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January 14, 2014 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
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Inside this issue
The Roar is Back at Detroit Auto Show
NADA Alerts Members to Review Their Advertising
Marchionne to Remain CEO of Fiat, Chrysler for 3 More Years
EPA Chief Gives Automakers 'A' for Fuel Economy Effort
NADA: Used Vehicle Prices Climb for Fifth Straight Year
Celebrating Diversity at the Urban Wheel Awards
NADA's New Chief Economist Returns to His Roots
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
The Roar is Back at Detroit Auto Show

A Chevy motorcade snarled Monday rush hour on Interstate 75 Monday as 50 C7 Corvettes accompanied their snarling sibling — the 625 hp Z06 — to its debut at Cobo Center. Camouflaged in black and white spots and chained to a trailer, the Vette looked like a wild animal on its way to the Big Top. The automotive circus is back in town. After years of losses and government-intervention to save a crippled industry, the Stingray parade was testimony that the North American International Auto Show has put its worst days in the rear-view mirror. Trucks, horsepower, and high tech dominated Monday's media kickoff in downtown Detroit. Where fuel sippers once begged for recession-pinched customers, big trucks and sports cars flexed their muscles. Where necks once craned for House Speaker Nancy Pelosi, journalists scrambled for a glimpse at GM CEO, Mary Barra. Where glitzy concepts were thought an endangered species, innovative prototypes are back in fashion. Even once-dingy Cobo has received an extreme makeover, its riverfront glass wall giving it the airy feel of a sunlit airport concourse.
Source: The Detroit News

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NADA Alerts Members to Review Their Advertising

Notice follows FTC settlement with 9 dealers

In the wake of a crackdown by the Federal Trade Commission on deceptive dealership advertising, the National Automobile Dealers Association sent an e-mail to its board late Thursday, urging dealers to review their advertising closely and warning them not to deflect responsibility onto third-party vendors. The e-mail went to NADA's 64-member board of directors and to 108 state association heads. The state association heads are expected to deliver the information to their dealer members, an NADA spokesman said. In the e-mail, NADA's Bill Fox, chairman of NADA's regulatory affairs committee, urged dealers to review their advertising, “whether online, in print, or over the air to ensure that it is not misleading, that it includes the required disclosures if applicable, and that those disclosures are clear and conspicuous.” The warning follows news that nine dealerships had agreed to settlements with the FTC after being charged with deceptive advertising.
Source: Automotive News
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Marchionne to Remain CEO of Fiat, Chrysler for 3 More Years

Fiat SpA's board of directors will meet Jan. 29 to decide what to call the newly combined Fiat-Chrysler organization. The board also is expected to make a decision about where its legal headquarters will be and where its stock will be traded. CEO Sergio Marchionne told reporters at the North American International Auto Show in Detroit Monday that the new company “will have both Fiat and Chrysler in” its name. As for where it will be based and where it will be traded, Marchionne said “the United States would appear to have a large claim” because of “access to capital markets and the ability to finance operations.” Marchionne said he will reveal a three-year plan for the combined company at the end of April or beginning of May. While he confirmed he is staying at least three years, Marchionne acknowledged succession planning is a major issue. “It is my expectation that my successor will come from the Fiat-Chrysler world.” Fiat's shares are now traded in Milan, but Marchionne said it also makes sense to list the company in New York.
Source: The Detroit News

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EPA Chief Gives Automakers 'A' for Fuel Economy Effort

Car companies are fiercely competing for better fuel economy. EPA Administrator Gina McCarthy is convinced they're trying about as hard as they can. Speaking to reporters [Monday] at the Detroit auto show, McCarthy said that if the fuel economy standards must be scaled back during a "midterm review" in 2017, it will be due to no lack of effort within the industry. "If we don't quite get there … it is not going to be the fault of those companies," said McCarthy, who helped oversee the crafting of the standards as the EPA's top air pollution official, and was confirmed as administrator last year. "They are trying hard. They are working. They are investing."
Source: Automotive News
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NADA: Used Vehicle Prices Climb for Fifth Straight Year

Prices for used cars and light trucks have increased for five straight years, says the NADA Used Car Guide. December closed out 2013 with prices 0.4% higher than in 2012. “A stronger economy, pent-up demand and favorable credit conditions underpinned used vehicle price strength in 2013,” said Jonathan Banks, executive automotive analyst of the NADA Used Car Guide, in the December edition of Guidelines, a monthly report on new and used vehicle sales trends and price movement. Trade-in values for 2006 to 2013 model year units, according to the NADA Official Used Car Guide, were reduced by a cumulative average of 15.9% in 2013, a slight improvement from 16.1% in 2012. A combination of low supply and moderating gasoline prices helped keep overall light truck depreciation to just 13.5% last year, a figure better than the 17.6% rate of decline recorded for cars.
Source: NADAFrontPage.com
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Celebrating Diversity at the Urban Wheel Awards

On Monday the auto industry gets down to business at the North American International Auto Show [in Detroit]. But on Sunday night it partied with the purpose of celebrating diversity and raising money to help educate young people at the 18th Annual Urban Wheel Awards Show. Dealers, suppliers and at least one auto company were honored for their contributions and commitment to diversity, followed by an evening of music, dancing, dining and networking. Toyota was named the 2014 Company of the Year. Among the presenters were Damon Lester, president of the National Association of Minority Automobile Dealers, and David Westcott, chairman of the National Automobile Dealers Association.
 
Three dealers, each a member of a different minority group, were honored as recipients of the 2014 Urban Dealer of the Year. They are: Manuel Gonzalez, president of Sterling Auto Group in Bryan, Texas. Gonzalez, who is Hispanic, opened his first dealership in 1992; Dorian Boyland, CEO of Boyland Auto Group in Orlando, Fla., the fourth-largest African-American-owned dealership group in the United States, according to Black Enterprise, a business publication targeted to the African- Americans; and Rahim Hassanally, dealer principal of Momentum Auto Group in Fairfield, Calif. Hassanally, who is Asian, was among the dealers and dealership managers recognized last year by Automotive News as a "40 under 40" rising star in retail automotive.
Source: Automotive News
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NADA's New Chief Economist Returns to His Roots

Detroit's cold winter temperatures don't bother Steven Szakaly. Szakaly grew up in Motown. He has returned to walk the auto show floor in his new role as the National Automobile Dealers Association's chief economist. He replaced Paul Taylor, who retired last spring. If there's one thing Szakaly loves about the Detroit auto show, besides being back in the D, is being back in the auto industry. "It's great," he said on the show floor. "It feels like I never left."
Source: Automotive News
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Quotable

"These are great times!"

   ---  Mark Reuss, General Motors' incoming product chief, commenting on the comeback of the auto industry during the Detroit auto show, The Detroit News, Jan. 14

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