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November 10, 2015 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
New Video: Countdown to AutoConference LA
NADA Director Michelle Primm and Ford Motor Credit's Joy Falotico Honored by Automotive News
VW Struggles to Keep Dealers Happy as Scandal Widens Worldwide
Conservative Group Launches Ad Campaign Attacking Consumer Finance Watchdog
Auto Industry Shift to Aluminum Slower Than Expected, Novelis Warns
Will There Be 40 Million Used Sales This Year?
Congress' Car Dealers Offer Boehner Shopping Advice
Top Stories
New Video: Countdown to AutoConference LA

Audi's Scott Keogh and Toyota's Bill Fay to Keynote NADA / J.D. Power Conference in Los Angeles on Nov. 17

Next week, attention of the global auto industry and media will shift to Los Angeles—the host city of the first major North American auto show of the season. One of the major industry and most informative events ahead of press days at the Los Angeles Auto Show focusing on auto retailing is AutoConference LA, which is presented by NADA and J.D. Power. The half-day conference begins at 12 p.m. PST on Tuesday, Nov. 17, and will be held at the JW Marriott at L.A. LIVE.



Toyota’s Bill Fay and Audi’s Scott Keogh are the keynote speakers. Fay, Toyota division group vice president and general manager at Toyota Motor Sales U.S.A., will discuss the future of mobility. Keogh, president of Audi of America, will discuss the era of disruption and rapid technological advancement in the auto industry, which Audi views as an opportunity rather than a threat.

Steven Szakaly, NADA chief economist, will provide an economic overview and sales forecast for 2016 and discuss the shift in consumer demographics from baby boomers to millennials and its impact on the market. He will also discuss the findings of an NADA-commissioned McKinsey & Company study that can serve as a guide for dealers and automakers to achieve greater collaboration in improving online retailing performance and customer satisfaction in the digital age. John Humphrey, senior vice president of the global automotive practice at J.D. Power, will provide key insights into trends impacting the U.S. and California auto markets.

Alexi Venneri, CEO of Digital Air Strike, will highlight the growing impact of social media on the car shopping experience; AutoNation’s Marc Cannon and Famous Rhodes will discuss the dealership group’s online car buying website, AutoNation Express; and Steve Lind, president of Kelley Blue Book, will participate in a panel session on consumer expectations in online retailing.

Other speakers include Bill Fox, NADA chairman; Bob Smith, executive director of the Greater Los Angeles Auto Dealers Association; Finbarr O’Neill, J.D. Power president; and Peter Welch, NADA president.

Click here to view the video. For more information or to register, visit www.autoconferencela.com. Seating is limited.
Source: NADA / J.D. Power


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NADA Director Michelle Primm and Ford Motor Credit's Joy Falotico Honored by Automotive News

Automotive News recognizes executives' accomplishments in special issue: 100 Leading Women in the North American Auto Industry

Automotive News has named 100 Leading Women in the North American Auto Industry. The group of influential executives is highlighted in Monday's special edition of Automotive News and were honored at a gala celebration last night in Detroit. The list of 100 leading women recognizes leaders in the automotive field – those who make major decisions and have significant influence at their companies. The 2015 class emerged from a months-long nomination and judging process that attracted hundreds of entries from the United States, Canada and Mexico. This year's honorees come from 54 companies and 14 disciplines — from manufacturers to engineers, dealer principals to designers. A complete list of all four classes of 100 Leading Women in the North American Auto Industry is available at www.autonews.com/leadingwomen.
Source: Automotive News

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VW Struggles to Keep Dealers Happy as Scandal Widens Worldwide

Volkswagen AG’s goodwill offer of $1,000 to the owners of cars caught in the emissions scandal comes as the company wages a behind-the-scenes effort to soothe another powerful constituency: its U.S. dealers. The German company is offering cash and no-interest loans to its roughly 650 dealerships that are stuck with cars that can’t be sold but are taking up precious space in their lots. It is also encouraging dealers to offer pre-scandal prices on trade-ins and promising to make up the difference in value. “They have to keep those dealers on board, afloat and as happy as they can, because the dealers are going to be on the front line whenever there’s a fix for this problem,” said Michelle Krebs, an analyst with Autotrader.com, an online auto dealer marketplace. “Dealers are absolutely critical when these bad things happen.”
Source: Bloomberg

