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Inside this issue
Carmakers Report Strong June Sales, Easing Worries
June Auto Sales Point to Best Year Since 2007
U.S. to File WTO Complaint Against China on Auto Duties
VW to Pay $5.6 Billion for Rest of Porsche
How Racing Accelerates New-Car Sales (And Among Brands You Might Not Expect)
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Carmakers Report Strong June Sales, Easing Worries

From mini cars to monster pickups, sales of new cars and trucks surged in June and eased concerns that Americans would be turned off by slower hiring and other scary headlines. Automakers sold nearly 1.3 million cars and trucks in June, up 22 percent from the same month last year. Automakers also started their Independence Day promotions a little early and that juiced sales at the end of the month. "In the last two weeks we really went all-out," says Bill Underriner, who sells Volvo, Buick, Honda and Hyundai cars in Billings, Mont.
Source: The Associated Press

Editor's note: Bill Underriner is chairman of the National Automobile Dealers Association and represents Montana on its board of directors.

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June Auto Sales Point to Best Year Since 2007

New auto sales in June raced past expectations on lower gas prices and still-generous incentives, and are on track to score their best year since 2007. Bill Fox, owner of four dealerships in upstate New York that sell Chrysler, Toyota, Honda and Subaru brands, as well as GM's Chevrolet, said the sales increase in his area can be linked mainly to aging cars. "Consumers are very much on edge about the economy and their jobs, but they still need a new car when their old one has 150,000 miles on it," he said.
Source: Reuters

Editor's note: Bill Fox represents New York on NADA's board of directors and is chairman of NADA's Public Affairs Committee.

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U.S. to File WTO Complaint Against China on Auto Duties

The United States will file a complaint against China on Thursday with the World Trade Organization for imposing duties on more than $3 billion worth of U.S.-made autos, a senior U.S. official said.
Source: Reuters

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VW to Pay $5.6 Billion for Rest of Porsche

Volkswagen AG agreed to buy the 50.1 percent stake in Porsche SE’s automotive business that it doesn’t already own for 4.46 billion euros ($5.6 billion), ending a seven-year takeover saga that divided two of the most powerful families in Germany.
Source: Bloomberg

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How Racing Accelerates New-Car Sales (And Among Brands You Might Not Expect)
By Jim Gorzelany, Contributor

We'd like to think that with the vast online resource of product and pricing information available via the Internet most consumers would be taking a purely rational approach to new-car buying these days. But apparently the old saw, “Race on Sunday, sell on Monday,” still holds true – and to a surprisingly substantial degree – in the auto industry. According to the 2012 Motorsport Sponsorship Report just issued by Foresight research in Rochester, Mich., 16 percent of new-car buyers who attended a racing event said it significantly or completely influenced their vehicle purchase.
Source: Forbes.com

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Quotable
"The combination of new products, available credit, lower fuel prices and modest economic growth was a stronger influence on consumer behavior than economic and political uncertainty."

   
-- Kurt McNeil, General Motors vice president of U.S. sales, referring to new-vehicle sales in June, Automotive News, July 3




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