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November 4, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
U.S., 35 States to Boost Electric Vehicle Charging Network
Report: Takata Readying Possible Bankruptcy Filing
Fiat Chrysler Dials Down Rental-Car Sales in Echo of GM Play
BMW Profitability Squeezed by Slide in U.S. Sales
Car Dealer Business Hurt in Battleground States
Top Stories
U.S., 35 States to Boost Electric Vehicle Charging Network

The White House said on Thursday it will establish 48 national electric-vehicle (EV) charging networks on nearly 25,000 miles of highways in 35 U.S. states. The Obama administration said 28 states, utilities and vehicle manufactures, including General Motors Co., BMW AG and Nissan Motor Co., and EV charging firms have also agreed to work together to jump-start additional charging stations on the corridors. The corridors were required to be established by December under a 2015 highway law.
Source: Reuters

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Report: Takata Readying Possible Bankruptcy Filing

Japanese auto supplier Takata is reportedly readying a potential bankruptcy filing after a crushing scandal that sapped its finances, triggered the largest automotive recall in U.S. history and spawned fines and investigations. Takata's exploding air bag scandal has cast a cloud of uncertainty over the company, whose Michigan-based subsidiary TK Holdings is said to be weighing a Chapter 11 bankruptcy filing, according to Japanese newspaper Nikkei.
Source: USA Today

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Fiat Chrysler Dials Down Rental-Car Sales in Echo of GM Play

Fiat Chrysler Automobiles NV is cutting back on discounted, lower-margin sales to fleet customers in the U.S., following General Motors Co. in a strategy that helped the larger rival post record third-quarter profit. Fiat Chrysler trimmed fleet deliveries 23 percent in October, as the automaker’s total sales fell 11 percent, Ralph Kisiel, a spokesman at the company’s Auburn Hills, Michigan-based unit, said in an e-mail. He said the results reflect a strategy of reducing sales to daily-rental companies.
Source: Bloomberg

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BMW Profitability Squeezed by Slide in U.S. Sales

German car maker offset a sharp decline in the U.S. to boost earnings

BMW AG reported higher profit in the third quarter even though a decline in sales in the U.S. and increased investment in electric vehicles and other technology eroded earnings at its automotive division. The Munich-based premium auto car maker, along with rivals Daimler AG and Audi AG, is benefiting from the strong recovery in Europe’s car markets and renewed demand in China, fueling appetite for luxury sport-utility vehicles. A peak in demand in the U.S. has tempered sales growth overall, but BMW in particular is paying the price for failing to the shift in the American market back to SUVs.
Source: The Wall Street Journal

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Car Dealer Business Hurt in Battleground States

Car dealers in certain states may wish the Nov. 8 election would end already. That’s because a Dealer.com analysis indicates digital car-shopping is off in so-called battleground states, those in which no single candidate or party has overwhelming support as voters prepare to go to the polls Tuesday. Identified through vehicle-detail-page views from Dealer.com’s dealership client network, shopping behavior was down in September 9% year-over-year in Colorado, Florida, Iowa, Michigan, Nevada, New Hampshire, North Carolina, Ohio, Pennsylvania, Virginia and Wisconsin.
Source: WardsAuto

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Past Articles
       
      Quotable
      "Not relying on fleet is not only financially healthy, but it also helps to bring to light the right product decisions for true demand. It improves residuals and brand value."

          -- Jeff Schuster, an analyst with LMC Automotive, commenting on Fiat Chrysler's plan to cut back on fleet sales, Bloomberg, Nov. 3

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