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August 12, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
U.S. Retail Sales Stall as Auto Dealers' Gain Is Others' Pain
Weak Retail Sales, Inflation Data Dim Prospect of Fed Rate Hike
Lawyers in Volkswagen Case Seek Up to $332.5 Million in Fees, Costs
The Superglue Diet: How to Make a Lighter, Fuel-Sipping Car
Karma Aims to Challenge Tesla with $115,000 Solar-Boosted Hybrid
Ford Gets $6 Million from Feds for Fuel-Cell Research
$100 Registration Discount Ends Sept. 9; Top Hotels in New Orleans Selling Out
Top Stories
U.S. Retail Sales Stall as Auto Dealers' Gain Is Others' Pain

Sales at U.S. retailers were little changed in July as Americans flocked to auto dealers at the expense of other merchants. Improving car sales drained enough cash from consumers’ accounts to cause demand at eight of 12 other major retail categories to fall. While households have been bolstered by higher stock and home values, stronger wage growth would go a long way in improving purchasing power. At motor vehicle dealers, purchases improved 1.1 percent, the most since April, after a 0.5 percent advance. The figures were in line with industry data. Sales of cars and light trucks climbed to a 17.77 million annualized rate in July, the strongest in eight months, according to Ward’s Automotive Group figures.
Source: Bloomberg

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Weak Retail Sales, Inflation Data Dim Prospect of Fed Rate Hike

U.S. retail sales were unexpectedly flat in July as Americans cut back on purchases of clothing and other goods, pointing to a moderation in consumer spending that could temper expectations of an acceleration in economic growth in the third quarter. Other data on Friday showed producer prices recorded their biggest drop in nearly a year in July amid declining costs for services and energy goods. Cooling consumer spending and tame inflation suggest the Federal Reserve will probably not raise interest rates anytime soon despite a robust labor market.
Source: Reuters

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Lawyers in Volkswagen Case Seek Up to $332.5 Million in Fees, Costs

Lawyers for Volkswagen AG vehicle owners will seek up to $332.5 million in fees and costs for their work in a $10 billion settlement over claims the automaker used software to cheat on emissions testing, according to a court filing. The filing late Wednesday in a federal court in California said Volkswagen and the plaintiffs' lawyers have not yet agreed on how much the attorneys will be paid.
Source: Reuters

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The Superglue Diet: How to Make a Lighter, Fuel-Sipping Car

Automakers are racing to improve fuel efficiency to meet the increasing mileage standards that environmental regulators have set for the next nine years. Space-age adhesives are being used more widely, just one of the many leaps manufacturers are taking to reduce weight and save fuel. But to continue their gains, automakers must find additional innovations.
Source: The New York Times

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Karma Aims to Challenge Tesla with $115,000 Solar-Boosted Hybrid

Karma Automotive LLC, the Chinese-owned carmaker once known as Fisker Automotive, has taken another step in its resurrection with the online reveal of its plug-in hybrid sedan that seeks to compete with Tesla’s Model S electric car. The rebooted automaker has revealed the all-new Revero, which will cost more than the $115,000 sticker price on the original Fisker Karma when deliveries begin no later than next year’s first quarter. The car will be able to go about 50 miles in pure electric drive before a gasoline engine kicks in, said Chief Revenue Officer Jim Taylor. It also has a solar panel on the roof that can charge the battery, he said. Under Wanxiang Group Corp. and its chairman Lu Guanqiu, Karma is one of several Chinese-backed plug-in car companies that are targeting the U.S. market with electric cars that will take on Tesla Motors Inc.
Source: Bloomberg

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Ford Gets $6 Million from Feds for Fuel-Cell Research

The U.S. Department of Energy is awarding $6 million to Ford Motor Co. and Los Alamos National Laboratory in New Mexico to help pay for projects that will advance efforts to develop fuel cell and hydrogen technologies for cars.
Source: The Detroit News


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2017 NADA Convention & Expo
$100 Registration Discount Ends Sept. 9; Top Hotels in New Orleans Selling Out

The discounted registration rate for NADA members and managers includes admission to NADA 100 Carnival.

Online registration and hotel selection for the 2017 NADA Convention and Expo in New Orleans is now open. NADA members and their managers who register by September 9 will receive a $100 discount.



NADA, founded in 1917, will kick off yearlong events commemorating its 100-year anniversary with NADA 100 Carnival in New Orleans. The exclusive event for NADA members, international affiliates and guests will be held at Mardi Gras World on Thursday, January 26. The Carnival will feature cuisine from top New Orleans restaurants, as well as musical entertainment from Foreigner, Cowboy Mouth and jazz favorites. The NADA member and manager registration fee includes admission to the NADA 100 Carnival. The four-day NADA Convention, which runs from January 26 to 29, includes keynote speakers, dealer franchise meetings, workshops, an Expo and numerous networking events. Click here to register.
Source: NADA

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