View Mobile Version | View Web Version

SPONSORED BY
 
NADA.org
March 2, 2015 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
nada.orgAdvocacyAffiliates | Convention | Jobs | Programs | Publications | Services | Training

Inside this issue
Renault-Nissan Will Be No. 3 Globally in 3 Years, CEO Says
Forecast: February U.S. LV Sales Continue Gains
Dealers Urged to Exercise Caution When Reviewing Pay Stubs
FTC Stops Automobile Shipment Broker from Misrepresenting Online Reviews
GM Deals Another Blow to Ally Financial
Fiat Chrysler Recalls 467K SUVs for Fuel Pump Issue
Ultraluxury Brands on Course for Near 40% Rise by 2020
Toyota and General Motors Top J.D. Power Dependability Study
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Renault-Nissan Will Be No. 3 Globally in 3 Years, CEO Says

Renault-Nissan CEO Carlos Ghosn remains confident that by 2018 his alliance will rank as one of the world's three largest automakers. He sees the alliance rising from its current No. 4 ranking, even though last year it encountered big troubles in Russia and finished about 1.4 million vehicle sales behind No. 3 General Motors. During an interview with Automotive News Europe Editor Luca Ciferri, Ghosn, 60, also shared his views on retirement, the sales race and the challenge of hitting a combined 10 percent share for Nissan and Infiniti in the United States. Click here for more.
Source: Automotive News
Share: LinkedIn Twitter Facebook

[back to top]

Forecast: February U.S. LV Sales Continue Gains

A WardsAuto forecast calls for U.S. automakers to deliver 1.29 million light vehicles this month, marking the industry’s best February since 2002, on both a total-volume and daily-sales basis. The forecasted daily sales rate (DSR) of 53,859 over 24 days represents an 8.8% improvement from like-2014 (24 days) and a 22.2% month-to-month improvement over January (26 days). The report puts the seasonally adjusted annual rate of sales for the month at 16.7 million units, compared with year-ago’s 15.3 million and January’s 16.6 million mark.
Source: WardsAuto
Share: LinkedIn Twitter Facebook

[back to top]

Dealers Urged to Exercise Caution When Reviewing Pay Stubs

NADA has received reports of the possible creation of bogus pay stubs to support applications for vehicle financing.  Dealers are reminded to consistently apply their existing procedures to verify employment and income information and to seek additional verification of this information if concerns arise about its authenticity.
Source: NADA Legal and Regulatory Affairs

[back to top]

FTC Stops Automobile Shipment Broker from Misrepresenting Online Reviews

Company failed to disclose it gave discounts and awards to customer reviewers

AmeriFreight, an automobile shipment broker based in Peachtree City, Georgia, has agreed to a settlement with the Federal Trade Commission that will halt the company’s allegedly deceptive practice of touting online customer reviews, while failing to disclose that the reviewers were compensated with discounts and incentives. The FTC’s complaint marks the first time the agency has charged a company with misrepresenting online reviews by failing to disclose that it gave cash discounts to customers to post the reviews. “Companies must make it clear when they have paid their customers to write online reviews,” said Jessica Rich, Director of the FTC’s Bureau of Consumer Protection. “If they fail to do that – as AmeriFreight did – then they’re deceiving consumers, plain and simple.”
Source: FTC

[back to top]

GM Deals Another Blow to Ally Financial

Ally Financial Inc. said Friday that General Motors Co. has informed the lender it will now funnel all of its subsidized Chevrolet new-vehicle leases to its in-house GM Financial lending arm, representing the latest blow for Ally amid a series of changes in GM’s strategy to become a bigger auto lender on its own. Ally’s disclosure, made in its annual financial filing with the Securities and Exchange Commission, stated that GM informed Ally of its decision Friday. A GM spokesman said the switch—which will hit Ally’s auto-loan origination volumes hard—will take effect April 1. GM earlier in 2015 said it was moving its subsidized leasing business for GMC, Cadillac and Buick exclusively to GM Financial, ending several years of subsidized-leasing relationships between those brands and Ally. Although GM’s highest-volume brand, Chevrolet, wasn’t initially included in the move, a switch was expected to take place eventually.
Source: The Wall Street Journal
Share: LinkedIn Twitter Facebook

