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Inside this issue
Fields: Ford Can't Slip to Reverse
Will Rivals Snap Up Toyota Talent That Stays Behind?
Skyrocketing Store Values Complicate Dealer Exits
Jeep Wants to Double Global Sales By '18
GM Offers Employee Pricing to Owners of Recalled Cars
Facebook COO Sheryl Sandberg Revs Motor City Audience with Talk About Cars and Social Media
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Fields: Ford Can't Slip to Reverse

Preserving Mulally's culture is imperative

If Mark Fields is going to fill Alan Mulally's shoes at Ford Motor Co., he can't allow the bad mojo Mulally banished from the culture to creep back in. And he says a key indicator of Ford's culture is whether there is sniping and backbiting at meetings. "I remember in the past, you'd be in a meeting, and somebody would say something snarky or use humor at the expense of somebody else," Fields said in an interview. "Alan always made a big point whenever that happened to say: 'Hold on there, guys and gals, we have to stick to our One Ford behaviors.' He was able to politely remind everybody we have to walk the talk on the culture." Last week, Ford's board named Fields to succeed Mulally, effective July 1. During his quarter century at Ford, Fields has seen the good, the bad and the ugly at a company once riven with petty rivalries, bickering and factionalism.
Source: Automotive News

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Will Rivals Snap Up Toyota Talent That Stays Behind?

Toyota's move to north Texas almost certainly will put some of its senior managerial and executive talent in play. But those who choose not to board the plane to Plano may find limited appetite for Toyota veterans among competing automakers in Southern California. West Coast auto industry executives say that American Honda, Hyundai Motor America, Kia Motors America, Mazda North American Operations and Mitsubishi Motors North America lack the capacity to absorb large numbers of ex-Toyotans into their payrolls. Toyota's deep bench of seasoned mid- to senior-level executives, who tend to earn higher salaries than counterparts at other companies, may find it tough to make a parallel move onto those leaner staffs without taking a hit to their salaries, industry executives said.
Source: Automotive News

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Skyrocketing Store Values Complicate Dealer Exits

General managers can't buy, owners can't cede to kids

When longtime general manager Ryan Kirkpatrick finally found the Ford dealership he would end up buying, it had fewer than 20 vehicles in stock and sales of about 13 cars a month. Working in large dealerships his entire career, Kirkpatrick had saved his money for years. He also cashed in his 401(k) and sold his house to buy the store in Sealy, Texas. But even with a partner, he only had enough money for a fixer-upper. Kirkpatrick's dilemma is the same facing other talented general managers who dream of buying their own stores. Dealerships have risen in value so much since the late 1990s, when formation of the public retailers began pushing up prices, that few managers can afford to buy out their owners.
Source: Automotive News
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Jeep Wants to Double Global Sales By '18

Jeep will double global sales by 2018 with strong growth in South America and China under Fiat Chrysler's five-year product and business plan, sources said. On Tuesday, May 6, CEO Sergio Marchionne and his executive team will reveal the company's plan in Auburn Hills, Mich. The company wants to boost Jeep's global sales to more than 1.5 million by 2018, the sources said. Last year, the brand's sales worldwide grew by 36 percent to 731,565 units.
Source: Automotive News

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GM Offers Employee Pricing to Owners of Recalled Cars

General Motors is offering employee pricing on a new GM vehicle to owners of 2.6 million small cars under recall for faulty ignition switches. Some 2.2 million of those recalls — a slew of 2000s-era Saturns, Chevrolets and Pontiacs — are in the U.S., with repair work currently underway. The quiet move comes weeks after GM said it would offer $500 off the purchase of a new vehicle to affected drivers — a provision that ran through April 30. The automaker's latest program, also unadvertised, will save even more money for those who use it.
Source: Cars.com

Editor's note: For more information on the GM recall, go to www.gmignitionupdate.com or www.safercar.gov.

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Facebook COO Sheryl Sandberg Revs Motor City Audience with Talk About Cars and Social Media

Cars matter, said Facebook COO and best-selling author Sheryl Sandberg as she spoke to a sell-out crowd of Adcraft Club of Detroit members [Friday] at Troy's San Marino Club. “I‘m proud to be an American when I'm in Detroit and see how this industry has transformed America,” she said, drawing parallels to just how much technology — and social media — have also changed the way people live and work. “Cars connect people. They take us places. They speak to new opportunities and new adventures. ... Cars don't just get us from point A to point B, they're part of our journeys.” The top question asked on Facebook, she said, is “What's the meaning of life? What's No. 2? It's what car should I buy?”
Source: Detroit Free Press
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Quotable

"NADA has come out with a fair-lending compliance program that has the potential to make significant inroads on the [fair credit] problem."  

   
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