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Inside this issue
U.S. Car Sales Likely Best Since 'Clunkers'
Confidence Index Makes 15-Point Leap
Detroit Three Poised to Add 30,000 Jobs by 2015, Experts Say
Lawmaker Seeks Fuel Regulation Answers
GM Celebrates 100 Millionth Small-Block Engine
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Top Stories
U.S. Car Sales Likely Best Since 'Clunkers'

U.S. consumers who set records for retail purchases during Thanksgiving weekend helped boost U.S. auto sales in November, which may have run at the fastest pace in more than two years. Light-vehicle deliveries in November, to be released tomorrow, may have run at a 13.4 million seasonally adjusted annual rate, the average of 14 analysts surveyed by Bloomberg. That would top the 12.3 million pace of a year earlier and October’s 13.3 million rate, which was the best month since sales were helped by “cash for clunkers” in August 2009. “November was a good retail environment for consumers overall,” Erich Merkle, Ford’s sales analyst, said yesterday in an interview. Consumers have been “sitting on the sidelines for quite some time. Black Friday provided that reason to get out there.”
Source: Bloomberg

Related Articles

 Honda Sees a January Sales Pickup (The Wall Street Journal)
 Ford Says November U.S. Auto Sales Rose Led by Small SUVs (Bloomberg)
 Toyota Aims for Pre-2008 Sales Levels with New Products (Automotive News)

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Confidence Index Makes 15-Point Leap

A gauge of consumer confidence jumped in November to the highest level since July on improved expectations for the economy, the Conference Board reported Tuesday. The index rose more than 15 points, the largest gain since 2003, to 56 in November. The figure for October was 40.9, revised up from an earlier estimate of 39.8. “Consumers appear to be entering the holiday season in better spirits, though overall readings remain historically weak,” Lynn Franco, director of the consumer research center at the Conference Board, said in a statement.
Source: The Washington Post

Related Article

 Gas Prices Hit Lowest Mark Since February (USA Today)

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Detroit Three Poised to Add 30,000 Jobs by 2015, Experts Say

The Detroit Three are poised to go on a hiring binge over the next four years as car and truck sales rebound and new labor contracts make it less costly for the automakers to add employees in the U.S., according to the Center for Automotive Research. General Motors, Ford and Chrysler are likely to add 30,000 hourly and salaried employees in the U.S. by 2015, analysts from the Center for Automotive Research said during panel discussion this morning at Schoolcraft College. The Detroit Three’s employment increases will be driven by a recovery of industry sales, recent market share gains and new labor contracts that make it less costly for the automakers to employ autoworkers in the U.S., said Kristin Dziczek, director of the labor group for the Center for Automotive Research.
Source: Detroit Free Press

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Lawmaker Seeks Fuel Regulation Answers

GOP's Issa sends letters to 15 car company execs on proposed '17-25 rules

The chairman of the House Oversight and Government Reform Committee wants the chief executives of 15 major automakers to answer detailed questions about the government's 2017-25 proposed fuel economy regulations. Rep. Darrell Issa, R-Calif., sent 11-page letters late Monday to top [automaker] executives... Issa, who has been looking into the issue since July, now wants the dates and names of all company officials who participated in meetings between the White House and California that culminated in a framework deal in late July between most major automakers to hike the requirements. Issa wants automakers to answer detailed questions about how the proposal will affect auto sales, safety and consumer choice, and whether the government is treating diesel vehicles fairly. Issa noted that the standards, including those for 2011-16, are projected by the Obama administration to add $2,985 to the average cost of a new vehicle by 2025. "How will this additional cost impact consumer behavior?" he asked the auto executives. Issa wants the executives to respond by Dec. 12.
Source: The Detroit News

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GM Celebrates 100 Millionth Small-Block Engine

General Motors Co. celebrated the production of the 100 millionth small-block engine on Tuesday — the venerable heart of many GM vehicles over the past 56 years. Chevrolet unveiled the small-block in 1955, and the engine has been used in GM vehicles around the world. Today it can be found in global Chevrolet, GMC and Cadillac vehicles, as well as Vauxhall in the United Kingdom and Holden in Australia. The production milestone comes during the same month Chevrolet is celebrating its centennial as a brand.
Source: The Detroit News

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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
"Consumers appear to be entering the holiday season in better spirits ..."

    -- Lynn Franco, director of the consumer research center at the Conference Board, on the consumer confidence index, which rose more than 15 points in November, the largest gain since 2003, The Washington Post, Nov. 30

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Convention news
Exhibit Space at 2012 NADA Convention and Expo Sold Out

"Booth space for exhibitors is busting at the seams, which is another indicator the auto industry is showing signs of recovery,” says Steve Pitt, NADA vice president of conventions and expositions. For an advance look at the exhibitor list, attendees are encouraged to log on to “myNADAplanner,” an online tool that connect buyers and sellers on the expo floor. It also lists the “show specials” that will be available on the expo floor. To register for the convention, visit www.nadaconventionandexpo.org.



Exhibitor Update

Click here for the latest news on first-time exhibitors.

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Marketplace
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