[back to top]

Fiat Chrysler Recalls 467K SUVs for Fuel Pump Issue

Fiat Chrysler Automobiles NV said Friday it will recall 467,480 SUVs worldwide to install a new electronic circuit to address fuel pump issues — the latest recall for the issue that comes four months after the U.S. government opened an investigation. The new recall comes six months after a prior recall for the same issue and covers 2012-13 Dodge Durango full-size SUVs and 2011 Jeep Grand Cherokee mid-size SUVs equipped with 3.0-liter diesel engines sold outside North America. The recall covers about 338,216 vehicles in the U.S.; 18,991 in Canada; 10,829 in Mexico and 99,444 outside the NAFTA region.
Source: The Detroit News

Related Stories:


Share: LinkedIn Twitter Facebook

[back to top]

Ultraluxury Brands on Course for Near 40% Rise by 2020

Ultraluxury brands Bentley, Lamborghini, Rolls-Royce and Maserati are enjoying unprecedented success as all four set sales records in 2014. Strong demand for those brands -- as well as for Ferrari and Aston Martin -- has led forecasters to predict that overall global sales in the segment will grow by nearly 40 percent in the next five years. Boosting sales are new models, improved economic conditions in the U.S. and Europe, and a rising number of superwealthy car buyers.
Source: Automotive News
Share: LinkedIn Twitter Facebook

[back to top]

Toyota and General Motors Top J.D. Power Dependability Study

The Lexus brand, Toyota’s luxury division, aced the latest J.D. Power Vehicle Dependability Study for 3-year-old cars, posting a score for “problems per 100 vehicles” that a few years ago would have been a great score for a brand-new vehicle. Lexus was No. 1 at 89 reported problems per 100, the only brand that scored fewer than one problem per vehicle on average. A low score is best. According to J.D. Power, Westlake Village, Calif., it was the fourth year in a row Lexus was No. 1. General Motors also did well in the survey. GM and Toyota each won seven segment awards for individual models.
Source: Forbes
Share: LinkedIn Twitter Facebook

[back to top]

More Articles
 
Quotable

"The 10 percent that I set up for the United States is in the cards. It's planned. It's going to be delivered."

   
-- Renault-Nissan CEO Carlos Ghosn, commenting on the automaker's goal to reach a 10 percent market share in the U.S., Automotive News, March 2

Sponsored by


NADA Market Beat
2014 Light-Vehicle Sales Highest Since 2006
Chairman's Message
Commentary: Another NADA Convention for the Ages
Videos

NADA Convention: Jeb Bush


NADA Convention: 2015 TIME Dealer of the Year


Get the Facts: Warranty Work, Safety Recalls and Service


Get the Facts: Local Economic Benefits of the Dealer Franchise System    


Get the Facts: The Benefits of Price Competition  


Get the Facts: Why Dealer Franchise Laws?  


Get the Facts: The Benefits of Franchised Auto Dealers

NADA Webinars
All webinars will be held at 1 p.m. ET unless otherwise noted.

-- March 4: Branding, Content, and Website Presence ROI

-- March 25: Shoppers Are Begging You For It!

NADA Foundation News
ADESA Auction Raises $40,000 for Veterans’ Canine Companions

Hollins University Receives Grant from the NADA Foundation

Bradshaw and Family Support Local Organizations through the NADA Charitable Foundation

  
 
Search Back Issues | Unsubscribe | Subscribe | Manage your subscription | email us
NADA For more information on NADA, visit www.nada.org or contact NADA, 8400 Westpark Drive, McLean, VA 22102. This email may contain an advertisement of NADA products and services. Any opinions or statements contained herein do not necessarily reflect the views of NADA. Factual errors are the responsibility of the listed publication. If you are a franchised new-car or -truck dealer and would like to become a member of NADA, please visit the Join NADA section of www.nada.org. Questions or comments concerning NADA Headlines content may be directed to publicaffairs@nada.org .