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NADA End-of-Day Automotive News Recap


October 10, 2010:

VW Chooses American President for VW America; Scott Keogh, who has led Audi to almost nine years of monthly U.S. sales gains, will become the first American in 25 years to lead Volkswagen in his home country. The 49-year-old native New Yorker takes over on Nov. 1 as chief executive officer of Volkswagen Group of America and as head of the VW brand for North America. Source: Bloomberg

Ally Financial had the highest auto loan market share in the second quarter, according to Experian, driven primarily by increases in the company's used-vehicle loan portfolio. Capital One Auto Finance and Toyota Financial Services rounded out the top three. Source: Automotive News

U.S. stocks tumbled the most since April as fresh concern about the impact of the trade war with China roiled technology and industrial shares. Treasuries rose with the yen demand for haven assets. The S&P 500 fell to the lowest in almost two months, the Dow Jones Industrial Average plunged as much as 640 points and the Nasdaq 100 Index tumbled more than 3 percent in a broad selloff in U.S. equities. Source: Bloomberg