View Mobile Version | View Web Version

SPONSORED BY
 
NADA.org
April 2, 2014 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
nada.orgAdvocacyAffiliates | Convention | Jobs | Programs | Publications | Services | Training
Inside this issue
Don't Miss Today's Webinar on NADA's Fair Credit Compliance Program
GM CEO Mary Barra: Poor Decisions in Past Do Not Reflect the GM of Today
March Auto Sales Beat Projections, Rise 5.7%
BMW's March Push Narrows Mercedes' U.S. Luxury Sales Lead
NADA Report: Used Vehicle Prices Will Remain at a High Level in 2014
Chrysler Recalling 870,000 SUVs for Possible Brake Problems
Ford to Cut About 950 Jobs in Russia on Weakening Ruble
Ram Horns Up Top 20 Best-Selling Cars List
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Don't Miss Today's Webinar on NADA's Fair Credit Compliance Program

NADA Chief Regulatory Counsel Paul Metrey will conduct a NADA webinar on the optional NADA Fair Credit Compliance Program that NADA, AIADA, and NAMAD recently released to their members. The webinar will provide a general overview of the purpose and scope of the NADA program as well as general and specific instructions for developing the program. The first part of the webinar will focus on the information the dealer principal or general manager needs to know and the second part will provide the information needed for the senior dealership employee who will actually develop, implement, and maintain the program. The webinar will be held today, April 2 at 1 p.m. ET. Click here to register.
Source: NADA University Online

Editor's note: To download the NADA Fair Credit Compliance Policy & Program, go to www.nada.org/faircredit.
Share: LinkedIn Twitter Facebook

[back to top]

GM CEO Mary Barra: Poor Decisions in Past Do Not Reflect the GM of Today

General Motors CEO Mary Barra told congressional investigators looking into a defective-ignition-switch recall linked to 13 deaths that the company has moved from a “cost culture” to a more customer-friendly one and that it has hired a famous compensation expert to help the automaker navigate its response to those affected. Barra, who has been CEO for less than three months, fielded questions Tuesday from the House Oversight and Investigations Subcommittee for two hours, avoiding any obvious gaffes and keeping her cool. She largely ducked providing specific answers, reiterating that an independent, internal investigation led by former U.S. Attorney Anton Valukas was under way to find out why it took until last month to recall vehicles with ignition switch problems first detected in 2001.

Noting the hiring of Ken Feinberg, an attorney who led victims compensation efforts in the World Trade Center attacks of Sept. 11, 2001, the BP gulf coast oil spill and the Boston Marathon bombing, Barra told committee members that decisions made in previous years not to address the longstanding issues do not reflect GM's current culture. Asked about a report indicating GM considered a fix in response to problems in 2004 but rejected it because of the “lead time required, cost and effectiveness,” Barra said she “found that statement to be very disturbing” and called it “unacceptable. That is not how we do business in today’s GM."
Source: Detroit Free Press

Editor's note: The Senate Commerce Committee hearing on GM began at 10 a.m. today. To view the live webcast of the hearing, click here.

Related Stories:


Share: LinkedIn Twitter Facebook

[back to top]

March Auto Sales Beat Projections, Rise 5.7%

U.S. auto sales in March climbed 5.7 percent — topping analyst projections of a 2 percent bump — as consumers returned to thawing dealerships after an abnormally chilly start to the year. Overall automakers sold nearly 1.54 million vehicles as the seasonal selling rate hit 16.4 million, 1.1 million higher than last March. Sales of mid-size cars, sport-utility vehicles and trucks drove auto sales, particularly in the latter half of the month, when temperatures warmed and consumers came back to dealerships. The industry as a whole beat analyst estimates and helped make up for lost sales earlier in the year. The end-of-month burst was unexpected by many analysts, who now think renewed consumer confidence and pent-up demand could carry over into April.
Source: The Detroit News

Related Stories:


Share: LinkedIn Twitter Facebook

[back to top]

BMW's March Push Narrows Mercedes' U.S. Luxury Sales Lead

Bayerische Motoren Werke AG's BMW brand posted its best March sales ever, helping the German luxury-automaker shrink Mercedes-Benz's 2014 lead. BMW sold 32,107 vehicles last month, an increase of 19 percent from a year earlier, led by its mid-size sedans and SUVs. Mercedes, a Daimler AG unit, sold 27,401 vehicles in March, a gain of 11 percent from a year earlier, led by its top-of-the-line S-Class sedan and entry-level SUV, the GLK, according to a statement.
Source: Bloomberg
Share: LinkedIn Twitter Facebook

[back to top]

NADA Report: Used Vehicle Prices Will Remain at a High Level in 2014

Economic expansion and a supportive credit environment will keep used prices stable

