View Mobile Version | View Web Version

NADA.org
June 12, 2013 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
nada.orgAdvocacyAffiliates | Convention | Jobs | Programs | Publications | Services | Training
Inside this issue
9 Questions for Tesla's Elon Musk
Affiliates of Electric Car Maker Coda File for Bankruptcy
The EV Taxation Debate Comes to Michigan
Learn How to Reduce Your Sales Force Turnover
Is Ford Losing Its Quality Edge?
GM Taps Manufacturing Exec to Reduce Bureaucracy
Driverless Cars Should Slow Down, Some Say
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
9 Questions for Tesla's Elon Musk

Tesla Motors, the California electric car maker, is enjoying an incredible run. In just the last month, it has reported its first-ever quarterly profit, paid off the $452 million balance of its federal alternative energy loan nine years early, and won an ecstatic review from Consumer Reports, which called the battery-powered Tesla Model S as good or better than any vehicle it has ever tested. Investors are ecstatic. They have pushed Tesla's stock up 180% this year. At about $90,000 apiece, Tesla's zero emission cars have become a symbol for those in the moneyed class who want to show a commitment to the environment. At the same time, billionaire CEO Elon Musk has emerged as the company's chief spokesman and cheerleader, encouraging optimistic sales projections and batting away doubters and naysayers who say the company's shares are overpriced and the cars are overrated. In recent weeks, he's battled both the New York Times and Barron's over what he perceived to be negative coverage about the company's prospects. Is Musk the next Henry Ford -- or Preston Tucker? [Tucker is a former automaker best known for the Tucker Sedan of 1948. He was forced to shut down production amidst a stock fraud scandal.] By getting Tesla into production with a saleable car designed from the ground up, he's already gone further in the auto business than many people expected, but Tesla's stratospheric rise has generated heated debate on websites like Seeking Alpha and Motley Fool as to whether it can continue to expand at its current rate. Click here to see nine questions for Tesla and Musk.
Source: Fortune
Share: LinkedIn Twitter Facebook

[back to top]

Affiliates of Electric Car Maker Coda File for Bankruptcy

Two affiliates of failed U.S. electric-car maker Coda Automotive filed for chapter 11 bankruptcy protection on Tuesday, according to court documents, in another sign of the challenges facing the "green" car industry. Lio Energy Systems Holdings, based in Delaware, and Hong Kong-based Miles Electric Vehicles Ltd are seeking to have their cases jointly administered with those of parent Coda Holdings and its affiliates, including Coda Automotive, which filed for bankruptcy on May 1. Consumers have been slow to gravitate to electric vehicles due to their high cost, lack of convenience and concerns about their driving range. Among the prominent "green" car makers that face an uncertain future is southern California-based Fisker Automotive Inc, which is seeking a buyer after hiring bankruptcy advisers. General Motors Co, Ford Motor Co, Nissan Motor Co and Honda Motor Co are among the global automakers that have invested heavily in electric vehicles, but sales have been slow.
Source: Reuters

Related Stories:


Share: LinkedIn Twitter Facebook

[back to top]

The EV Taxation Debate Comes to Michigan

Can a road tell the difference if an electric vehicle or a gas guzzler is driving over it? No, but lawmakers around the country tasked with coming up with a new revenue stream to pay for the upkeep of those roads sure can. And they are looking for the owners of those vehicles that guzzle so little gas to pay a little more. The debate is well under way in several states. Now Michigan, home to the U.S. auto industry, is considering such a move. Michigan Gov. Rick Snyder wants $1.2 billion more per year for transportation funding, and his plan would reconfigure the gas tax and increase registration fees. The House Transportation Committee met last week to debate the issue. Discussions included whether to create a new tax on electric and hybrid vehicles, the theory being that much of the money to maintain and fix the state's roads comes from taxes at the pump, and if certain vehicle owners have found a way to not show up at the pump as often, they still need to pay their fair share.
Source: Automotive News

Related Stories:


Share: LinkedIn Twitter Facebook

[back to top]

Learn How to Reduce Your Sales Force Turnover

Sign up for the NADA Workforce Study before June 30th

The 2013 NADA Dealership Workforce Study is the only study in the industry that compares a dealership's compensation and benefits, retention and turnover, work schedules and hours of operation to aggregated peer data. The results will allow participants to make data-based decisions when recruiting, hiring, motivating and retaining employees. According to the 2012 survey results, there is a 68 percent annualized turnover rate for dealership sales consultants, which is much higher than the national annual rate of 40 percent.  In addition to sales consultants, F&I managers and service advisors have a tendency to move on sooner than the typical five-year job tenure.

