View Mobile Version

NADA.org
April 25, 2013 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
nada.orgAdvocacyAffiliates | Convention | Jobs | Programs | Publications | Services | Training
Inside this issue
Chevy Spark EV Rated at 119 MPG with 82-Mile Range
How to Charge Millions of Electric Cars? Not All at Once
Mazda's Bet on Gas-Saving Tech Pays Off
Fisker, Energy Department Blasted Over Loan to Struggling Firm
VW Says 2013 Will Be Tough, Eyes H2 Upturn
Ford's Farley Eyes April Lincoln Sales Rebound
Hyundai Motor Profit Beats Analysts' Estimates; Shares Gain
Carfax Hit With $50 Million Antitrust Lawsuit By 120 Dealerships
Colorado Program Gets Dirty Autos Off the Road, Funds Scholarships
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Chevy Spark EV Rated at 119 MPG with 82-Mile Range

General Motors says its Chevrolet Spark EV will get the equivalent of 119 mpg in combined city and highway driving, the best efficiency of any U.S. car sold to retail buyers. The 2014 Spark EV, which will be launched this summer in California and Oregon, will have an EPA-rated range of 82 miles when fully charged, GM said in a statement. Other EVs sold or slated for introduction in the United States include the Nissan Leaf, Fiat 500e, Mitsubishi i-MiEV, Scion iQ EV, Honda Fit EV and the Focus Electric.
Source: Automotive News

Related Stories:

[back to top]

How to Charge Millions of Electric Cars? Not All at Once

Proponents of electric vehicles like to talk about a not-too-distant future when plug-in cars become ubiquitous, with millions being driven by their owners on the daily commute. Now imagine the end of a workday in that not-too-distant future, when many of those millions of cars are back in their owners' driveways or garages, plugged in for battery recharging, all at roughly the same time. The effect of such a power drain on the electrical grid could be enormous; the overloading of transformers and other infrastructure could lead to local brownouts or worse. So researchers at utility companies and other electrical engineers are looking for ways to soften the blow, designing charging systems that can adapt quickly to changing grid conditions.
Source: The New York Times

[back to top]

Mazda's Bet on Gas-Saving Tech Pays Off

For the first time in five years Mazda Motor Co. is expected to announce that it didn't lose money in the just-ended fiscal year. Indeed, it estimates an annual net profit of ¥26 billion ($261 million). Analysts estimate it will be higher. While the weakening yen will certainly be a boon to Japan's most export-reliant carmaker, executives say the profit is a sign that they were right to make a tricky gamble—back in 2006—on developing improved gasoline and diesel engines, rather than pump money into the hip R&D of the time: hybrid engines.
Source: The Wall Street Journal

[back to top]

Fisker, Energy Department Blasted Over Loan to Struggling Firm

Struggling Fisker Automotive took a bludgeoning [yesterday] on Capitol Hill from top congressional Republicans who compared Fisker to failed automotive startups of the past and lambasted the Department of Energy for allowing the electric car producer to draw down nearly $200 million in taxpayer-funded loans. House Oversight Chairman Darrell Issa, R-Calif., told Fisker founder Henrik Fisker that he will be remembered fondly for his design work for BMW and Aston Martin. But he compared Fisker to Malcolm Bricklin, John DeLorean and Preston Tucker -- three entrepreneurs known for their failed startup car companies. "Quite frankly, innovative cars have a history of failing," Issa said. At a hearing to investigate the company's $529 million loan from the Department of Energy, Rep. Jim Jordan, R-Ohio, said Fisker should never have received taxpayer money.
Source: Automotive News

Related Stories:

[back to top]

VW Says 2013 Will Be Tough, Eyes H2 Upturn

Automaker plans additional 1,500 dealerships in emerging markets

Volkswagen Group says it is bracing for a tough year ahead, though the automaker believes business may improve in the second half as overseas markets keep growing. "The coming months will be anything but easy," CEO Martin Winterkorn said at VW's annual shareholders' meeting. Except for North America and China, all regions were marked "by often significant uncertainty," he said, adding that core European markets would remain "extremely weak" for the foreseeable future. Europe's No. 1 automaker expects to "pick up speed" over the remainder of 2013 and will stick with full-year targets "despite all economic uncertainties," Winterkorn said. On Wednesday, VW reported a 26 percent drop in first-quarter operating profit to 2.34 billion euros ($3.04 billion), though it stood by goals to match last year's record earnings of 11.5 billion euros and to push sales and deliveries to new records.
Source: Automotive News

[back to top]

