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Inside this issue
GM Revamps Vehicle Line Operations to Streamline Product Development
J.D. Power Car Study Finds Downsizers Happy; Chevrolet Speeds Up
Ford Has 7 of 10 Models Tops for Owner Loyalty
Senate Passes Middle-Class Tax Cut Bill in Symbolic Move
Volkswagen Q2 Earns Jump 18 Percent
Hyundai Motor Cuts Forecast for Global Automobile Demand
Nissan First-Quarter Profit Down on Costly Incentives, Strong Yen
Colorado Dealers Step Up in a Time of Crisis
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
GM Revamps Vehicle Line Operations to Streamline Product Development

General Motors is restructuring its product-development enterprise so that a single engineer takes full responsibility for each of GM's vehicle programs, a move aimed at increasing accountability and speeding the introduction of new cars and trucks.
Source: Automotive News

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J.D. Power Car Study Finds Downsizers Happy; Chevrolet Speeds Up

Car buyers are trading down to smaller vehicles and are finding that they are just as satisfied as they had been with larger autos, according to a study by market research firm J.D. Power and Associates. In its 2012 APEAL (Automotive Performance, Execution and Layout) Study, J.D. Power found that 27% of new-vehicle buyers during a four-month period earlier this year replaced an existing vehicle with a smaller new auto. Only 13% went in the opposite direction during that time period.
Source: Los Angeles Times

Related Story:

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Ford Has 7 of 10 Models Tops for Owner Loyalty

Ford may be reporting impressive, but lower earnings today because of trouble in Europe, but here's some good news for the Blue Oval: Seven out of the 10 models that engender the most brand loyalty in the U.S. are Fords, new research from Experian Automotive said. More than six out of 10 Ford Fusion owners bought another Ford, making it the top model for owner loyalty.
Source: USA Today

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Senate Passes Middle-Class Tax Cut Bill in Symbolic Move

President Barack Obama's fellow Democrats in the Senate on Wednesday won passage of a bill to renew tax cuts for tens of millions of Americans, while letting some rates rise for the wealthiest, in a largely symbolic vote. The legislation, certain to be rejected by the Republican-controlled House of Representatives, lets Democrats claim in advance of the November 6 elections that they passed tax cuts for most Americans, only to be stymied by Republicans.  House Republicans will advance their own symbolic bill next week extending the lower rates for all income levels. Neither bill is expected to become law.
Source: Reuters

Editor's note: Prior to the Senate vote, the Family Business Estate Tax Coalition, which NADA co-chairs, sent a letter to Senate leaders advocating for an extension of current estate tax rates, a key tax issue for dealers.

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Volkswagen Q2 Earns Jump 18 Percent

Stronger demand from North America and the world's developing markets helped German automaker Volkswagen record an 18 percent jump in second-quarter earnings.
Source: The Associated Press

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Hyundai Motor Cuts Forecast for Global Automobile Demand

Hyundai Motor Co., South Korea’s largest carmaker, cut its global industrywide automobile demand forecast for this year, citing a worse-than-expected economic situation in Europe and China.
Source: Bloomberg

Editor's note: John Krafcik, president and CEO of Hyundai Motor America, is the industry keynote speaker at the 2013 NADA Convention and Expo in Orlando, Fla., next February. To register online for the 'early bird' special, visit www.nadaconventionandexpo.org.

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Nissan First-Quarter Profit Down on Costly Incentives, Strong Yen

Nissan Motor Corp. posted a steeper-than-expected 19.7 percent drop in quarterly operating profit on Thursday as a strong yen and costly sales incentives outweighed the impact of solid vehicle sales.
Source: Reuters

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Colorado Dealers Step Up in a Time of Crisis

It has been a long, hot summer for dealers in Colorado. First, there was a drought and wildfires. Then last week there was a mass murder. As is often the case in the wake of natural disasters or other tragedies, local car dealers are stepping up in the recovery effort. Many Colorado dealers are offering money and help to the people impacted by the July 20 mass murder near Denver, where a gunman entered a movie theater and killed 12 people and wounded 58. “That was a big hit to us and to our community,” says Don Hicks, CEO of Shortline Auto Group in Aurora, Colo. “Store traffic is down and people’s moods have been more sober and somber. It’s taken the excitement out of life for people, as it should.” But Hicks and other dealers are taking action.
Source: Automotive News

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Quotable
"Automakers are heavily focused on providing the U.S. market with appealing smaller models, and buyers may be surprised at just how good some of them are."

   
-- David Sargent, vice president of global automotive at J.D. Power and Associates, referring to its 2012 APEAL Study, which found that 27% of new-vehicle buyers earlier this year replaced an existing vehicle with a smaller one, Los Angeles Times, July 25



 




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