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Inside this issue
Detroit 3 Said to Be Closing Hourly Cost Gap With Toyota
CAW Reaches Tentative Agreement With GM; Chrysler is Up Next
Honda to Double Auto Sales Over 5 Years Led By Small Cars
Buick and GMC Rolling Out 9 New or Refreshed Models
U.S. Policies Promoting Electric Cars to Cost $7.5 Billion by 2019
Study: Excitement and Technology Beat Gas Mileage as Priorities for Younger Car Buyers
Fatal Stabbing at Chrysler Plant Halts Production
Porsche, Daimler Indicate Europe's Car Crisis Spreading
After Hiring Lull, Auto Industry Battling Silicon Valley for Best College Engineering Talent
Opinion: Let Go of 'Government Motors'
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Detroit 3 Said to Be Closing Hourly Cost Gap With Toyota

The Detroit Three are closing the hourly cost gap with Japanese competitor Toyota, a top industry expert said [Thursday]. Chrysler is expected to have lower U.S. hourly labor costs than Toyota by 2015, Center for Automotive Research chief economist Sean McAlinden projected at an AutoBeat Group conference in Dearborn. Hourly costs for General Motors and Ford will be slightly higher than Toyota in 2015, but the gap will be razor-thin, McAlinden said.
Source: Detroit Free Press

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CAW Reaches Tentative Agreement With GM; Chrysler is Up Next

The Canadian Auto Workers reached a tentative agreement with General Motors late Thursday and will now turn its attention to Chrysler. GM's agreement includes commitments to create or maintain 1,750 new jobs and investments totaling $675 million over the life of the four-year deal.
Source: Detroit Free Press

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Honda to Double Auto Sales Over 5 Years Led By Small Cars

Honda Motor Co., Japan’s third-biggest carmaker, plans to double sales in five years, driven by demand for small cars such as the Fit compact and new models in emerging markets including China and India. Honda is targeting to sell 6 million vehicles annually by March 2017, up from 3.1 million last fiscal year, President Takanobu Ito said.
Source: Bloomberg

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Buick and GMC Rolling Out 9 New or Refreshed Models

General Motors says it will roll out nine new or refreshed Buick and GMC models by the end of 2013, building on the brands' recent momentum. In addition, GM said it will re-introduce a GMC Canyon mid-sized pickup, which had been discontinued this year when the Louisiana factory where it was built shut down.
Source: Forbes

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U.S. Policies Promoting Electric Cars to Cost $7.5 Billion by 2019

Congress sees "little to no impact" on gasoline consumption

U.S. federal policies to promote electric vehicles will cost $7.5 billion through 2019 and have "little to no impact" on overall national gasoline consumption over the next several years, the Congressional Budget Office said in a report issued on Thursday.
Source: Reuters

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Study: Excitement and Technology Beat Gas Mileage as Priorities for Younger Car Buyers

High-tech features and a sense of excitement are more important to young car buyers than fuel efficiency, according to new data from research firm GfK. The company's report, released this week, notes that as Baby Boomers give way to Generations X and Y as the buyer market's dominant forces, smaller vehicle models may be seeing renewed popularity, but for reasons other than gas mileage.
Source: Auto Remarketing

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Fatal Stabbing at Chrysler Plant Halts Production

A fatal stabbing [Thursday] at Chrysler's Jefferson North assembly plant in Detroit, which builds Jeep Grand Cherokee and Dodge Durango SUVs, forced a halt to production and likely will cost the auto maker hundreds of units.
Source: WardsAuto

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Porsche, Daimler Indicate Europe's Car Crisis Spreading

Daimler AG and Porsche AG provided evidence that the worst European car market in 17 years has started to spread to the luxury brands, mirroring a broader recession that has spilled from southern Europe to Germany. Stuttgart, Germany-based Daimler said yesterday that operating profit at Mercedes-Benz Cars will fall this year, lowering a previous target of matching the 2011 figure, while Porsche plans to build fewer than the 155,000 cars and sport-utility vehicles originally planned for next year.
Source: Bloomberg

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After Hiring Lull, Auto Industry Battling Silicon Valley for Best College Engineering Talent

The auto industry is back on campus and hiring a different breed of engineer -- those who can help invent the next generation of complex software that pushes the envelope on m.p.g., clean emissions and crash avoidance technologies. The Detroit Three, Asian and European automakers and suppliers find themselves in a new recruitment arena battling Amazon, Apple, Facebook, SpaceX and others for the top software engineering talent.
Source: Detroit Free Press

Related Story:

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Opinion: Let Go of 'Government Motors'

It's time for the Treasury to sell its shares in GM and leave the auto industry to private investors

The taxpayer bailouts of General Motors and Chrysler kept the companies afloat while they went through bankruptcy, averting liquidations that would have caused catastrophic job losses across the U.S. auto industry at the height of the recession. The Treasury Department argues that the time isn't right to sell and that GM's shares are undervalued by the market. Maybe so, and maybe the ultimate cost to the taxpayers would be lower if Washington held on to the shares longer. But there's a more important principle at stake, namely that the government shouldn't have an ownership interest in private companies.
Source: The Los Angeles Times

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Quotable
"Our dealers have a lot of momentum in the marketplace right now."

   
-- Tony DiSalle, U.S. vice president of marketing for Buick and GMC, commenting on the automaker's plan to roll out new and refreshed models, Forbes, Sept. 20


 


 

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