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A
'Doggoned Good Year'
Outgoing NADA chairman cites
political success, improved relations with factories
It has been a heck of a year for Dale Willey. Like most of
his recent predecessors, Willey spent much of his time as
chairman of the National Automobile Dealers Association on
the road.
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Ford
Denies it's in Talks to Sell Volvo
Ford
Motor Co., responding to reports that it's putting its Volvo
unit up for sale, said it is not negotiating with anyone to
sell the Swedish automaker.
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Big
Three Try Harder Than Ever to Make Customers Happy
People
in the market for a new car or truck will find themselves
deluged with attractively priced options better tailored to
meet their specific needs.
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Detroit
Gets A Buzz from Electric Cars
They're
going electric in the Motor City -- well, maybe not just yet.
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Bush
urges push for alternative energy
President
George W. Bush on Thursday said the push to develop
alternative sources of energy and wean the nation off
foreign oil shouldn't be slowed by falling gasoline prices.
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Gasoline
Price at Lowest Since February
Cheaper
gas may fuel truck and SUV sales
U.S.
drivers continued to find more savings at the pump, as the
price for gasoline fell for the eighth week in a row to the
lowest level since February, the government said on Monday.
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Small
Cars Stage a Big Turnaround
Small-car
sales could set a record this year, a comeback from decades
of being disparaged as unsafe, cramped and poorly built.
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Mulally
Already Shaking Up Ford
Alan
Mulally took one look at the jam-packed executive meeting
schedule at Ford Motor Co. last week and shook his head.
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General
Motors, Ford have Discussed Possible Merger or Alliance
High-level
executives at General Motors Corp. and Ford Motor Co. have
discussed possibly forming a merger or alliance, Automotive
News reported today.
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Alliance
Talk: Is Ford Jumping into the Mix?
Ford
Motor Co. stock surged Wednesday after news reports said
Chairman Bill Ford last month called Carlos Ghosn, the CEO
of Nissan Motor Co. and Renault SA, to discuss a partnership
if General Motors Corp. does not join with Ghosn in a global
automotive alliance.
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Big
3's future rides on new models
For
Detroit automakers, vehicle launches in the second half of
2006 are at the heart of an effort to rebound from
disappointing sales and spotty earnings this year. But the
companies will continue to face a challenging environment in
the months ahead.
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Fed
official: Rate hikes may continue
U.S.
inflation may be worse than what is showing up in government
data and the Federal Reserve may
have to keep raising interest rates if it persists, a Fed
official said Friday.
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Ford
Admits Strategic Errors
Ford
Motor Co. turnaround
chief Mark Fields acknowledged yesterday that the company
made strategic missteps in recent years with its
over-reliance on sport-utility vehicles, leading to the No.
2 automaker's current financial crisis.
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GM
Turns Loss into First Profit Since '04
Armed
with the advice of federal regulators, General Motors Corp.
said it earned $445 million during the first three months of
the year.
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GM
to Sell Majority Stake in GMAC for $14B
General
Motors Corp., which is struggling to turn around its North
American automaking operations, announced Monday that it has
reached an agreement to sell a 51 percent stake in its
profitable finance arm.
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Honda
Sees Near Double Digit Growth in 2006 Car Sales
Honda
Motor Co. forecast near double-digit growth in its 2006
global car sales to another record, following an estimated 5
percent increase this year, driven mainly by brisk overseas
growth.
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Charitable
Giving by Auto Dealers Hits New Record
Charitable
giving by new car and light truck dealers reached a record
level of more than $4.1 million in 2005, according to the
National Automobile Dealers Charitable Foundation (NADCF),
celebrating its 30th year.
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Auto
Sales Still Sluggish Despite Promotions
Driven
by a new round of year-end promotions, November U.S. auto
sales are poised for a comeback after a dismal showing in
October. But industry analysts are still seeing a rough fall
season in the showrooms compared to a year ago.
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Huge
GM Cuts May Not Be Enough, Some Fear
With
its U.S. market share in a decades-long tailspin, General
Motors Corp. took dramatic steps Monday to downsize its
North American operations by shuttering nine plants and
slashing 30,000 jobs.
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AIADA's
New PAC Irritates Rivals
Auto
dealers will decide with their checkbooks whether they want
yet another political action committee to handle their
campaign contributions.
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Deja
Vu: GM Sparks Price War
It's
like a recurring bad dream for the U.S. automotive industry.
