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Inside this issue
GM, Ford, Chrysler Report Giant March Sales
Nissan, Hyundai Set March Sales Records; Fuel-Efficient Sales Also Boost Big 3
NADA: Auto Sales Lead Economic Growth
Ghosn Pushes Nissan for More U.S. Share
Chrysler: No Decision on Extending Ally Relationship
30 Cars to Make World Premiere at N.Y. Auto Show
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
GM, Ford, Chrysler Report Giant March Sales

General Motors, Ford Motor and Chrysler Group all reported big March sales. GM said sales were up 12%; Ford sales rose 5%; and Chrysler, which had dipped the most precariously during the recession, was up 34% for the month compared with a year ago. Reflecting gas prices that are approaching a $4-a-gallon average across the country, GM said saw its biggest sales in its most fuel-efficient cars. The strong performance of the auto industry shows strength in the overall economy.
Source: USA Today

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Nissan, Hyundai Set March Sales Records; Fuel-Efficient Sales Also Boost Big 3

Detroit's automakers posted another month of big sales gains in March as consumers returned in throngs to dealerships, lured by the promise of looser lending and more fuel-efficient cars and trucks. Overall industry sales were up 12.7 percent in the United States last month on volumes of 1.4 million units. That translated into a seasonally adjusted annualized selling rate of 14.4 million vehicles — down sharply from February's figure of 15.1 million units, but still way ahead of where the industry was a few months ago.
Source: The Detroit News

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NADA: Auto Sales Lead Economic Growth

Low interest rates, high trade-in values and a slew of new vehicles arriving in dealer showrooms are helping auto sales lead economic growth, says Paul Taylor, chief economist of the National Automobile Dealers Association. Assisted by warm weather in many parts of the country, U.S. new-car and truck sales have increased by 13 percent for both March and over the first quarter of 2012. “With gasoline prices rising, small cars and mid-sized cars continue to be the two segments leading sales,” Taylor said in an interview [Tuesday] at the NADA/IHS Automotive Forum in New York City. “If gasoline prices rise above $4.50 a gallon, the market is ready this year with many new small car offerings in adequate supply. That was not the case last year.” 
Source: NADA Newsroom

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Ghosn Pushes Nissan for More U.S. Share

Nissan CEO Carlos Ghosn acknowledges his company is doing better than ever -- but not quite good enough yet. Ghosn told an industry audience [in New York Tuesday] that he expects “no less than 10 percent” of U.S. market share. But he declined to put a deadline on his mission. “Nissan has a record 8.2 percent market share, thanks in part to a substantial improvement in our retail network,” the multitasking CEO said at the NADA/IHS Automotive Forum, an annual kickoff event for the New York auto show. “But our goal is to have U.S. market share of no less than 10 percent.”
Source: Automotive News

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Chrysler: No Decision on Extending Ally Relationship

Exec says automaker would be OK without captive finance firm
A top Chrysler executive says it is not critical the Auburn Hills automaker have its own captive finance arm. Chrysler must decide by the end of this month whether it will give one year's notice to end its preferred lending relationship with Ally Financial Inc., which runs through at least April 2013. Dodge brand chief Reid Bigland said at the [NADA/IHS Automotive Forum in New York] Tuesday that the company's relationship with Detroit-based Ally is working well. "I don't think it's nearly as critical right now to have a captive finance company the way that credit has become much more available than it was a few years ago," Bigland said, noting low interest rates have made auto lending prevalent.
Source: The Detroit News

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30 Cars to Make World Premiere at N.Y. Auto Show

Automakers, including Detroit's Big Three, will make more than 30 worldwide introductions of models during the New York International Auto Show this week. The offerings include long-awaited sports cars such as the SRT Viper, important new sedans like Lincoln's MKZ and Chevrolet's Impala, and a handful of concepts. The show is at the epicenter of the largest U.S. market for vehicle sales, where hundreds of thousands of new vehicles are sold annually, including many high-price luxury rides. "We're someplace in the area of 30 world introductions, and a total of nearly 60, or maybe a little more than 60 of all introductions, North American and world," said Mark Schienberg, president of Greater New York Automobile Dealers Association, which owns the show.
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. For more information, visit www.nada.org.

 
Quotable
"Our goal is to have U.S. market share of no less than 10 percent.”

   
-- Nissan CEO Carlos Ghosn in keynote remarks at the NADA/IHS Automotive Forum in New York on Tuesday, Automotive News, April 3


 

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