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Inside this issue
US Auto Industry Exuberant Heading into 2013
Westward Expansion
Car Loans Are Cheap, But Shop Around
Lighter-Weight Steel Use Touted at Auto Show
Fiat, Mazda Sign Deal to Produce Alfa Romeo in Japan
Aston Martin Seeks Development Partner to Build High-End Engines
Owens Bill Becomes Law, Removes Small Mandate on Car Dealers
NADA 2013 Spotlight: Astronaut Mark Kelly to Deliver Inspirational Address
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
US Auto Industry Exuberant Heading into 2013

Maybe it was the brand new, bright red Chevrolet Corvette gleaming in one corner, or the elegant BMW coupe in the other. Maybe it was just the free-flowing espresso at nearly every stand. But car companies were positively giddy this week as the North American International Auto Show opened in Detroit. They have reason to be. U.S. new car and truck sales reached a five-year high of 14.5 million in 2012, and many executives and analysts think they'll climb to 15.5 million this year. Credit is easier to obtain, interest rates are low and many people who held on to old cars during the recession are ready to buy.
Source: The Associated Press

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Westward Expansion

The auto industry stands poised to sustain its recovery in 2013, with California leading the campaign to emerge from hard-hitting economic and natural disasters that have challenged auto dealers nationwide. A November report from J.D. Power and Associates noted that, in 2010, the state accounted for 10 percent of all national retail sales. By late 2012, California dealers caught up to their population, making up 12 percent of national retail sales. The NADA's [Chief Economist Paul] Taylor also has been monitoring the real estate market state-by-state since the recession took hold in late 2007. His annual forecasts always include a note about the strong link between car sales and the performance of home prices. And in the third quarter, prices in California increased 7.2 percent from a year ago for homes under $1 million, he shares. “Home equity is the nest egg of the typical middle-class household,” Taylor explains. “It's very important for the state of California that housing prices are on the way back up.”
Source: F&I and Showroom

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Car Loans Are Cheap, But Shop Around

It's hard to beat the thrill of jumping behind the wheel of a new car at the North American International Auto Show, especially if your clunker is already 9 or 10 years old. But how exciting is a car loan? Just itching for another monthly payment? Yeah, right. The hot news about car loans this year, though, is that rates are lower than last year — so shopping around for car loan could prove invigorating when you snag a real deal. "We've never seen rates this low" in the surveys of banks and credit unions, said Greg McBride, senior financial analyst at Bankrate.com.
Source: USA Today

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Lighter-Weight Steel Use Touted at Auto Show

The benefits of improving fuel economy through the use of lighter-weight steel and other materials is often overshadowed by the buzz surrounding electric and hybrid cars. But the benefits of lighter-weight, high-strength steel are on full display at the 2013 North American International Auto Show. "We have the technology to support the automotive manufacturers, and we have the manufacturing capacity to do it," said Christopher Kristock, vice president of quality and product development for Severstal North America.
Source: Detroit Free Press

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Fiat, Mazda Sign Deal to Produce Alfa Romeo in Japan

Fiat said it has signed a final agreement with Mazda that calls for the Japanese automaker to begin producing a two-seat sports car for the Alfa Romeo brand and a Mazda sports car in 2015. Both roadsters will be built at Mazda's plant in Hiroshima, Japan. Chrysler majority-owner Fiat said the new Alfa Romeo roadster will be developed for sale globally and will be based on the architecture of the next generation Mazda MX-5.
Source: Detroit Free Press

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Aston Martin Seeks Development Partner to Build High-End Engines

Aston Martin, the British maker of sports cars featured in James Bond movies, is in talks with potential partners to jointly develop high-end engines and electronic parts to strengthen its sports-car lineup. Aston Martin is holding discussions with Daimler AG and other manufacturers, and aims to reach an agreement within the next two months, Investindustrial Chairman Andrea Bonomi, whose company recently bought a stake in the British manufacturer, told reporters in Milan.
Source: Bloomberg

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Owens Bill Becomes Law, Removes Small Mandate on Car Dealers

A new law that was introduced by Rep. William L. Owens, D-N.Y., and takes effect this week removes a federal mandate requiring car dealers to make available a booklet on motor vehicle insurance costs. The law swept away regulations compelling the National Highway Traffic Safety Administration to print an annual booklet titled “Relative Collision Insurance Cost Information." The NHTSA previously had to send an updated version of the book every year to auto dealers across the nation, who likewise were required to make it available to customers or face fines of $1,000 per violation. Mr. Owens said the book contained information “that's not really relevant” to car buyers. Car dealers agree.
Source: Watertown Daily Times (Watertown, N.Y.)

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NADA 2013 Spotlight: Astronaut Mark Kelly to Deliver Inspirational Address


Advance registration for the NADA convention which includes a discounted rate ends Jan. 31

Inspirational speaker Mark Kelly, a retired combat pilot, astronaut and best-selling author, will address the nation's new-car and -truck dealers next month in Orlando. In January 2011, Kelly received international attention after an assassination attempt on his wife, former U.S. Rep. Gabby Giffords. In a best-selling memoir, Gabby: A Story of Courage and Hope, they share their story of hope and resilience. Kelly is scheduled to speak at 9 a.m. on Sunday, Feb. 10, during the 96th annual NADA Convention and Expo. Following his remarks, he will autograph books in the NADA Pavilion (Booth No. 1801) from 10:40 a.m. to 1 p.m. The first 100 people in line will receive a free copy of the memoir, which will also be available for purchase along with his children's book, Mousetronaut. The NADA convention runs Feb. 8-11 at the Orange County Convention Center. Advance registration for dealers and managers ends Jan. 31, which is a $75 discount from the onsite registration rate. Discounted hotel rates end Jan. 31 as well. To register, visit www.nadaconventionandexpo.org.
Source: NADAFrontPage.com

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More Articles
 
Quotable
"This undertaking to bring Alfa back is a one-shot deal. We are not going to do this twice." 

   
-- Fiat and Chrysler CEO, Sergio Marchionne, commenting on the automaker's deal with Mazda to produce a two-seat sports car for the Alfa Romeo brand, Detroit Free Press, Jan. 18

 

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