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September 16, 2013 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
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Inside this issue
American Auto Sales Seen at Annual 16 Million With Profit
IRS Issues Final Tangible Property Regulations
Marchionne Says Chrysler Will File for Listing This Week, Report Says
Government Closer to Selling All GM Stock
Opinion: NADA Meets with GM Board of Directors
Ford's New U.S. Sales Boss is 'A Dealer Guy'
Obama to Visit Mo. Ford Plant, Highlight Industry Turnaround
Ford Launches Electric Vehicle Charging Network For Employees; Customers Log 30 Million All-Electic Miles
Video: Dealer Group Rattled, Renewed By Superstorm Sandy
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
American Auto Sales Seen at Annual 16 Million With Profit

The U.S. auto market is poised for a fifth straight year of growth for just the second time since World War II. The recovery from the recession has been so robust that the debate is now whether sales will reach 2000's record levels -- and whether that would even be a good thing. Deliveries of new cars and light trucks may rise to 16.1 million next year, the average estimate of 13 analysts in a survey by Bloomberg News. That's about 500,000 more vehicles than automakers are on pace to sell this year and while it's within reach of 2007's 16.15 million, it's well short of the 17.4 million peak. Since the annualized pace of auto deliveries in August exceeded 16 million for the first time in six years, analysts have been looking back at the last time sales were so brisk. Six years ago, while sales were still above 16 million, Detroit was losing billions, saddled with high costs and poor cars.
Source: Bloomberg
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IRS Issues Final Tangible Property Regulations

The IRS and Treasury Department on Sept. 13 released long-awaited final “Tangible Property” regulations, (T.D. 9636) providing guidance on how taxpayers can deduct or capitalize their expenses for maintaining, fixing and replacing tangible property. The final regulations: (a) will affect all taxpayers that acquire, produce or improve tangible property, including many dealers; (b) clarify and expand the standards in the current regulations under sections 162(a) and 263(a); (c) replace and remove prior temporary regulations under sections 162(a) and 263(a); (d) do not finalize or remove the 2011 temporary regulations under section 168, which are addressed in separate proposed regulations, and (e) in general, apply to taxable years beginning on or after Jan. 1, 2014 (however, certain rules apply only to amounts paid or incurred in taxable years beginning on or after Jan. 1, 2014).
Source: IRS/Treasury Department

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Marchionne Says Chrysler Will File for Listing This Week, Report Says

Fiat and Chrysler CEO Sergio Marchionne says Chrysler is ready to file documents for its initial public offering this week, the Financial Times reported [Monday]. "All the work, all the preparation, drafts have gone through ... we should be ready to file [IPO documents] within the third week of this month," CEO Sergio Marchionne was quoted as saying. On Friday, Marchionne said he did not think Fiat was getting any closer to an agreement to buy the remaining stake in its U.S. unit Chrysler from the U.S. VEBA healthcare trust. Marchionne had planned to buy the rest of Chrysler and merge it with Fiat to create the world's seventh-largest car group.
Source: Reuters
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Government Closer to Selling All GM Stock

It disclosed that it sold $811 million worth of stock in August

The government is getting closer to selling all of its General Motors stock. The Treasury Department said in its August report to Congress that it sold $811 million worth of GM common stock last month. The report dated Tuesday says the government has recovered about $35.4 billion of the $49.5 billion bailout it gave the Detroit automaker. That means taxpayers are still $14.1 billion in the hole. The Treasury says the price per share of stock sold in July and August will be revealed at a later date. GM stock sold in a range of $33.50 to $37.18 in August. At the midpoint of $35.34, the government would have sold roughly 23 million shares. In July, the government sold $877 million worth of stock. At the midpoint of $35.56, it would have sold roughly 25 million shares. That would leave it with an estimated 186 million shares. Those would have to sell for around $76 each for the government to break even, more than double the current trading price.
Source: Associated Press
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Opinion: NADA Meets with GM Board of Directors
By David Westcott

