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October 28, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
U.S. Sales Expected to Fall in Oct. for Third Straight Month
Ford Fortunes Fade While Crosstown Rival GM Posts Record Profit
Hyundai, Kia Reach Fuel-Economy Settlement
Toyota Invests in U.S. Car-Sharing Service
Mercedes-Benz Reveals Luxury Pickup Truck
NADA to Issue New-Vehicle Sales Forecast for 2017
Top Stories
U.S. Sales Expected to Fall in Oct. for Third Straight Month

U.S. new-vehicle sales are expected to decline for a third consecutive month, but the industry’s selling rate could reach its highest point of the year because of the way October falls in the calendar. Forecasts ... show sales falling 6 to 8 percent from a year ago. That would be a better performance than it appears because October has two fewer selling days than it did in 2015. Analysts said Hurricane Matthew also slowed sales in the Southeast early in the month.
Source: Automotive News

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Ford Fortunes Fade While Crosstown Rival GM Posts Record Profit

Ford Motor Co.’s profits are slumping while General Motors Co. is posting record earnings. To understand why, look no further than big sport utility vehicles that have come roaring back as U.S. gasoline prices plunged. In the battle of the behemoths, GM is dominating. It controls 49 percent of the U.S. market for large and luxury SUVs with models like the GMC Yukon and Cadillac Escalade, while Ford has just 13 percent of that lucrative business, according to Morgan Stanley analyst Adam Jonas. In a product category where profit margins swell to 20 percent or more, that can give GM an annual $2 billion pretax profit edge over Ford, he said.
Source: Bloomberg

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Hyundai, Kia Reach Fuel-Economy Settlement

South Korean automaker Hyundai and sister brand Kia said Thursday that they had reached a $41.2 million settlement with a group of state attorneys general over their past misstatement of gas-mileage figures. The deal marks the latest in a series of agreements Hyundai and Kia have reached to mop up the aftermath of the fuel economy episode, one of several recent examples of automakers being caught perpetuating inaccurate performance data.
Source: USA Today

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Toyota Invests in U.S. Car-Sharing Service

Toyota Motor Corp. on Friday said it has invested in U.S. car-sharing company Getaround, a move that comes as global automakers seek to shore up their presence in new technology sectors amid growing competition from transport startups. The world's biggest-selling automaker confirmed in an email to Reuters that it has invested in the San Francisco-based start-up through its investment fund, Mirai Creation Investment Limited Partnership, but declined to offer further details.
Source: Reuters


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Mercedes-Benz Reveals Luxury Pickup Truck

Mercedes-Benz is jumping into the luxury pickup game, where profits are plentiful. The luxury automotive brand, a division of German automaker Daimler, revealed a premium pickup truck dubbed the X-Class. The company on Tuesday showed off a concept version of the mid-size pickup truck at an event in Stockholm, saying the five-seat ride will hit showrooms in late 2017. But there's a catch. It's not initially targeted at the U.S. market, where customers are fiercely loyal to pickups offered by General Motors, Ford, Fiat Chrysler, Toyota, Nissan and Honda. Daimler identified "key markets" for the X-Class as Argentina, Brazil, South Africa, Australia, New Zealand and Europe.
Source: USA Today

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NADA / J.D. Power Quarterly Economic Briefing
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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Past Articles
       
      Quotable
      "The fact that this will be the sixth monthly decline in 2016 puts the industry in territory not seen since before the recession."

          -- John Humphrey, senior vice president of the global automotive practice at J.D. Power, commenting on U.S. auto sales, Automotive News, Oct. 27

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