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Inside this issue
Takata Looks at Restructuring After Posting Loss on Recall Costs
GM Executive Credits Silicon Valley for Accelerating Development of Self-Driving Cars
GM Seeks to Grow EVs, Adds to Lineup of 40-MPG Cars
Manheim Expands Vehicle Inspections to Meet Selling Dealers' Needs
Toyota's Net Income Falls 4% on Lower Sales, Higher Costs and Currency Losses
NADA Accepting 2017 Convention Workshop Proposals
Top Stories
Takata Looks at Restructuring After Posting Loss on Recall Costs

Takata Corp. [Wednesday] said it was considering a drastic review of its inflator division and the sale of non-core businesses -- its first restructuring steps since becoming embroiled in a global recall crisis over potentially deadly airbags. The announcement came as the supplier booked its third annual loss in four years on an increase in recall costs. It forecast a return to profit this financial year but said recall costs had not been factored in as the root cause of the defect has not been determined.
Source: Reuters

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GM Executive Credits Silicon Valley for Accelerating Development of Self-Driving Cars

Head of GM’s foresight and trends unit says timetable for autonomous vehicles likely moved from 2035 to 2020, if not sooner

A General Motors Co. executive credited Silicon Valley companies, including Alphabet Inc.’s Google car division and Tesla Motors Inc., for accelerating the development of autonomous vehicle technology and shortening the timetable for when safer self-driving cars hit the road.
Source: The Wall Street Journal

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GM Seeks to Grow EVs, Adds to Lineup of 40-MPG Cars

General Motors Co. said it remains committed to bringing alternative propulsion vehicles to market and growing consumer acceptance of electric vehicles, even as it doesn’t expect to reach its goal to have half a million electrified vehicles on U.S. roads by next year. The carmaker, meanwhile, in its 2015 Sustainability Report released Tuesday said it is ahead of its goal to double the number of U.S. vehicles that generate 40 miles per gallon or more highway fuel economy by 2017.
Source: The Detroit News

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Manheim Expands Vehicle Inspections to Meet Selling Dealers' Needs

Manheim is expanding its vehicle inspection services -- and testing enhancements to those services -- to accommodate the growing number of dealers who want condition reports on vehicles they buy and sell at auction, the company said. Shane O’Dell, senior vice president, Manheim Vehicle Solutions, said Manheim, in partnership with Alliance Inspection Management, expects to conduct more than 4.2 million vehicle inspections this year, up from 3.5 million in 2015. Some of the increase will be in inspections done on trade-ins at a dealership rather than after they arrive at an auction site, or what the industry calls “outside the gate” inspections.
Source: Automotive News

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Toyota's Net Income Falls 4% on Lower Sales, Higher Costs and Currency Losses

Falling vehicle sales, rising costs and foreign exchange rate losses pushed profits lower at Toyota Motor Corp. in the latest quarter, even though the slowdown wasn’t enough to derail the carmaker from achieving a third year of record earnings. Toyota notched across-the-board records in revenue, net income and operating profit in the full fiscal year ended March 31. But President Akio Toyoda also warned that profits will tumble sharply in the current fiscal year as the strengthening Japanese yen extinguishes the foreign currency gains that have powered the world’s biggest automaker to ever-better profits.
Source: Automotive News

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NADA Accepting 2017 Convention Workshop Proposals

The deadline to submit a workshop proposal is May 16, 2016.

The workshops are one of the main attractions at the annual NADA Convention and Expo. Nearly 16,200 participants, which included new-car dealers, dealership managers and industry professionals, attended the workshop sessions at the past convention in Las Vegas. Workshop proposals for the 2017 NADA convention, which will be held in New Orleans, can be submitted online until 5 p.m. EDT on May 16, 2016. For detailed instructions on how to submit a workshop proposal, click here.
Source: NADA Dealership Operations

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          Quotable
          "Until we get to all of them, I’m never satisfied. I think progress is being made, but we’ve got to keep our finger on it."

              -- Transportation Secretary Anthony Foxx, commenting on the Takata airbag recall, The Detroit News, May 10

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