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February 11, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Peyton Manning to Speak at NADA Convention in Las Vegas
The High Consequences of Low Interest Rates
About 1 in 5 U.S. Vehicles Has Open Safety Recall, Carfax Says
VW, Audi, BMW Recall 1.7 Million U.S. Cars with Takata Airbags
Demographic Double-Whammy Pushes SUVs, Ford Says
Suburban Ford Teams with Fire Department for Lifesaving Equipment
Top Stories
Peyton Manning to Speak at NADA Convention in Las Vegas

Peyton Manning, who became the first NFL quarterback in history to win a championship with two different teams, will deliver remarks at the 2016 NADA Convention and Expo in Las Vegas next month. He led the Denver Broncos to a 24-10 win against the Carolina Panthers last Sunday. Manning is a five-time NFL Most Valuable Player whose career spans 18 years, and is the first to win 200 games as an NFL starting quarterback.



Other speakers include 2015 NADA Chairman Bill Fox; 2016 NADA Chairman Jeff Carlson; Mike Allen, Politico’s chief White House correspondent, will moderate a discussion with Karl Rove, former White House deputy chief of staff and senior advisor to President George W. Bush, and Howard Dean, former governor of Vermont and former chairman of the Democratic National Committee; and comedian Jeff Foxworthy.

The NADA convention runs from Thursday, March 31, through Sunday, April 3, at the Las Vegas Convention Center. The four-day event includes dealer-manufacturer franchise meetings, hundreds of workshop sessions for dealers and their managers, more than 600 exhibitors on the expo floor, and numerous networking events.

The American Truck Dealers (ATD) Convention and Expo runs concurrently with the NADA convention.

The deadline for NADA member dealers and their managers to receive the advance registration discount of $75 is March 25. For more information or to register, visit www.nadaconvention.org.
Source: NADA

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The High Consequences of Low Interest Rates

At the start of 2016, Americans were bracing for interest rates to rise significantly for the first time since the financial crisis. Instead, rates have slumped anew, rattling financial markets and undoing the plans of investors, consumers and businesses alike. The slide has alarmed investors because borrowing costs tend to rise in a healthy economy, reflecting growing demand for money among consumers and businesses and bolstering the profits of banks and other financial firms. Many investors and economists see the era of low interest rates continuing for some time. Friday's jobs report for January confirmed that the U.S. economy, while unspectacular, remains enough of a haven to keep luring capital from sputtering emerging economies.

Jeff Carlson, who owns three dealerships in western Colorado that sell Subaru and Ford vehicles, said two of his stores notched record sales in 2015, which he attributed to the ready availability of cheap financing, as well as low gas prices and a busy ski season in the region. "Vehicles are as affordable for the consumer as they've been in recent memory," Mr. Carlson said. Yet many analysts and investors say it's hard to see auto sales growing at their current clip for much longer, and car maker stocks have suffered this year. "It's starting to feel like we're pulling sales ahead," said Steven Szakaly, chief economist for the National Automobile Dealers Association. "The sales pace is very hard to sustain going outward without some rise in wages and income, or some increase in incentives" from manufacturers.
Source: The Wall Street Journal

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About 1 in 5 U.S. Vehicles Has Open Safety Recall, Carfax Says

Nearly one in five vehicles on U.S. roads is in need of repair of a safety issue serious enough to be involved in a federal government recall, according to used-car history provider Carfax. There are more than 47 million cars in the U.S. with open recalls, up 27 percent from a year ago, Carfax said. "Our data shows there's still much hard work to be done in addressing recalls," Larry Gamache, communications director at Carfax, said. There were 258.5 million vehicles in operation on U.S. roads at last count in October 2015, business research provider IHS Inc., the parent of Carfax, said.
Source: Reuters

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VW, Audi, BMW Recall 1.7 Million U.S. Cars with Takata Airbags

The Volkswagen Group of America is recalling about 850,000 vehicles due to potentially faulty airbags made by Japanese supplier Takata Corp. -- the company at the center of a long-running global safety crisis. Volkswagen said it will recall 680,000 vehicles in the United States due to the potentially faulty airbags, while Audi will recall about 170,000 vehicles, spokespeople for the companies said. The move comes after U.S. auto safety regulators said last month that Takata had declared 5.1 million U.S. vehicles defective, revealing that far more airbags than previously thought were potentially unsafe. Also, BMW said it will recall about 840,000 U.S. vehicles equipped with the Takata airbags. The recall covers BMW cars and SUVs from model years 2006 to 2015. The models have not been included in previous Takata-related recalls, BMW said.
Source: Automotive News

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Demographic Double-Whammy Pushes SUVs, Ford Says

Ford says it plans to add four all-new SUVs to its global lineup in the next four years, all in gaps in the company’s product portfolio where it doesn’t currently offer a vehicle. Missing from the Ford lineup are CUVs slotting below the Escape, the planned Bronco midsize CUV due in 2019 and Lincoln counterparts to vehicles such as the Explorer. The company also may need a replacement for the Ford Flex/Lincoln MKT large CUV when it goes out of production later this decade. Ford’s biggest need is an entry in the hot compact CUV segment that features such models as the Buick Encore, Honda HR-V, Jeep Renegade, Mazda CX-3 and Subaru Crosstrek. Mark LaNeve, Ford vice president-Marketing, Sales and Service, says the Dearborn automaker’s decision is based on the expectation that SUV sales will continue to grow in the U.S. and worldwide.
Source: WardsAuto

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Suburban Ford Teams with Fire Department for Lifesaving Equipment

Jim Elder III, general sales manager at Suburban Ford [in Sterling Heights, Mich.,] recently supported a grant request through the National Automobile Dealers Charitable Foundation to provide the Sterling Heights Fire Department with a state-of-the art [CPR] training mannequin, which was delivered last month. “Suburban Ford is glad to be part of this great community and support the fire department, helping them save lives,” Elder said.
Source: The Source (Macomb County, Mich.)

Editor's note: For details on how to make a CPR donation in your community, contact Naxhieli Acosta at nacosta@nada.org.

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      Quotable
      "The sales pace is very hard to sustain going outward without some rise in wages and income, or some increase in incentives."

          -- NADA Chief Economist Steven Szakaly, commenting on the outlook for U.S. auto sales, The Wall Street Journal, Feb. 9

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