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Inside this issue
Auto Bailout, Energy Hot Topics in Presidential Debate
A123 Files for Bankruptcy, Plans to Sell Automotive Battery Business to JCI
Europe Headed for Biggest Sales Plunge in 19 Years
Chevrolet Sales Up 3% in 3rd Quarter, GM Says
GM Investing $35 Million in Detroit Plant to Build Cadillac EV
Smail Auto Group Goes Pink to Support Breast Cancer Awareness
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Auto Bailout, Energy Hot Topics in Presidential Debate

President Barack Obama and Republican challenger Mitt Romney for several months have been separately discussing the benefits and liabilities of the auto bailout, but on Tuesday night they got to argue about it face-to-face. And with the bailout being a key issue in swing states Ohio and Michigan, it took about a minute into the town hall debate for President Obama to go on the attack when asked by a college student about unemployment. The president also didn't take long to bring up his energy position.
Source: Automotive News

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A123 Files for Bankruptcy, Plans to Sell Automotive Battery Business to JCI

Lithium-ion battery maker A123 Systems Inc. filed for Chapter 11 bankruptcy protection [Tuesday] in U.S. Bankruptcy Court in Delaware and said Johnson Controls Inc. has agreed to acquire its automotive battery business. The total transaction price is $125 million, the statement said.
Source: Crain's Detroit Business

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Europe Headed for Biggest Sales Plunge in 19 Years

European car deliveries headed for their biggest annual plunge in 19 years after the region's deliveries tumbled 11 percent in September. Registrations last month dropped to 1.13 million vehicles from 1.27 million a year earlier, the Brussels-based European Automobile Manufacturers' Association, or ACEA, said [Tuesday]. Nine-month sales fell 7.2 percent. The market is now on track to decrease as much as 10 percent in 2012, the worst sales slump since the aftermath in 1993 of the region's currency crisis, the ACEA said.
Source: Bloomberg

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Chevrolet Sales Up 3% in 3rd Quarter, GM Says

General Motors Co. said Tuesday its Chevrolet brand sales across the globe grew 3.1 percent to more than 1.25 million during the third quarter compared to the same period in 2011. It marks the brand's eighth straight quarter of record sales.
Source: The Detroit News

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GM Investing $35 Million in Detroit Plant to Build Cadillac EV

General Motors will build the Cadillac ELR extended-range electric vehicle at its Detroit-Hamtramck facility, North America President Mark Reuss announces at the SAE Convergence conference here. However, the auto maker is sinking an additional $35 million into the plant for ELR production, bringing GM's total investment in the assembly facility to $561 million since December 2009.
Source: WardsAuto

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Smail Auto Group Goes Pink to Support Breast Cancer Awareness


Smail GMC in Greensburg, Pa., turns pink in support of Breast Cancer Awareness Month.

In honor of Breast Cancer Awareness Month, a Pennsylvania dealership group has gone pink, splashing vast pink ribbons across all eight of their buildings. Smail Auto Group says the pink ribbons are making more than a visual statement: The auto group is also donating $100 for every new and used vehicle sold at Smail dealerships throughout the month of October.
Source: Auto Remarketing

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Quotable
"Chevrolet is connecting with more consumers around the world thanks to the strongest product lineup in the brand's history." 

   
-- Chris Perry, Chevrolet vice president of global marketing, commenting on the automaker's 3% sales increase during the 3rd quarter, The Detroit News, Oct. 16


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NADA Chairman Bill Underriner will discuss the state of the retail-auto industry at the Automotive Press Association luncheon in Detroit on Tuesday, Oct. 23. Underriner will discuss opposition to stair-step incentive programs and the latest developments concerning factory-mandated dealership upgrade programs. A recent NADA facilities study found no evidence that facility improvements result in any sales gains, either short term or long term. It's a point of contention between some dealers and some manufacturers.


 


 

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