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Inside this issue
New-Car Dealers Convene in Washington for Capitol Hill Visits, Briefings
CAW Says it Will Reject Detroit 3 Demands for 'Unprecedented' Cuts
Toyota Failing to Recover Stock Value Amid Stronger Competition, Yen
Ford to Add 1,200 Workers at Detroit-Area Plant
GM Backs Opel as New Chief on Hot Seat Pledges Turnaround
8 Automakers Could Set N.A. Production Records in 2012
Audi Threatens BMW's Seven-Year Reign as No. 1 in Global Premium Sales
Chrysler Dealers See Second Push of New Models Since Bankruptcy
GM Says Report Calling Chevy Volt Big Money Loser is 'Grossly Wrong'
The Most Anticipated Cars of 2013
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
New-Car Dealers Convene in Washington for Capitol Hill Visits, Briefings

Nearly 300 new-car and -truck dealers from across the country will be in the nation's capital this week for NADA’s 37th annual Washington Conference and fly-in. The conference includes briefings from NADA, lawmakers and government officials. Dealers will also meet with their members of Congress to discuss issues affecting their businesses, such as extending the current estate-tax rates, preserving an accounting method known as LIFO and reducing regulatory burdens on dealerships.
Source: NADAFrontPage.com

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CAW Says it Will Reject Detroit 3 Demands for 'Unprecedented' Cuts

The Canadian Auto Workers said today it is facing "unprecedented demands" in contract talks with the Detroit 3 automakers and, with one week until its agreements with them expire, has no intention of making deep cuts. The union has warned that it could strike Chrysler Group, Ford Motor Co., and General Motors Co. simultaneously if it cannot reach a new contract deal with at least one of them before all of the contracts expire at 11:59 p.m. eastern on Sept. 17.
Source: Reuters

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Toyota Failing to Recover Stock Value Amid Stronger Competition, Yen

Toyota Motor Corp., roaring back after three years of recession, recalls and natural disasters, will struggle to regain its former dominance as it grapples with improved competition worldwide. Under CEO Akio Toyoda, the company's profits are rising, it's on pace to regain the global sales lead this year, and its $140 billion stock-market value is more than the next two biggest, Volkswagen AG and Honda Motor Co., combined. Still its shares aren't as highly valued as they were before the crises and the resurgence of once-feeble U.S. rivals.
Source: Bloomberg

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Ford to Add 1,200 Workers at Detroit-Area Plant

Ford is adding 1,200 workers to a suburban Detroit factory to build the Fusion, a sign of confidence that the revamped sedan will be a big hit when it goes on sale this fall.
Source: Associated Press

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GM Backs Opel as New Chief on Hot Seat Pledges Turnaround

For General Motors Co. Vice Chairman Steve Girsky, it’s sink-or-swim time.As a GM director, the former president of Centerbridge Industrial Partners LLC opposed the sale of the Opel unit in 2009. After being appointed to head GM’s European operations in July, the Wall Street veteran is taking direct responsibility for making that decision work, and he’s committed to fixing the German carmaker.
Source: Bloomberg

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8 Automakers Could Set N.A. Production Records in 2012

As a group, automakers won't come close to the North American production record set in 2000, but eight automakers are poised to set annual company production records in the region. Toyota Motor Corp., BMW AG, Hyundai-Kia Automotive Group, Volkswagen AG, Honda Motor Co., Nissan Motor Co., Daimler AG and Fuji Heavy Industries Ltd. (Subaru) are expected to set North American production records, according to LMC Automotive.
Source: Automotive News

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Audi Threatens BMW's Seven-Year Reign as No. 1 in Global Premium Sales

Audi cut BMW's lead in 2012 luxury-car sales to just 2,110 vehicles in August, threatening BMW's seven-year hold on the top position in premium auto deliveries. The Volkswagen Group's luxury brand boosted eight-month sales 13 percent to 961,000 vehicles, compared with the BMW brand's 7.8 percent increase to 963,110 autos, according to the two companies' monthly sales reports. BMW, the world's largest-maker of luxury cars, led by 40,513 vehicles through August of last year.
Source: Bloomberg

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Chrysler Dealers See Second Push of New Models Since Bankruptcy

Chrysler Group LLC dealers came away from a day-long company show led by CEO Sergio Marchionne in Las Vegas on Monday confident that they will be selling a lineup of more competitive cars and trucks over the next two years, several dealers said. Marchionne and chiefs of brands including those of Chrysler's majority owner Fiat SpA, showed 66 different cars and truck model variations to be introduced by 2014, up from 29 shown two years ago at a similar dealer meeting in Orlando.
Source: Reuters

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GM Says Report Calling Chevy Volt Big Money Loser is 'Grossly Wrong'

General Motors said on Monday that a media report calling the Chevrolet Volt a major money loser was "grossly wrong," because it failed to recognize that the up-front costs of any new vehicle are spread over the years it is sold to consumers.
Source: Detroit Free Press

Related Story:

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The Most Anticipated Cars of 2013

Fall is always an exciting time to shop for a new car. It marks the start of the new model year, when the latest cars and trucks begin rolling out of factories and on to dealer lots. But the 2013 model year is shaping up to be better than most, with more than 30 all-new nameplates headed to showrooms and many existing models being thoroughly reinvented.
Source: Forbes

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Quotable
"Some people who like the concept of an electric vehicle find it cost-prohibitive."
 
   
-- Mark Scarpelli, president of Raymond Chevrolet in suburban Chicago, referring to sales of the Chevrolet Volt, Reuters, Sept. 10


 


 

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