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Inside this issue
U.S. Truck, SUV Sales Stay Strong in February, but at a Price
GM Feb. Sales Up 4.2%, Ford Down 4%, FCA Down 10.1%
Nissan, Honda Sales Up in February; Toyota Down
The Gap Between New and Used Car Loans Hits a Record High
NADA Partners with Junior Achievement to Improve Financial Literacy
Top Stories
U.S. Truck, SUV Sales Stay Strong in February, but at a Price

February U.S. auto sales, an indicator of consumer spending, fell slightly even as automakers stepped up discounting to sustain sales, major manufacturers reported on Wednesday. Demand for cars, sport utility vehicles and pickup trucks in February dipped to an annualized pace of 17.6 million vehicles, compared with a robust 17.7 million a year earlier, according to Autodata Corp. Light trucks accounted for 62 percent of light vehicle sales in February.
Source: Reuters

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GM Feb. Sales Up 4.2%, Ford Down 4%, FCA Down 10.1%

General Motors Co., driven by strong sales of pickup trucks and SUVs, said Wednesday its February sales rose 4.2 percent, while Ford Motor Co. and Fiat Chrysler Automobiles NV each reported year-over-year sales declines. Automakers report they continue to see consumers shift preferences toward trucks and SUVs, which is cutting into the sales of cars.
Source: The Detroit News

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Nissan, Honda Sales Up in February; Toyota Down

U.S. auto sales were expected to cool off slightly in February, according to most analysts. Edmunds.com forecasted a 1% decline, Kelley Blue Book projected a 3.3% decrease and TrueCar subsidiary ALG predicted a 1.4% decline. LMC Automotive projected a 0.6% increase.
Source: USA Today

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The Gap Between New and Used Car Loans Hits a Record High

Are you willing to borrow another $11,000? That's the difference in the average loan for a new vehicle compared to the average loan for a used model, according to Experian, which tracks how consumers are paying for the cars and trucks they're buying. In the fourth quarter, the average amount borrowed to pay for a new vehicle jumped more than $1,000 to hit a total of $30,621. That is, $11,292 more than the average loan for a used vehicle during the same period.
Source: CNBC

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NADA Partners with Junior Achievement to Improve Financial Literacy

NADA has partnered with Junior Achievement USA to teach financial educational courses to students in grade schools and high schools through a volunteer program. “A goal of the partnership is to get new-car dealers or dealership representatives in communities across the country to become volunteers in the program,” said Michelle Primm, managing partner of Cascade Auto Group in Cuyahoga Falls, Ohio, who is providing financially-focused curriculum to students in her local school district through Junior Achievement. For more information on how to become a volunteer, contact Deb Stevens at dstevens@nada.org or call 703.827.6861.
Source: NADA

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Past Articles
       
      Quotable
      "This isn't like some marketing fad; this is an evolution of the market."

          -- Mark Wakefield, a managing director and head of the automotive practice for consultant AlixPartners LLP, commenting on the growth in light-truck sales, Bloomberg, March 2

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      Automotive Forum -- April 11

       
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