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Inside this issue
GM Earns $1.38 Billion in 3Q, Beats Estimates
NHTSA Apologizes for Mishandling Takata Airbag Recall Information
Register Now for NADART's INSIGHT Forum in Los Angeles
Toyota Says Potential Mexico Plant Still Far from Approval
Honda, After 5th Fit Recall, Appoints First Quality Czar; Top Execs Take Pay Cut
Ford to Debut Collision Avoidance Tech
Little League Star Mo'Ne Davis Stars in Chevy Ad
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
GM Earns $1.38 Billion in 3Q, Beats Estimates

General Motors Co. on Thursday posted third-quarter earnings up 98 percent from a year ago to $1.38 billion, bolstered by strong sales in its North America and China regions and higher average sales prices. The company said earnings per share totaled 81 cents in the quarter. When factoring in special items that cut earnings per share by 16 cents, GM earnings hit 97 cents a share, beating analysts' estimates for 95 cents a share. In the quarter a year ago, GM had special items of 51 cents that cut into its profit.
Source: The Detroit News

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NHTSA Apologizes for Mishandling Takata Airbag Recall Information

The National Highway Traffic Safety Administration's top official apologized late Wednesday for publishing inaccurate information in its Monday warning about defective Takata airbags that may explode and for technical glitches that made its recall search page unavailable for much of the week. In a statement, David Friedman, NHTSA's deputy administrator, also said the agency has “identified the problem” affecting Takata airbags and is making sure cars are recalled in parts of the country “where there is a demonstrated risk.” The agency has recently focused its Takata efforts on high-humidity regions, including U.S. states along the Gulf of Mexico. Meanwhile, the situation by Wednesday had attracted added scrutiny from lawmakers seeking to review the progress of NHTSA's investigation into Takata, and from federal prosecutors who, according to The Wall Street Journal, are now investigating the Japanese supplier.
Source: Automotive News
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Register Now for NADART's INSIGHT Forum in Los Angeles

NADART and NADA will host the INSIGHT Forum on Nov. 18 from 7:45-11:30 a.m. at the LA Hotel Downtown. The complimentary forum, which immediately precedes the NADA/J.D. Power Western Automotive Conference, will explore the auto industry's financial trends. Attendees will hear from industry experts including John Casesa of Guggenheim Partners, Summer Conley of Drinker Biddle, and Christopher Dionot of the Planning Solutions Group. For more information and to register, click here.
Source: NADART

Editor's note: The NADA/J.D. Power Western Automotive Conference will be held in Los Angeles on Nov. 18, which precedes press days at the Los Angeles Auto Show. For more information or to register, click here.

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Toyota Says Potential Mexico Plant Still Far from Approval

Toyota Motor Corp., the last major carmaker without a high-volume assembly plant in Mexico, said the group assessing whether to build a factory there is far from getting clearance from top management. “There is a team studying it, but I'll be honest with you, it's still far from being an approved project,” Steve St. Angelo, head of Toyota's Latin American operations, told reporters today in Tokyo. Low labor costs and favorable trade accords with the U.S. and some Latin American countries are luring more foreign auto producers to Mexico.
Source: Bloomberg
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Honda, After 5th Fit Recall, Appoints First Quality Czar; Top Execs Take Pay Cut

Honda Motor Co., after announcing a fifth recall of the redesigned Fit in just 12 months, has taken the unprecedented step of appointing its first quality czar to clamp down on problems. The company's top executives will also receive pay cuts for three months to take responsibility for the recall-plagued car. The Fit was recalled Oct. 23 for a fifth time since its 2013 debut. The latest recall does not cover Fits sold in the U.S. The company also said it is reviewing quality processes worldwide, in a move that may delay product launches, including the introduction of the HR-V compact crossover to be built at Honda's new pant in Mexico. Honda President Takanobu Ito, who will take a 20 percent pay cut during the three-month period, appointed Koichi Fukuo as the company's newly christened executive in charge of quality reform. The changes come as Honda grapples with spiraling problems that have bruised its once sterling reputation for quality.
Source: Automotive News
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Ford to Debut Collision Avoidance Tech

Ford Motor Co. will later this year unveil a new driver-assist feature that could help prevent pedestrian collisions. Called Pre-Collision Assist with Pedestrian Detection, the feature uses a radar on the bumper and a camera on the windshield to scan the roadway up to 200 meters ahead and warn the driver if a collision is imminent. The technology can automatically brake the car if the driver isn't paying attention, a first for Ford. It will debut on the 2015 Ford Mondeo in Europe on sale later this year, and will make its North American debut next year, although Ford won't say what vehicle it will be on.
Source: The Detroit News

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Little League Star Mo'Ne Davis Stars in Chevy Ad

Mo'Ne Davis, the 13-year-old Philadelphia girl featured on the cover of Sports Illustrated this past summer's Little League World Series, is the star of a new Chevrolet ad that premiered during Tuesday night's World Series opening game. Noted film director Spike Lee and Spike DDB, Chevrolet's ad agency of record, developed a 10-minute documentary, "I Throw Like a Girl," which features interviews of Davis, her family, teammates and coaches. "Mo'ne truly embodies the spirit at the heart of baseball, and she has been a powerful inspiration to boys and girls everywhere," said Paul Edwards, a Chevrolet marketing vice president.
Source: Detroit Free Press
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Quotable
"Strong global sales and growing margins in North America and China helped GM deliver very solid third quarter results."

   
-- GM CEO Mary Barra, commenting on the automaker's 3Q earnings, The Detroit News, Oct. 23

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