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Inside this issue
Auto Sales in January Show Unusual Strength
Chrysler Ends Robust '11 with $183M Profit
Chrysler, Hyundai Set Pace as Industry Sales Rise 11%; SAAR Hits 14.2M
Saab Dealers Will Meet, Probably for Last Time, at NADA
Commercial Truck Dealers Convene in Las Vegas for ATD Convention
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Auto Sales in January Show Unusual Strength

Major automakers reported a nearly 12 percent gain in U.S. sales in January, a surprisingly strong showing driven by the growing need for American drivers to replace aging cars and trucks. Toyota Motor Corp said the annualized sales rate in January could be around 14 million vehicles, the best start of the year for the industry since 2008, before the financial crisis. Higher used-car prices and the rising age of vehicles on the road boosted new-car sales. The average vehicle on U.S. roads is almost 11 years old - a record - and owners are now trading in older vehicles they kept during the economic downturn.
Source: Reuters

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Chrysler Ends Robust '11 with $183M Profit

Chrysler Group LLC reported Wednesday a net profit of $183 million for 2011, swinging back into the black from a loss of $652 million in 2010. It was the first time the Auburn Hills automaker has reported a full-year profit since 1997, and it exceeded the targets set by CEO Sergio Marchionne when Fiat SpA took over the company in 2009. In fact, Fiat-Chrysler CEO Sergio Marchionne said all of Fiat's net income came from Chrysler in 2011. "We're pleased with the results. It's been an exceptional year for Chrysler," Marchionne told analysts and reporters during a conference call Wednesday morning. "We've delivered on everything we told you."
Source: The Detroit News

Editor's note: Marchionne along with NADA Chairman Stephen W. Wade will provide keynote remarks at the NADA convention in Las Vegas on Saturday, Feb. 4. For for information, visit www.nadaconventionandexpo.org.

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Chrysler, Hyundai Set Pace as Industry Sales Rise 11%; SAAR Hits 14.2M

Chrysler Group, Volkswagen Group, Hyundai and Kia set the pace as U.S. light vehicle sales rose 11 percent in January from a year ago, signaling the industry's recovery is gaining traction. Chrysler's sales advanced by 44 percent last month, and volume climbed 40 percent at the Volkswagen Group. Ford Motor Co., Toyota Motor Corp., and Nissan Motor Co. also posted sales gains last month, but General Motors said deliveries dropped 6 percent.
Source: Automotive News

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Saab Dealers Will Meet, Probably for Last Time, at NADA

Saab dealers will meet in Las Vegas on Monday during the National Automobile Dealers Association convention for what is likely to be their last make meeting. Ray Ciccolo, a Boston-area Saab dealer and the NADA line representative for the brand, said: “We’ve filed a bankruptcy petition against them. We need to talk about where we go from here and our ability to keep buying parts from some entity. We need to talk about losses and unpaid warranty claims and exactly what is GM’s role in all this.” A group of 41 Saab dealers filed a petition Jan. 30 in U.S. Bankruptcy Court in Wilmington, Del., to place Saab into involuntary Chapter 11 bankruptcy protection.
Source: Automotive News

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Commercial Truck Dealers Convene in Las Vegas for ATD Convention

U.S. medium- and heavy-duty truck dealers will convene in Las Vegas for the ATD Convention and Expo Feb. 3-6, which is being held for the first time in conjunction with the annual convention of the nation’s new-car dealers. More than 20,000 new-car and truck dealers, industry executives and exhibitors, including 1,500 international dealers from 36 countries, are expected to attend the 2012 NADA and ATD conventions. Keynote speakers at the 49th annual ATD convention include ATD Chairman Kyle Treadway; Martin Daum, CEO of Daimler Trucks North America; Michael Card, president of Combined Transport Inc.; and retired Navy Captain and best-selling author Gerald Coffee. Ford dealer Richard Witcher, president of Minuteman Trucks Inc., in Walpole, Mass., will begin a two-year term as ATD chairman on Monday, Feb. 6. Click here some ATD convention highlights.
Source: NADA Newsroom

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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

"Fiat-Chrysler is on solid ground. We're really now talking about a global car company."

   
-- Chrysler CEO Marchionne said the automaker's strength in North America should ensure its continued growth for the entire enterprise, The Detroit News, Feb. 1
      




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