Every time Detroit's automakers pledge to back off
profit-killing and brand-tarnishing incentives, a huge dip
in sales sends them running back to rebates.
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Car
Makers Forced to Pile on More Discounts
Car
companies are having a hard time weaning buyers off of big
discounts. After this summer's sales bonanza driven by
employee-pricing discounts, domestic auto makers had been
hoping to boost profits by reducing the widespread
discounting.
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Hurricane
Relief: Contributions to NADCF Fund Top $3 Million
Donations
to the Emergency Relief Fund of the National Automobile
Dealers Charitable Foundation have reached $3.15 million.
They include contributions by state dealer
associations, individual dealers, NADA and others to assist
dealership employees affected by the recent hurricanes.
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F&I
Coalition Starts Web Site
A
group of auto dealers and vehicle lenders is launching a Web
site designed to inform consumers about dealership finance
and insurance practices. The site,
www.autofinancing101.org, is scheduled to go online this
week.
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Sales
of SUVs Fall Sharply
Rising
gas prices and a shift to more fuel-efficient models sharply
cut into sales of sport-utility vehicles in September.
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Dealers
Pamper Car Buyers
Forget
about the bad old days when car dealerships offered
customers plastic chairs, dog-eared magazines and
serve-yourself coffee. Auto dealers are spending big bucks
on new and refurbished showrooms that create an inviting
atmosphere and lavish potential buyers with upscale
amenities.
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Texas
Dealers Brace for Hurricane Rita
Texas
auto dealers with stores in the predicted path of Hurricane
Rita worked frantically Thursday to secure their businesses.
Rita, a Category 4 hurricane, is expected to reach land late today
or early Saturday in the Gulf Coast region of Texas and
southwest Louisiana.
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Supply
Chain Crimps Hybrid Output
To
keep up with U.S. demand for hybrid vehicles, Detroit's Big
Three may have to look beyond the U.S. supply chain for
parts and innovation.
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Katrina
Aftermath: Dealers Urged to be Alert for Vehicles Damaged by
Water
The
devastating aftermath of Hurricane Katrina has left a large
population of flood-damaged vehicles. Dealers are
urged to be aware of the possibility that some flood-damaged
vehicles could appear on the used car market, and to take
steps to detect the signs.
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Car
Dealers Pick Up Pieces
Hurricane
Katrina damaged about 230 Big Three dealerships across the
Gulf Coast region, with the automakers reporting that nearly
50 stores were all but wiped out.
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Toyota
Hopes to Cut Hybrid Premium in Half
The
president of Toyota Motor says he has told his engineering
chief to find a way to cut in half the price difference
between fuel-efficient gas-electric hybrids and similar
gasoline models.
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Katrina:
NADA Pledges Up to $1 Million for Emergency Relief Fund
NADA
has pledged up to $1 million to the Charitable Foundation's
Emergency Relief Fund to help meet the financial needs of
dealership employees impacted by Hurricane Katrina. To date,
total pledges to the fund are nearly $2 million.
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Dealers
are Reaching Out to Help Katrina Victims in Creative Ways
In
addition to supporting the Emergency Relief Fund of the
National Automobile Dealers Charitable Foundation (NADCF)
through direct contributions, dealers are also finding other
creative ways to help out. Full
Article>
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Katrina
Relief: NADA Foundation Off to Fast Start in Emergency
Relief Fundraising
The
Emergency Relief Fund of the National Automobile Dealers
Charitable Foundation (NADCF) had a $200,000 balance before
Katrina. The National Automobile Dealers Association added
another $100,000 today. Full
Article>
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NADA
Foundation Launches National Fundraising Effort for
Hurricane Relief
The
National Automobile Dealers Charitable Foundation (NADCF) is
raising funds to offer emergency relief to dealership
employees who have suffered loss or damage of personal
property by Hurricane Katrina. Find
Out More>
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Big
3 Lose Ground to the Imports
Sales
of import brands rose sharply in the first half of
August as Detroit automakers ran out of new car and
truck supplies after extending generous
employee-style discounts to all buyers.
Detroit
News >
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Auto
Dealers Mixed on Gas Prices
Gas
prices soared to a record $2.55 per gallon
nationwide last week, and some areas already are
seeing prices at or above $3 a gallon. But
automakers and industry watchers say the price spike
isn't yet affecting consumers' car-buying habits.
