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Inside this issue
JD Power-LMC Forecast U.S. November Auto Sales Up One Percent
New U.S. Auto Loans Are Highest in Nine Years, New York Fed Says
Feds: Chrysler Must Expand Air Bag Recall, Speed Repair
General Motors Previews Its New System for Hands-Free Driving
Buy a Car and It Snows Six Inches on Christmas, Dealership Pays You Back
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Top Stories
JD Power-LMC Forecast U.S. November Auto Sales Up One Percent

U.S. auto sales will rise 1 percent to 1.26 million vehicles in November, the highest for the month since 2001, according to a forecast jointly developed by J.D. Power and LMC Automotive. LMC Automotive on Tuesday also forecast full-year 2014 U.S. auto sales at 16.4 million vehicles, up about 5 percent from 2013. LMC Automotive also sees 2015 U.S. auto sales at 16.8 million vehicles, which would be 61 percent higher than 2009, when U.S. auto sales hit their lowest rate since World War II, adjusted for population. U.S. consumers will spend an estimated $33.3 billion on new vehicles in November, J.D. Power said.
Source: Reuters

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New U.S. Auto Loans Are Highest in Nine Years, New York Fed Says

Americans took out the most auto loans in nine years during the third quarter, according to the Federal Reserve Bank of New York’s quarterly Household Debt and Credit Report. Auto loan origination was $105 billion, the highest amount since the third quarter of 2005. That’s in line with industry reports of stronger U.S. car sales, boosting the contribution of consumer spending to third-quarter U.S. growth. Auto loan balances have now risen for 14 straight quarters, the New York Fed said.
Source: Bloomberg
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Feds: Chrysler Must Expand Air Bag Recall, Speed Repair

The National Highway Traffic Safety Administration told Chrysler Group LLC Tuesday it must expand its recall of 371,000 vehicles announced in June for risk of exploding airbags to a broader geographic area — and must alert owners by Dec. 1. It's the latest demand by the auto safety agency that the unit of Fiat Chrysler Automobiles NV do more to address safety concerns. It comes just days after the agency told Chrysler to move faster to fix 1.56 million Jeep SUVs at risk for rear fires. In a letter to Chrysler CEO Sergio Marchionne obtained by The Detroit News, NHTSA deputy chief David Friedman criticized the limited "geographic scope and the slow pace of the recall."
Source: The Detroit News

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General Motors Previews Its New System for Hands-Free Driving

General Motors is putting the final touches on a technology that allows the next generation of cars to practically drive themselves. Current car models include technology that can alert a driver when he or she is drifting into another lane and allows cars to parallel park themselves. GM's new innovation, called Super Cruise, goes a step further: It keeps you in the lane by driving for you. It is one of a flurry of self-driving packages either already on the market or being readied by car makers from Detroit to Germany.
Source: CBS Interactive
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Buy a Car and It Snows Six Inches on Christmas, Dealership Pays You Back

Deals on flat screen TVs and fancy electronics are a staple of luring shoppers into stores on Black Friday, but what about a free ride? A Downers Grove (Ill.) Buick dealership is offering an unusual gamble for shoppers if they're willing to bet on Chicago's most unpredictable element: the weather. Bill Kay Buick GMC is calling its promotion a White Friday sale. Anyone who comes into its store Friday or Saturday and buys a new Buick or GMC vehicle gets their money back if it snows more than six inches on Christmas. The company says it anticipates $1 million in sales on Black Friday and that its insurance company will be the one to reimburse buyers if enough snow falls.
Source: Chicago Tribune
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Quotable

"The 2014 close is shaping up as expected with November looking like another strong performance."

   
-- Jeff Schuster, vice president of forecasting at LMC, Automotive News, Nov. 25

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