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Automotive Industry News for 7/3/2009
Asian Auto Brands Saw June U.S. Sales Drop Farther Than Predicted
Toyota recorded a 31.9 percent U.S. sales decline for June, more than predicted and more than most other major automakers, though still the 2nd-largest U.S. automaker by sales volume. Prius hybrid was the one shining star as most consumers await "Cash For Clunkers" program before buying.
Tight Consumer Demand & Credit Access Contribute to June Sales Rate
U.S. consumers purchased a little under 860,000 units in June, down 27.7% from year ago. Sales declined 41.9% for Chrysler, 33.4% for GM, 31.9% for Toyota, 29.5% for Honda, 21.3% for Nissan and 10.7% for Ford -- making Ford a winner among losers last month.
Toyota’s Sole Proprietorship at NUMMI Plant Happens at Bad Time
Historically, the NUMMI joint venture between GM and Toyota has been successful for 25 years. As GM pulls out, Toyota will have major decisions to face, including how to get union workers to take concessions -- something it has not been faced with at its other U.S. plants.
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Upcoming Industry Events
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Michael Briggs
VP of Transportation
OPENLANE
OPENLANE, Inc. has promoted Michael Briggs to Vice President of Transportation. Briggs has been instrumental to the success of OPENLANE's transportation services and is responsible for continually improving upon the transport process for consignors and dealers across North America. Since coming to OPENLANE through the company's acquisition of CarsArrive Network in 2007, Briggs has made transportation an integral and widely-used online service among consignors and dealers, and one that is highly valued for its efficiency and cost-savings when buying and selling used vehicles.
More People in the Industry
VP of Transportation
OPENLANE
OPENLANE, Inc. has promoted Michael Briggs to Vice President of Transportation. Briggs has been instrumental to the success of OPENLANE's transportation services and is responsible for continually improving upon the transport process for consignors and dealers across North America. Since coming to OPENLANE through the company's acquisition of CarsArrive Network in 2007, Briggs has made transportation an integral and widely-used online service among consignors and dealers, and one that is highly valued for its efficiency and cost-savings when buying and selling used vehicles.
Follow The Leaders
Follow the Leader Interview
Click for More LeadersDaniel Farrar, CEO, OPENLANE
One certain thing in these uncertain times: used vehicle sales are faring far better than new vehicle sales. Mr. Farrar explains how OPENLANE has positioned itself in this lucrative space by ensuring that dealers are able to continually increase efficiency of operations and boost profits.
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Featured Press Release
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Significant Statistics
Diesel Prices in U.S. Now Much Higher
Source: Gasoline and Diesel Fuel Update, 6/22/2009
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Market Research
During tough times, more marketers are adopting digital marketing techniques, says eMarketer. Over 90% polled would increase or maintain spending on e-mail advertising.
Studies & Reports
In May, the used vehicle market depreciated just 0.4 percent overall. Hybrid vehicles, subcompacts, and compact crossovers continue depreciate most, even as gas prices inch up.
Test Drives & Rides
The Lexus GS is dynamic, yet free of gimmicks. It combines precision with lavish, luxurious appointments and delivers a high standard of automotive performance.
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Industry White Papers
"Calculating Transactional Loyalty"
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How-To by the Experts
"Buying Dealership Insurance"
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