NADA's leadership recently received an unprecedented invitation to meet with the board of directors from General Motors Company in Detroit. GM was founded in 1908 and NADA in 1917. But last month marks the first time our leadership and the GM board have met face to face. On August 19, NADA President Peter Welch, NADA GM line group chairman Mark Scarpelli and I addressed the automaker's 14-member board and management staff. This included GM Chairman and CEO Daniel Akerson. As car and truck dealers, we work hard every day not only to establish good relationships with our customers but our manufacturers as well. This meeting was an opportune moment to share our current successes, challenges and goals, and we were met by a very receptive group.
Source: NADAFrontPage.com
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Ford's New U.S. Sales Boss is 'A Dealer Guy'

Felice to succeed retiring Czubay; Samardzich named COO in Europe

In naming John Felice to succeed Ken Czubay as head of U.S. marketing, sales and service, Ford Motor Co. promoted a veteran insider known for his close ties to dealers. "He's a collaborator, a dealer guy," said Jim Seavitt, owner of Village Ford in Dearborn, Mich. "He's hands on. He calls me to see how many cars I have out. He's very, very active in that." Felice, 51, assumes his new duties on Nov. 1 when Czubay, a hard-charging fitness fanatic who turns 65 next month, retires. The move was one of several changes Ford announced last week in its senior U.S. sales and marketing team and its Ford of Europe product development team. The promotion sets the stage for other changes. David Mondragon, 52, general marketing manager for Ford and Lincoln in the United States, will replace Felice as general sales manager for Ford and Lincoln. Chantel Lenard, 44, head of marketing for Ford's Asia Pacific Africa region, will replace Mondragon as U.S. marketing manager for Ford and Lincoln.
Source: Automotive News
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Obama to Visit Mo. Ford Plant, Highlight Industry Turnaround

President Barack Obama will visit Ford Motor Co.'s Kansas City Assembly Plant in Missouri on Friday as the White House highlights the fifth anniversary of 2008 financial meltdown that left banks, automakers and other financial institutions near the brink of collapse. Obama, who made the $85 billion auto bailout a cornerstone of his 2012 re-election bid, is visiting Ford's plant to tout the fact that others benefited from the rescue of the economy. Unlike General Motors Co. and Chrysler Group LLC, Ford didn't receive a government bailout. The White House said Obama would travel to the plant “where he will continue to highlight the progress we have made since the beginning of the financial crisis five years ago and the work that lies ahead to continue strengthening our economy and deliver a better bargain for the middle class.”
Source: The Detroit News

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Ford Launches Electric Vehicle Charging Network For Employees; Customers Log 30 Million All-Electic Miles

More Ford employees soon will be able to drive to work entirely on electricity, thanks to a new workplace charging network being installed at nearly every Ford facility in the U.S. and Canada. Ford plans to install electric vehicle charging stations at more than 50 of its company offices, product development campuses and manufacturing facilities. Installation will begin later this year and roll out across company facilities throughout 2014. The popularity of Ford's electrified vehicles led to the company's best-ever retail U.S. sales results for Fusion Energi and C-MAX Energi plug-in hybrid vehicles in August. That contributed to Ford's best August electrified vehicle sales ever, with 8,292 vehicles sold, up 288 percent over the same period a year ago. August also marked the 11th consecutive month Ford achieved electrified vehicle sales records. Nearly two-thirds of new Ford electrified vehicle sales are coming from buyers trading in other car brands.
Source: Ford Motor Company
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Video: Dealer Group Rattled, Renewed By Superstorm Sandy

New Jersey dealer Adam Kraushaar and his employees at the Lester Glenn Auto Group turned “therapists” for each other and the community following Superstorm Sandy last year. They put customers in rental cars until new cars could be sold. And local police officers whose vehicles had been destroyed made their rounds in pickups supplied by Lester Glenn stores. As the anniversary of Sandy approaches, Kraushaar says changes born out of necessity have forged a cultural change for the better.
Source: Automotive News

Editor's note: For those who missed it, click here for NADA-TV's coverage of Hurricane Sandy's impact on dealership employees.
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More Articles
 
Quotable
"It’s not just the number 16 that’s amazing. It’s the fact that it’s coming effortlessly. We’re not dumping cars and trucks into the fleets. We’re not using humungous incentives to move them. It’s a reflection of people’s willingness to buy and the strength of the product out there."

    -- George Magliano, chief economist for IHS Automotive, commenting on the U.S. auto market being poised for the fifth straight year of growth, Bloomberg, Sept. 16
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