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Inside this issue
Chrysler on Track to Post $3 Billion in Profits
Chevy Offers 60-Day Returns, Sets No-Haggle Prices on 2012s
Buyers Shun Plug-In Electric Cars Yet Embrace Hybrids
Reports of Unintended Acceleration Lead to Defect Petition for 320,000 Ford Escapes
Five Changes in the Handling of Vehicle Purchases (in California)
BMW's Bold Plan To Build Lots More Minis
Ford 'Red Tail' Mustang Honors Brave Tuskegee Airmen
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Chrysler on Track to Post $3 Billion in Profits

Chrysler said Monday it has produced 1.23 million cars and trucks in North America during the first six months of the year, or 23% more than it did during the same period last year. If the automaker continues that pace, it's production would exceed 2.4 million this year and keep it on track to post an operating profit of $3 billion this year.
Source: Detroit Free Press

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Chevy Offers 60-Day Returns, Sets No-Haggle Prices on 2012s

General Motors Co., in a move to appeal to new buyers, said today that it will allow consumers to return any new 2012 or 2013 model year Chevrolet for a full refund within 60 days, if they're unhappy with their purchase. Chevrolet also said it would offer lower pricing on all 2012s on top of other incentives the automaker already has in place. Chevy is promising one simple, no-haggle price on all its vehicles, naming the promotion "Total Confidence Pricing."
Source: Automotive News

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Buyers Shun Plug-In Electric Cars Yet Embrace Hybrids

Even as sales of hybrids soar, pure electric vehicles are still struggling. Sales of the all-electric Nissan Leaf, which can travel about 75 miles on a single overnight charge, plummeted 69% in June from a year earlier. Meanwhile, sales of various models of Toyota Prius hybrids are selling as fast as the automaker can ship them. President Obama set a goal of getting 1 million plug-in hybrids and all-electrics on U.S. roads by 2015. The administration pumped billion of dollars in loans and grants into battery technology companies, but now, some of the recipients are sitting on more capacity than the market wants. Last week, Pike Research of Boulder, Colo., said the president's 1 million plug-ins would not happen before 2018, if then.
Source: USA Today/Detroit Free Press

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Reports of Unintended Acceleration Lead to Defect Petition for 320,000 Ford Escapes

A nonprofit consumer safety group formally asked the National Highway Traffic Safety Administration on Monday to investigate its claim that some cruise control cables on about 320,000 Ford Escapes were damaged during a repair for an unrelated recall, making the vehicles susceptible to unintended acceleration. In its defect petition, the Center for Auto Safety said the problem, which was said to exist among Escapes from the 2002-4 model years, could have "lethal consequences."
Source: The New York Times

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Five Changes in the Handling of Vehicle Purchases (in California)

Under a new law [in California] regulating vehicle purchases, buyers could pay higher fees, but they'll get more protection from purchasing lemons. Here are key provisions of the law, which went into effect July 1: The documentation fee that car dealers can charge for each purchase or lease has risen to $80. Previously, the fees were capped at $55 for a purchase and $45 per lease. Dealers are now required to run every used car they sell through a federal database — the National Motor Vehicle Title Information System — to determine whether it was ever totaled, salvaged, swamped in a flood or returned as a result of a lemon law complaint. Any car identified as such must then carry a red warning sticker on a dealer's lot. New car dealers must now register vehicles electronically with the Department of Motor Vehicles instead of with paper documents.
Source: Los Angeles Times

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BMW's Bold Plan To Build Lots More Minis

On Monday, BMW announced that it's investing another $387 million in its three Mini plants in Britain, which will preserve 5,500 jobs. At the same time, BMW said it plans to develop as many as 10 different versions of the Mini, the iconic car originally dreamed up by Sir Alec Issigonis.
Source: Forbes

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Ford 'Red Tail' Mustang Honors Brave Tuskegee Airmen

Every year, we look forward to seeing the latest Ford Mustang customized to look like a famous plane for EAA AirVenture, the giant general-aviation celebration in Oshkosh, Wis. This year certainly doesn't disappoint -- a 2013 Ford Mustang sports car made to look like a P-51 Mustang fighter. For Oshkosh, Ford has created a one-of-a-kind "Red Tails Edition" Mustang, paying homage to the Tuskegee Airmen, the first African-American aviators in the U.S. Army Air Corps.
Source: USA Today

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Quotable
"The objective of $3 billion is close at hand. We could overshoot it."

   
-- Chrysler CEO Sergio Marchionne referring to the company's 2012 operating profit, Detroit Free Press (Reuters), July 10




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