Average wholesale prices of used cars and light trucks up to eight-years-old will decrease by a range of 0.5% to 1% in 2014, according to the NADA Used Car Guide in its latest report, 2014 Used Vehicle Price Forecast. This modest drop will keep levels on par with 2012 and 14% higher than 2010. “Economic growth is expected to accelerate to its fastest pace since 2005, keeping demand for new and used autos high,” said Jonathan Banks, executive automotive analyst for NADA Used Car Guide. “A strong economy, combined with other positive factors, leads to a more positive outlook for used vehicle prices in 2014.”
Source: NADAFrontPage.com
Share: LinkedIn Twitter Facebook

[back to top]

Chrysler Recalling 870,000 SUVs for Possible Brake Problems

Chrysler Group said Wednesday it will recall nearly 870,000 SUVs to prevent brake problems tied to water exposure. The Auburn Hills unit of Fiat Chrysler Automobiles will install a shield that protects brake boosters from corrosion. The recall covers 2011-14 Jeep Grand Cherokee and Dodge Durango SUVs. Chrysler dealers will replace the boosters if their capability has been reduced. All boosters will be equipped with a shield to insulate their crimp joints from water. Chrysler received a report in 2013 from a customer raising concerns about excessive brake-pedal firmness. The investigation discovered certain vehicles have brake boosters with small crimp joints; and these joints may exhibit rust when exposed to water. Chrysler made a production change in September to use joints treated with a special coating designed to resist rust.
Source: The Detroit News
Share: LinkedIn Twitter Facebook

[back to top]

Ford to Cut About 950 Jobs in Russia on Weakening Ruble

Ford Motor Co.'s Russian joint venture is cutting about 950 jobs at two factories in response to the falling ruble and deteriorating demand in the country. A car plant run in partnership with OAO Sollers near St. Petersburg will eliminate about 700 positions as it drops a work shift in June, John Gardiner, a spokesman for Ford in Cologne, Germany, said yesterday by phone. Another 250 temporary personnel will be let go at a Ford-Sollers site in the country's Tatarstan region. The Russian auto market was declining even before the country's annexation of the Crimean peninsula and massing of troops on Ukraine's borders drew international economic sanctions in the biggest crisis between Russia and NATO countries since the end of the Cold War. Car deliveries fell 4 percent in January and February, following a 5.5 percent drop in 2013 to 2.78 million vehicles.
Source: Bloomberg
Share: LinkedIn Twitter Facebook

[back to top]

Ram Horns Up Top 20 Best-Selling Cars List

As the weather warmed last month, so did auto sales, and along the way came some big changes when it comes to most popular vehicles. Normally, Chevrolet Silverado is right behind Ford F-Series as the nation's best-selling vehicle. They've been No. 1 and 2 for years. But in March, Chrysler Group's Ram 1500 snuck up from behind the took the No. 2 spot, according to Autodata, which tracks sales data. The truck has received wide attention and strong reviews -- and now has the sales numbers to match. Click here for the top 20 best-selling cars list.
Source: USA Today
Share: LinkedIn Twitter Facebook

[back to top]

More Articles
 
Quotable

"We're going to work very hard to do the right thing for our customers."

      --- GM CEO Mary Barra, during a Congressional hearing on Tuesday regarding the automaker's recall, Detroit Free Press, April 1   

 Sponsored by
 

NADA Market Beat
Cold February Weather Dampens Light Vehicle Sales
Chairman's Column
The Franchise Dealer Network—An Economic Engine
Videos

 Meet NADA Chairman Forrest McConnell (NADA-TV)


NADA Used Car Guide's Jon Banks Highlights March's Guidelines (NADA-TV)

Sponsored by
 

NADA University Webinars
All webinars will be held at 1 p.m. ET unless otherwise noted. 

-- April 2: NADA’s Fair Credit Compliance Program

-- April 3: Tips for Submitting a Great Workshop Proposal 

NADA Foundation News
New Orleans' High Schools Receive CPR Training Manikins

ADESA and NADA Donate $37,000 to Canine Companions

NADA and Ally Donate $50,000 to Second Harvest Food Bank in New Orleans 
 
Search Back Issues | Unsubscribe | Subscribe | Manage your subscription | email us
NADA For more information on NADA, visit www.nada.org or contact NADA, 8400 Westpark Drive, McLean, VA 22102. This email may contain an advertisement of NADA products and services. Any opinions or statements contained herein do not necessarily reflect the views of NADA. Factual errors are the responsibility of the listed publication. If you are a franchised new-car or -truck dealer and would like to become a member of NADA, please visit the Join NADA section of www.nada.org. Questions or comments concerning NADA Headlines content may be directed to publicaffairs@nada.org .