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Inside this issue
U.S. Car Sales Continue to Surge
Happy Days Return to the Car Market
Can the Auto Industry Keep its Sales Momentum?
Large Trucks Continue to Lead U.S. Sales Growth
Opinion: Detroit Automakers Have Right to Object to Japan's Currency Manipulation
Car Dealer Raffles Off Convertible for Tornado Victims
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
U.S. Car Sales Continue to Surge

Toyota reclaims No. 2 spot, eclipsing Ford as Honda edges past Chrysler

U.S. new car sales in July accelerated to a pace near that of 2007, when the industry and the U.S. economy were riding high before the global financial crisis struck. The top four auto sellers in the country posted double digit year-over-year gains. General Motors Co., the largest U.S. auto maker, posted a 16% increase, while Ford Motor Co. and Chrysler Group LLC each reported 11% sales gains for the month. Toyota Motor Corp., the third-largest seller this year after Ford, posted a 17.3% gain. The auto industry has been the most consistently improving area of the U.S. economy for the past several years. Auto and auto-parts makers have added hundreds of thousands of jobs as car and light truck demand rose from the industry's recent nadir in 2009.
Source: The Wall Street Journal

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Happy Days Return to the Car Market

Americans love their cars and trucks. And in July, they bought a whole lot of them. In fact, the auto market has now completed its long slog back to pre-recession levels. Americans bought cars and trucks at a 15.6 million annual rate in July, a bit below June and about the level of December 2007, when the recession began, and up from a low of 9 million in early 2009. It is an amazing comeback in many ways. But with the economy still weak and unemployment still high, how is it that auto sales have returned to pre-recession levels? The answers fall into three buckets, each with different implications for the future.
Source: The Washington Post
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Can the Auto Industry Keep its Sales Momentum?

In a surprise, Toyota surges into second place over Ford, but can momentum be maintained?

The auto industry got off to a powerful start to the second half of the year in July, with a 14% sales increase due to strong demand for pickups and small, fuel-efficient cars. Now the test is to see whether it can be maintained. General Motors occupied the top spot on overall sales, with a 16.3% increase over the same month a year earlier. But in a surprise, Toyota rode a 17.3% increase to take the second spot in cars sold, usually occupied by Ford, which had an 11.3% boost. Toyota was ahead by only 314 vehicles out of 193,394 it sold during the month. Honda was in fourth place with a 20.9% increase, and Chrysler Group came next with a 11.1% rise, Autodata reported Thursday. But some of the biggest percentage gains were among the other brands. Mitsubishi was up 24.7%, Mazda rose 29.3% and Subaru was unstoppable with 42.9%.

Overall, sales were so strong that some analysts believe total sales for the year could touch 16 million, which hasn't been seen since the better years of the last decade. An improving economy wasn't the only factor enticing buyers. Analysts say they are being drawn, too, by lower interest rates, leasing deals and incentives. Plus, more customers are rationalizing purchases by figuring how how much a new breed of fuel-efficient vehicles will save them at the pump.
Source: USA Today
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Large Trucks Continue to Lead U.S. Sales Growth

Large trucks remain the primary spark to U.S. light-vehicle sales, as the sector continued to be the fastest-growing major segment in the market in July. With help from small LVs and most cross/utility vehicle groups, large trucks spurred July's LV seasonally adjusted annual rate to 15.6 million units. Although the SAAR fell below June's 15.9 million, it still is the second highest for the year and marks an improvement from the 15.3 million rate in the year's first half. The performance also was 10% higher than same-month 2012's 14.0 million. Sales of large light trucks, which include pickups, SUVs, CUVs, and vans, plus their luxury versions, increased 18.8% over year-ago and are up 19.6% through July. The light-truck segment could be headed for a 6-year high in market share in 2013. Year-to-date penetration of 18.8% is well above year-ago's 17.0% and could push 20% by the end of 2013. Large pickups, which account for more than half of large-truck volume, continued to soar thanks to the segment's three main players, Chrysler, Ford and GM.
Source: WardsAuto
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Opinion: Detroit Automakers Have Right to Object to Japan's Currency Manipulation
By Tom Walsh

Last week, on the same day Japan finally jostled its way into the Trans-Pacific Partnership free trade talks with the U.S. and 10 other nations, petitions signed by more than 80,000 Ford, Chrysler and General Motors workers were sent to U.S. Congress members, urging that Japan be forced to stop rigging its currency to subsidize exports and keep out imports. Haven't we seen this movie before? It was 23 years ago that President George H.W. Bush got sick at dinner in Tokyo during a trip where he was wrangling over automotive trade issues with Japan, accompanied by the Detroit auto CEOs of that era — Chrysler's Lee Iacocca, GM's Bob Stempel and Ford's Red Poling. Today, this kind of chronic yammering between the two nations with the 21st Century's most productive and sophisticated economies just seems so, well, 20th Century — right? Protectionist. Whiny. Shouldn't the U.S. and Japan be the enlightened global leaders, showing emerging economies of the world how to benefit from freer and fairer trade? These trade issues do get sticky. Detroit's automakers need to be clear about their concerns but not shrill in their demands, if they want to shed their reputations as whiners and victims of unfair trade. They've shown of late that they can compete ably with their global rivals. They don't need tariffs or import quotas to protect them, but it's perfectly appropriate that they insist that all nations abide by the rules on currency and other trade barriers.
Source: Detroit Free Press
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Car Dealer Raffles Off Convertible for Tornado Victims

Help continues to pour in from all across the country as Oklahomans push forward to rebuild from the May tornado outbreak. A car dealer in Mississippi recently offered up a new convertible as part of a raffle to raise money for Oklahoma tornado victims. The tickets sold for $5 each with all of the proceeds headed to the Red Cross. The raffle was held Wednesday.
Source: KFOR-TV (Oklahoma City, Okla.)
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More Articles
 
Quotable
"It is an amazing comeback in many ways."

   
-- Neil Irwin of The Washington Post, commenting on auto sales returning to pre-recession levels, Aug. 2
NADA Market Beat
June's Light-Vehicle Sales Rate Is Highest Since November 2007
Chairman's Column
NADA Welcomes Congressional Calls for Transparency on CFPB Auto Lending Guidance
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NADA Webinars
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- Aug. 7: Buyers' & Sellers' Perspectives on the Market

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