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Inside this issue
Honda May Face Record U.S. Fine Over Unreported Deaths
NADART Named Preferred Retirement Plan Provider for the Montana Auto Dealers Association
Used-Car Prices Dropping, Not Crashing
Hyundai-Kia Says it Will Sell Record 8 Million Vehicles Globally in 2014
GM Executives Help Scour Social Media to Spot Vehicle Flaws
Lexus Looks to Woo Younger Buyers with Performance Cars
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Honda May Face Record U.S. Fine Over Unreported Deaths

Honda Motor Co. said it failed to report more than 1,700 claims of injury or death involving its cars to U.S. regulators, a violation that would be one of the biggest in history and could lead to a fine of $35 million. In a synopsis of an internal review filed with the National Highway Traffic Safety Administration, Honda blamed the underreporting on “inadvertent data entry or computer programming errors” that spanned 11 years. NHTSA hasn’t made the audit documents public yet as it continues an investigation.
Source: Bloomberg

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NADART Named Preferred Retirement Plan Provider for the Montana Auto Dealers Association

NADART and the Montana Automobile Dealers Association (MTADA) today announced a new strategic partnership. “We are proud to announce NADART as MTADA’s preferred retirement plan provider” said Bruce Knudsen, MTADA executive vice president. “We will work together to provide this meaningful benefit to our new-car and -truck dealers in Montana. Their support will benefit our members and their employees.”

NADART, the retirement plan and financial services division of the National Automobile Dealers Association, provides retirement plan administration, recordkeeping and investment services specifically designed for automobile dealers and their employees. "This preferred retirement plan provider relationship will allow NADART and MTADA to work together to provide customized retirement plan products, services and education,” said Betsy Piper/Bach, NADART vice president and chief operating officer.

Montana is the 14th state dealer association to have recently partnered with NADART. The other state associations are Alabama, California, Colorado, Georgia, Illinois, Louisiana, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina and Utah.
Source: NADART
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Used-Car Prices Dropping, Not Crashing

A drop in used-car prices doesn't mean they'll crash and burn, say automotive remarketing experts at a conference [in Las Vegas]. Chatter of a potential crisis in the pre-owned vehicle market is exaggerated, says Jonathan Banks, a senior analyst for the National Automobile Dealers Association. “We're talking about a soft landing, not a collapse like housing prices dropping 35% during the recession,” he says. “But people will be paying lower prices for used cars.” It ends what was quite a run. Used-car prices increased 20% since 2007. It was the same old story: high demand meets low supply.
Source: WardsAuto
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Hyundai-Kia Says it Will Sell Record 8 Million Vehicles Globally in 2014

Hyundai Motor Co. and Kia Motors Corp. said better-than-expected sales in Brazil, China and India will help them sell a record 8 million vehicles this year, even as a stronger won erodes profitability. The companies' global sales will beat their 2014 sales target of 7.86 million vehicles after selling 6.55 million units in the first 10 months, the umbrella Hyundai Motor Group said in an emailed statement today. Demand for SUVs including the Tucson and Santa Fe has helped drive deliveries. In the U.S., Hyundai-Kia sales are up 4 percent to 1,097,250 vehicles through October. Hyundai brand sales are up 1 percent while Kia sales are up 7 percent.
Source: Bloomberg
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GM Executives Help Scour Social Media to Spot Vehicle Flaws

Amid the worst safety-defect crisis in its history, General Motors executives and staff have taken to social media to find customer complaints and identify quality issues long before they become a crisis. GM, which faces lawsuits for dragging its feet before recalling a faulty ignition switch that's connected to at least 35 deaths, is now mining every source of information to head off another crisis, President Dan Ammann said in an interview. The company has social-media managers, customer service staff and even executives at the highest rank trying to find early warning signs from its vehicle owners, he said.
Source: Bloomberg
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Lexus Looks to Woo Younger Buyers with Performance Cars

As it grows another year older, Lexus hopes to reach an increasingly younger customer. Toyota Motor Corp.’s luxury brand launched its first vehicle — the LS 400 — 25 years ago with a focus on Baby Boomers. Now that those buyers are reaching retirement age, the brand is seeking a younger Gen X and Gen Y audience through edgier commercials and performance-focused vehicles. Lexus recently started airing commercials for its 306-horsepower IS 350 sports car featuring shirtless men and seductive women, and tabbed “Hunger Games” actor Wes Bentley to hawk its new RC Coupe. And next month, the brand will start selling a $35,000 NX — its first offering in the hip, hot compact utility segment — to appeal to singles and young couples in their 30s and 40s.
Source: The Detroit News
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Quotable

"We have to identify issues before they become a problem."

    -- GM President Dan Ammann, commenting on the automaker's use of social media to identify customer complaints and quality issues, Bloomberg, Nov. 24

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