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Conservative Group Launches Ad Campaign Attacking Consumer Finance Watchdog

Most Americans have probably never heard of the Consumer Financial Protection Bureau. Many will learn about it on Tuesday night when millions tune in to watch the next Republican presidential debate. The American Action Network, a right-leaning advocacy group that has spent heavily to elect Republicans, plans to blanket the Fox Business airwaves during the debate, which is co-sponsored by The Wall Street Journal, with a new ad criticizing the agency created in the wake of the 2008 financial crisis.

The spot is set in a cavernous Soviet-style building in which rows of uniformed bureaucrats stamp “denied” on one loan application after another and a long line of borrowers receive the news. Red banners at the back of the room show pictures of CFPB director Richard Cordray and Democratic Massachusetts Sen. Elizabeth Warren, who helped launch the government-sponsored consumer watchdog agency. “They call it CFPB, Washington’s latest regulatory agency, designed to interfere with your personal financial decisions – that car loan you needed, your mortgage, that personal loan,” the narrator says, as borrowers received their rejected loan applications. “With the consumer financial protection bureau, those who need help the most are denied.” The CFPB was created to protect consumers from financial industry practices that could saddle them with debts they cannot pay and that make it difficult for borrowers to know what they are agreeing to.
Source: The Wall Street Journal

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Auto Industry Shift to Aluminum Slower Than Expected, Novelis Warns

Novelis Inc., the world's largest rolled aluminum producer, warned on Monday that plans to shift rolling mill capacity to automotive body sheet are progressing slower than anticipated as automakers prove slow to follow Ford's lead in widespread use of the metal. Novelis CEO Steve Fisher said the industry is going through a "digestion period" after Ford Motor Co. adopted an aluminum body in its top-selling F-150 pickup model. Other automobile manufacturers have not followed with similar major commitments for leading models.
Source: Reuters
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Will There Be 40 Million Used Sales This Year?

You can probably expect nearly 40 million used-car sales this year, according to the latest Manheim Used Vehicle Value Index report. Citing NADA data, Cox Automotive chief economist Tom Webb said in analysis accompanying the report that that growth in used sales has accelerated since the year’s outset. The full-year sum, he said, should “approach 40 million.” Giving some additional context, Webb noted: “Part of this is ‘forced churn’ created by soaring new vehicle sales, but it is not churn conducted at a loss. Indeed, net profit margins are strong.”
Source: Auto Remarketing
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Congress' Car Dealers Offer Boehner Shopping Advice

On his way out the door, former Speaker John A. Boehner proclaimed one of his top post-retirement priorities was buying a new set of wheels, and Congress’ car salesmen are lining up to close the deal. “Red Mustang GT convertible, that’s my recommendation for the speaker,” said Rep. Scott Rigell, R-Va., who built his business acumen as the owner of Freedom Automotive, operating Ford and Volvo dealerships in Virginia’s 2nd District. The Ohio Republican spent nine years being driven around by Capitol Police. House Republicans provided him with a golf cart as a retirement gift. But Boehner said during exit interviews he looked forward to shopping for a new automobile. Rep. Mike Kelly, R-Pa., who took ownership of his father’s Chevrolet-Cadillac dealership in the mid-1990s, said Boehner needs somebody he can trust when it comes to solving his transportation needs. “I just happen to be that guy,” Kelly told HOH. “My whole life’s been about selling cars. I think he knows me pretty well, so I think I’d be the guy to give him the best information.”
Source: Roll Call
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Quotable
"Dealers are absolutely critical when these bad things happen."

    -- Michelle Krebs, an analyst with Autotrader.com, on the role of VW dealers during the emissions scandal, Bloomberg, Nov. 9

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