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Inside this issue
'Fiscal Cliff' Poses Auto Sales Perils
Toyota Settles Acceleration Claims for Over $1 Billion
Class-Action Lawsuit Disputes Ford on C-Max, Fusion Hybrid Mileage Claims
Audi Budgets $17 Billion for Cars, Factories to Catch BMW
Fiat, Chrysler Look to Overcome Powertrain Hurdles
New-Car Dealers Breathe Life into NADA Foundation's CPR Manikin Donation Program
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
'Fiscal Cliff' Poses Auto Sales Perils

The American automobile industry is poised to finish 2012 on a strong note, but experts say a failure to resolve the "fiscal cliff" impasse in Washington could mean a rocky start to 2013. If lawmakers fail to reach an agreement to avert the automatic tax increases and spending cuts scheduled to go into effect on Jan. 1, consumers will likely rethink their automotive purchases, according to a recent Swaplease.com survey. The auto leasing company asked 2,500 drivers from across the country how going off the fiscal cliff would affect their car-related spending.
Source: The Detroit News

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Toyota Settles Acceleration Claims for Over $1 Billion

Toyota Motor Corp., Asia’s biggest automaker, will take a $1.1 billion charge to settle U.S. consumer claims that the value of their vehicles diminished because of recalls related to unintended acceleration. The settlement, pending approval from a judge in federal court in Santa Ana, Calif., will cover costs such as cash payments to customers, Toyota said in a statement yesterday. The deal is valued at $1.2 billion to $1.4 billion, a record in the U.S. in terms of financial scale and number of vehicles, according to Seattle-based law firm Hagens Berman, which represented plaintiffs
Source: Bloomberg

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Class-Action Lawsuit Disputes Ford on C-Max, Fusion Hybrid Mileage Claims

A California-based law firm has filed a class-action lawsuit against Ford Motor Co., alleging the company has led a "false and misleading" marketing campaign for its 2013 C-Max and Fusion hybrid vehicles. Law firm McCuneWright alleges fraud and negligent misrepresentation, among others, by Ford, in U.S. District Court in the Eastern District of California. The suit seeks punitive damages, including reimbursement for the purchase price of Ford's new hybrid vehicles.
Source: The Detroit News

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Audi Budgets $17 Billion for Cars, Factories to Catch BMW

Audi, the world’s second-largest maker of luxury vehicles, plans to spend $17 billion through 2016 to develop new cars and expand production capacity as it pursues BMW’s lead. “We will keep investing large sums to pursue our growth strategy,” Chief Financial Officer Axel Strotbek said in the statement. “The expansion of our global manufacturing infrastructure will help us to continue growing.” Audi aims to sell at least 2 million cars a year and overtake BMW by the end of the decade. The brand’s expansion is part of Volkswagen’s goal to become the world’s largest automaker by 2018.
Source: Bloomberg

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Fiat, Chrysler Look to Overcome Powertrain Hurdles

The Chrysler-Fiat partnership looks to overcome hurdles in worldwide fuel-economy standards and diverse driving habits to develop a common global powertrain strategy that will work equally well for both companies in all markets. “The challenge is to have brand differentiation at the powertrain level, without excessive part proliferation,” Chris Cowland, director-advanced and SRT powertrain at Chrysler, says at a recent conference....
Source: WardsAuto

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New-Car Dealers Breathe Life into NADA Foundation's CPR Manikin Donation Program

For more than 35 years, new-car and -truck dealers have donated Little Annie cardiopulmonary resuscitation (CPR) training manikins to hospitals, police and fire departments and schools across the country from the Medical Grants program of the National Automobile Dealers Charitable Foundation. In 2012 alone, the Ohio Automobile Dealers Association has facilitated 18 CPR donations in the state. In December 2012, OADA-member Yark Automotive Group in Toledo, Ohio, presented CPR training units to the St. Francis School System prior to the tip off of a high school basketball rivalry game between Toledo Whitmer vs. Toledo St. Francis. “We’re proud to be able to give back to the community in a variety of ways, and knowing that we can save lives by providing this equipment to help people learn CPR is truly exceptional,” said John Yark, president of Yark Automotive Group.

Richard Stephens, a board member of the National Automobile Dealers Association, has presented 12 CPR training units to 12 different organizations this year in his rural home state of West Virginia. “The program, which will likely lead to saving lives, is a great resource that NADA makes available through its charitable foundation,” said Stephens, owner of Stephens Auto Center in Danville, W.Va.
Source: NADAFrontPage.com

Editor's note: For more information about the NADA Foundation's CPR program, contact Naxhieli Acosta at
nacosta@nada.org or call toll free (800) 248-6232, Ext. 7233 or direct (703) 821-7233.

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Quotable
"Over the years, the success of the NADA Foundation's CPR manikin donation program has hinged on the tremendous support of executives from state and metro dealer associations who have worked with local dealers to identify community agencies and organizations in need of new CPR training units."

   
-- Bob Mallon, chairman of the NADA Foundation, NADAFrontPage.com, Dec. 27



 


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