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Inside this issue
October U.S. Sales Predicted to Rise 11% with 14.8M Annual Rate
Toyota Global Vehicle Sales Up 28 Pct in Jan-Sept
Hyundai Beats Expectations with 13% Net Income Rise
Kia Profit Misses Estimates After Union Strikes; Shares Fall
For Lincoln, Less Will Prove To Be More: Ford CMO Farley
Ford Attacks Europe Woes as Losses Mount
Fiat Strategy in Europe at Issue as Latest Financial Results Emerge
Scion Campaign Shows Brand's Shift Toward Older Millennials
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
October U.S. Sales Predicted to Rise 11% with 14.8M Annual Rate

U.S. light-vehicle sales will rise 11 percent to 1.13 million units in October from a year earlier, J.D. Power and Associates predicted [Thursday]. October's seasonally adjusted annual selling rate is expected to be 14.8 million, down slightly from September's 14.9 million rate. But at 14.8 million, the sales rate would still be the second-highest since March 2008.
Source: Automotive News

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Toyota Global Vehicle Sales Up 28 Pct in Jan-Sept

Toyota sold 7.4 million vehicles around the world in the first nine months of the year, up 28 percent from a year earlier, but its strong growth faces headwinds from a sales plunge in China that could unseat it as the world's top automaker.
Source: Associated Press

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Hyundai Beats Expectations with 13% Net Income Rise

Hyundai Motor Co. reported a 13% increase in its third-quarter net profit, beating analysts' average forecast, as shifting more production overseas helped offset the impact of strikes at the South Korean car maker's local factories. The company also said Thursday that it is on track to exceed its sales target for this year.
Source: The Wall Street Journal

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Kia Profit Misses Estimates After Union Strikes; Shares Fall

Kia Motors Corp., South Korea's second largest carmaker, reported profit that missed analysts' estimates after labor protests led to the company's second-worst strike in the past decade. Third-quarter net income rose 28 percent to 829.5 billion won ($756 million), compared with 647.9 billion won a year earlier, the Seoul-based company said in a statement today. That missed the 974.6 billion won average of 28 analyst estimates compiled by Bloomberg.
Source: Bloomberg

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For Lincoln, Less Will Prove To Be More: Ford CMO Farley

Ford apparently is starting to look at Lincoln's relatively bare product cupboard as an advantage. At the opening of the first fully dedicated Lincoln Design Studio in 40 years, Farley acknowledged the long quiescence of Lincoln in the U.S. market, which is set to begin to end with the launch of the redesigned MKZ sedan in November. But he maintained that Lincoln's lack of relevance over the last few years actually has set the brand up for a stirring revival in the U.S. market in at least two ways: unshackling its new product line from past expectations, and boosting the service quotient in Lincoln dealerships that have been relatively quiet of late.
Source: Forbes

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Ford Attacks Europe Woes as Losses Mount

Ford Motor [Thursday] laid out a North American-style turnaround plan for its money-losing European operations, including the closure of three facilities and the elimination of 6,200 jobs, or 13 percent of its European workforce. The plan, which includes both cost reductions and stepped-up investments in new products, addresses a grim outlook for Europe, where vehicle sales have fallen 20 percent since 2007.
Source: Forbes

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Fiat Strategy in Europe at Issue as Latest Financial Results Emerge

Fiat is struggling to balance the demands of unions worried about Italian jobs and factories with the task of reassuring investors it is tackling profit-sapping excess production capacity. The Italian carmaker is preparing to present third-quarter results and has pledged to give a strategy update on October 30, just days after a perfect storm of plant closures, plunging profit and a state bailout rocked Europe's automotive industry.
Source: Reuters

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Scion Campaign Shows Brand's Shift Toward Older Millennials

A new marketing campaign by Scion underscores the brand's decision to target older Millennials instead of the recent college graduates who were the brand's original target. Scion's Motivate promotion also generally demonstrates how the plague of unemployment and financial malaise among young twenty-somethings is forcing brands to look elsewhere for growth.
Source: Forbes

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Quotable
"Using the same One Ford plan that led to strong profitability in North America, we will address the crisis in Europe with a laser focus on new products, a stronger brand and increased cost efficiency." 

   
-- Alan Mulally, Ford president and CEO, commenting on the automaker's European turnaround plan, Forbes, Oct. 25

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