View Mobile Version | View Web Version

SPONSORED BY
 
NADA.org
June 17, 2015 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
nada.orgAdvocacyAffiliates | Convention | Jobs | Programs | Publications | Services | Training

Inside this issue
NADA Responds to Inaccurate and Irresponsible New York Times Editorial
Senate Panel Set to Hold Hearing on Defective Airbags
Top Steelmaker Fights for Autos After Ford Defects to Aluminum
North American Light-Vehicle Production Down 2.3% in May
Lexus, Trailing in Sales, Leads in Luxury Registrations
Hyundai to Hire Ex-Bentley Designer Donckerwolke to Succeed Schreyer, Report Says
GM Uses Old Volt Batteries to Power Office Building
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
NADA Responds to Inaccurate and Irresponsible New York Times Editorial

On Tuesday, June 16, NADA President Peter Welch sent the following letter to the editor of The New York Times in response to a Sunday editorial, "Putting an End to Abusive Car Loans". The editorial contained false statements and discredited rhetoric about auto finance.

Honesty Matters at the Dealership. It Should Matter to The New York Times.

Consumers have a number of rights when it comes to buying a car. They have the right to negotiate, they have the right to look for a better deal wherever it exists, and they have the right to choose the financing that is best for them. These are real financial advantages that save Americans billions of dollars.

Washington, however, wants to take those rights away. Washington wants to limit consumer choice and deny Americans the ability to benefit from the discounted financing rates that are often available at their local dealerships. It doesn't take a study or an expert to see how wrong that is.

Consumers also have the right to something just as important – the truth. But they were denied that on Sunday, when a Times editorial, "Putting an End to Abusive Car Loans," chose to ignore the truth about a now-thoroughly debunked statistic claiming that Americans lose – rather than save – money when they finance vehicle purchases through their local dealerships.

Even the Center for Responsible Lending – the original source of the figure used by the Times – has acknowledged that this number is flawed. And numerous sources have explained in detail how CRL's claims about auto financing are patently false.

For reasons they did not explain, the editorial board of the Times chose to gloss over this reality.

Consumers deserve to know why. They deserve to know that when they're getting information about how Washington wants to involve itself in auto financing, they're getting facts. They deserve to know that they're being told the truth.

Americans take the process of buying a car very, very seriously – and rightly so. In this instance, The New York Times could stand to learn a thing or two from many of its readers.

– Peter Welch, President, National Automobile Dealers Association

[back to top]

Senate Panel Set to Hold Hearing on Defective Airbags

The Senate Commerce Committee next week will hold a new hearing on the record-setting recall of 33.8 million vehicles by 11 automakers with potentially defective Takata airbags. In a notice sent to Senate offices late Tuesday, the Senate Commerce Committee said it will hold a June 23 hearing titled, “Update on the Recalls of Defective Takata Air Bags and NHTSA’s Vehicle Safety Efforts. The hearing’s witnesses are expected to include officials from the National Highway Traffic Safety Administration, Transportation Department's Office of Inspector General, Takata and unnamed automakers. It comes as NHTSA says it is taking charge of the Takata recalls by using for the first time authority it received from Congress in 2000.
Source: The Detroit News

Related Story:


Share: LinkedIn Twitter Facebook

[back to top]

Top Steelmaker Fights for Autos After Ford Defects to Aluminum

When Ford Motor Co. confirmed last year it would build its most popular pickup truck using aluminum, the automaker’s steel supplier was caught flat-footed. Now ArcelorMittal, the top worldwide supplier of steel for autos, has built a two-pronged response to try to head off defections by other customers including General Motors Co., Fiat Chrysler Automobiles NV and Japan’s biggest carmakers. First, the Luxembourg-based company developed lighter steel that’s as strong as earlier products. Second, it embedded almost three dozen engineers with car companies around the world so there are fewer surprises on vehicle redesigns, according to Brian Aranha, head of ArcelorMittal’s automotive business.
Source: Bloomberg
Share: LinkedIn Twitter Facebook

[back to top]

North American Light-Vehicle Production Down 2.3% in May

A sharp drop in Canadian output outweighed gains in the U.S. and Mexico.

North American automakers built 1,471,241 light vehicles in May, 2.3% below same-month 2014. Canada saw a big decline in production, dropping 20.7% from year-ago to 177,557 units. All automakers in the country posted negative year-over-year results, with FCA and Ford recording double digit declines. Over the first five months of the year, output was down 8.9%. Mexican plants delivered 286,592 LVs, a record high for May and third-best of any month, although just 0.1% above last year’s 286,193 tally. Year-to-date, production grew 8.6%. Light-vehicle builds in the U.S. rose 1.2% to 1,007,092 units. The January-May total was 2.0% higher than year-ago.
Source: WardsAuto
Share: LinkedIn Twitter Facebook

[back to top]

Lexus, Trailing in Sales, Leads in Luxury Registrations

Toyota Motor Corp.’s Lexus is ahead of BMW and Mercedes-Benz in U.S. registrations of luxury vehicles this year through April. The results are a reverse of the order based on the brands’ sales figures, reinforcing that 2015 should be a tight, three-way race. Those registration numbers show 106,549 for Lexus, 103,581 for the BMW brand and 103,393 for Mercedes, according to IHS Automotive, which collects the data from state records.
Source: Bloomberg
Share: LinkedIn Twitter Facebook

[back to top]

Hyundai to Hire Ex-Bentley Designer Donckerwolke to Succeed Schreyer, Report Says

Hyundai Motor will hire Volkswagen Group veteran Luc Donckerwolke to succeed Peter Schreyer as head of design for the Hyundai and Kia brands, a report said. Hyundai declined to comment on the report but Automotive News Europe sources confirmed that the Belgian designer quit as styling chief at VW Group's Bentley brand earlier this month to take up the "offer of a lifetime" at Hyundai. Like Schreyer, Donckerwolke, 49, worked as a designer for Audi during his 23-year career with VW and was also head of design at the group's Lamborghini and Seat brands.
Source: Automotive News

Related Story:


Share: LinkedIn Twitter Facebook

[back to top]

GM Uses Old Volt Batteries to Power Office Building

General Motors said it is using old batteries from its first-generation Chevrolet Volt extended-range electric car for secondary purposes including powering an office building. The company, which is close to launching the second-generation Volt hybrid plug-in car, said [Tuesday] five used batteries from the first-generation Volt are powering the General Motors Enterprise Data Center at its Milford Proving Ground.
Source: Reuters
Share: LinkedIn Twitter Facebook

[back to top]

More Articles
 
Quotable
"Consumers deserve to know that when they're getting information about how Washington wants to involve itself in auto financing, they're getting facts. They deserve to know that they're being told the truth."

    -- NADA President Peter Welch, in a June 16 letter to the editor of The New York Times.

Sponsored by

Chairman's Message
Commentary: Price Competition Among Dealers Benefits Car Buyers
Videos

NADA University Online: The Next Generation 
(NADA-TV)


Get the Facts: The Benefits of Franchised Auto Dealers


NADA Foundation: On the Go(Pro) with Canine Companions

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

-- June 18: Planned Transition vs. Sudden Change

-- June 24: Winning with the Next Generation

-- July 1: Using Technology to Sell the Way Consumers Want to be Sold



 

NADA Foundation News
Pacific Lutheran University Receives NADA Foundation Grants
 
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 .