These are a dealership's key employees. How often do you have to recruit, hire and train for these top positions? How much is it costing you? Participating in the NADA Dealership Workforce Study will help you put an end to the vicious cycle and run a more profitable business with the right people in the right roles. Participants in the annual study will receive an individualized report comparing your compensation, benefits, retention and turnover to aggregated data from your peers. The survey is available until June 30 at www.nadaworkforcestudy.com.
Source: NADA University
Share: LinkedIn Twitter Facebook

[back to top]

Is Ford Losing Its Quality Edge?

Several high-profile glitches, some involving its turbocharged engines, raise questions

A spate of flubs by Ford Motor is raising doubt about whether quality still really is — as Ford's tagline used to boast — "Job One." Ford has won sales and accolades for making over most of its line in just a few years and for new, gas-saving engines, but a string of recalls for its best-selling and newest models has experts saying Ford may have tried too much. "They perhaps have more than they can chew," says Jake Fisher, director of auto testing for Consumer Reports magazine.
Source: USA Today
Share: LinkedIn Twitter Facebook

[back to top]

GM Taps Manufacturing Exec to Reduce Bureaucracy

General Motors has appointed Diana Tremblay, its top manufacturing executive in North America and a seasoned labor negotiator, to help tackle the company's notoriously thick bureaucracy. Tremblay, 53, today was named vice president of global business services, a newly formed unit that GM says will reduce complexity and save costs by streamlining back-office functions such as human resources and facilities management. Her reassignment comes as GM is executing one of its busiest-ever vehicle launch schedules in North America, including the rollout of its redesigned full-sized pickups, which began arriving in dealerships this month. GM says it will have replaced 70 percent of its U.S. lineup with new or significantly overhauled vehicles between late 2012 and mid-2014. GM spokeswoman Katie McBride said the company soon will name a replacement for Tremblay as vice president of manufacturing for North America.
Source: Automotive News
Share: LinkedIn Twitter Facebook

[back to top]

Driverless Cars Should Slow Down, Some Say

The road to automated driving may turn out to be a "near-term collision course," says Massachusetts Institute of Technology researcher Bryan Reimer. Reimer will be keynote speaker at an autonomous vehicle conference this week in Detroit and many there are expected to join him in echoing the go-slow mantra outlined in the National Highway Traffic Safety Administration's policy announcement on such vehicles two weeks ago. Reimer, who consults for clients including Toyota, says that one fatal crash involving a self-driving vehicle would become front-page news, "shut down the robotic industry" -- and lead automakers to a "major pullback in automatic safety systems" like collision avoidance technology going into conventional cars now. "Everybody is getting cautious except for one organization – Google - which thinks it's going to change the world" with its self driving car, says Reimer.
Source: USA Today
Share: LinkedIn Twitter Facebook

[back to top]

More Articles
 
Quotable
"Is [Elon] Musk the next Henry Ford -- or Preston Tucker?" 

      --- Alex Taylor III in a Fortune article discussing whether or not Tesla can continue to expand at its current rate, June 12

NADA Market Beat
May Sales Rise 12.3 Percent Over April
Chairman's Column
NADA Charitable Foundation Aids Dealership Employees Devastated by Tornado
Videos

 
Video: Bob Lutz on the Future of Electric Cars, Tesla, Fisker and Better Place (CNBC)

More Videos

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

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

- June 19: Digital Retailing Strategies That Increase ROI

- June 26: Advertising Checklist: Check Ten Boxes to Win!

 For more information about the webinars, click here.

NADA Foundation News
Oklahoma Auto Dealers Donate $50,000 for Tornado Relief
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 .