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Inside this issue
NADA Offers Car Owners Post-Hurricane Advice on Water-Damaged Vehicles
Dealers Still Reeling After Sandy's Wrath
Ford's Succession Plan Takes Shape
Strong Auto Sales in U.S. Offset Weakness in Europe
GM Jumps Most Ever, Promising to Stanch Losses in Europe
Honda to Spend $200 Million to Expand Ohio Plants, Hire 200
Lights That Bring Out a Car's True Colors
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
NADA Offers Car Owners Post-Hurricane Advice on Water-Damaged Vehicles

NADA Offers 10 Inspection Tips to Detect Flood-Damaged Vehicles

NADA is urging vehicle owners to take caution before trying to start or move a rain soaked or flooded vehicle following the devastation caused by Hurricane Sandy. “The amount of damage depends on how long a vehicle has been submerged and how deep,” said NADA Chairman Bill Underriner. “A good rule of thumb is to take caution if a vehicle’s carpets have been wet for an extended period.” NADA recommends that affected motorists contact their auto insurer before attempting to move a water-damaged vehicle. “Do not try to start a vehicle that has been severely damaged by water,” Underriner warns. “Starting a vehicle even in a damp condition could cause harm to the driver and the vehicle’s onboard computers and wiring. A short in the electrical system can cause a shock, or worse, a fire.” Click here for NADA's 10 Inspection Tips to Detect Flood-Damaged Vehicles.
Source: NADAFrontPage.com

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Dealers Still Reeling After Sandy's Wrath

Many dealerships in New Jersey and parts of New York are still recovering and assessing damages caused by Hurricane Sandy, which hit the East Coast Monday evening. Mark Schienberg, president of the Greater New York Automobile Dealers Association, said about 60 percent of their dealers are still without power and were closed Wednesday. Dealerships in Long Island, Brooklyn and Staten Island were hit especially hard, he said. Out of the 435 new-car dealers who are members of the association, about 250 are on Long Island, Schienberg said. Schienberg said at last count Manhattan Ford lost 200 vehicles it had stored on a pier and Toyota estimates 4,000 to 4,500 of its vehicles were destroyed as the cars sat on a pier awaiting delivery to dealerships. As many as 800 Ford Motor Co. dealerships have been affected by the storm, Ford CFO Bob Shanks told Bloomberg on Monday. They remained closed Tuesday and Wednesday and he said he wasn't sure when most would reopen. About 24 Chrysler stores were closed Tuesday, a spokesman wrote in an e-mail to Automotive News. The National Automobile Dealers Association said widespread power outages are hampering communications between dealers and employees. Many dealership facilities are also inaccessible because of fallen trees and closed roads. In New Jersey, the state system for registering vehicles is down, so dealers that are open can't sell cars. Dealership employees who have been affected by the disaster are eligible to receive financial assistance from the Emergency Relief Fund of the National Automobile Dealers Charitable Foundation. “It will likely take days or even weeks before we start to get a clear picture of what's needed for storm relief,” said David Hyatt, vice president of public affairs for NADA.
Source: Automotive News

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Ford's Succession Plan Takes Shape

Ford announced today that CEO Alan Mulally will remain through 2014. But the company lined up Mark Fields, head of Ford Americas, as his heir-apparent. Fields becomes the company's chief operating officer.
Source: USA Today

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Strong Auto Sales in U.S. Offset Weakness in Europe

Shares of GM and Ford soar on positive earnings news

Despite slumping sales and continuing financial turmoil in Europe, the third quarter still turned out to be a profitable one for U.S. automakers. Both General Motors Co. and Ford Motor Co. saw earnings slip during the period compared with last year, but strong results from their operations in the U.S., and those in China for GM, allowed the automakers to post profits. Chrysler Group, the smallest of the Detroit Three, reported earnings nearly double last year's level. Wall Street took notice.
Source: The Los Angeles Times

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GM Jumps Most Ever, Promising to Stanch Losses in Europe

General Motors Co.'s biggest surprise yesterday wasn't earnings that beat estimates by 55 percent. It was that it expects to break even by the middle of the decade in Europe, a region where it has lost $17.3 billion since 1999. GM's pledge to end losses that it said may reach $1.8 billion this year in as soon as three years puts it on the same pace as Ford Motor Co. While GM's plan doesn't call for as many job cuts or plant closings, the Detroit-based automaker said it's making moves that will cut costs by $200 million this year and $500 million annually beginning next year. That's on par with the $450 million to $500 million in annual savings Ford promised from cutting its European factory capacity by 18 percent.
Source: Bloomberg

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Honda to Spend $200 Million to Expand Ohio Plants, Hire 200

Honda Motor Co., the No. 2 Asian automaker in U.S. light-vehicle sales, said it will spend $200 million on engine and transmission factories in Ohio and hire 200 workers there. The expansion of Honda's engine plant in Anna and a transmission factory in Russells Point is part of Honda's $1.2 billion in spending on U.S. plants the past two years, the company said today in an e-mailed statement.
Source: Bloomberg

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Lights That Bring Out a Car's True Colors

Dodge drivers are seeing red. Buick owners are being bathed in "ice blue." Ford buyers can push a button and pick a color to suit their mood. Some of the auto industry's most dazzling experiments with electricity are happening not under the hood but inside the passenger cabin, with so-called ambient lighting—fixtures designed to add a splash of color and some restaurant-style chic to a dark vehicle interior.
Source: The Wall Street Journal

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Quotable
"The impact on the industry is going to be quite severe."

   -- Mark Schienberg, president of the Greater New York Automobile Dealers Association, commenting on the aftermath of Hurricane Sandy, Automotive News, Oct. 31

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