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Inside this issue
Split Over Plug-ins
Toyota Prius Escapes Niche to Surge Into Global Top Three
As the Price of Gasoline Drops, So Do Used-Car Prices
Lenders Easing Credit Standards, Terms to Drive Auto Loans
Ford Didn't Build Enough in First Quarter, Plays Catch-up
A Car Hoard, Pruned to a Collection, Gets a Fitting Home
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Split Over Plug-ins

White House pushes to get more vehicles on the road while industry shifts to traditional technologies

A disconnect is emerging between the White House and the auto industry over the short-term future of electric vehicles and plug-in hybrids. President Obama is pushing ahead with his goal of getting 1 million plug-in vehicles on U.S. roads by 2015. He's even redoubling his efforts for federal support. But automakers, while acknowledging EVs and plug-in hybrids as important to enabling them to meet long-term fuel-economy mandates, are emphasizing more traditional fuel-saving technologies in the short term. In the meantime, auto companies and their buyers continue to gravitate to less pricey and more conventional technologies. [NADA Director] Michael Martin, owner of Dudley Martin Chevrolet in Manassas, Va., knows this all too well.  "We're still seeing a strong demand for small cars," he said. "They're looking at the Volt, but they're going to a gas-powered vehicle."
Source: Automotive News

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Toyota Prius Escapes Niche to Surge Into Global Top Three

Toyota Motor Corp.’s Prius, a niche oddity when it went on sale 15 years ago, jumped to the world’s third best-selling car line in the first quarter as U.S. demand and incentives in Japan turned the hybrid into a mainstream hit. Prius sales more than doubled as Toyota extended the name to a four-model “family” of vehicles at the same time that rebates and tax breaks in Japan are saving buyers the equivalent of $2,500 or more. In the quarter, sales soared to 247,230, trailing only Toyota’s Corolla, at 300,800, and Ford Motor Co.’s 277,000 Focus sales.
Source: Bloomberg

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As the Price of Gasoline Drops, So Do Used-Car Prices

NADA Used Car Guide: Toyota Prius value expected to drop dramatically

After double-digit percentage gains from January through May 2012, prices on many popular used compact and midsize cars are expected to drop up to 5 percent in June compared to May, said Jonathan Banks, senior analyst with the National Automobile Dealers Association (NADA) Used Car Guide. "The trend of rising prices for used cars will reverse course in June because of declining gasoline prices combined with a normal seasonal slowdown in consumer demand for used cars," Banks said.
Source: NADA Newsroom

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Lenders Easing Credit Standards, Terms to Drive Auto Loans

Lenders in the United States gave car buyers some of the easiest credit terms since the financial crisis in the first quarter as they competed to make more loans to borrowers they see as safe, a credit research company said on Tuesday. The lenders also provided more money to people with subprime credit scores, cut interest rates and granted more time to repay, Experian Automotive, a unit of Experian Plc, said in a report. The relaxed terms make it easier for individuals to buy cars, which is good for car dealers, manufacturers and the economy.
Source: Automotive News

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Ford Didn't Build Enough in First Quarter, Plays Catch-up

Ford Motor Co. executives underestimated the strength of the U.S. market in the first quarter and found themselves short of cars. That's why Ford dropped 1.4 points of U.S. market share, says Mark Fields, Ford's president of the Americas. To rectify the problem, Ford is adding shifts, shortening summer shutdowns and preparing to build more cars at a plant it shares with Mazda Motor Corp. It will even speed the line at a factory that already is running on three shifts.
Source: Automotive News

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A Car Hoard, Pruned to a Collection, Gets a Fitting Home

With dozens of major car museums in the United States already vying for the attention of a select group of visitors, is it possible to create a new automotive showcase that will stand out from the crowd? That’s a challenge David L. Madeira, chief executive of the LeMay — America’s Car Museum, has wrestled with for 10 years.
Source: The New York Times

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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
"This thawing of the credit pipeline has been good for everyone, from consumers to lenders to automotive retailers."

    -- Melinda Zabritiski, director of automotive credit for Experian, Automotive News, May 29 
 


 

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