Credit tops agenda for NADA chief

SAN DIEGO — The National Automobile Dealers Association, at a meeting here last week, elected Iowa dealer John McEleney chairman for 2009.

McEleney, owner of McEleney Autocenter Inc. in Clinton, Iowa, and McEleney Autoplex Inc. in Iowa City, says his top priority will be reassuring shoppers that they can obtain credit through dealerships.

McEleney, who will represent the nation's 20,000 new-car and -truck dealers starting in January, is now NADA's vice chairman.

Lear plans more cuts

DETROIT — Seat maker and electronics supplier Lear Corp. plans an additional $150 million in cost cuts in the next year.

Hurt by slumping North American sales and a deteriorating vehicle market in Europe, Lear said last week that it would cut staff, consolidate its supply base, reduce program development costs and make other moves to save money.

GM boosts rebates

DETROIT — General Motors has added incentives of $1,000 to $2,000 for buyers who already qualify for company discounts.

The rebates run through Nov. 3 on certain 2008 and 2009 models.

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