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Inside this issue
East Coast Dealerships Assess Damages After Hurricane Strikes
Flood-Damaged Cars: Don't Get Soaked
GM Q3 Profit Falls 14% on Weak Europe, Higher N.A. Costs
Ford Reports $1.6B Profit in 3Q
Chrysler's 3Q Profit Rises 80%
NADA: Rise in New-Vehicle Demand Helps Stabilize Used Prices
Most Haunting Rides of Film and TV
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
East Coast Dealerships Assess Damages After Hurricane Strikes

Hurricane Sandy, the largest tropical storm the Atlantic has ever seen, hit southern New Jersey Monday evening, affecting sales and damaging inventory at dealerships there, as well as other East Coast states. Up to 800 Ford Motor Co. dealerships are affected by the storm, Ford CFO Bob Shanks told Bloomberg [Tuesday]. In central New Jersey, the DCH Auto Group was dealing with the mess today. The dealership group has nine stores that remain closed and could be severely damaged because they were located in the counties declared disaster areas, said Roy Bavaro, director of corporate marketing at DCH Auto Group in South Amboy, N.J. The group's headquarters is without power after a backup generator went down. "Once it's safe to travel, we'll have managers travel to our dealerships to assess our damage," Bavaro said. "It's still a state of emergency, and officials are asking that all nonessential vehicles remain off the roads."
Source: Automotive News

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Flood-Damaged Cars: Don't Get Soaked

Here's how to protect yourself and avoid buying a flood-damaged car or truck

Whether it's post-Sandy news reporting from New Jersey or an update on spring flooding in the Red River Valley, the images are similar: inundated neighborhoods, cows in boats — and submerged cars. We hope the neighborhoods are cleaned up quickly and the cows returned to pasture, but what happens to all those cars? Carfax estimates that more than half of these flood-damaged cars end up back on the road, often in the hands of an unsuspecting owner many states away. "It is often not easy to identify a flood-damaged car," says Bailey Wood, spokesman for the National Automobile Dealers Association. "People who try to resell these cars purchased from insurance auctions may have done a very good job of cleaning the vehicle and know how to remove a flood 'brand' from the title. No reputable dealer wants to sell a flood-damaged vehicle, because it's likely to have problems in the future."
Source: MSN Autos

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GM Q3 Profit Falls 14% on Weak Europe, Higher N.A. Costs

General Motors' third-quarter net profit slid 14 percent, hurt by wider losses in Europe, higher costs in North America and a less-profitable mix of sales in several markets. Net income was $1.48 billion for the July-September period, down from $1.73 billion a year earlier, the company said today in a statement. Stronger volumes and prices in North America and Asia were offset by a shift in production to smaller cars, which are less profitable.
Source: Automotive News

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Ford Reports $1.6B Profit in 3Q

N. American margin offsets loss in Europe

Ford's $1.6-billion, third-quarter profit was slightly less than what it made a year ago, but a stunning 12% profit margin in North America more than offset Ford's loss in Europe. "This is the third quarter in a row where we earned over $2 billion ($2.3 billion in North America) and the third quarter in a row with an operating margin over 10%," said Chief Financial Officer Bob Shanks.
Source: Detroit Free Press

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Chrysler's 3Q Profit Rises 80%

$381 million net income should help offset losses Fiat is expected to announce

Chrysler Group LLC reported a net profit of $381 million for the third quarter of 2012 on Monday, up 80 percent from the $212 million profit the company reported for the same period a year ago. It was further proof that the Auburn Hills automaker's recovery is continuing, and should help offset the losses that its Italian parent company, Fiat SpA, [was] expected to announce [Tuesday].
Source: The Detroit News

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NADA: Rise in New-Vehicle Demand Helps Stabilize Used Prices

After three years of dramatic growth, the average price of used cars and light trucks will rise a modest 1 percent to almost $14,500 this year, the National Automobile Dealers Association (NADA) Used Car Guide predicts in its latest special report. This is part of a continuing trend of decreased prices for used vehicles. During the two-year period from 2009 to 2011, the average price of used vehicles up to 8-years-old increased by 19.7%, or $2,356. But from 2010 to 2011, the average price increased 7.6%. "This year, used-vehicle price growth hasn't been as robust as the past few years, in part because traditional new-vehicle buyers who purchased used vehicles during the recent economic downturn are returning to the new-vehicle market," said Jonathan Banks, executive automotive analyst with the NADA Used Car Guide. The report, NADA Used Vehicle Price Forecast: Winter/Spring 2012-2013, was released today.
Source: NADAFrontPage.com

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Most Haunting Rides of Film and TV

Sometimes the car is the weapon, the bringer of carnage and misery. At other times, the car is the killer itself, a machine fueled by raw malice. And occasionally it's simply how Hollywood's more stylish ghouls and ghoul hunters get from point A to point B. Click here for a chilling review of some of the most haunting cars, trucks and choppers from the last half-century of TV and movies.
Source: MSN Autos

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Quotable
"Clearly this is going to have an impact on industry sales towards the end of the month and maybe early November. But all of our plants and our suppliers fortunately are continuing to operate as normal."

   -- Bob Shanks, Ford CFO, commenting on the impact of Hurricane Sandy on dealerships affected by the storm, Automotive News, Oct. 30

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