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September 2, 2015 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Best August Auto Sales Since 2003 Surprise Industry
Register Now for NADA's 'The Roadmap to Becoming a Millionaire Car Salesman' Webinar
U.S. Says 19 Million Takata Air Bag Inflators Still Need Repair
Toledo Lands Wrangler, Will Lose Cherokee
Volkswagen to Extend CEO Winterkornís Contract Through 2018
Auto Dealer Raymond Ciccolo is a 'Lucky Man'
Top Stories
Best August Auto Sales Since 2003 Surprise Industry

Ford sales up 5.4% in August; Fiat Chrysler up 1.7% and GM down 1% even without the benefit of Labor Day weekend sales

U.S. auto sales beat all expectations in August, coming in at the highest sales pace since July 2005 despite having one less selling day than last year, a quirk in the calendar that pushed Labor Day into September, and a volatile stock market as the month was wrapping up. Total sales of 1.6 million were up half a percent from a year ago and came in at a seasonally adjusted rate of 17.8 million units, compared with 17.3 million units a year ago, according to Autodata Corp. It was the best August since 2003 and defied the expectations of virtually every forecasting company, largely because last year's August tally had the benefit of the Labor Day holiday.
Source: Detroit Free Press

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Register Now for NADA's 'The Roadmap to Becoming a Millionaire Car Salesman' Webinar

NADA University Online will host the webinar "The Roadmap to Becoming a Millionaire Car Salesman" today, Sept. 2 at 1 p.m. ET. The free webinar, presented by Sean Bradley from Dealer Synergy, will discuss the eight ways to sell a car and maximize everyday sales opportunities. Bradley will cover how to make as much money as possible and how to take control of a dealership's financial landscape through projection and forecasting tools. Click here to register.
Source: NADA University Online
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U.S. Says 19 Million Takata Air Bag Inflators Still Need Repair

U.S. safety regulators on Tuesday said that about 19 million defective Takata air bag inflators remain installed in U.S. vehicles, and that no root cause to the problem has been found. About 19.2 million vehicles containing a total of 23.4 million air bag inflators made by 11 automakers have been recalled, a NHTSA official said. The inflator figure is higher because about 4 million vehicles have defective Takata air bag inflators on both driver and passenger sides, the National Highway Traffic Safety Administration official said.
Source: CNBC

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Toledo Lands Wrangler, Will Lose Cherokee

After nearly a year of uncertainty, it became clear Tuesday that Toledo will keep the Wrangler but is likely to lose the Jeep Cherokee

Fiat Chrysler Automobiles has found a way to keep the iconic Jeep Wrangler in Toledo, but it involves the loss of the next-generation Jeep Cherokee. The automaker plans to move production of the Wrangler to the north side of its Toledo Assembly Complex, where the Cherokee is made, and launch the Wrangler there. It also has plans to produce a Wrangler-based pickup in Toledo. That means the company must find a new home for the Cherokee, one of the automaker's most popular vehicles.
Source: Detroit Free Press
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Volkswagen to Extend CEO Winterkornís Contract Through 2018

Volkswagen AG plans to extend Chief Executive Officer Martin Winterkorn’s term through the end of 2018, a victory for the carmaker’s top manager after he clashed with former Chairman Ferdinand Piech earlier this year. The supervisory board will vote on the proposal on Sept. 25, the Wolfsburg, Germany-based company said Wednesday in a statement. VW’s current contract with Winterkorn, 68, is scheduled to expire in December 2016. Under Winterkorn’s leadership, VW is closing in on Toyota Motor Corp. as the world’s biggest automaker, with the German manufacturer overtaking its Japanese rival in sales in the first half of 2015.
Source: Bloomberg
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Auto Dealer Raymond Ciccolo is a 'Lucky Man'

If Hollywood ever decides to film a sequel to its classic “It’s a Wonderful Life,” Cambridge native Raymond Ciccolo should have the leading role. The 77-year-old is the president of Village Automotive Group, which encompasses eight dealerships selling eight different automotive brands: Volvo, Porsche, Audi, Nissan, Honda, Hyundai, Saab, and Cadillac. But for the auto baron who lights a room with more energy than an Eversource generator, his real jolt is the benevolent arm of his business. The well-funded Ciccolo Family Foundation, which he created 20 years ago, is the sponsor of many charitable endeavors that include orphanages in China and Haiti, the Global Smile Foundation (25th year) in Ecuador, a local scholarship to his alma mater Suffolk University, and another in the works for Northeastern University, where he received his MBA. “It’s a gift to give back,” Ciccolo said.
Source: Boston Globe

Editor's note: Raymond Ciccolo is a trustee of the NADA Foundation.
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Quotable
"In spite of a tough 2014 comparison and extreme stock market volatility, our dealer’s competitive spirit kicked in and propelled us to our 65th-consecutive month of year-over year sales increases."

   --  Reid Bigland, head of U.S. sales for FCA, commenting on strong August auto sales, Detroit Free Press, Sept. 1

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