Ford's Farley Eyes April Lincoln Sales Rebound

The story of Lincoln Motor Co.'s restart has been nothing short of a nightmare. A botched launch, inconsistent reviews and rock-bottom sales figures have Lincoln looking up at the competition in almost every segment, but Jim Farley sees a light at the end of the tunnel. "We should have a really great story to tell at the end of the month," said Farley, Ford Motor Co.'s executive vice president of global marketing, sales and service and Lincoln, in a conference call with analysts and reporters on Wednesday. "I think you'll see in our sales results that the product is being very well-received." Automakers report April sales figures May 1. Sales of the MKZ have fallen nearly 50 percent this year and Lincoln sales are down nearly 24 percent through March. Farley said Wednesday that inventories of Lincoln's new MKZ midsize sedan have reached "normal levels" during the past couple of weeks, and added that sales of the MKZ hybrid have outpaced Ford expectations.
Source: The Detroit News

Related Stories:

[back to top]

Hyundai Motor Profit Beats Analysts' Estimates; Shares Gain

Hyundai Motor Co., South Korea's largest carmaker, reported first-quarter profit that exceeded analysts' estimates, driven by record sales in China. The shares rose the most in a year. Net income fell 15 percent to 2.09 trillion won ($1.9 billion), compared with 2.45 trillion won a year earlier, the Seoul-based company said in a statement. Profit beat the 1.99 trillion won average of 18 analyst estimates compiled by Bloomberg for 28 days. Sales increased 6 percent.
Source: Bloomberg

[back to top]

Carfax Hit With $50 Million Antitrust Lawsuit By 120 Dealerships

The owners of 120 auto dealerships have filed a federal lawsuit against Carfax Inc., alleging that the vehicle history reporting company engages in anti-competitive practices and violates antitrust laws. The suit, filed Tuesday in U.S. District Court for the Southern District of New York, seeks damages of more than $50 million. It also alleges that Carfax, through exclusive agreements with auto companies and popular classified auto Web sites, is "monopolist in the sale of vehicle history reports."
Source: Automotive News

[back to top]

Colorado Program Gets Dirty Autos Off the Road, Funds Scholarships

Car dealer Don Hicks calls up a mental image, and it's not pretty. "You're at a stoplight, and you're behind a 1978 Oldsmobile Cutlass with 225,000 miles on it," he says. "When the light turns green, you have to wait a few seconds to be able to see through the exhaust." That hold-your-breath scenario has made Hicks and his Shortline dealerships one of the leading crusaders against high-polluting heaps. When vehicles of that ilk get traded in at Shortline and other dealers, they make an express trip to the junkyard and car crusher — no interim stops as a bargain-basement used car. In rising numbers, dealers are contributing high-emitting vehicles to the Clear the Air Foundation. The program, sponsored by the Colorado Automobile Dealers Association, has doubled in size over the past year. Benefits accrue at several levels. Dealers get a tax deduction for donating the cars. Proceeds from selling the vehicles to salvage yards are funneled to an auto-industry scholarship fund. Most important, the worst of the bad polluters get taken off the road, permanently.

To date, the foundation has collected $168,000. In addition, the dealers association has agreed to contribute $1 million. Proceeds will fund a scholarship endowment for students enrolling in auto-industry training programs. Applications will be accepted later this year. "We're basically taking these vehicles' cash value and putting that into scholarships to train the next generation's workforce," said Tim Jackson, president of CADA. "And we are cleaning the air."
Source: The Denver Post

[back to top]

More Articles
 
Quotable
"Regardless of whether we're in an upturn or downturn, it's our goal to ensure that VW reaches the top of the automotive industry by 2018."

   
-- Volkswagen Group CEO Martin Winterkorn, commenting on the automaker's goal to reach the top of the industry by 2018, Automotive News, April 25
Videos

 Automotive Forum 2013: Industry Leaders Convene in NYC (NADA-TV)


 Relief Efforts Continue Months After Hurricane Sandy (NADA-TV) 

 More Videos

Chairman's Column
CFPB Issue, Support for Franchised Dealer Network among Topics Discussed at Auto Forum
NADA University
MarketINSIGHT Webinars

(All webinars begin at 1 p.m. ET. Click webinar title to register.)

- May 1: Prospect Your Way to Greatness

- May 8: Facilities Study Results You Need to Know

- May 15: Twenty-two Minutes to Driving Traffic!

- May 22: Multiply & Conquer With Multichannel Marketing

- May 29: Create a Task-Based Accounting Office
NADA Foundation News
Virginia Auto Dealer Honors Family and Employees through NADA Foundation
Search Back Issues | Unsubscribe | Subscribe | Manage your subscription | email us
NADA For more information on NADA, visit www.nada.org or contact NADA, 8400 Westpark Drive, McLean, VA 22102. This email may contain an advertisement of NADA products and services. Any opinions or statements contained herein do not necessarily reflect the views of NADA. Factual errors are the responsibility of the listed publication. If you are a franchised new-car or -truck dealer and would like to become a member of NADA, please visit the Join NADA section of www.nada.org. Questions or comments concerning NADA Headlines content may be directed to publicaffairs@nada.org .