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Thursday, Jan. 5, 2012 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
  
Inside this issue
NADA: Top 3 Factors Why New Car Sales Will Increase in 2012
U.S. Car Manufacturers Have Record December; Honda Sales Fall
Auto Lenders Speeding Past Mortgage Woes
Truck Sales Revving Despite High Gas Prices
Feisty Big 3 Set Sights on Grabbing More of Car Market
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
NADA: Top 3 Factors Why New Car Sales Will Increase in 2012

NADA economist predicts more than 13.9 million new car sales in 2012

As the U.S. economy continues to improve this year, Paul Taylor, chief economist of the National Automobile Dealers Association, predicts more than 13.9 million new cars and light trucks will be purchased or leased in 2012. Taylor, who is forecasting sales of 13.945 million new cars and light trucks for 2012 in the U.S., cites three key factors for the increase: aging vehicles, affordable credit and aggressive incentives.
Source: NADA Newsroom

Editor's note: NADA Chief Economist Paul Taylor will be available for media interviews in Detroit at the SAA Annual Automotive Outlook Conference on Sunday, Jan. 8, and during media days at the North American International Auto Show on Monday, Jan. 9, and Tuesday, Jan. 10.

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U.S. Car Manufacturers Have Record December; Honda Sales Fall

Chrysler announced its best monthly retail sales in four year years, leading the pack of U.S. car makers who had capped a robust 2011 with strong December sales. Interest rates remain at historic lows which add fuel to the fire for consumers shopping for cars, said Paul Taylor, the National Automobile Dealers Association's chief economist. "Cash incentives and low interest rates are likely to be a part of manufacturers' efforts to regain market share," he said. Sales for the calendar year increased 14 percent for the year to more than 2.5 million units.
Source: ABC News

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Auto Lenders Speeding Past Mortgage Woes

Auto lenders are pursuing an unlikely growth market: people who have fallen behind on their mortgages. This trend also has helped auto sales, which were up more than 10% from a year earlier in 2011, partly because of increased availability of credit, says Paul Taylor, chief economist with the National Automobile Dealers Association. Brendan Hurley, an auto dealer in DeLand, Fla., ... says lenders have become more willing to work with dealers in structuring loan terms and to listen to borrowers' stories.
Source: The Wall Street Journal

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Truck Sales Revving Despite High Gas Prices

Americans' appetite for trucks of all kinds rebounded strongly in December, boosting pickups, vans and SUVs to a combined 54.8% of new vehicle sales. The strength of truck sales mainly was due to pickups and incentives that were more generous than usual. In fact, General Motors sold so many full-size Chevrolet Silverado and GMC Sierras that its pickup inventory — bloated as recently as November — fell below the 200,000 that GM wanted on hand at year's end.
Source: USA Today

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Feisty Big 3 Set Sights on Grabbing More of Car Market

Automotive business is war. And the next battle officially starts Monday at [Detroit's] Cobo Center, when the North American International Auto Show begins and 5,000 journalists descend on the Motor City. Last year, Japanese carmakers faced production and supply woes as a result of an earthquake and tsunami, then by flooding in Thailand. Now that they're back to business as usual, expect a formidable fight.
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

"Cash incentives and low interest rates are likely to be a part of manufacturers' efforts to regain market share."

    -- Paul Taylor, NADA chief economist, adding that affordable auto loans are helping to boost new car sales, ABC News, Jan. 4




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