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Inside this issue
A December U.S. Sales Blast Might Be Right Idea
Production Will Flatten in First Quarter -- But Don't Panic
Ford Finds Software Fix for Engine Fire Problems
Medicare Tax Increase Begins January 1, 2013
Jaguar Land Rover Considers $1.2 Billion Factory in Saudi Arabia
Ally Lends Holiday Helping Hand to Oklahoma Military Families
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
A December U.S. Sales Blast Might Be Right Idea

News last week that General Motors increased incentives on some vehicles could be the start of something bigger for December, and as much as auto makers acknowledge that subsidizing sales can lead to disaster, an end-of-year blowout might be good right now. Interestingly, a little boost of sorts might assure December runs at a 15.3 to 15.4 million seasonally adjusted annual rate -- not even November's 15.5 million – to push 2012's total to 14.5 million (rounded up from 14.45 million, if you will). That's above the consensus of 14.3 to 14.4 million, and results above “expectations” usually are the type of confidence builder that could create good karma heading into 2013.
Source: WardsAuto

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Production Will Flatten in First Quarter -- But Don't Panic

North American production is expected to decline 1.4 percent from 2012 levels to 3.9 million light vehicles in the first three months of 2013, but that's not a sign the economic recovery is endangered. LMC Automotive, a suburban Detroit research firm, is forecasting a slight drop in production from the year-ago period, when Japanese automakers were replenishing inventories after the March 2011 tsunami. Meanwhile, other automakers are cutting first-quarter production as they retool for new models.
Source: Automotive News

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Ford Finds Software Fix for Engine Fire Problems

Ten days after announcing the recall of nearly 90,000 Escape crossovers and Fusion sedans, Ford has announced it has come up with a fix to prevent potential engine fires in those vehicles equipped with the maker's popular 1.6-liter EcoBoost engine. The fix comes in the form of a software update that will better manage engine operations during what Ford described as “a unique overheating condition that could occur under unique operating conditions.”
Source: MSNBC

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Medicare Tax Increase Begins January 1, 2013

The Additional Medicare Tax required by the healthcare reform law (Affordable Care Act) goes into effect January 1, 2013. The tax applies to individuals' wages, other compensation and self-employment income over certain thresholds. Dealers and other employers are responsible for withholding the tax on wages and other compensation in certain circumstances. Click here to view a series of FAQ's on the new tax posted by the IRS. The IRS recently proposed regulations that provide guidance to employers and individuals on the implementation of the Additional Medicare Tax. The proposed regulations provide rules for the withholding, computation, reporting, and payment of the additional Medicare tax on wages, self-employment income, and Railroad Retirement Tax Act compensation. The proposed regulations can be found here.
Source: NADA Regulatory Affairs

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Jaguar Land Rover Considers $1.2 Billion Factory in Saudi Arabia

Jaguar Land Rover today signed a letter of intent with Saudi Arabia's government to study the feasibility of setting up a factory to build its models locally. The factory would build 50,000 Land Rovers a year in the kingdom, using locally produced aluminum and steel, the country's commerce and industry ministry said. The initial investment of 4.5 billion riyals ($1.2 billion) may later be extended to build Jaguar models, said a press release distributed at the signing ceremony in the Saudi capital. Jaguar Land Rover said discussions with the Saudi government are at a preliminary stage.
Source: Automotive News

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Ally Lends Holiday Helping Hand to Oklahoma Military Families

Ally Financial is working with an Oklahoma City dealership group and regional chapter of the Operation Homefront non-profit to spread some holiday cheer and honor local military families. Ally, Hudiburg Auto Group and Operation Homefront will team up for an event where the children of active duty and National Guard military personnel in the state will receive bicycles as holiday gifts.
Source: Auto Remarketing

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Quotable
"At Hudiburg Auto Group, it's important to us to give back to our fellow Oklahomans, especially the military families who give up so much for us." 

   
--  David Hudiburg, president of Hudiburg Auto Group in Oklahoma City, commenting on the partnership with Operation Homefront and Ally to provide holiday gifts to local military families, Auto Remarketing, Dec. 10



 


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