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November 3, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Auto Sales Fall Three Straight Months for First Time Since Recession
Automakers Are Responsible for Takata Air Bag Recalls: NHTSA
U.S. Vehicle Fuel Efficiency Hits Record High: EPA
Volkswagen Board to Discuss Brand Overhaul on Nov. 4
The IEA Is Skeptical Electric Cars Will End the Age of Oil
Ford Launches Early ‘Black Friday’ Clearance Sale
Top Stories
Auto Sales Fall Three Straight Months for First Time Since Recession

Auto sales fell 5.8 percent in October, marking the first time since the beginning of the Great Recession that sales of new cars and trucks in the United States declined for three consecutive months. Despite the slight drop, analysts don’t seem alarmed and aren’t expecting any repeat of the last time this negative trend occurred, when year-over-year monthly sales from November 2007 until August 2009 fell and sent two of Detroit’s three automakers into government-backed bankruptcies.
Source: The Detroit News

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Automakers Are Responsible for Takata Air Bag Recalls: NHTSA

Automakers have "ultimate responsibility" for the costs of replacing potentially deadly Takata Corp. airbags, no matter what happens to the Japanese supplier, the top U.S. vehicle safety regulator said on Wednesday. Mark Rosekind, the head of the National Highway Traffic Safety Administration, told reporters in Detroit he is concerned that not enough is being done to find and fix more than 300,000 older vehicles, mostly made by Honda Motor Co., that have Takata airbags with a 50 percent chance of exploding in a crash.
Source: Reuters

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U.S. Vehicle Fuel Efficiency Hits Record High: EPA

The fuel efficiency of new U.S. vehicles hit a record high in 2015 even as more Americans bought larger trucks and SUVs instead of cars, the U.S. Environmental Protection Agency (EPA) said on Wednesday. The EPA said the average fuel efficiency of new vehicles reached a record 24.8 miles per gallon in the 2015 model year, up 0.5 mpg from 2014, and projected that 2016 model year fleet fuel efficiency would rise to 25.6 mpg.
Source: Reuters


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Volkswagen Board to Discuss Brand Overhaul on Nov. 4

The supervisory board of Volkswagen will hold an extraordinary meeting on Friday, Nov. 4, to consult on a wide-ranging restructuring of the carmaker, two supervisory board sources told Reuters on Wednesday. Management and labour leaders are currently seeking to reach agreement on cost cuts and strategy in time for a Nov. 18 meeting of the supervisory board to ratify spending targets across the group for the coming years.
Source: Reuters


Editor's note: The Road Ahead: Volkswagen's North American Future Strategy -- Hinrich Woebcken, president and CEO of Volkswagen Group of America, Inc. and CEO of VW’s North American Region, will offer new details about its commitment to North America and its evolving product lineup of family SUVs at AutoConference LA on Tuesday, Nov. 15, 2016.  The half-day conference, hosted by NADA and J.D. Power, takes place ahead of press days at the Los Angeles Auto Show. Click here for the full agenda and to register.

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The IEA Is Skeptical Electric Cars Will End the Age of Oil

Electric cars won’t cause oil demand to peak anytime soon, according to International Energy Agency Executive Director Fatih Birol. “The oil demand growth is not coming from cars, it’s from trucks, aviation and the petrochemical industry and we don’t have major alternatives to oil products there,” Birol said at the Energy for Tomorrow conference on Thursday in Paris. “I don’t buy the argument that electric cars alone will cause a peak in oil demand at least in short and medium term.”
Source: Bloomberg

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Ford Launches Early ‘Black Friday’ Clearance Sale

Auto maker looks to make up for 12% sales decline in October

Ford Motor Co., looking to bounce back from a 12% sales decline in October, has launched a Black Friday clearance sale several weeks before those sales typically take place. The Dearborn, Mich., auto maker is offering $1,000 “Black Friday Cash” rebates on 2016 and 2017 model-year vehicles, in addition to other offers. Auto maker looks to make up for 12% sales decline in October. A spate of Black Friday deals staged by several auto makers in 2015 pushed November light-vehicle sales toward a 2015 record, perking up demand in a month that is typically a sluggish one for dealerships.
Source: The Wall Street Journal

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Past Articles
       
      Quotable
      "The U.S. auto industry is well positioned for sales to continue at or near record levels for the foreseeable future."

          -- GM Chief Economist Mustafa Mohatarem, The Detroit News, Nov. 3

      Sponsored by

      NADA Foundation


      AutoConference LA
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      NADA President Peter Welch Calls on Dealers to Support Families Affected by Louisiana Flooding





      NADA Chairman Delivers Remarks to Automotive Press Association in Detroit


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      NADA100 Video: Don Wassel Works in Auto Retailing for 53 Years


      Introducing NADA Academy Plus

      NADA Webinars

      Nov. 30: Where is the Buy/Sell Market Headed? (1 p.m. ET)

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

      NADA Chairman's Commentary
      100 Years of Standing Up for Our Customers
       
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