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October 21, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
NADA to Issue New-Vehicle Sales Forecast for 2017
Daimler Sees Growth Stalling on North America Truck Market Woes
Video: Nissan CEO Carlos Ghosn Plans Deep Dive to Repair Mitsubishi's Image
Baby Boomers Are Getting Too Old for Sports Cars
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NADA to Issue New-Vehicle Sales Forecast for 2017

NADA and J.D. Power to hold quarterly economic briefing on auto retailing trends shaping the new and used vehicle markets.

Date:   Tuesday, Nov. 15, 2016
Call-in Time:  11:30 a.m. ET / 8:30 a.m. PT
To Register:  www.nada.org/forecast2017  

Steven Szakaly, NADA chief economist, will issue a sales forecast for new cars and light trucks for 2017, and provide an economic outlook and identify the key economic factors that will shape auto retailing next year. Szakaly, who has predicted sales of 17.7 million new light vehicles for 2016, will also provide a year-in-review.

Jonathan Banks, vice president of vehicle analysis and analytics for J.D. Power, will discuss both new- and used-vehicle market trends and the key economic conditions affecting auto retailing, as well as how the used-vehicle market is performing in the final quarter of 2016, and how leasing and gasoline prices are affecting the industry.

A Q&A session with members of the media and industry will follow the briefing.

To register, visit www.nada.org/forecast2017. Registrants will receive a call-in number and conference ID.
Source: NADA

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Daimler Sees Growth Stalling on North America Truck Market Woes

Daimler AG lowered its 2016 revenue forecast citing weaker demand for trucks in North America, sparking concern that the automaker’s profit is set to whither. Daimler predicted sales this year to be flat, backing off a previous forecast for a slight rise. The Stuttgart, Germany-based company stuck to a forecast of earnings this year being “slightly” higher than 2015’s $15 billion.

Even though Mercedes is on track to overtake BMW’s namesake brand in global sales for the first time in more than a decade, the automaker is under pressure to spend to develop self-driving and electric-vehicle technologies. At the same time, Daimler, also the world’s largest maker of heavy-duty vehicles, is battling with declining demand in key truck markets. The company said pricing competition was on the rise in Europe and predicted that the market in North America would fall 15 percent this year.
Source: Bloomberg

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Video: Nissan CEO Carlos Ghosn Plans Deep Dive to Repair Mitsubishi's Image

As the new chairman-elect of the Mitsubishi Motors board, Nissan's chairman and chief executive officer, Carlos Ghosn, has two priorities: Help the troubled Japanese carmaker regain consumer trust and return it to a growth path. The turnaround effort will be led by Mitsubishi's chief executive officer, Osamu Masuko, and its employees, with support from Nissan, while Ghosn's role would be more of governance at the top.
Source: CNBC

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Baby Boomers Are Getting Too Old for Sports Cars

Baby boomers are starting to outgrow their midlife crisis years, and that’s bad news for automakers who want to sell sports cars. It was a sign of things to come this month when Ford Motor Co. idled its Mustang plant for a week as sales for the year fell 9 percent. Other sports cars have faded at a similar rate, and even stalwarts like the Chevrolet Corvette and most Porsche models are slumping.
Source: Bloomberg

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Follow NADA on Instagram



To celebrate its 100th anniversary, NADA is now sharing a series of historic photos on Instagram. Founded in 1917, NADA will kick off yearlong events commemorating its 100-year anniversary beginning with NADA 100 Carnival at the 2017 NADA Convention and Expo in New Orleans in January. Follow at www.instagram.com/nada.
Source: NADA

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Past Articles
       
      Quotable
      "Boomers are starting to age out of sports cars. When you get into your 60s, comfort becomes more important. Sports cars are not going away, but the market will get smaller."

          -- Eric Noble, president of CarLab, a consulting firm in Orange, Calif., Bloomberg, Oct. 21

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