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Inside this issue
Report: Global Autos to Double to 1.7B by 2035
VW Brand Sales Rise 16.3% in October
GM Close to Stake in Ally Foreign Operations
Trust: Fiat Must Pay $342M to Boost Stake in Chrysler
Fiat Taps Altavilla to Lead Restructuring in Europe
About 800 Sandy-Damaged Ford Vehicles to be Scrapped
Porsche to Scrap weekend Shifts on Weak Demand, Report Says
Ford's Transit Connect Wagon to Debut, Just Don't Call it a Minivan
More Women Have Driver's Licenses than Men in US
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Report: Global Autos to Double to 1.7B by 2035

The International Energy Agency predicts the number of passenger vehicles on the world's roads will more than double to 1.7 billion over the next 23 years. In a 670-page report on world energy trends, the IEA says the world will see passenger cars and trucks rise from 870 million today to 1.7 billion in 2035, fueled by growth in developing countries.
Source: The Detroit News

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VW Brand Sales Rise 16.3% in October

China, U.S. demand offsets fall in western Europe deliveries

Volkswagen said on Tuesday that global sales of its core brand jumped 16.3 percent in October to 501,300 vehicles, the second-largest gain of the past eight months. The automaker increased sales in most major markets except western Europe, with strong demand in China, the United States and Russia helping to offset a continuing decline in deliveries in European markets such as Germany, Italy, France and Spain, where low consumer confidence is keeping buyers out of showrooms.
Source: Automotive News

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GM Close to Stake in Ally Foreign Operations

General Motors Co. is nearing a deal to acquire some of the international operations of its former mortgage unit Ally Financial for about $4 billion, a person briefed on the matter said. Ally, once a wholly owned General Motors Corp. subsidiary known as GMAC, is shedding its foreign operations to repay the U.S. government's $17.2 billion bailout. The U.S. Treasury owns a 74 percent majority stake as part of its bailout. Ally so far has repaid $5.9 billion of its bailout. Ally's remaining international businesses include automotive finance operations in Europe and Latin America. A deal to sell the operations could be announced this week.
Source: The Detroit News

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Trust: Fiat Must Pay $342M to Boost Stake in Chrysler

Fiat SpA, the automaker planning to merge with Chrysler Group LLC, must pay at least $342 million to boost its ownership stake to almost 62 percent, the U.S. automaker's minority shareholder said Monday in a court filing.
Source: Bloomberg

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Fiat Taps Altavilla to Lead Restructuring in Europe

Fiat said [Monday] that it has appointed Alfredo Altavilla chief operating officer of its struggling European division. The Italian automaker said Altavilla will continue to coordinate business development activities for the Group. Altavilla will take over the COO duties from Gianna Coda, who is retiring after 33 years, as Fiat launches a turnaround plan designed to increase sales and production globally of Alfa Romeo, Maserati and Jeep. Fiat, Chrysler's majority owner, is struggling with losses in Europe mostly because industry sales have declined for five consecutive years during the region's deep recession.
Source: Detroit Free Press

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About 800 Sandy-Damaged Ford Vehicles to be Scrapped

About 800 Ford Motor Co. vehicles will need to be scrapped from Superstorm Sandy damage, mainly at dealerships, Ford's chief sales analyst, Erich Merkle, said today. So far, automakers have reported nearly 17,000 new vehicles damaged by Sandy, most of which will be scrapped. On Wednesday, Chrysler Group said it lost 759 vehicles. General Motors has not yet released an estimate of damaged vehicles -- the only major automaker not to do so 11 days after the storm made landfall in New Jersey.

Tracy Beck, a South Dakota Chevrolet and Cadillac dealer, donated $2,500 to the National Automobile Dealers Charitable Foundation emergency relief fund to help dealership employees affected by Sandy through his business. Dealers can apply to the fund on behalf of their employees after natural disasters. In 2011, four of Beck's employees received a total of $4,250 from the fund to help repair their homes and property after the Missouri River flood hit the area. There was no major damage to the dealership, but employees' homes and property needed repair. When Beck heard of the dealership employees hit by Sandy, he wanted to return the favor. "What comes around goes around," he said. "It's a great way for dealers to help out other employees." The fund has pledged more than $1.3 million since Sandy struck. Of that, $1 million was donated by the National Automobile Dealers Association, and $315,000 from state and metro dealer associations, including $250,000 from the Greater New York Automobile Dealers Association. This adds to the $112,000 that was already in the fund. So far, 32 East Coast dealership employees have received $30,750 from the fund. NADA is still accepting applications as dealers to assess the damage. After Hurricane Katrina, the relief fund gave nearly $3.5 million to 5,600 dealership employees. In 2008, after hurricanes Ike and Gustav, the fund gave $570,000 to 1,000 dealership employees. After those storms, requests for assistance came in over six months, said David Hyatt, NADA's vice president of public affairs.
Source: Automotive News

Editor's note: To apply for assistance or donate to the Emergency Relief Fund, click here.

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Porsche to Scrap weekend Shifts on Weak Demand, Report Says

Porsche will halt weekend production of two-seater sports cars at its biggest plant next year as Europe's deepening debt crisis is eroding demand for luxury vehicles, company sources told Reuters. Porsche will limit the working week to five days at its headquarters factory in Zuffenhausen, Germany, from January, the sources said [Monday] on condition they not be identified because the matter is confidential.
Source: Reuters

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Ford's Transit Connect Wagon to Debut, Just Don't Call it a Minivan

The Transit Connect Wagon will debut later this month at the Los Angeles Auto Show. It's set to go on sale late next fall. To the average buyer — or, in fact, to everyone outside of Ford Motor Co. — it will appear that Ford is getting back into the minivan business after a six-year hiatus.
Source: Associated Press 

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More Women Have Driver's Licenses than Men in US

Women have passed men on the nation's roads. More women than men now have driver's licenses, a reversal of a longtime gender gap behind the wheel that transportation researchers say is likely to have safety and economic implications.
Source: Associated Press

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Quotable
"What comes around goes around. It's a great way for dealers to help out other employees." 

   
-- Tracy Beck, a South Dakota dealer, donated $2,500 to the National Automobile Dealers Charitable Foundation emergency relief fund to help dealership employees affected by Hurricane Sandy. In 2011, four of Beck's employees received a total of $4,250 from the fund to help repair their homes and property after the Missouri River flood, Automotive News, Nov. 9

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