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October 25, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
General Motors Third-Quarter Earnings Widely Beat Expectations
Fiat Chrysler Q3 Adjusted Earnings Rise 29 Percent, Recall Costs Weigh
NHTSA Issues Nonbinding Guidance on Auto Cybersecurity
Bill Ford Says Future of Cars is in Detroit, Not Silicon Valley
Video: Buick Cracks List of Top 3 Most Reliable Automakers, Ending 35-Year Losing Streak for American Brands
NADA to Issue New-Vehicle Sales Forecast for 2017
Top Stories
General Motors Third-Quarter Earnings Widely Beat Expectations

General Motors Co. reported much higher-than-expected third-quarter earnings on strong North American truck and SUV sales, blowing past fears that a U.S. market slowdown would dent profitability. GM said on Tuesday that it expected full-year results would be on the "high end" of its previous forecasts of $5.50 to $6.00 a share. Rival Ford Motor Co. in July warned that a slowing U.S. auto market would put its full-year profit forecast at risk. GM's results and its outlook depend primarily on strong U.S. and Chinese economies. The company said it lost money in Europe, South America and in Asian markets outside of China.
Source: Reuters

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Fiat Chrysler Q3 Adjusted Earnings Rise 29 Percent, Recall Costs Weigh

Fiat Chrysler Automobiles today reported a 29 percent rise in third-quarter adjusted operating profit and raised its full-year guidance, but recall costs weighed on the company's results. The world's seventh-largest carmaker said adjusted earnings before interest and tax for the July-September period rose to $1.63 billion. FCA, which generates the lion’s share of its profit in North America, is bracing for slowing growth in the U.S. by adjusting production to higher-margin pickup trucks and SUVs and away from small cars.
Source: Reuters

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NHTSA Issues Nonbinding Guidance on Auto Cybersecurity

The National Highway Traffic Safety Administration released new guidance for how automakers should approach cybersecurity amid growing scrutiny prompted by high-profile vehicle hacks and the spread of car connectivity technologies. NHTSA says cybersecurity should be a top priority of automakers and suppliers that should be formally addressed during the product development process of new vehicles. The agency also says automakers and suppliers should conduct “penetration tests” to seek out potential vulnerabilities. Test results should be documented to describe how weak spots were addressed or the rationale for not addressing vulnerabilities found in testing.
Source: Automotive News

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Bill Ford Says Future of Cars is in Detroit, Not Silicon Valley

Bill Ford is tired of hearing the future of cars belongs to Silicon Valley. Yet for years, the Apple and Google crowd have been telling him that only Big Tech can make driverless vehicles. “There was this presumption that we were too dumb to get it,” said the Ford Motor Co. executive chairman and great-grandson of auto pioneer Henry Ford. “The conversation has really shifted.”
Source: Bloomberg

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Video: Buick Cracks List of Top 3 Most Reliable Automakers, Ending 35-Year Losing Streak for American Brands

After years of foreign automakers dominating the industry's reliability surveys, an American brand has finally joined the ranks of those building the best vehicles: Buick. According to Consumer Reports' latest auto reliability survey, the near-luxury brand from General Motors climbed four slots to rank third, after Lexus and Toyota. It's the first time a domestic brand has finished in the top three in more than 35 years.
Source: CNBC

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NADA / J.D. Power Quarterly Economic Briefing
NADA to Issue New-Vehicle Sales Forecast for 2017

NADA and J.D. Power to hold quarterly economic briefing on auto retailing trends shaping the new and used vehicle markets.

Date:   Tuesday, Nov. 15, 2016
Call-in Time:  11:30 a.m. ET / 8:30 a.m. PT
To Register:  www.nada.org/forecast2017  

Steven Szakaly, NADA chief economist, will issue a sales forecast for new cars and light trucks for 2017, and provide an economic outlook and identify the key economic factors that will shape auto retailing next year. Szakaly, who has predicted sales of 17.7 million new light vehicles for 2016, will also provide a year-in-review.

Jonathan Banks, vice president of vehicle analysis and analytics for J.D. Power, will discuss both new- and used-vehicle market trends and the key economic conditions affecting auto retailing, as well as how the used-vehicle market is performing in the final quarter of 2016, and how leasing and gasoline prices are affecting the industry.

A Q&A session with members of the media and industry will follow the briefing.

To register, visit www.nada.org/forecast2017. Registrants will receive a call-in number and conference ID.
Source: NADA

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Past Articles
       
      Quotable
      "In the constantly changing environment of technology and cybersecurity, no single or static approach is sufficient."

          -- NHTSA Administrator Mark Rosekind, commenting on how automakers should approach cybersecurity, Automotive News, Oct. 24

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