Automotive Update 9/30/08

The Associated Press reports that Bill Heard, the largest volume Chevy dealer in the United States, was closing its doors. Some of the dealership locations will reopen under new ownership while others are expected to shutter their lots for good. The Heard chain consisted of 13 dealerships at the time of the announcement. GM has already reduced its total dealership count by over 200 so far in 2008 with a goal of 400 by the end of the year.

Elsewhere in the GM world, the automaker may have approval for its Volt to become the first vehicle produced with a 100-mpg rating, opening the flood gates for hyper-fuel-efficient hybrids. Volkswagen's clean diesel Jetta TDI is currently leading the race at 58.82 mpg.

CSM Worldwide anticipates the slump in truck sales will continue through the year 2010 after bottoming out at 1.7 million units according to a review of the findings by Automotive News.

AutoTrader.com reports that a quarter of automotive dealers are getting into the viral video market, using online video to attract attention and sales leads.

The U.S. government is granting a $25 billion loan to the auto industry, but the question of timing remains. Some estimates place the arrival of those funds at 18 months in the future, a point which may not be satisfactory for those trying to help the automakers more rapidly. The stipulations on the loan and other details are still being sorted out, but the loan may be used to advance the hybridization of America's automobile fleet. Read more here.

Finally, for those interested, Automotive News will be hosting a free Webinar on October 15, 2008, at noon Eastern with the title "Accountable Advertising on the Internet." The registration page can be found here.