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October 17, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Fight for Congress Puts Auto Agenda in Play
Oct. 20 Webinar: Proposed IRS Regulations Seek to Limit Valuation Discounts
CEO Mark Fields Sets Ford on a Dual Track
VW Fix for Some Cheating Diesels Could Be Approved Soon
Chevy Hopes to Win VW Customers with New Diesels
One Day, Cars Will Connect With Your Fridge and Your Heartbeat
Top Stories
Fight for Congress Puts Auto Agenda in Play

In the coming years, lawmakers on Capitol Hill will weigh in on the midterm evaluation of the Obama administration's signature 2025 fuel economy regulations and whether auto safety regulations need new fundamental changes to ensure the safe deployment of autonomous vehicles. Together, those two issues represent billions of dollars in industry spending over the next decade, underscoring the stakes for the industry when the mix of red and blue on Capitol Hill is decided on Nov. 8.
Source: Automotive News

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Upcoming Webinar
Oct. 20 Webinar: Proposed IRS Regulations Seek to Limit Valuation Discounts

The IRS in August 2016 issued proposed regulations under IRC section 2704 that are intended to disallow or significantly curtail many valuation discounts used in estate planning.  

As part of the NADA/ATD Webinar Series, Marvin Hills and Stuart McCallum from Crowe Horwath, LLP, will present the 60-minute webinar, "Proposed IRS Regulations Seek to Limit Valuation Discounts," at 1 p.m. ET on Thursday, Oct. 20, 2016.  

They will discuss the impact of the new regulations on valuation reports and on intra-family transfers of dealership stock, as well as explore actions to consider (with assistance from legal advisors) to take full advantage of discounts available under the current law and estate planning strategies available after the regulations take effect. Click here to register.
Source: NADA

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CEO Mark Fields Sets Ford on a Dual Track

Alongside core auto business, company eyes role as transportation-services provider

For the better part of a decade, “One Ford” served as the battle cry of the No. 2 U.S. auto maker. The slogan, coined by former Chief Executive Alan Mulally, was shorthand for the painful downsizing and management overhauls that helped Ford Motor Co. avoid bankruptcy and return to big profits. Now, as the auto industry braces for the rise of electric and self-driving vehicles, Mr. Mulally’s successor, Mark Fields, is pivoting toward Two Fords, recasting the company as an auto maker and a transportation-services provider.
Source: The Wall Street Journal

Related article:

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VW Fix for Some Cheating Diesels Could Be Approved Soon

Repairs that would fix about 15 percent of Volkswagen's cheating 2-liter diesel engines could be approved by regulators in the next few weeks. Volkswagen submitted plans in early August to repair about 67,000 cars from the 2015 model year. The Environmental Protection Agency says it won't act on the plans until after a federal judge approves an order settling lawsuits against the German automaker. That could come at a court hearing Tuesday in San Francisco. Under the settlement, VW must submit plans to fix the rest of the 475,000 diesels in November and December.
Source: The Associated Press

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Chevy Hopes to Win VW Customers with New Diesels

General Motors Co. is hoping to attract disaffected Volkswagen AG diesel customers with a new turbodiesel version of its 2018 Chevrolet Equinox crossover and diesel versions of its Chevrolet Cruze and new Cruze Hatchback. The Detroit automaker’s bet on diesel comes, though, as sales have slowed in the U.S. due to Volkswagen’s costly exhaust emissions cheating scandal, now one year old.
Source: The Detroit News

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One Day, Cars Will Connect With Your Fridge and Your Heartbeat

When Bruce Wayne rolled up to his Bat Cave, a roadblock dropped automatically, the camouflaged garage door swung open, the lights flickered on and Alfred was already standing by. It has been 50 years since that vision of Batman in his tricked-out Lincoln Futura appeared on TV. But now automakers, communications companies and technology companies want to turn every car into an interconnected Batmobile. “The car is going to become another node in the internet of things,” said Kamyar Moinzadeh, chief executive of Airbiquity, a Seattle software and engineering company specializing in vehicle tracking and telematics.
Source: The New York Times

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Past Articles
      "We are at a really consequential time in terms of policy."

          -- Mitch Bainwol, CEO of the Alliance of Automobile Manufacturers trade group, whose members include the Detroit 3, Toyota, Daimler, BMW and Volkswagen, commenting on the upcoming election, Automotive News, Oct. 17

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