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IMPORTANT NOTICE: NADA headquarters in McLean, Va., and legislative offices in D.C. will be closed Monday and Tuesday due to Hurricane Sandy.
Inside this issue
East Coast Dealers 'Battening Down the Hatches' for Hurricane Sandy
Ford Caps Turnaround Effort
Toyota Building Global Sales Lead Over GM
Honda Profit Jumps, Lowers Forecasts on China Woes
Ford Joins GM in Europe Morass With $1B Total Losses
Marchionne Seen Missing Fiat Sales Target by $19 Billion
At SEMA, Toyota Avalon Tries Hanging With the Cool Kids
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
East Coast Dealers 'Battening Down the Hatches' for Hurricane Sandy

Auto dealers in the Northeast are closely monitoring Hurricane Sandy, which some forecasters predict may become the worst storm to hit the region in more than 100 years. Sandy's punch may be felt from Virginia to Massachusetts, said Rick Knabb, director of the National Hurricane Center. High wind warnings and watches for gusts as strong as 70 miles per hour stretch from Maine to North Carolina and as far west as Ohio, according to the National Weather Service. Flood watches and warnings cover most of the Northeast and mid-Atlantic coasts. The New York State Automobile Dealers Association on Friday said dealers are more prepared this time after dealing with Hurricane Irene in August 2011, which killed at least 45 people. Robert Glaser, president of the North Carolina Automobile Dealers Association, said: "We've been through storms before. Dealers have a pretty good plan for how to deal with them." The National Auto Dealers Charitable Foundation's emergency relief fund offers emergency assistance to dealership employees who have been affected by natural disasters such as hurricanes. The funds are donated by the dealers who are members of the National Automobile Dealers Association. After disaster strikes, dealers can apply for emergency funds on behalf of their employees. Since the fund was established in 1992, nearly $5 million has been given to more than 7,700 dealership employees in need.
Source: Automotive News

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Ford Caps Turnaround Effort

Ford Motor Co.'s expected sale of an auto-parts business on Monday will complete a six-year-long restructuring engineered by the executive seen as the front-runner to become its next CEO. The sale of a small air-conditioning and heating parts plant marks the final step in a 2006 plan to slash Ford's North American workforce and sell its Visteon Corp. parts plants put in place by Mark Fields, the head of Ford's North American operations. That effort helped Ford avoid the government-financed bankruptcies that befell rivals General Motors Co. and Chrysler Group LLC.
Source: The Wall Street Journal

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Toyota Building Global Sales Lead Over GM

Toyota executives say they don't care about being the world's top selling automaker, but we suspect they do. Toyota is widening its lead over General Motors when it comes to global auto sales, putting it squarely on the comeback after its quality debacle in the U.S. and the earthquake and tsunami that several damaged factories in Japan in March, 2010, various news sources reported last week. Toyota's sales are up 28% this year while GM's are almost flat by comparison, up 2.5%, the Associated Press points out.
Source: USA Today


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Honda Profit Jumps, Lowers Forecasts on China Woes

Honda's quarterly profit surged 36 percent as Japanese automakers bounced back from last year's tsunami disaster in northeastern Japan, but the company lowered its annual forecasts Monday because of a sales plunge in China. Honda Motor Co. raked in an 82.2 billion yen ($1 billion) net profit for the July-September quarter.
Source: The Associated Press

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Ford Joins GM in Europe Morass With $1B Total Losses

General Motors Co. and Ford Motor Co., struggling to reverse growing losses in Europe, will each post plunging profits this week as they take different paths to fixing their operations in that economically ravaged region.
Source: Bloomberg

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Marchionne Seen Missing Fiat Sales Target by $19 Billion

Fiat SpA Chief Executive Officer Sergio Marchionne set a target two and a half years ago to sell 6 million cars annually by 2014, a goal that analysts and industry observers at the time deemed impossible to achieve. They were right. Marchionne, who runs both the Italian automaker and Chrysler Group LLC, has said he will revise his forecasts when the two companies announce third-quarter results tomorrow. Analysts estimate his sales target will need to come down by 15 billion euros ($19 billion).
Source: Bloomberg

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At SEMA, Toyota Avalon Tries Hanging With the Cool Kids

The full-size Avalon sedan, often damned with faint praise as Toyota’s Buick, is aiming for a different image, if not a different demographic, with a complete redesign for the 2013 model year. In an effort to give the Avalon a charisma transplant, Toyota is dressing it up in various new guises for this year’s Specialty Equipment Market Association Show.
Source: The New York Times

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Quotable
"We're battening down the hatches so we'll be ready to go. If someone needs an oil change, we'll be here."

    -- Rhode Island dealer Paul Masse, in preparation for Hurricane Sandy, has set up generators to back up his two Chevrolet and two Buick-GMC stores, Automotive News, Oct. 28

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