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November 12, 2015 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Holiday Car Deals Move Earlier: 4 Things to Consider
Millennials' Appetite for Auto Loans Rising
Compliance Starts with the Dealer
VW Dampens Hopes for Quick Results in Emissions Probe
L.A. Show to Get Global Debuts from Honda, Jaguar Land Rover, Mitsubishi
Top Stories
Holiday Car Deals Move Earlier: 4 Things to Consider

Lexus put the red bows atop its cars a month early, and General Motors is advertising Black Friday deals two weeks before Thanksgiving as the auto industry copies traditional retailers with holiday discounts well before the holidays. Car buyers will reap good deals for a longer time, analysts say, as automakers battle to hold or increase their share of what likely will be record U.S. auto sales this year. Savings can run in the thousands of dollars. "The consumer is in a great spot to get a great deal," says Tom Libby, manager of industry analysis for the IHS Automotive consulting firm. Lexus, Toyota's luxury brand, started its sales early as it tries to catch Mercedes and BMW, which in recent years have dueled to be the top-selling U.S. luxury brand.
Source: Associated Press
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Millennials' Appetite for Auto Loans Rising

Despite concerns over millennials’ lack of interest in vehicle ownership, they are buying and financing vehicles, says CU Direct, which links credit unions and auto dealerships through its CUDL lending platform. Millennials, those aged 18 to 35, make up 36.2 percent of car buyers financed through the CUDL platform. “We are seeing that people in that age group are starting to enter some of their prime borrowing years,” said Marci Francisco, vice president at CU Direct.
Source: Automotive News
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Compliance Starts with the Dealer

Karen Klees, certified consumer credit compliance specialist at EFG Cos., advises dealers to install a written F&I compliance process and to train employees regularly on the practices they expect. Klees, 60, spoke with Automotive News Staff Reporter Hannah Lutz. Click here for the full Q&A.
Source: Automotive News

Editor's note: For more information on the NADA/NAMAD/AIADA Fair Credit Compliance Policy & Program, click here.
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VW Dampens Hopes for Quick Results in Emissions Probe

Volkswagen has dampened hopes for quick results from an investigation into its rigging of diesel emissions tests and said developing a fix for the affected cars rather than finding the root cause of the manipulations is its top priority. "I understand the desire for speed, but what matters to us instead is to work thoroughly and to not give out false premature results," VW brand sales chief Juergen Stackmann said at a panel discussion on Tuesday. VW's internal investigation is focusing on as many as 40 employees involved in activities related to the manipulations, one person familiar with the matter told Reuters last month.
Source: Reuters

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L.A. Show to Get Global Debuts from Honda, Jaguar Land Rover, Mitsubishi

The rebuilding of the Civic lineup continues in Los Angeles next week as Honda debuts the second of five new Civics. The Civic coupe will get its world debut at the L.A. show. Other automakers also are using L.A. as a launchpad for important new vehicles.
Source: Automotive News

Editor's note: The NADA/J.D. Power AutoConference LA will be held Tuesday, November 17, which precedes press days at the Los Angeles Auto Show. For more information and to register, click here.
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Quotable
"What matters to us primarily is that we can offer full transparency to our customers at this point. Without the trust of our customers, VW would have never become a great brand."

    -- VW brand sales chief Juergen Stackmann, commenting on the automaker's recent emissions scandal, Reuters, Nov. 11

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