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Inside this issue
Mark Fields Replaces Mulally as Ford CEO
Fiat Chrysler Maps Out Another 5 Years
Chrysler Group Sales Best Since 2007; Jeep Leads
Used Department 'Increasingly Important' for Dealers
Ford Likely to Exceed Pledge to Hire 12,000 Workers by 2015
NJ Dealers Near $250K to Aid Children’s Cancer Treatment
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Top Stories
Mark Fields Replaces Mulally as Ford CEO

Ford made it official today: Alan Mulally will retire as CEO on July 1 and Mark Fields has been named president and CEO. While the transition has long been expected, the moment nevertheless marks a historic turning point as Mulally, who was a newcomer to the industry in 2006, ends his tenure at Ford after leading the company through a massive turnaround. Fields now comes in as a battle tested, long-time Ford executive who has led the automaker's turnaround in North America.
Source: Detroit Free Press
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Fiat Chrysler Maps Out Another 5 Years

Marchionne challenged to sustain merged companies' progress

On Nov. 4, 2009, Sergio Marchionne took the stage at the Chrysler Technical Center in Auburn Hills to outline his vision for the born-again automaker. The five-year plan Marchionne and his newly assembled executive team outlined at that daylong briefing for analysts and journalists offered an unprecedented view of the future plans of an American automaker, albeit one now controlled by an Italian company. It charted a course for the new Chrysler from the gates of history's graveyard back to the top tier of the U.S. automobile market. Marchionne promised big things for the company that Fiat had just acquired for nothing from an Obama administration eager to unload Chrysler to anyone willing to cover the electric bill: a return of the Fiat brand — and Fiat small car technology — to the United States, a rebirth of the Chrysler brand, even an electric vehicle to feed the administration's appetite for green technology. In four-and-a-half years, Marchionne and his team have accomplished most — but not all — of what they promised. Now, on May 6, the management team will hold another daylong briefing in Auburn Hills [Mich.] to outline a new five-year plan, not just for Chrysler but for all of the brands of the newly constituted Fiat Chrysler Automobiles NV.
Source: The Detroit News
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Chrysler Group Sales Best Since 2007; Jeep Leads

Chrysler Group said it sold 178,652 units vehicles in the U.S. in April, a 14% increase compared with sales in April 2013 , and the group's best April sales since 2007. Jeep again powered the increase. The small Patriot and Compass had strong increases, and the new Cherokee sales nearly matched those of the brand's best-seller, Wrangler.
Source: USA Today
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Used Department 'Increasingly Important' for Dealers

In one particular piece of The Blue Sky Report from Haig Partners, the firm emphasizes the often strong profitability of a dealer's pre-owned operation, while also illustrating the importance of that department with this key statistic: The share of total retail unit sales that used vehicles accounted for in 2013 was more than 7 percentage points higher in 2013 than it was in 2007, according to the report. There were 152,342 more used unit retail sales in 2013 than there were in 2007, the report indicated, citing filings with the SEC. “More dealers are focused on their used-vehicle business because of the sometimes stronger profits for used cars, and the reconditioning that also boosts fixed operations,” the report notes.
Source: Auto Remarketing
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Ford Likely to Exceed Pledge to Hire 12,000 Workers by 2015

Ford Motor Co., boosted by record profits in North America, is likely to hire more than the 12,000 new workers that it promised in its 2011 contract with the United Auto Workers, according to its top American executive. “The business has grown faster than we predicted it would in 2011,” Joe Hinrichs, Ford's president of the Americas, said in an interview [Wednesday]. The company's hiring “is definitely ahead of schedule and there's a high probability we'll overshoot” the 12,000 hourly jobs it committed to create in the 2011 contract. The second-largest U.S. automaker said yesterday it hired 2,000 new workers at its Claycomo, Missouri, factory, where it is investing $1.1 billion to add production of the Transit cargo van to the F-series trucks the plant also builds. Ford said it now has completed about 75 percent of its commitment to hire 12,000 workers by 2015.
Source: Bloomberg
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NJ Dealers Near $250K to Aid Children’s Cancer Treatment

The New Jersey Auto Retailers Unite campaign is a one-of-a-kind partnership between The Valerie Fund and franchised dealerships in the Garden State to raise money and awareness of The Valerie Fund and highlight the charity work these stores do in communities throughout New Jersey. To date, 129 dealerships have raised nearly $250,000 as part of the New Jersey Auto Retailers Unite campaign and more are signing up nearly every day. The campaign officially begins on June 1 and will run through Sept. 30. Established in 1976 in memory of Valerie Goldstein, The Valerie Fund's mission is to provide support for the comprehensive health care of children with cancer and blood disorders. Families turn to The Valerie Fund because of the combination of medical care, counseling, and other services it provides.
Source: Auto Remarketing
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Quotable

"Alan deservedly will be long remembered for engineering one of the most successful business turnarounds in history. Under Alan’s leadership, Ford not only survived the global economic crisis, it emerged as one of the world's strongest auto companies." 

   
-- Ford's Executive Chairman Bill Ford, commenting on Alan Mulally's announcement to retire as CEO on July 1, Detroit Free Press, May 1

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