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Inside this issue
NADA to Automakers: Stop Unfair Business Practices
Akerson: GM Wants Investment-Grade Interest Rate for Expanded Credit Line
Europe Price War Ramps Up Automaker Tensions
Automakers Turn Eyes to Brazil
GM Fixing 2013 Volt Software Glitch that Affects Motor
Americans Buying Fewer New Cars Over a Lifetime, Research Suggests
Ford Tough: J.C. Lewis Ford Dealership Marks 100 Years in Business in Savannah
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
NADA to Automakers: Stop Unfair Business Practices



Bill Underriner

NADA Chairman Bill Underriner outlined two contentious factory issues facing new-car dealers and urged automakers to support a level playing field for dealerships of all sizes. “Two-tier pricing and mandatory facility upgrades are symptoms of a bigger overall problem -- manufacturer intrusion into dealers’ businesses,” Underriner said today in remarks to the Automotive Press Association in Detroit. “NADA wants the automakers to stop unfair practices.” This summer, NADA created a special dealer task force to focus on the fairness of stair-step programs, also referred to as two-tier pricing, which is a manufacturer-to-dealer incentive tied to sales goals. “The history of our industry is littered with automaker attempts to impose one-size-fits-all programs on dealers. These efforts at top-down control almost always fail,” added Underriner, a Buick, Honda, Hyundai and Volvo dealer in Billings, Mont. NADA has also commissioned its second study on factory-mandated dealership renovation programs to analyze the return on investment. Click here for Underriner's speech.
Source: NADAFrontPage.com

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Akerson: GM Wants Investment-Grade Interest Rate for Expanded Credit Line

General Motors Co., which has junk credit ratings, aims to double its revolving credit line to $10 billion at the same interest rates as if it were an investment-grade company, CEO Dan Akerson said. Securing access to lending at investment-grade interest rates would signal that the lending markets see GM's turnaround plan as a success.
Source: Bloomberg

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Europe Price War Ramps Up Automaker Tensions

Discounting said to be at worst levels since Lehman crisis

Tensions are rising among car manufacturers in Europe as they blame each other for a profit-killing price war. With European car sales likely to slip to their lowest level since 1995 as austerity measures reduce consumers' buying power, volume brands are offering average discounts of 20 percent in key European markets to try and sell their new cars.
Source: Automotive News

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Automakers Turn Eyes to Brazil

With Europe's economy sagging and China's slowing, the world's automakers have turned their attention to Brazil, a strong growth market and home to the up-and-coming Sao Paulo auto show. Most of the players are investing heavily in Brazil and other South American markets, with fresh products and manufacturing plants, to try to take advantage of expanding economies and strong demand for new cars and trucks.
Source: The Detroit News

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GM Fixing 2013 Volt Software Glitch that Affects Motor

General Motors Co is updating the software on about 4,000 Chevrolet Volt plug-in hybrid vehicles to fix a problem that could cause the electric motor to shut down while driving. The glitch only affects 2013 Volts when owners use the delayed charging function, which allows them to program the vehicle to recharge at specific times.
Source: Reuters

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Americans Buying Fewer New Cars Over a Lifetime, Research Suggests

Chalk another one up for the recession and how it has altered life in America. New analysis by the automotive research firm Polk shows Americans can now expect to buy fewer new cars during their lifetime. On average, we'll buy almost four fewer new cars by the time each of us hits 76 years old, the age when Polk believes most people are done buying new vehicles. “The days when you bought a vehicle for 4 or 5 years are likely over,” said Anthony Pratt, Polk director of forecasting.
Source: CNBC

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Ford Tough: J.C. Lewis Ford Dealership Marks 100 Years in Business in Savannah

To get an idea of how long J.C. Lewis Ford has been selling cars and trucks in Savannah, consider what the dealership accepted as a trade-in on their first deal. “A horse,” said Walter Lewis, who now heads the family business on Abercorn Street. “Or so we’ve been told.” Lewis' lack of first-hand knowledge is forgivable — he wouldn't be born until decades later. He is the third generation of the Lewis family to operate the now 100-year-old dealership.
Source: Savannah Morning News

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Quotable
"Two-tier pricing and mandatory facility upgrades are symptoms of a bigger overall problem -- manufacturer intrusion into dealers' businesses."

   
-- NADA Chairman Bill Underriner, in remarks today to the Automotive Press Association in Detroit, NADAFrontPage.com, Oct. 23

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