View Mobile Version | View Web Version

SPONSORED BY
NADA.org
May 24, 2013 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
nada.orgAdvocacyAffiliates | Convention | Jobs | Programs | Publications | Services | Training
Inside this issue
N.H. House Passes Auto Dealer 'Bill of Rights'
Foreign Automakers Say Summer Car-Selling Season Will 'Be Bloody'
Chrysler Works to Rectify Launch Delays, Meet Growing Demand
GM prices Chevy Spark EV below $20,000 After Tax Credits
Mitsubishi Motors Plans to Reduce Capital to Offset Losses
Dodge Banks on Fast & Furious 6 Tie-In to Rev Up Dart Sales
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
N.H. House Passes Auto Dealer 'Bill of Rights'

By an overwhelming majority, members of the New Hampshire House gave their support Wednesday to a bill that would revamp the laws governing the relationship between car makers and car dealers in the state. The bill revises portions of the state's franchise laws, known as the auto dealers "Bill of Rights." Among other things, it would prevent automakers from forcing dealers to upgrade facilities more frequently than once every 15 years. It would also allow dealers to buy local goods and ensure they are reimbursed at the market rate for parts used in warranty work. The bill passed the Senate on a 21-2 vote earlier this year. A similar version, with numerous amendments, passed the House on a 338-30 vote Wednesday morning. “We're definitely supportive of the bill as it's amended," said Peter McNamara, a spokesman for the New Hampshire Automobile Dealers Association. The Senate must now decide whether to concur with the changes or hash out a compromise version to send to Gov. Maggie Hassan's desk for her signature.
Source: Fosters.com (Concord, N.H.)
Share: LinkedIn Twitter Facebook

[back to top]

Foreign Automakers Say Summer Car-Selling Season Will 'Be Bloody'

Several large foreign automakers said they expect U.S. auto sales in 2013 will top 15.1 million vehicles, but one warned the summer buying season may be “bloody” as brands fight for sales and hit the gas on incentives. Hyundai Motor America's executive vice president of sales Dave Zuchowski says he expects sales will end at 15.1 million to 15.2 million. “Profitability from the dealer perspective, from the (automaker) perspective, from the supplier perspective may be squeezed just because of this intensified level of competition,” Zuchowski said at a panel discussion of the American International Automobile Dealers Association meeting on Wednesday ahead of a lobbying day by dealers on Capitol Hill. U.S. auto sales were up 13 percent to 14.5 million in 2012, a five-year-high. Auto sales are up 6.9 percent in the first four months of the year, including 8.5 percent in May.
Source: The Detroit News
Share: LinkedIn Twitter Facebook

[back to top]

Chrysler Works to Rectify Launch Delays, Meet Growing Demand

Automaker aims to improve quality with greenest workforce in industry

Chrysler Group LLC says glitches with the software that runs its cars and trucks caused the recent production delays that undercut the company's profits, and the automaker says it is taking extraordinary steps to improve quality and ensure that its vehicles arrive problem-free. And Chrysler is doing it even as it struggles to keep up with growing demand, train novice workers and roll out the latest technology. A growing number of onboard computer systems control everything from engines to entertainment systems in today's cars and trucks, and all automakers are running into problems as they work to integrate the latest technology into their vehicles. For example, software issues recently forced Ford Motor Co. to recall vehicles equipped with its new 1.6-liter EcoBoost motor. But Chrysler also is trying to outrun its own history. The Auburn Hills automaker is fighting to overcome a reputation for poor quality that was decades in the making, and it is doing it with the greenest workforce in the American automobile industry. More careful inspections and more stringent standards are adding to the manufacturing delays, so that flawed cars and trucks are fixed at the plants, and do not make it to dealer showrooms or customer garages.
Source: The Detroit News
Share: LinkedIn Twitter Facebook

[back to top]

GM prices Chevy Spark EV below $20,000 After Tax Credits

$199-per-month lease to draw urban buyers

General Motors will price its new Chevrolet Spark electric vehicle at $27,495, including destination charges and before federal tax credits, placing it among the cheapest EVs on the market. GM said that it kept the sticker price at less than $20,000 after a $7,500 federal tax credit is applied. It also is offering a $199 per month, 36-month lease with $999 down, matching the lease deal of the rival Fiat 500e. The Spark EV will go on sale in some markets in California and Oregon by mid-June, GM said. Other EVs include the larger Nissan Leaf ($29,650), Fiat 500e ($33,200) and Mitsubishi i-MiEV ($29,975). All prices include destination charges. California buyers can qualify for additional state and local tax credits and incentives of up to $2,500, GM said. The Spark EV will get the equivalent of 119 mpg in combined city and highway driving and a range of 82 miles.
Source: Automotive News
Share: LinkedIn Twitter Facebook

[back to top]

Mitsubishi Motors Plans to Reduce Capital to Offset Losses

Mitsubishi Motors Corp. plans to reorganize its capital to help unload the worst accumulated losses in the automotive industry. The carmaker will decrease its capital by 75 percent to 165.7 billion yen ($1.6 billion) and cancel all of its 433.2 billion yen in capital reserves, it said in a statement. The Tokyo-based company also plans to ease restrictions on its ability to issue shares, among proposals subject to approval from shareholders at next month's annual general meeting. The move is designed to help Mitsubishi Motors, which stopped paying dividends in 1998, shore up its balance sheet and resume returning cash to shareholders. The company has been seeking to restore confidence in its cars for more than a decade after saying it covered up safety defects and customer complaints, alienating consumers to the point that it required a 540 billion yen bailout in 2005.
Source: Bloomberg
Share: LinkedIn Twitter Facebook

[back to top]

Dodge Banks on Fast & Furious 6 Tie-In to Rev Up Dart Sales

Can the coattails of Fast & Furious 6 and its young, devoted male fans give a boost to Dodge Dart sales? Chrysler Group is counting on it. The Dart doesn't have a role in the action-thriller opening nationwide on Friday, but Dodge is betting a Fast & Furious-like commercial and other marketing ties with the movie will raise awareness for the compact car.
Source: Automotive News
Share: LinkedIn Twitter Facebook

[back to top]

More Articles
 
Quotable
"Summer's going to be bloody. Everybody's got inventory... I think it's going to be very, very competitive." 

   
-- Hyundai Motor America's executive vice president of sales Dave Zuchowski, predicting an increase in competition between automakers this summer, The Detroit News, May 24
Chairman's Column
CFPB Guidance Lacks Transparency and Research
Videos

Video: NADA Analyst Jonathan Banks Predicts Strong Auto Sales in 2013 (NADA-TV)


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

More Videos

NADA University
MarketINSIGHT Webinars

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

- May 29: Create a Task-Based Accounting Office

- June 5: DMS Access: Practical and Regulatory Concerns

- June 12: Boost Revenues, Increase Car Counts at No Cost

For more information about the webinars, click here.
NADA Foundation News
NADA Foundation Ambassador Tarik Daoud Provides Scholarships to Detroit-Area Students

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 .