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Inside this issue
Sandy May Have Damaged or Destroyed Up To 200,000 Cars
Flooded Cars Likely to Find Their Way to Market
Ally Offers Deferred Payments on New Chrysler, GM Cars for Sandy Storm Victims
American Suzuki Cleared to Borrow Up to $45 Million to Close U.S. Dealerships
Sales Outlook Hangs on Whether Fiscal Cliff is Avoided
7 Current and Former Auto Dealers Elected to Congress
Voters Resoundingly Approve 'Right to Repair' Ballot Question
Black is Back at Dodge
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Sandy May Have Damaged or Destroyed Up To 200,000 Cars

Hurricane Sandy destroyed tens of thousands of cars in the Northeastern U.S., and the storm's devastation could send ripples through the region's new and used auto markets for weeks. The National Automobile Dealers Association on Tuesday estimated that as many as 200,000 vehicles may have been damaged in the storm — a figure extrapolated from the devastation wrought by Hurricane Katrina. (For perspective, auto makers sold just over 1 million cars and trucks in October.) Sandy, NADA analysts say, doesn't appear to have destroyed as many vehicles, although the greater New York region is more populous than the areas hit by Katrina.
Source: The Wall Street Journal

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Flooded Cars Likely to Find Their Way to Market

Car buyers beware! That cream puff may have been submerged

Superstorm Sandy is gone but among the wreckage it left behind are thousands of cars and trucks damaged by flood waters. Many of these water-damaged vehicles may soon be finding their way to the marketplace, as scam artists buy cars totaled by insurers, thoroughly clean them and attempt to resell them. While there is no sure way to know if a vehicle has been damaged by flooding, the National Automobile Dealers Association offers 10 inspection tips that may be used to detect water damage....
Source: ConsumerAffairs.com

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Ally Offers Deferred Payments on New Chrysler, GM Cars for Sandy Storm Victims

Ally Financial Inc. said Wednesday it is implementing a payment deferral program for people living in areas impacted by Superstorm Sandy who buy a new Chrysler Group LLC or General Motors Co. vehicle financed through Ally. The program allows customers with good credit buying a new 2012 or 2013 vehicle in areas impacted by the storm to defer their first payment for up to 90 days. The deal runs through Jan. 2, 2013.
Source: The Detroit News

Editor's note: NADA is encouraging dealers who are looking for ways to help the victims of Hurricane Sandy to contribute to the Emergency Relief Fund of the National Automobile Dealers Association Charitable Foundation. The fund provides assistance to dealership employees affected by natural disasters. Click here for more information.

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American Suzuki Cleared to Borrow Up to $45 Million to Close U.S. Dealerships

Dealers to be offered cash to scrap franchise pacts

American Suzuki Motor Corp. won interim court approval to borrow as much as $45 million as it shuts auto dealerships and revamps motorcycle and boat sales under bankruptcy protection. Suzuki Motor Corp. will try to avoid long court battles with its 216 dealers by offering cash payments within 10 days if they voluntarily scrap their franchise agreements.
Source: Bloomberg

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Sales Outlook Hangs on Whether Fiscal Cliff is Avoided

One big question down. One very big one on the near horizon. To what extent can a re-elected President Obama work with a sharply divided Congress and resolve a fiscal crisis while keeping the feeble economy humming? The answer will play a major role in how strong the recovery in auto sales continues.
Source: Automotive News

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7 Current and Former Auto Dealers Elected to Congress

All seven current and former auto dealers running for seats in the U.S. House of Representatives won on Election Day, mostly by comfortable margins. Winners include Roger Williams, R-Texas, a former Texas secretary of state who runs a Chrysler-Dodge-Jeep-Ram store in suburban Fort Worth, and Jim Renacci, R-Ohio, the co-owner of a Chevrolet dealership that was rejected as General Motors went through bankruptcy. Winning re-election by more comfortable margins Tuesday were: Scott Rigell, R-Va, who owns Ford and Volvo dealerships; Mike Kelly, R-Pa., who owns a Chevrolet store; Vern Buchanan, R-Fla., who has sold some of his several dealerships and had his Dodge dealership rejected during the Chrysler bailout; John Campbell, R-Calif., who sold several dealerships, including one of the first Saturn stores, when elected in 2004; and Bill Shuster, R-Pa., who sold his Chrysler dealership when first elected in 2000.
Source: Automotive News

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Voters Resoundingly Approve 'Right to Repair' Ballot Question

Massachusetts voters resoundingly passed the “Right to Repair” ballot question, meaning the new law requiring automakers to provide independent repair shops as well as dealers with easy access to the computer codes needed to diagnose complex car problems will need to be reconciled with compromise legislation passed after the ballots were approved. Legislators could also decide to re-approve the compromise. The regulations are the first of their kind in the nation.
Source: Boston.com

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Black is Back at Dodge

Black is back in a big way when it comes to Dodge. Just as Jeep scored with its all-blacked-out Altitude series of vehicles, Chrysler Group's Dodge division is betting that its equally noir editions of the Avenger, Challenger R/T and Charger R/T to its Blacktop lineup. They are the Dodge Blacktop vehicles, joining one that's already out there, the Charger SXT Blacktop. Everything is black -- paint, wheels, crosshair-style grille, spoilers and yes, um, even the tires. The bezels over the headlights aren't black, strictly speaking, but they are darkened.
Source: USA Today

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NADA Foundation Mobilizes Relief Fund to Assist Victims of Hurricane Sandy





Quotable

"We recognize the devastation and difficulty caused by the superstorm, and Ally Financial is offering this program as a means to provide some relief to people who need to purchase a new vehicle in the affected areas."

   
-- Tim Russi, executive vice president of Ally's North American operations, commenting on the company's payment deferral program for those affected by Hurricane Sandy, The Detroit News, Nov. 7

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