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Inside this issue
Consumer Demand for New Vehicles Continues to Grow
Relaxed Lending, Wider Credit Can Propel U.S. Car Sales Only So Far, Economists Warn
Exec Says Toyota Expects U.S. Share to Recover to 15% in 2013
Ford Sees Margins Shrinking as Buyers Shift to Small Cars
Jaguar Land Rover Global Sales Rise 7% in October
GM Goal: Build 500K Electrics Annually by '17
Make Collision Avoidance Technologies Standard, N.T.S.B. Urges
Chrysler Joins Toyota in Opposing Mexico's First Fuel Economy, Emissions Rule
Toyota Sends Venzas to South Korea, Boosting U.S. Exports
Volt Batteries Could Light Homes During Power Failures
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Consumer Demand for New Vehicles Continues to Grow

Though Hurricane Sandy has reduced the expected SAAR for new-vehicle sales, according to NADA Used Car Guide's latest Guidelines report, consumer demand for new rides continued to grow last month. In fact, total light vehicles sales in October increased by 7 percent on an annual basis to reach 1.09 million units. “This brought the year-to-date sales total to 11.9 million units, which is an increase of 14 percent over last year's sum of 10.5 million units,” officials said. On the other hand, October's SAAR fell to 14.2 million units from 14.9 millions in September, due to the impact of Hurricane Sandy.
Source: Auto Remarketing

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Relaxed Lending, Wider Credit Can Propel U.S. Car Sales Only So Far, Economists Warn

A rebound in U.S. auto sales has been buoyed by the return of easy lending, even to borrowers with flawed credit histories. Some economists question whether the gains can be sustained without a boost in hiring. U.S. light vehicle sales have advanced 14 percent this year through October and the rise has helped drive finance and insurance revenue higher at dealerships. Auto loans were up 5.5 percent in the second quarter from the same time last year, with riskier buyers accounting for 43.9 percent of the total, up from 42 percent in 2008, according to Experian Plc. "There's no question that credit is readily available at great rates," said Bill Fox, a partner in Fox Dealerships in Auburn, New York, which has four lots close to Syracuse and a fifth in Painted Post near Corning. "It's certainly different than it was a few years ago. It's uniformly a good time to be in the car business."
Source: Bloomberg

Editor's note: Bill Fox is chairman of NADA's Public Affairs Committee.

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Exec Says Toyota Expects U.S. Share to Recover to 15% in 2013

Toyota Motor Sales expects its U.S. market share to return to above 15 percent in 2013 when a string of redesigned vehicles arrives. Toyota is still recovering market share that fell during the inventory shortages after last year's earthquake and tsunami in Japan. Toyota became the No. 1 retail brand in the United States again in March.
Source: Automotive News

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Ford Sees Margins Shrinking as Buyers Shift to Small Cars

Ford Motor Co., the second-largest U.S. automaker, said its record profit margins are shrinking in North America as buyers downsize from trucks to small cars. “We continue to see consumers trading down to smaller vehicles,” Mark Fields, Ford’s president of the Americas, said [Wednesday] at the Barclays Capital 2012 Global Automotive Conference in New York. “Less trucks, more small cars and those vehicles have smaller margins.”
Source: Bloomberg

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Jaguar Land Rover Global Sales Rise 7% in October

Global sales of Jaguar Land Rover vehicles rose 7 percent in October, as deliveries at parent company Tata Motors rose 6 percent in the same period, the Indian company said. Tata said sales at the luxury British unit rose to 27,897 compared with the year before, after falling in September for the first time in 14 months. Jaguar sold 3,339 vehicles last month and Land Rover delivered 24,558, Tata said in a statement on Thursday.
Source: Automotive News

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GM Goal: Build 500K Electrics Annually by '17

Automaker plans to use plug-ins, pure electrics, hybrids to achieve target

General Motors Co. plans to build 500,000 vehicles a year by 2017 that would be powered in some way by electricity, the automaker's head of global product development said Wednesday. If GM meets that goal, it would account for about 5.5 percent of the automaker's total annual sales.
Source: The Detroit News

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Make Collision Avoidance Technologies Standard, N.T.S.B. Urges

When the National Transportation Safety Board announced its 2013 Most Wanted List on Wednesday at a news conference in Washington, it put motor vehicle collision avoidance technologies on that list. The list is meant to focus attention on serious transportation safety issues. The technologies that the N.T.S.B. mentioned consisted of forward collision warning, lane departure warning, adaptive cruise control, automatic braking and electronic stability control (on vehicles with a gross vehicle weight rating of 10,000 pounds or more). The technologies can help to improve driver reaction time in unexpected situations.
Source: The New York Times

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Chrysler Joins Toyota in Opposing Mexico's First Fuel Economy, Emissions Rule

Mexico's first fuel economy standard, nearly three years in the making, is in jeopardy because of opposition from Toyota Motor Corp., Chrysler Group and other automakers. Nom-163, patterned after the U.S. corporate average fuel economy standard, would raise Mexico's required fleet fuel economy average for new cars and light trucks to 35 mpg by 2016. It would also align Mexico's emission standard for new light vehicles with that of Canada, harmonizing fuel economy and environmental targets throughout North America.
Source: Automotive News

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Toyota Sends Venzas to South Korea, Boosting U.S. Exports

Toyota Motor Corp. is making good on a plan to boost U.S. exports by shipping Kentucky-built Venzas to South Korea, helping Asia's largest carmaker maximize use of factories in North America and blunt the yen's impact. The company's plant in Georgetown, Kentucky, is producing a version of the midsize wagon for South Korea, where it already sends U.S.-produced Camry sedans and Sienna minivans, Toyota said [Tuesday] in a statement. Toyota expects exports of U.S.- built vehicles to reach a record, increasing 52 percent this year to more than 130,000 cars and trucks, the company said.
Source: Bloomberg

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Volt Batteries Could Light Homes During Power Failures

General Motors Co. and ABB Group on Wednesday showed off a second use for old electric-vehicle batteries: Using them as a way to store electricity that can then light homes in the event of a power failure.
Source: The Detroit News

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Quotable
"With new products coming, our volume will go up, our share will go up."

   
--  Bob Carter, senior vice president of automotive operations for Toyota, commenting on the automaker's quicker than expected recovery, Automotive News, Nov. 14

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