View Web Version

SPONSORED BY
NADA.org
April 28, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
VW CEO Says Priority is to ‘Regain Trust’ After Emissions Scandal
Ford Earns $2.5 Billion in Record-Setting First Quarter
Group 1 CEO Says Automakers Need to Cut Production
Subprime Growth: Worth Watching, Not Panicking
Mitsubishi Says 2013-17 Audit Showed No U.S. Testing Flaws
Reminder! NADA Now Accepting 2017 Convention Workshop Proposals
Top Stories
VW CEO Says Priority is to ‘Regain Trust’ After Emissions Scandal

Still reeling from the fallout of its emissions scandal, Volkswagen (VW) CEO Matthias Mueller told reporters that "rules were broken and boundaries overstepped… it's very painful and we apologize sincerely." VW is accused of manipulating emissions test data on its diesel vehicles in the U.S. and Europe. The beleaguered carmaker is facing a $9 billion buy back of its diesel vehicles.
Source: CNBC

Related Stories: 


Share: LinkedIn Twitter Facebook

[back to top]

Ford Earns $2.5 Billion in Record-Setting First Quarter

Ford Motor Co. said Thursday it made $2.5 billion in a banner first quarter, including an all-time record $3.8 billion pre-tax profit. The Dearborn automaker’s net income was more than double from last year’s $1.2 billion. Ford earned a record operating margin of 9.8 percent and increased its global market share two-tenths of a percentage point to 7.1 percent thanks to gains in North America, Europe and Asia Pacific.
Source: The Detroit News

Related Story:


Share: LinkedIn Twitter Facebook

[back to top]

Group 1 CEO Says Automakers Need to Cut Production

The head of one of the biggest U.S. dealership groups said major automakers must cut production in order for dealers to keep healthy profit margins. "We simply have too much," Group 1 Automotive Inc. CEO Earl Hesterberg told Reuters. "More of the manufacturers are pushing more inventory. They are making more than they really need." Hesterberg said his company's U.S. dealers have 20 percent to 25 percent more new vehicles than they would like on sales lots.
Source: Automotive News

Share: LinkedIn Twitter Facebook

[back to top]

Subprime Growth: Worth Watching, Not Panicking

Yes, subprime auto lending has grown in recent years. However, don’t sound the alarm bells. This is not mortgage crisis 2.0. It’s probably not even subprime auto lending crisis 2.0. The level of subprime auto lending is not even close to where it was in the mid-2000s, just before the financial crisis and automotive tumble at the end of the decade, according to TD Economics, an affiliate of TD Auto Finance and TD Bank.
Source: Auto Remarketing

Related Story:


Share: LinkedIn Twitter Facebook

[back to top]

Mitsubishi Says 2013-17 Audit Showed No U.S. Testing Flaws

Mitsubishi Motors, embroiled in a scandal over inflated fuel economy ratings for small cars sold in Japan, said today that an internal audit has found no testing problems with cars sold in the United States between model years 2013 and 2017. “Our findings confirm that fuel economy testing data for these U.S. market vehicles is accurate and complies with established EPA procedures,” Don Swearingen, COO of 
Mitsubishi Motors North America, said in a letter to dealers.
Source: Automotive News

Share: LinkedIn Twitter Facebook

[back to top]

Reminder! NADA Now Accepting 2017 Convention Workshop Proposals

The deadline to submit a workshop proposal is May 16, 2016.

The workshops are one of the main attractions at the annual NADA Convention and Expo. Nearly 16,200 participants, which included new-car dealers, dealership managers and industry professionals, attended the workshop sessions at the past convention in Las Vegas. Workshop proposals for the 2017 NADA convention, which will be held in New Orleans, can be submitted online until 5 p.m. EDT on May 16, 2016. For detailed instructions on how to submit a workshop proposal, click here.
Source: NADA Dealership Operations

Share: LinkedIn Twitter Facebook

[back to top]

More Articles
           
          Quotable
          "We know that we have disappointed many people – people who have placed their trust in Volkswagen. We stand by our responsibility. And we are doing everything in our power to regain trust."

              -- VW CEO Matthias Mueller, on the automaker's goal to regain trust after the emissions scandal, CNBC, April 28

          Sponsored by

          NADA Market Beat

          Have Sales Finally Peaked?

          Videos -- 2016 NADA Convention

           NADA 2016: Sunday


           NADA 2016: Saturday


           NADA 2016: Friday


           NADA 2016: Three Square Food Bank

          Sponsored by


          NADA Webinars
          All webinars are held at 1 p.m. ET unless otherwise noted.

          May 18: 10 Questions You Should Ask Your Digital Partners

          May 25: How Social Media and Online Reviews Complete the SEO Puzzle 

          NADA members can view past webinars on-demand at no charge at NADA University Online. Member must create an NADA account before viewing.

           
          Search Back Issues | Unsubscribe | Subscribe | Manage your subscription | email us
          NADA For more information on NADA, visit www.nada.org or contact NADA, 8400 Westpark Drive, McLean, VA 22102. This email may contain an advertisement of NADA products and services. Any opinions or statements contained herein do not necessarily reflect the views of NADA. Factual errors are the responsibility of the listed publication. If you are a franchised new-car or -truck dealer and would like to become a member of NADA, please visit the Join NADA section of www.nada.org. Questions or comments concerning NADA Headlines content may be directed to publicaffairs@nada.org .