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February 4, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
GM Posts Record Profit in Fourth Quarter and 2015, But Shares Skid
Honda Warns Dealerships of Liability as it Widens Airbag Recall
ALERT: Scrutinize All Billing Invoices Carefully
Kia Plans First Sports Sedan Next Year as it Seeks Younger, More Hip Image, Report Says
Audi Super Bowl Ad Blasts Off with Bowie's 'Starman'
Top Stories
GM Posts Record Profit in Fourth Quarter and 2015, But Shares Skid

General Motors Co reported record quarterly and annual profits on Wednesday and promised 2016 will be even better, but unimpressed investors dumped the automaker's shares. The disconnect highlights the challenges facing GM, Ford and Fiat Chrysler. U.S. sales and profits are strong, the Chinese auto market has not fallen off a cliff, and European vehicle demand is recovering. Yet shares in the Detroit automakers are not getting any respect, increasing pressure on executives to boost dividends and share buybacks even as the costs of new technology and emissions regulations rise. GM shares fell as much as 5 percent, even as Chief Executive Officer Mary Barra and Chief Financial Officer Chuck Stevens told investors on a conference call that any downturn in U.S. auto sales is still several years away.
Source: Reuters

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Honda Warns Dealerships of Liability as it Widens Airbag Recall

American Honda has expanded its Takata airbag recalls by more than 2 million vehicles and warned dealers that they could face legal exposure for unrepaired vehicles if they violate a related stop-sale order for the affected cars. The recall and stop-sale order covers the 2007-11 CR-V crossover, 2011-15 CR-Z coupe, 2009-13 Fit, 2013-14 Fit EV, 2010-14 Insight hybrid and the 2007-14 Ridgeline, according to a Jan. 30 memo from Honda to its U.S. dealers that was obtained by Automotive News. The recall also covers several Acura models: the 2005-2012 Acura RL, 2009-2014 Acura TL, 2010-2013 Acura ZDX, 2013-2016 Acura ILX and the 2007-2016 Acura RDX, according to a Honda press release issued late Wednesday. All told, about 2.23 million vehicles are covered by Honda’s latest expansion of the Takata recalls, the automaker said. Including the recalls announced Wednesday, 8.51 million Honda and Acura vehicles in the U.S. market have been recalled for Takata airbag inflators, the company said.
Source: Automotive News

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ALERT: Scrutinize All Billing Invoices Carefully

NADA has received reports of dealers receiving invoices for payment of services or products that may not have been ordered or purchased. NADA urges all dealerships to scrutinize their invoices carefully before issuing payment, and verify that the services or products described in the invoices have actually been ordered or purchased. Be especially careful before sharing credit card numbers, bank account information and setting up automatic payments because of the risk of unauthorized charges to your accounts or hacking of the dealership’s financial assets.
Source: NADA Legal Affairs

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Kia Plans First Sports Sedan Next Year as it Seeks Younger, More Hip Image, Report Says

Kia Motors plans to launch its first sports sedan next year, people familiar with the matter told Reuters, seeking to burnish a sporty, younger image as larger sibling Hyundai Motor builds up its premium offerings. Kia aims to start producing the sedan, codenamed CK, in May 2017 and will target annual output of 60,000 vehicles, said two people with direct knowledge of the matter, declining to be identified as the plans have not been made official.
Source: Reuters

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Audi Super Bowl Ad Blasts Off with Bowie's 'Starman'

Audi captures a bit of David Bowie's magic in new Super Bowl ad for the R8

Audi is blasting off to the tune of David Bowie's "Starman" in new Super Bowl ad released by the premium automotive brand. The ad, called "Commander," depicts a retired astronaut who has lost his love for life until he gets behind the wheel of the a new Audi R8 V10 plus. Driving the powerful Audi R8 allows the man to relive his glory days as Starman plays in the background. "Starman" was a huge hit in 1972 from "The Rise and Fall of Ziggy Stardust and the Spiders from Mars," -- arguably David Bowie's best album. Bowie died last month. The new Audi R8 goes on sale this spring. Now in its second generation, Audi R8 V10 plus has a top speed of 205 mph with a 3.2-second 0-60 mph time. A 60-second version of the commercial is scheduled to air during the first quarter of the Super Bowl on Sunday.
Source: Detroit Free Press

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    Quotable
    "It was a strong year on many fronts, capped with record sales and earnings, and a substantial return of capital to our shareholders."

        -- GM CEO Mary Barra, commenting on the automaker's record profit in 2015, International Business Times, Feb. 3

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