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Inside this issue
GM's Akerson to Retire; Barra Named New CEO
GM Bailout Ends as U.S. Sells Last of 'Government Motors'
Mercedes Passes Audi as BMW Defends Luxury-Car Sales Lead
Golf Demand Helps Boost VW-Brand Sales 3% in Nov.
Detroit Auto Show's App Accesses World Auto Shows
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Top Stories
GM's Akerson to Retire; Barra Named New CEO

She becomes the first female to lead Detroit automaker

General Motors Co. on Tuesday said GM Chairman and CEO Dan Akerson will retire as chairman and CEO on Jan. 15, 2014, and the company has named longtime GM employee Mary Barra, 51, to succeed him as CEO. The news comes a day after the federal government said it had sold all of its shares of GM. Barra, executive vice president of global product development, purchasing and supply chain, will become the company's first female CEO after she was elected to the post by the company's board of directors.
Source: The Detroit News
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GM Bailout Ends as U.S. Sells Last of 'Government Motors'

General Motors Co. is free from U.S. taxpayer ownership almost half a decade after first receiving government aid, underscoring the domestic auto industry's rebound from the deepest downturn since the Great Depression. The Treasury Department's sale yesterday of final shares of GM signals the end of Government Motors, as the nation's largest automaker was derisively labeled by some critics after the U.S. government stepped in with emergency funding in 2008. Bailouts from the George W. Bush and Barack Obama administrations helped GM avoid liquidation and reorganize in a 2009 bankruptcy that has given new life to the company. “This marks one of the final chapters in the administration's efforts to protect the broader economy by providing support for the automobile industry,” Treasury Secretary Jacob J. Lew told reporters yesterday on a conference call.
Source: Bloomberg
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Mercedes Passes Audi as BMW Defends Luxury-Car Sales Lead

Mercedes-Benz outsold Audi for the first time this year to become the world's second-largest luxury car brand in November as a new line of compacts lured customers to the Daimler AG unit. Mercedes delivered 133,440 cars and sport-utility vehicles last month, an 11 percent jump from a year earlier. That beat the 132,050 cars sold by Volkswagen AG's Audi. Bayerische Motoren Werke AG defended its lead with its namesake brand delivering 149,660 vehicles last month. November marked the fifth month in a row that sales gains by Mercedes outpaced increases at BMW and Audi. It was also the first month since December 2012 that the Daimler unit sold more than Audi, according to data compiled by Bloomberg News. Daimler Chief Executive Officer Dieter Zetsche is seeking to overtake the German rivals after dropping to third in 2011.
Source: Bloomberg
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Golf Demand Helps Boost VW-Brand Sales 3% in Nov.

Volkswagen Group said global sales of its core brand rose 3 percent in November, powered by demand for the seventh-generation Golf hatchback, the company's best-selling model. Deliveries at the brand increased to 522,100 last month, the company said in a statement. The rise marks the third month of consecutive growth at the brand after sales dipped by 1 percent in August and 0.5 percent in July largely due to Europe's slumping market.
Source: Automotive News
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Detroit Auto Show's App Accesses World Auto Shows

Detroit auto show organizers today said they will promote a new app next month at the show. The app, Auto Show Passport, will showcase auto shows from all over the world, said Rod Alberts, executive director of the North American International Auto Show in Detroit. NAIAS launched Auto Show Passport about a month ago, Alberts said. “People understand the global aspect of auto shows. It's really just taking that to people all over the world,” Alberts said. “It's not going to replace auto shows because you still want to kick the tires. This enhances the auto shows.” The free app allows users to access photos of vehicles at most major auto shows around the world.
Source: Automotive News
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More Articles
 
Quotable
"The American auto industry is back."

   -- President Obama praising the U.S. auto industry after the Treasury Department sold the last of its GM shares on Monday, USA Today, Dec. 10

NADA Market Beat
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A Season of Thanks
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