View Mobile Version | View Web Version

SPONSORED BY
NADA.org
Thursday, Feb. 9, 2012 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
nada.orgAdvocacyAffiliates | Convention | Jobs | Programs | Publications | Services | Training
Inside this issue
Chrysler Talking to Banks About Auto-Lending Venture
Auto and Student Loans Drive Borrowing Surge
US Auto Industry Made Stronger by Increase in Exports
Commentary: California Air Board Tightens Screws on the Automakers
Chicago Auto Show Creates More Buzz For Industry
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Chrysler Talking to Banks About Auto-Lending Venture

Chrysler Group LLC is in discussions with banks about establishing an in-house lending arm through a joint-venture to better compete in the U.S. auto market, according to people familiar with the matter. Chrysler, which gave up its struggling finance unit in its 2009 bankruptcy, has used government-owned Ally Financial Inc. as its preferred lender for customer loans and leasing, and for the loans that dealers use to finance vehicle purchases from the manufacturer. "Chrysler likes the relationship they have with Ally, but they also want options," said Chuck Eddy, who sells Chrysler, Dodge, Jeep, Ram and Fiat brand vehicles from his Youngstown, Ohio, dealership.
Source: The Wall Street Journal

[back to top]

Auto and Student Loans Drive Borrowing Surge

In another sign that the credit freeze is thawing, the Federal Reserve said Americans ramped up their borrowing at the end of 2011. Household borrowing through credit cards, car loans, student loans and other installment debt—which excludes mortgages—rose at a seasonally adjusted 9.3% annual rate in December, following a 9.9% rise in November, the Fed said Tuesday. Already, the surge in car loans has boosted auto sales, which helped drive the economy's 2.8% annual growth rate in the final three months of 2011.
Source: The Wall Street Journal

[back to top]

US Auto Industry Made Stronger by Increase in Exports

When you look at the surge in hiring for the auto industry in the U.S. one factor overlooked is the fact America has become a huge auto exporter. In fact, the U.S. is on track to set a record for auto exports. Why the surge in exports? Overall, it’s because the U.S. auto industry is more competitive. U.S. built cars and trucks are in demand around the world because we’ve long excelled at building trucks, SUV’s and large sedans. This is why BMW exported more than 87,000 X3 SUV’s from its South Carolina plant last year.
Source: CNBC

[back to top]

Commentary: California Air Board Tightens Screws on the Automakers

A scant seven months after the Obama administration proposed a 54 miles-per-gallon fuel economy average for cars and light trucks sold in the U.S. by 2025, the state of California has countered with an even more draconian set of mandates for the auto companies. This time, the California Air Resources Board (CARB) isn't setting fuel economy targets per se. Rather, it's telling the companies what kinds of technologies will be acceptable. The trouble with government picking technology winners is that it forces the companies to direct scarce resources to what's been mandated, rather than new concepts and innovations that could render today's stuff obsolete.
Source: The Detroit News

[back to top]

Chicago Auto Show Creates More Buzz For Industry

The big Chicago Auto Show getting underway with hopes for better sales and more auto industry jobs. “This is really all about getting people into cars, selling vehicles to them, and building off of the buzz that we’ve seen at other shows,” says Aaron Bragman, an analyst with IHS Automotive. New products unveiled include a new 650 horsepower Shelby GT-500 Mustang, coupe and GT variations on the Hyundai Elantra, and an updated GMC Acadia crossover. GM also rolled out a high end “Denali” trim of the Acadia.
Source: CBS News (Detroit)

[back to top]

ADVERTISEMENT
 
More Articles

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. For more information, visit www.nada.org.

 
Quotable
"... Competition is good, it keeps everyone honest and the rates where they need to be."

   
-- Chuck Eddy, a Chrysler dealer in Youngstown, Ohio, on the automaker's discussions with banks about establishing an in-house lending arm, The Wall Street Journal, Feb. 7


 



NADA - National Automobile Dealers Association
Videos

Industry Consultant Glenn Mercer Provides Results of Facilities Study (NADA-TV)

NADA Chairman Stephen Wade Delivers Keynote Address (NADA-TV)

Colorado’s Mike Shaw Named TIME Dealer of the Year (NADA-TV)

NADA Foundation Supports Wounded Veterans Initiative (NADA-TV)

Chrysler’s Marchionne Addresses NADA Convention Audience (NADA-TV)

NADA Leadership Meets with Automaker Execs on Expo Floor (NADA-TV)

 More Videos

Sponsored by
  

Chairman's Column
Car Buyers Need More Information to Understand, Appreciate Fuel Economy Benefits

Three Reasons to be Optimistic about 2012 Sales

2012 Convention on Pace to Be Biggest Since 2008

Foundation news
NADA Foundation to Support Wounded Veterans at Convention

NADA Charitable Foundation to Launch Road Safety Grant Program at Convention


Cleveland Dealers Donate $120,000 to NADA Foundation Ambassador Program


Marketplace
New NADA Mobile App for iPhone and iPad

HP’s Printer Specials

Lenovo's Sweetheart Deals for February

  
Search Back Issues | Unsubscribe | Subscribe | Manage your subscription | email us
NADA For more information on NADA, visit www.nada.org or contact NADA, 8400 Westpark Drive, McLean, VA 22102. This email may contain an advertisement of NADA products and services. Any opinions or statements contained herein do not necessarily reflect the views of NADA. Factual errors are the responsibility of the listed publication. If you are a franchised new-car or -truck dealer and would like to become a member of NADA, please visit the Join NADA section of www.nada.org. Questions or comments concerning NADA Headlines content may be directed to publicaffairs@nada.org .