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Inside this issue
Sales Strong So Far in August
Number of US Car Dealerships Rose in 2011
Treasury Names 2 to Ally Financial Board
Ford Adds Jobs, Doubles Battery-Testing Capabilities in Electrification Push
Mercedes Dealers to Expand Use of Computer Tablets
NADA UCG: September Used-Price Depreciation Could Reach 3.5 Percent
At Last, The Maybach Is Priceless
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Sales Strong So Far in August

It may be the dog days of August, but auto sales aren't slowing. Industry analysts and dealers said this week that sales during the first half of August matched July's pace and could go even higher.
Source: Detroit Free Press

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Number of US Car Dealerships Rose in 2011

The number of U.S. car dealerships is rising again after thousands of closures during the recession. It's another sign of strength for the car industry, which has been seeing steady sales increases over the last few years despite the wobbly recovery. It's also good news for the economy, since new car dealerships typically employ around 53 people, according to the National Auto Dealers Association.
Source: The Associated Press

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Treasury Names 2 to Ally Financial Board

The U.S. Treasury named two private equity executives to the board of government-owned Ally Financial Inc., the Detroit-based auto lender. The Treasury, which owns 74 percent of the nation's largest new-car lender as part of a $17.2 billion bailout, now controls a majority of directors.
Source: The Detroit News

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Ford Adds Jobs, Doubles Battery-Testing Capabilities in Electrification Push

Ford Motor Co. is continuing to push its electrification lineup, adding more jobs, doubling its battery-testing capabilities and consolidating its electrification resources.
Source: The Detroit News

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Mercedes Dealers to Expand Use of Computer Tablets

Mercedes-Benz will make greater use of computer tablets as dealership selling tools. In 2010, Mercedes-Benz Financial began distributing iPads to its 350 U.S. dealers, becoming the first brand to do so.
Source: WardsAuto

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NADA UCG: September Used-Price Depreciation Could Reach 3.5 Percent

NADA Used Car Guide projected that used-vehicle depreciation isn’t going to slow down as the industry approaches autumn. In their August edition of Guidelines, analysts forecasted September’s average drop to be within the range of 3 percent to 3.5 percent; a level slightly less than what was listed in August’s edition of the Official Used Car Guide, which showed year-to-date depreciation nearing 3.8 percent. “Over the next few months we expect to see an acceleration of the seasonal softness that usually begins as the summer winds down,” NADA UCG executive automotive analyst Jonathan Banks said.
Source: Auto Remarketing

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At Last, The Maybach Is Priceless

The word “Discontinued” appeared next to the five bottommost items on a price sheet issued recently by Mercedes-Benz USA for its 2013 vehicles. It was a jarring coda to the jumble of dollar signs, commas and digits — many of them stretching to six figures — that preceded it. “Discontinued” summarized the fate of Maybach, the Weimar-era ultraluxury nameplate resuscitated by Daimler, Mercedes’s parent, at the dawn of the 21st century.
Source: The New York Times

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Quotable
"Buyers are defying the mixed economic news, which bodes well for the auto industry." 

   
-- Jeff Schuster, LMC's senior vice president of forecasting, referring to strong auto sales, Detroit Free Press, August 16


 




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