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Inside this issue
Confident Consumers Step Up Their Borrowing
Europe Car Market Begins Recovery as Recession Concludes
Ford Targets Higher Capital Spending, Dividend Boost By Mid-Decade
GM Sales of 2013 Trucks Ahead of Plan
Could Outmoded Phone Booths Become E.V. Charging Stations?
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Confident Consumers Step Up Their Borrowing

Auto loans post largest gain in seven years, even as total consumer debt declines

After years of struggling to shed debt, Americans are finally gaining enough confidence in their finances to step up borrowing for autos, homes and other goods—a shift that could boost the economic recovery. Auto lending increased by $20 billion in the second quarter from the previous quarter, the largest gain in seven years, Federal Reserve Bank of New York figures showed Wednesday.
Source: The Wall Street Journal
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Europe Car Market Begins Recovery as Recession Concludes

The European car market is showing the first signs of improvement as a recession ends in the 17 countries using the euro, industry executives said. Car sales in July rose in Germany, France, the U.K. and Spain, and the decline in Italy was the least this year, following a drop across the region in June to the lowest demand since 1996. Gross domestic product in the euro area rose 0.3 percent in the three months through June, led by expansions in Germany and France, ending a six-quarter streak of contractions, the European Union statistics office in Luxembourg said [Wednesday]. Even so, car sales in Europe, including the non-EU countries of Switzerland, Norway and Iceland, are still projected to reach a two-decade low for the full year in a sixth annual drop.
Source: Bloomberg
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Ford Targets Higher Capital Spending, Dividend Boost By Mid-Decade

Ford Motor Co. [Wednesday] laid out a more ambitious mid-decade plan that includes a higher dividend and a 25 percent increase in capital spending, to take advantage of growing automotive demand worldwide. Ford's plans will "enable us to sustain an investment grade credit rating through the inevitable downturn to come," CFO Bob Shanks said in a Ford presentation at an analysts conference sponsored by J.P. Morgan. The automaker expects capital expenditures of around $7.5 billion by mid-decade, up from its previous forecast of $6 billion.
Source: Reuters
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GM Sales of 2013 Trucks Ahead of Plan

General Motors Co.'s North America chief financial officer said Tuesday the Detroit automaker is ahead of its plan in selling 2013 Chevrolet Silverado and GMC Sierra pickups as it transitions to new trucks, and the remaining 2013 models are selling at higher prices than predicted. Chuck Stevens said the company has sold 20,000 to 30,000 more 2013 trucks than it had planned to by now as it transitions to all-new 2014 Silverados and Sierras. “The (old pickup) sell-down is performing really well. We're a bit ahead of plan on that,” Stevens said during an annual J.P. Morgan auto conference in New York City. “The pricing environment ... has not been as negative as we anticipated.” The pickup truck market is hot and full-size pickup sales for GM jumped 44 percent in July over the same month a year ago. About 85 percent of GM's pickup sales in July were the 2013 models, but that number will drop as more 2014 pickups hit dealerships.
Source: The Detroit News
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Could Outmoded Phone Booths Become E.V. Charging Stations?

Consider New York's public pay telephones. They may be outdated in the digital age, but they have telephone wiring and are often supplied with electricity. More important, they already occupy precious city real estate — and already have the permits necessary to stay there. Is it possible to imagine some of them seamlessly replaced with electric vehicle charging stations, with vital dedicated parking spaces?
Source: The New York Times
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More Articles
 
Quotable
"The worst is over."

   
-- Roelant de Waard, head of sales and marketing for the Ford of Europe division, commenting on the European auto market showing signs of improvement as the recession ends, Bloomberg, Aug. 15
NADA Market Beat
July Sales Down From June, But Beat July 2012
Chairman's Column
'Accelerate' Your Business at the NADA Convention in New Orleans
Videos

 
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