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Inside this issue
500 Reasons Itís Great to Be an Auto Dealer
Auction Price Drops Expected to Slow This Month
Cox's Next Moves Are With Dealers in Mind
Why Mexico is Winning the Auto Jobs War
Honda Will Drop CNG Vehicles to Focus on Hybrids, EVs
Europe Car Sales Recovery Slows in May on Greek Woes
Ford, UAW Open Renovated Baseball Field in Detroit
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
500 Reasons Itís Great to Be an Auto Dealer

The 29th annual WardsAuto Dealer 500 bears out optimism surrounding today’s auto retailing industry.

To gauge the current health of the nation’s auto-retailing industry, consider that large dealer groups, with their potential for profit and growth, are on the top of billionaires’ shopping lists. Warren Buffet’s Berkshire Hathaway closed a deal in March to acquire the Van Tuyl Group, the largest privately held dealership chain with 81 stores in 10 states. Activist investor George Soros through representatives has expressed an interest in possibly acquiring dealerships. Bill Gates already owns nearly 12 % of AutoNation, Inc. Whether the issue is a multi-billion dollar acquisition, one dealer’s purchase of a store in a neighboring town, or simply growing an existing business, the prevailing wisdom is that the retail auto industry in 2015 is a good place to be.
Source: WardsAuto
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Auction Price Drops Expected to Slow This Month

Used vehicle deprecation in May accelerated at a quick pace after tax season came to a close, but price drops in the lanes are expected to slow this month. Last month saw depreciation ramp up to the fastest rate seen in more than six months. That’s according to the latest edition of Guidelines from NADA Used Car Guide, which stated prices of vehicles up to 8 years in age fell by 3.2 percent from April rates. This is the biggest drop on record since last October, when prices fell by 3.6 percent in the lanes.
Source: Auto Remarketing
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Cox's Next Moves Are With Dealers in Mind

Cox Automotive president Sandy Schwartz acknowledged tasks ahead are going to create a busy time for company executives, managers and staff during the remainder of the year as they finalize the $4 billion acquisition of Dealertrack Technologies, a development made public on Monday morning. However, Schwartz emphasized the focal point for meeting agendas, project lists and other endeavors consistently will be about what will help dealers become more profitable.
Source: Auto Remarketing

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Why Mexico is Winning the Auto Jobs War

The U.S., Canada and Mexico are united under NAFTA but fierce rivals in the boardroom to win automotive investment and jobs.

Mexico is the auto industry darling, Canada is struggling to retain a manufacturing footprint, and the U.S. is a house divided with most of the new automotive investment and jobs headed south of the Mason-Dixon line. The three countries are a united trading block under the North American Free Trade Agreement, or NAFTA, but they're fierce rivals in the boardrooms where auto executives decide where to invest in the latest equipment and additional jobs. The relative fortunes of the three countries have changed over the years, but right now, and for the foreseeable future, the farther south you are located, the better.
Source: Detroit Free Press
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Honda Will Drop CNG Vehicles to Focus on Hybrids, EVs

Honda Motor Co. is phasing out efforts to develop natural-gas powered vehicles and will instead focus on hybrids and electric vehicles. The automaker is developing a next-generation, two-motor hybrid system that will appear in a new Accord Hybrid due by 2018, and will offer a redesigned hydrogen-powered fuel cell vehicle next year, John Mendel, executive vice president of American Honda Motor Co., said at a news conference [Monday]. A new plug-in hybrid, a new battery-electric car and a three-motor hybrid system also are in the works, Mendel said, without giving details. Honda is "developing an extensive new generation of electrified vehicles" that should yield significant sales, Mendel said.
Source: Automotive News

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Europe Car Sales Recovery Slows in May on Greek Woes

The recovery in European car sales slowed down in May as buyers’ concerns about unemployment and the Greek sovereign debt crisis held back demand. Sales were also hit by fewer business days. Registrations in the EU and EFTA markets increased 1.4 percent to 1.15 million vehicles, industry association ACEA said in a statement. Five-month sales rose 6.7 percent to 6 million autos.
Source: Automotive News
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Ford, UAW Open Renovated Baseball Field in Detroit


Photo credit: Ford Motor Co.

Ford Motor Co. and the United Auto Workers on Monday celebrated the opening of William Clay Ford Field in Detroit’s Woodbridge neighborhood after they spent $1.8 million rehabbing the community baseball field. Updates included renovated pitching and batting cages, new bleachers, digitized scoreboard, landscaping, new lighting and restrooms. Attending the event were Ford Executive Chairman Bill Ford and his mother, Martha Firestone Ford, Mayor Mike Duggan, members of the Detroit Tigers and top labor negotiators for Ford and the UAW. The ballpark was dedicated to the late William Clay Ford, and his son said it was a great honor because his father was a competitive athlete.
Source: The Detroit News
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Quotable
"The health of the dealer industry is as good as I’ve ever seen it."

    -- Tim Lamb, president of the Tim Lamb Group, a dealership brokerage firm, commenting on the strength of the auto retailing industry, WardsAuto, June 16

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