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Inside this issue
NADA 100 Carnival to Kick Off 2017 Convention in New Orleans
U.S. Auto Sales This Year to Fall Short of 2015 Record, LMC Says
TransUnion: Consumers Less Likely to Complete Longer-Term Loans
VW Said to Weigh Battery Partnership
Fiat Chrysler Offers $1,500 to Find Vehicles’ Cyber Soft Spots
GM North America Output at Risk by Supplier Bankruptcy
Nissan Debuts ProPILOT Auto Drive System but Warns on Safety
Top Stories
NADA 100 Carnival to Kick Off 2017 Convention in New Orleans

Online registration for NADA Convention opens July 25

The National Automobile Dealers Association (1917-2017) will kick off yearlong events commemorating its 100-year anniversary beginning with the NADA 100 Carnival at the 2017 NADA Convention & Expo in New Orleans.



The NADA 100 Carnival – an exclusive event for NADA and American Truck Dealers members, international affiliates and guests – will be held at Mardi Gras World from 7 pm to 10 pm on Thursday, January 26. The Carnival will feature cuisine from top New Orleans restaurants, as well as entertainment from the headlining band Foreigner, Cowboy Mouth and local jazz musicians.

Online registration and hotel selection for the NADA convention open on Monday, July 25. NADA members and their managers who register by September 9 will receive a $100 discount from the onsite rate. The member dealer and manager registration fee includes admission to the NADA 100 Carnival, and convention badges must be presented at entry. A limited number of tickets will be available for purchase by non-member dealers and managers. Allied industry attendees are not eligible to purchase a ticket to the NADA 100 Carnival. Shuttle buses will be provided to and from Mardi Gras World and the official NADA hotels.  

The four-day NADA Convention, which runs from Thursday, January 26, to Sunday, January 29, will be held at the Ernest N. Morial Convention Center and is considered the auto industry event of the year. The convention includes dealer franchise meetings, workshops, keynote speakers, an expo and numerous networking events. To register or for more information, visit www.nadaconvention.org.
Source: NADA

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U.S. Auto Sales This Year to Fall Short of 2015 Record, LMC Says

U.S. sales of cars and light trucks this year will fall short of 2015’s record in the first annual decline in seven years, LMC Automotive said in a revised estimate that cites “recent plateauing” of deliveries and “growing economic and political risk.” The research firm cut its outlook to 17.4 million vehicles from 17.7 million in a report released Tuesday. The new estimate is about 40,000 fewer than last year’s record, LMC said. The firm also reduced its annual projections for each year through 2023.
Source: Bloomberg

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TransUnion: Consumers Less Likely to Complete Longer-Term Loans

Jason Laky, senior vice president and automotive business leader for TransUnion, explained that there are generally two reasons why consumers would want to take on a longer-term vehicle installment contract. One reason can be a positive for a finance company; the other motive perhaps not so much. “One is that they plan to hold onto the car for a longer period of time so the term of the loan matches the useful life of the vehicle. And that’s a good thing,” Laky said.
Source: Auto Remarketing

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VW Said to Weigh Battery Partnership

Volkswagen AG is considering teaming up with electric-car battery specialists such as LG Chem Ltd. or Panasonic Corp. as it overhauls its strategy to emerge from the diesel-emissions scandal, according to people familiar with the matter. The carmaker’s supervisory board also discussed investing 1.7 billion euros ($1.89 billion) to 2 billion euros per factory at several sites around the world, said the people, who asked not to be identified because the talks are confidential. Concrete decisions are expected by the end of the year, they said.
Source: Bloomberg

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Fiat Chrysler Offers $1,500 to Find Vehicles’ Cyber Soft Spots

Fiat Chrysler Automobiles NV is offering as much as $1,500 to good-guy hackers who find potential bugs and vulnerabilities in its vehicle software, in a program managed by a crowd-sourced cybersecurity company. The automaker’s FCA US unit is working with Bugcrowd, which taps a network of 32,000 researchers worldwide. Those who identify possible security threats will get cash awards of $150 to $1,500, depending on the severity of the vulnerability and the scope of the those affected, Fiat Chrysler said in a statement Wednesday.
Source: Bloomberg

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GM North America Output at Risk by Supplier Bankruptcy

A longtime General Motors supplier has filed for bankruptcy and repercussions could wreak havoc on the automaker’s North American production. Clark-Cutler-McDermott Co. filed for Chapter 11 bankruptcy protection on Thursday, July 7, after GM filed a motion to acquire dedicated equipment, GM tooling and certain inventory. CCM is seeking approval to reject its contracts with GM and sell off assets.
Source: Automotive News

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Nissan Debuts ProPILOT Auto Drive System but Warns on Safety

Nissan Motor Co. has unveiled a new technology that allows nearly hands-free highway cruising as its next step toward self-driving cars. Nissan’s new technology, dubbed ProPILOT, will be deployed first in a redesigned Serena family van scheduled to go on sale in Japan in late August, the company said today in a statement. ProPILOT will be offered in the Qashqai crossover in Europe next year. Vehicles in the U.S. and China will get the technology later. Nissan didn’t give a timeline for those introductions.
Source: Automotive News

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              Quotable
              "Even if you run it at a good clip -- 17.5 plus for the remainder of the year -- you kind of get to where we’re at forecast-wise, which just falls short of the record in 2015." 

                 --- Jeff Schuster, LMC’s senior vice president of forecasting, commenting on U.S. auto sales, Bloomberg, July 12

               

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