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Inside this issue
VW Faces Profit Drop as Debt Crisis Ends German Immunity
Marchionne Mulls Italian Chryslers to Fix Fiat Mismatch
Restoring the Luster of Lincoln
Auto's Next Hiring Boom May Not Be from Silicon Valley
GM, HP Ink Software, Service Deal Second to None Globally
Toyota Prius is Best Selling Car in California; Domestics Lag
After Bankruptcy of A123 Systems, Fisker Keeps Calm and Carries On
Volvo Replaces CEO Jacoby With Former MAN Boss Samuelsson
All-New Corvette to be Revealed in January, Out in Q3
Baseball and Car-Loving Texan Buys Babe Ruth's Lincoln
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
VW Faces Profit Drop as Debt Crisis Ends German Immunity

Volkswagen AG is due to report its biggest quarterly earnings drop since 2009, while Daimler AG is cutting costs to lift sagging profit at Mercedes-Benz, hinting that German carmakers have lost their immunity to Europe's economic woes. VW, Daimler and Bayerische Motoren Werke AG (BMW) are no longer able to entirely sidestep softening European auto demand by shifting cars to China and other markets, as the effects of austerity begin to ripple beyond Italy, Spain and Portugal. “The European crisis has definitely reached the Germans,” said Stefan Bratzel, director of the Center of Automotive Management at the University of Applied Sciences in Bergisch Gladbach, Germany.
Source: Bloomberg

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Marchionne Mulls Italian Chryslers to Fix Fiat Mismatch

With Europe's auto market in a nosedive, Fiat SpA's Italian operations are running at just half capacity. Chrysler Group LLC's are flat out as its sales boom. So why not build Chryslers in Italy? That's what Sergio Marchionne, chief executive of both companies, is considering to ease the pressure on the U.S. carmaker and keep Italian workers on the job, according to three people familiar with the matter.
Source: Bloomberg

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Restoring the Luster of Lincoln

Ford aims to revive brand by making its MKZ more personal

Ford Motor Co.'s Lincoln brand is undergoing a reinvention, hoping to become a real player in the luxury vehicle market by offering buyers a personalized and premium product lineup. Lincoln's remake unofficially kicks off later this year with the debut of the new MKZ sedan. Lincoln's plan will include three additional new vehicles in the next few years, and comes at a time when the brand's sales have been — at best — stagnant.
Source: The Detroit News

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Auto's Next Hiring Boom May Not Be from Silicon Valley

At the second annual Autobeat Insider Conference in Dearborn, Mich., the chatter among top executives in the know revolved around the frustration in attracting West Coast engineers to the Motor City. The problem, some say, is that no one wants to jump from the software industry to the auto industry. Top brass and insiders agree that the next wave of hiring may come from the consumer-electronics industry.
Source: WardsAuto

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GM, HP Ink Software, Service Deal Second to None Globally

General Motors in the next few months will deploy the largest batch of software and support services Hewlett-Packard has anywhere in the world, as the auto maker works to accelerate and upgrade its information-technology operations. GM reveals earlier today that it has purchased the software and services from HP as part of a previously disclosed plan to move applications development, support and high-performance operations computing capabilities in-house after outsourcing the work to HP for many years. The contract will result in 3,000 current HP employees joining GM.
Source: WardsAuto

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Toyota Prius is Best Selling Car in California; Domestics Lag

When it comes to auto brands, Californians like their passenger cars from Japan, their luxury cars from Germany and their muscle cars from Detroit. The Toyota Prius beat out all other cars, trucks and sport-utility vehicles to be the best selling passenger vehicle of any type in California through the first nine months of this year. Toyota sold 46,380 of the hybrids in the Golden State, according to a report from AutoCount, the car data division of Experian Co., and the California New Car Dealers Assn.
Source: The Los Angeles Times

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After Bankruptcy of A123 Systems, Fisker Keeps Calm and Carries On

At the Luxury Review, an annual showcase in Chelsea for makers of big-ticket apparel, jewelry, liquor, single-origin chocolate bars and motorized conveyances, bankruptcy may be considered gauche cocktail conversation. But parked at the center of the Metropolitan Pavilion space on West 18th Street on Wednesday evening was the Fisker Karma, the $100,000 plug-in hybrid sedan, packing lithium-ion batteries supplied by the newly bankrupt A123 Systems. Executives for the start-up automaker were still absorbing the news of A123's bankruptcy, filed on Tuesday. A123 is the sole supplier of lithium-ion batteries for the Karma ...
Source: The New York Times

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Volvo Replaces CEO Jacoby With Former MAN Boss Samuelsson

Board wants new chief to take company into 'new phase'

Volvo today named Hakan Samuelsson, the former head of German truck maker MAN, as its new CEO. Samuelsson, 61, replaces Stefan Jacoby, 54, who suffered a mild stroke last month. The move is effective immediately. The board's vice chairman said Jacoby's health was not the reason for the decision and the board wanted a new CEO to take the company "into a new phase."
Source: Automotive News

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All-New Corvette to be Revealed in January, Out in Q3

Chevrolet said today that it will unveil the highly anticipated C7 -- the seventh-generation Corvette -- Sunday, Jan. 13, 2013, at an event ahead of the Detroit Auto Show that begins that week. The all-new 2014 'Vette then will begin production in third-quarter after a six-month shutdown of the Bowling Green, Ky., plant to retool. Because of the shutdown, Chevy said the cutoff for guaranteed orders for the current C6 Corvette is the end of this month.
Source: USA Today

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Baseball and Car-Loving Texan Buys Babe Ruth's Lincoln

Lonnie Shelton finally owns the car that hits it out of the park when it comes to fulfilling fantasies — a regal blue 1948 Lincoln Continental two-door hardtop coupe. It was Babe Ruth's last car.
Source: The Associated Press

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Quotable
 "We'd rather have a few people love us, than everyone like us."

   
-- Jim Farley, Ford's group vice president of marketing and sales, commenting on the reinvention of the Lincoln brand, The Detroit News, Oct. 19


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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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