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Inside this issue
Chrysler Reports $1.7 Billion Net Profit For 2012
Ford Cites Profits of $5.67B in '12
FTC Warns Dealers On Buyer's Guide
Watchdog Questions Treasury's Exit Plan For Ally Financial
Maximize Your NADA Convention Experience by Attending the New Orientation Session
New-Vehicle Shoppers Look at More Models Before Buying, Study Says
Volkswagen Super Bowl Ad Accused of Being Racist
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Chrysler Reports $1.7 Billion Net Profit For 2012

Chrysler Group LLC reported a net profit of almost $1.7 billion for 2012 Wednesday and fourth-quarter earnings of $378 million. That was an eightfold improvement over the $183 million the company earned in 2011 and offered further proof of the automaker's turnaround.
Source: The Detroit News

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Ford Cites Profits of $5.67B in '12

Firm expects gains in N. America light truck, car market, but earnings boost unlikely in '13

Ford Motor Co. expects to grab a greater share of the 2013 North American car and light truck market — and increase its revenue — but profits here and abroad likely will remain unchanged from 2012. Ford earned $5.67 billion worldwide last year, the company said Tuesday. That's a 5 percent decline from 2011, excluding a tax gain from that year. The automaker's 2012 earnings were bolstered by its performance in North America, where it made $8.3 billion, but hampered by European operations, which lost $1.75 billion. Ford expects more of the same in 2013, forecasting global operating profits to be "about equal" to 2012 — an underwhelming outlook, analysts said.
Source: The Detroit News

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FTC Warns Dealers On Buyer's Guide

The Federal Trade Commission has warned 11 used car dealerships in Jonesboro, Ark., that their failure to properly display the "Buyers Guide" on used vehicles offered for sale violates the FTC's Used Car Rule. FTC staff inspections in Jonesboro found that eight dealers failed to display Buyers Guides on almost all used cars offered for sale, and three dealers failed to display the guides on a significant number of used cars. Ten dealers properly displayed the guides on all or nearly all of the used cars offered for sale. The FTC sent warning letters urging the 11 dealers to come into compliance by properly displaying the guides in a clear and conspicuous location on all used cars.
Source: NADA Legal and Regulatory Affairs

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Watchdog Questions Treasury's Exit Plan For Ally Financial

In the four years since the federal government pumped billions into the nation's financial firms to stave off economic collapse, virtually all of the biggest companies have repaid their debts. But Ally Financial, once one of the largest auto lenders in the country, still owes the government $11.4 billion. Now a government watchdog is pressing the Treasury Department to develop a plan for Ally to repay taxpayers, who own 74 percent of the company. In a report to Congress being issued Wednesday, the special inspector general for the Troubled Assets Relief Program criticizes Treasury for being slow to get Ally into line.
Source: The Washington Post

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Maximize Your NADA Convention Experience by Attending the New Orientation Session

Advance registration, which includes a $75 discount, ends Thursday, Jan. 31

Dealers and their managers who arrive in Orlando early are encouraged to attend, Meet NADA: Not Your Daddy's Orientation, a new session held from 10:30 a.m. to noon on Friday, Feb. 8. The session, held in Room W103, will inform attendees how to maximize their convention experience by using new convention mobile app to schedule events and network. The session, presented by Midori Connolly and Jessica Levin from Seven Degrees Communications and Melissa Wolpert and Connie Mikels from the NADA convention, will provide attendees with a tutorial about everything happening at the convention, from the franchise meetings, workshops, expo floor, Social Connection Zone to the Lifestyle venues. “Convention attendees are often too busy before they arrive at a meeting to do any planning in a meaningful way, says Levin, company president. “We are encouraging attendees to spend a few minutes setting personal goals for the convention and be accountable to themselves.”

Dealers and their managers who register for the NADA convention before Thursday, Jan. 31 will save $75 from the onsite registration rate. The housing deadline for NADA's block of hotel rooms also ends Jan. 31. The NADA convention runs Feb. 8-11 in the West Building of the Orange County Convention Center. To register, visit www.nadaconventionandexpo.org.
Source: NADAFrontPage.com

Editor's note: To download the app for iPhone, iPod Touch, iPad and Android phones, visit the App Store or Google Play on your phone and search for "NADA 2013." Click the app icon to begin the download. For all other phone types, including BlackBerry and all other web browser-enabled phones, visit www.chirpE.com/NADA2013.

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New-Vehicle Shoppers Look at More Models Before Buying, Study Says

New-vehicle shoppers are considering more models before buying, and fuel economy remains the most influential factor in a purchase decision, according to a J.D. Power and Associates study. New-vehicle shoppers consider an average of 3.3 vehicles, J.D. Power's 2013 Avoider Study says, up from 3.1 in last year's study and 2.9 in 2010. The study, released this month, examines why consumers do not consider -- or avoid -- certain models when shopping for new vehicles.
Source: Automotive News

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Volkswagen Super Bowl Ad Accused of Being Racist

Yah, mon. Da white bloke, he talk like dis. So, mon: Is it racist for him to speak dat way? Volkswagen of America certainly didn't think so when it created a one-minute commercial for Sunday’s Super Bowl. The commercial features a tall, white fellow — identified in the ad as a Minnesotan, to further emphasize the contrast — speaking like a no-worries Jamaican to cheer up his glum office mates. “You know what dis room needs? A smile,” the pasty fellow tells his colleagues during a dreary meeting. “Who wanna come wit I?” The conceit is supposed to tie in with Volkswagen's new ad slogan, “Get in. Get Happy,” and the general notion that driving a VW can turn a crummy day into a sunny day. Except some people think the cross-national (and potentially cross-racial) portrayal sounds a little racist. For the record, VW, whose U.S. headquarters are in Herndon, says critics have it all wrong. “If you look at the whole intent of the commercial for us, it's about making people happy,” said Scott Vazin, a VW spokesman. “The idea is to put a smile on your face. It's simple and human and humorous.” Perhaps, he said, “some people are over-thinking this one.”
Source: The Washington Post

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Quotable
"This is a remarkable accomplishment, and a tribute to the courage, passion and commitment you have showed to restore Chrysler to being a competitive force."

   
-- Chrysler CEO, Sergio Marchionne, in a message to employees about the automaker's $1.7 billion net profit for 2012, The Detroit News, Jan. 30
 


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