cost cutting could lay ahead. "Solid isn't good enough, even in a tough global economy," said Akerson in the company's earnings statement Wednesday. "Our overall results underscore the work we have to do to leverage our scale and further improve our margins everywhere we do business." While Akerson didn't lay out any specific measures to improve margins, he did say, "The next level of performance will come as we systematically eliminate complexity and cost throughout the organization."
Source: CNNMoney.com

Related article

  Akerson Resolved to Beat Ford 7.5% Margin With Sales Crown (Bloomberg)

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Video: NADA Economist Predicts Auto Sales Will Remain Strong in November

Available inventory of popular-selling models and an aging fleet of cars and trucks on the road today are key factors why new-vehicle sales will continue to improve in November, says Paul Taylor, chief economist of the National Automobile Dealers Association. “We’re expecting auto sales to increase as the inventory available to sell increases,” said Taylor, in an interview on “AutoFocus with David Hyatt,” a public affairs television program recorded in Studio One at NADA's headquarters in McLean, Va. “Auto sales improved in October, but will be even better in November.” With the average age of cars and trucks nearing 11 years old, Taylor says consumers are becoming more concerned about major breakdowns and need to replace their older vehicles. Another factor that will result in improved new vehicle sales is higher prices on used cars, he added. "Trade-ins are worth more and that attracts consumers to the new car market as well,” he said. Click here to view the Taylor interview on “AutoFocus.”
Source: NADA Newsroom

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Toyota Recalls 550,000 Cars for Steering Issue

Toyota Motor Corp. said Wednesday it is recalling about 550,000 vehicles worldwide - mostly in the United States - for problems that could make it harder to steer. The latest recall is due to the possibility that the outer ring of the engine's crankshaft pulley may become misaligned with the inner ring, causing noise or a warning signal to light up, the company's U.S. sales unit said in a press release. If the problem isn't corrected, the belt for the power steering pump may become detached from the pulley, making it suddenly more difficult to turn the steering wheel.
Source: The Associated Press

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Honda Clarifies Cutbacks

Honda Motor Co. said Tuesday it would extend North American production cuts through Nov. 23 in the aftermath of parts shortages from massive flooding in Thailand. But the company said it would not delay the launch of its new 2012 Honda CR-V crossover set for next month. The company had earlier suggested the launch might be delayed. Honda said auto production rates will vary at its six North America plants, and some will be above 50 percent. Honda also said it will idle its North American plants on Friday and Nov. 18.
Source: The Detroit News

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Tough Economy Gives Boost to Auto 'Aftermarket'

Car manufacturers might still be struggling to emerge from the depths of the industry’s worst downturn since the Great Depression, but the so-called “aftermarket” is firing on all cylinders — perhaps in part because of the weak economy. Forced to hang on to their cars longer than normal, American motorists are spending more on maintenance, and that’s a big portion of the estimated $30 billion in annual revenues generated by some 6,700 car parts manufacturers, distributors and retailers who make up the Specialty Equipment Market Association. "It certainly demonstrates there’s a reason to be optimistic about the future of the auto industry,” said Peter McGillivray, the trade group’s vice president of marketing ...
Source: MSNBC

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Nissan Takes on Ford in Four-Row Van Market

After years of having the vanpool market to itself, Ford E Series is about to get some competition: Nissan's new NV3500. Nissan is going to convert is recently introduced cargo van to become a high-capacity passenger van. The NV3500 HD will carry 12 people in four rows of seats. Nissan says the van, which will be made in Canton, Miss., will have "SUV-like maneuverability and easy access for serviceability due to its pickup truck-like front engine/full hood design."
Source: USA Today

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The NADA Story

The NADA story began in 1917 when 30 auto dealers traveled to the nation’s capital to convince Congress not to impose a luxury tax on the automobile. They successfully argued that the automobile is a necessity of American life, not a luxury. From that experience was born the National Automobile Dealers Association. Today, NADA represents nearly 16,000 new-car and -truck dealerships with 32,500 franchises, both domestic and international.

 
Quotable

"Auto sales improved in October, but will be even better in November."

   
-- NADA Chief Economist Paul Taylor, in an interview on "AutoFocus with David Hyatt," NADA Newsroom, Nov. 9

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Videos


 Economic Report from NADA Chief Economist Paul Taylor
(AutoFocus)

Ford's Czubay on Fuel Economy and Consumer Choice  (AutoFocus)

NADA Used Car Guide October Market Update (AutoFocus)

 More Videos

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
Registration for NADA-ATD Convention Up; Another Sign Auto Industry is Recovering

Registration for the convention, Feb. 3-6, in Las Vegas will likely exceed 20,000 attendees for the first time in four years. Registration and exhibit sales are up more than 25 percent. Six hotels have already sold out. Click here to register.

Foundation News
NADA Foundation: Ambassador Supports American Red Cross

NADA Foundation: Ambassador Supports Reading Program in Michigan

NADA Foundation Program Reaches 500th Ambassador

Marketplace
New NADA Mobile App for iPhone and iPad

Free MarketINSIGHT Webinar: Nov. 8, 1 p.m. EDT, "Five Strategies to Boost Business"

Special NADA Pricing on Sleek HP Powerhouse PC

Holiday Savings from Lenovo

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