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Inside this issue
NADA Chairman to Discuss Why the Dealer Franchise Network is Essential
U.S. Sales Stalling as Shutdown Drags On, Hyundai's Krafcik Says
Chrysler's UAW Health Care Trust Assets Rise 18% Amid IPO Push
REMINDER: New Consent Requirements for Telephone Calls and Text Messages Effective Oct. 16
China's Passenger-Car Sales Rise 21% in September
U-M, Ford Team Up On Battery Lab
GM Expands Chevy Models Equipped with Apple Siri 'Eyes Free' System
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
NADA Chairman to Discuss Why the Dealer Franchise Network is Essential

David Westcott, chairman of the National Automobile Dealers Association, will discuss the consumer benefits of the dealer franchise network in remarks to the Automotive Press Association in Detroit on Oct. 16. Westcott will also talk about the Consumer Financial Protection Bureau's lack of transparency and unresponsiveness to Congress as it pursues a policy that could weaken competition in auto lending and result in higher credit costs for consumers.
Source: NADA Public Affairs
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U.S. Sales Stalling as Shutdown Drags On, Hyundai's Krafcik Says

Toyota, Lexus offer relief to furloughed workers

The prolonged U.S. government shutdown is damaging consumer confidence and may trim October new-vehicle sales by as much as 10 percent, said John Krafcik, CEO of Hyundai Motor Co.'s U.S. sales unit. The standoff in Washington that began Oct. 1, leaving some government agencies closed and federal workers furloughed, is generating "anxiety" for many people, Krafcik said in an interview with Sara Eisen, an anchor of Bloomberg Surveillance. "It's that anxiety that keeps customers, potential buyers, on the sidelines when making a big purchase like an automobile," he said. "We'll probably see the industry off five to 10 percent this month, compared to where it was in September. I think a lot of it has to do with this shutdown discussion." Auto sales have been a consistent bright spot for the U.S. economy this year.
Source: Bloomberg
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Chrysler's UAW Health Care Trust Assets Rise 18% Amid IPO Push

The UAW Chrysler Health Care Trust said its assets grew by $1.58 billion last year, more than half of which came from the rising value of its Chrysler holding. The trust's net assets grew by 18 percent in 2012 to $10.3 billion, according to its 2012 financial statement, filed Oct. 11. Almost $900 million of the gain resulted from an increase in the value it placed on its Chrysler stake. Expenditures for benefits rose less than 0.1 percent to $631.1 million. Sergio Marchionne, chief executive officer of Chrysler and majority owner Fiat SpA, has spent four years trying to merge the companies. Fiat filed for an initial public offering of Chrysler shares last month at the behest of the trust. The two sides are sparring over the value of the trust's 41.5 percent stake, listed as $3.6 billion in the 2012 filing.
Source: The Detroit News
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REMINDER: New Consent Requirements for Telephone Calls and Text Messages Effective Oct. 16

New consent requirements from the Federal Communication Commission for phone calls and text messages go into effect on Oct. 16, 2013. Dealers should review the rules and work with their counsel and any third party vendors to ensure that all phone calls and text messages they make or send (or that are made or sent on their behalf) meet these new requirements. Click here for further details on the new requirements.
Source: NADA Regulatory Affairs
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China's Passenger-Car Sales Rise 21% in September

New car sales in China in September increased at the fastest pace in eight months, boosting results at major foreign auto makers including BMW AG, Ford Motor Co. and Nissan Motor Co. China's car sales totaled 1.59 million vehicles last month, up 21% from the year-earlier period, the industry group China Association of Automobile Manufacturers said on Friday. Analysts say seasonality and very low year-ago sales among Japanese auto makers contributed to the strong results. Sales generally increase before the Oct. 1 National Day holiday and Japanese car makers' sales were gutted in September last year due to a tensions during a territorial conflict between China and Japan.
Source: The Wall Street Journal

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U-M, Ford Team Up On Battery Lab

$8M facility to develop cheaper power for electric vehicles

The University of Michigan announced [Monday] the creation of an $8 million lab that will focus on making electric vehicle batteries cheaper and longer-lasting. The lab, which received funding from the Michigan Economic Development Corp., Ford Motor Co. and the U-M College of Engineering, will allow automakers, battery makers and individual researchers to test battery cells, and save significant time and money as they race to create more efficient battery packs.
Source: The Detroit News
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GM Expands Chevy Models Equipped with Apple Siri 'Eyes Free' System

General Motors Co. Monday said it has expanded the number of Chevrolet vehicles that are equipped with Apple's Siri “Eyes Free” integration, allowing drivers with newer iPhones to listen to text messages while driving, play music from their iTunes library and make telephone calls using voice commands. Last week, the Detroit automaker announced the service was available on the 2014 Chevrolet Malibu now hitting dealerships. GM said Siri “Eyes Free” also will be available on 2014 models of the Camaro, Cruze, Equinox, SS and Volt. The Siri “Eyes Free” system was first available earlier this year on the Chevy Spark, Spark EV and Sonic vehicles.
Source: The Detroit News
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More Articles
 
Quotable
"Industrywide, we're definitely seeing a slowdown in October."

--- John Krafcik, CEO of Hyundai Motor Co.'s U.S. sales unit, commenting on the impact of the government shutdown on the auto industry, Bloomberg, Oct. 14

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Auto Sales Subdued for September
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NADA Webinars
(All webinars begin at 1 p.m. ET. Click webinar title to register.) 

- Oct. 16: What Bankruptcy Can and Cannot Do for Your Dealership

- Oct. 23: Millenials: Driving the Next Car Evolution

- Oct. 30: The Four Service Sheets

- Nov. 6: Buy-Sell Transaction Tips and Tricks

- Nov. 13: U.S. Car Sales – The Year in Review and a Look Ahead

- Nov. 20: DMS Access Concerns (Part II)

For more information about the webinars, click here.

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Miami Township Firehouse Education Revitalized with Donation (Cincinnati.com)
 
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