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Inside this issue
Sales, Jobs and Optimism Rise at New-Car Dealers
Fiat's Marchionne is Crying the Blues in Europe but Has No Backup Singers
Chinese-Japanese Group Agrees to Buy Bankrupt Saab, Build Electric Vehicles
Driverless Technology Could Transform Auto Industry
App Sends Warning When Child is Left Alone in Hot Car
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Sales, Jobs and Optimism Rise at New-Car Dealers

New-car dealers are adding workers, opening more stores and expressing general optimism about their business, according to an annual report released this week by the National Automobile Dealers Assn. Average dealership sales rose 12.3% last year to about $35 million. Only 8% of dealers surveyed in March of this year expected their profits to decline in 2012. That reflects a general optimism in the industry.
Source: Los Angeles Times

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Fiat's Marchionne is Crying the Blues in Europe but Has No Backup Singers

The worsening European economy has all of the region’s carmakers worried, but it seems as if Chrysler-Fiat chief executive Sergio Marchionne is the only one sounding the alarms. Last week, he said the sovereign debt crisis is nearing “a point of no return” and warned that if the euro-zone’s single currency collapsed, there would be a major disruption in world markets and European car sales would plummet to fewer than 10 million vehicles (from a projected 13 million this year).
Source: Forbes.com

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Chinese-Japanese Group Agrees to Buy Bankrupt Saab, Build Electric Vehicles

A Chinese-Sweden investment group with Japanese backing has agreed to buy bankrupt automaker Saab Automobile and plans to make electric vehicles, the administrator of the bankruptcy process said today.
Source: Reuters/Bloomberg

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Driverless Technology Could Transform Auto Industry

It could be 20 years before self-driving cars become mainstream, but the technology could transform the auto industry and transportation in general, speakers said at the first-ever Driverless Car Summit in Detroit on Tuesday.
Source: Detroit Free Press

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App Sends Warning When Child is Left Alone in Hot Car

A baby seat maker is now integrating an interesting smartphone app that alerts parents when their child isn't properly stapped in -- or to other dangers. The First Years brand from TOMY International will carry the built-in True Fit iAlert system that will sent an alert on a parent's or caregiver's smartphone if a car seat in correctly positioned or becomes unbuckled.
Source: USA Today

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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
"We have to fix Europe or at least get it where it isn't draining the corporate coffers."

   
-- General Motors chief executive, Dan Akerson, referring to the worsening European economy, Forbes.com, June 12




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