Associated
Press >
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Cars
of the Future: Analysts Expect More Content for Less
Cash
Car
consumers can expect to see more diesel engines, a
greater variety of safety and convenience features,
and more flexible, colorful interiors over the next
five to 10 years, analysts say.
Pittsburgh-Post
Gazette >
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Survey:
Incentives are Short-Term Fix
A
survey of U.S. vehicle owners released today
indicates that while this summer's employee
discounts may give automakers short-term sales
gains, improving quality is more important in the
long run.
Associated
Press >
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Nationwide
Gas Prices Set Another Record
Retail
gas prices hit another record high over the past
three weeks, mirroring a rapid increase in the cost
of crude oil, according to a nationwide survey
released Sunday.
USA
Today >
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Lower
Volumes Can Mean High Profits for Carmakers
Blockbuster
sales of the Chrysler 300 and Ford Mustang help ring
up profits for automakers, but the new car and truck
market is fragmenting into a greater number of
vehicles sold at lower volumes -- 50,000 units a
year or fewer.
The
Detroit News >
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Retail
Sales Surge 1.8% on Car Sales
U.S.
retail sales surged 1.8% last month as buyer
incentives led to the biggest gain in auto sales
since just after the Sept. 11, 2001, attacks, when
carmakers put in place zero percent financing deals,
a government report showed Thursday.
USA
Today >
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Bush
Signs Energy Bill
President
Bush signed the first national energy legislation in
more than a decade on Monday, hailing the measure as
a smart way to make Americans more secure and less
dependent on foreign oil.
Washington
Post >
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Nissan's
on Board with U.S. Hybrid Fad
When
the subject of hybrid vehicles comes up, the two
names most often associated with the dual-engine,
gas-electric vehicles are Honda and Toyota.
Fort
Wayne Texas Gazette >
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Economy
to Cruise at Speed Limit Through 2006
The
U.S. economy experienced solid growth in 2004, with
light-vehicle sales rising to 16.8 million units.
What can we expect in 2005 and 2006?
Chicago
Fed Letter >
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July
is Best Month Ever for Auto Sales
U.S.
car and truck sales jumped to a record last month,
buoyed by a powerful consumer response to employee
discount offers that boosted sales 16 percent to 1.8
million vehicles.
Detroit
News >
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Groups
Applaud Auto Safety Provisions in Highway Bill
Auto
safety groups said Friday a highway and transit bill
approved by Congress would help deter drunken
driving, encourage states to pass primary seat belt
laws and lead to safer vehicles.
Associated
Press >
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GM
Shifts from Discount Plan to Lower Sticker Prices
After
two months of brisk sales, General Motors Corp. will
end its popular employee-discount program on Monday
and try to wean customers from incentives as its
2006 models hit showrooms.
Associated
Press >
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Auto
Sales Expected to Hit Four-Year High
July
auto sales could be the highest the country has seen
since October 2001, when U.S. automakers began
offering zero-percent financing in response to the
Sept. 11 terrorist attacks, Merrill Lynch analyst
John Casesa said this week in a note to investors.
Associated
Press >
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BMW's
Tom Purves to Deliver Keynote Speech at NADA's 2006
Convention
Featured
speakers also include Gen. Colin Powell, Frank
Abagnale
Tom
Purves, chairman and CEO of BMW U.S. Holding
Corporation, will be the keynote speaker at the
NADA's 89th Annual Convention and Exposition, in
Orlando, February 11-14, 2006.
NADA
Newswire >
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Market
for Used Cars Hit by Discounts
The
North American used-car market has been hit by the
three Detroit-based carmakers' success in boosting
sales of new vehicles by extending employee
discounts to all buyers.
Financial
Times >
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Ford
Braces for More Cutbacks
Ford
Motor Co. said Tuesday that it lost nearly $1
billion in North America in the second quarter and
plans another round of cost cutting to reduce excess
manufacturing capacity.
The
Detroit News >
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Profits
Down 19% at Ford
Ford
Motor Co., hurt by a wide loss in its core North
American automotive business, posted a 19 percent
drop in second-quarter profits.
Detroit
News >
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Registration
to Open for NADA's 2006 Convention
Online
advance registration for the 2006 NADA Convention
and Exposition in Orlando, February 11-14, 2006,
will open Wednesday, July 20.
NADA
Newswire >
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