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Inside this issue
GM's Akerson Defends Bailout as 'Wise, Far-Reaching Vision'
GOP Presidential Hopefuls Debate Auto Bailout
Honda Elevates Top U.S. Exec to Bolster North America
Akio Toyoda: Toyota's Comeback Kid
Auto Rally Sways Traders in Most Sales Since at Least '08: Credit Markets
Greater Louisville and New Hampshire Dealer Associations Partner with NADA University
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
GM's Akerson Defends Bailout as 'Wise, Far-Reaching Vision'

CEO reaffirms his stance, says it helped Detroit and America
General Motors Co. Chairman and CEO Dan Akerson reaffirmed Wednesday his support of the government bailout of his company, saying it worked and helped cities such as Detroit. "I think it was a wise, far-reaching vision that initiated the action," Akerson said after a news conference in which he and his wife Karin officially announced a $1 million donation to Habitat for Humanity Detroit to kick off a three-year, $25 million effort called Leaders to Rebuild Detroit. "As I said earlier, it was a combination of two administrations not diametrically opposed philosophically, but the practicality of the situation and the importance of the auto industry and the basic manufacturing infrastructure in this country was at stake. And you can debate this forever, and I'm sure it will be for a long time, but facts are facts, it worked. For the first time in many, many years, decades, all three of the auto manufacturers are profitable, they're hiring, they're building, they're investing in America.
Source: The Detroit News

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GOP Presidential Hopefuls Debate Auto Bailout

Out of all the Republican presidential debates so far, never has the issue of bailing out Detroit's automakers ever taken center stage as much as it did in Phoenix last night. For good reason: Michigan's primary is next Tuesday and former Massachusetts Gov. Mitt Romney is trying to make a stand in the automaking state, the place where he grew up as son of former Gov. George Romney. Even though they tried to score points from each other last night, Romney, former Sen. Rick Santorum and former Speaker Newt Gingrich seemed to agree more than disagree when it came to auto bailouts.
Source: USA Today

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Honda Elevates Top U.S. Exec to Bolster North America

First non-Japanese also named to head Americas r&d
Honda Motor Co. is expanding the role of North America COO Tetsuo Iwamura -- making him the automaker's second-highest global executive and marking the first time such a position has been based in the United States. Iwamura, 60, also president of American Honda Motor Co., will add the title of executive vice president and executive officer of parent Honda Motor effective April 1, the company said Wednesday. American Honda also named Erik Berkman head of Honda R&D Americas, with responsibility for design and product development. He is the first non-Japanese executive to hold the post.
Source: Automotive News

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Akio Toyoda: Toyota's Comeback Kid

The grandson of the founder has the carmaker back on track after a spell of bad luck and breakdowns.
When the final tally was made for 2011, Toyota Motor, formerly the world's largest automaker, slipped to third place in production behind General Motors and Volkswagen. It's not surprising: Toyota has endured a string of calamities over the past three years -- natural and man-made -- that would make even the company's famous paranoia seem like sunny optimism. The latest is endaka, the strong yen that causes everything that Toyota manufactures in Japan to be more expensive and undermines its profitability.
Source: Fortune

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Auto Rally Sways Traders in Most Sales Since at Least '08: Credit Markets

Automakers are selling bonds linked to vehicle debt at the fastest pace since at least 2008 as soaring investor demand sends relative yields on the notes to the lowest level in more than six months. Issuance of auto asset-backed securities has reached $14.8 billion this year, compared with a range of $7 billion to $9 billion in the comparable periods of 2008 to 2011, according to data from Barclays Capital. Nissan Motor Co., Honda Motor Co. and Ford Motor Co. sold $5.5 billion of bonds this month, boosting the offerings by at least 35 percent, in their biggest deals in as many as seven years. Sales of asset-backed securities tied to auto loans account for 58 percent of about $25.3 billion of asset-backed issuance this year, according to the firm.
Source: Bloomberg

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Greater Louisville and New Hampshire Dealer Associations Partner with NADA University


The Greater Louisville Auto Dealers Association announces its purchase of an annual subscription to NADA University's complete online education package for its members at the NADA convention in Las Vegas. NADA President Phil Brady (center) meets with GLADA President Scott Roth (right) and GLADA Chairman Greg Daunhauer (left) at the NADA University exhibit Feb. 5. (Photo/NADA)

NADA University recently announced it has gained two new partners. Joining the organization in its efforts to help dealers operate at the top of their game are The Greater Louisville Automobile Dealers Association (GLADA) and New Hampshire Automobile Dealers Association (NHADA). GLADA will be leveraging the resources of NADA U to launch a new education initiative for dealers in the Louisville, Ky., metro area, officials noted. ... NHADA ... is one of the the first state or metro auto dealer associations to use the NADA U platform to host its own educational materials, the organization noted.
Source: Auto Remarketing

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

 
Quotable
"I think it was a wise, far-reaching vision that initiated the action."

   
-- General Motors Co. Chairman and CEO Dan Akerson, reaffirming his support of the government bailout of his company, The Detroit News, Feb. 23
 



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