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May 31, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Slower Auto Sales Force Tough Choices In 2017
GM Shareholders Prepare to Meet, Battle Over Stock-Split Proposal Intensifies
Nissans Crowding Rental-Car Lots Carry Risk as U.S. Sales Slow
Daimler Said to Seek U.S. Lawyers for Executives in Diesel Probe
Short-Circuiting Customer Disputes
Empower Retirement Provides Investment Market Insight
Top Stories
Slower Auto Sales Force Tough Choices In 2017

With almost half the year gone, it’s looking pretty certain U.S. auto sales are not going to set a third consecutive all-time record for 2017, forecasters said. LMC Automotive and J.D. Power last week cut their joint U.S. auto sales forecast for the year to 17.2 million units, from an earlier prediction of 17.5 million. That’s still pretty great, since 17.2 million would put 2017 in the running for the third-best year ever.
Source: Forbes.com

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GM Shareholders Prepare to Meet, Battle Over Stock-Split Proposal Intensifies

The rhetoric over an activist investor’s stock-split proposal is getting more intense with one week to go until General Motors’ annual shareholder meeting June 6 in Detroit. GM is touting reports from two advisory firms that have sided with the company over the proposal from billionaire David Einhorn’s Greenlight Capital. Einhorn wants to split GM stock into two classes, which he says would unlock billions of dollars in shareholder value. GM, however, has painted the proposal as risky and has defended its efforts to transform the company in a changing auto environment. Einhorn owns 52 million shares of GM stock, or just over 3% of GM's common stock.
Source: Detroit Free Press

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Nissans Crowding Rental-Car Lots Carry Risk as U.S. Sales Slow

Rental-car companies go through cars much like consumers do, racking up miles before reselling them to the used-vehicle market. If Nissan sells too many cars to the likes of Hertz and Avis, the oversupply can depress the value of vehicles owned both by regular consumers and the companies.
Source: Bloomberg

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Daimler Said to Seek U.S. Lawyers for Executives in Diesel Probe

Daimler AG is conducting a search for U.S. criminal defense lawyers to represent company executives who may be swept up in the Justice Department’s investigation of possible diesel-emissions cheating, according to people familiar with the matter.
Source: Bloomberg

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Short-Circuiting Customer Disputes

Dealer Forrest McConnell says the easiest decision he makes on any given day is how to respond to a customer who claims he or she didn't receive an expected product or service. He gives it to them. "Maybe sometimes we forget to give them something. Maybe sometimes we didn't explain something properly. Or maybe sometimes the customer is mistaken," said McConnell, a third-generation dealer who heads McConnell Honda in Montgomery, Ala., and was chairman of the National Automobile Dealers Association in 2014. "None of that matters. What matters is treating our customers right. They get what they think they should have. Absolutely."
Source: Automotive News

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Empower Retirement Provides Investment Market Insight

A quarterly market commentary, courtesy of the NADA Retirement program from Empower Retirement, is now available. Jonathan Kreider, vice president for Great-West Financial Investment Products, provides insight into current market trends and general fund performance. Click here for the market commentary and find additional information about the NADA Retirement program from Empower at nadaretirement.com.
Source: NADA

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Quotable
"What matters is treating our customers right."

    -- Forrest McConnell, a Honda and Acura dealer in Montgomery, Ala., and 2014 NADA chairman, commenting on how his dealerships handle consumer disputes, Automotive News, May 24

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