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November 30, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Trump to Nominate Elaine Chao for Transportation Post
Toyota Chief Shifts Gear, to Boost Electric Vehicle Division
GMs Ready to Lose $9,000 a Pop and Chase the Electric Car Boom
U.S. Judge Delays Court Hearing on Volkswagen 3.0 Liter Diesels
Carmakers Sustain Sales With Big Discounts and the Occasional TV
The Five Best Times to Buy a Car (Including Now)
Top Stories
Trump to Nominate Elaine Chao for Transportation Post

President-elect Donald Trump intends to nominate former U.S. Labor Secretary Elaine Chao to be Secretary of Transportation, his transition team said Tuesday. Chao, 63, was the first Asian-American woman to hold a Cabinet position when she served as Labor Secretary from 2001 through 2009 under President George W. Bush. She previously was the Transportation Department’s deputy secretary under President George H.W. Bush.

"Elaine Chao is an excellent choice to lead the U.S. Department of Transportation, and we commend President-elect Donald Trump for nominating someone who will be able to hit the ground running on Day One," NADA President Peter Welch said in a statement.

“Access to affordable personal mobility is what drives America’s economy, which is exactly why NADA has urged Washington to steer clear of policies that will only add to the cost of buying, financing, servicing and trading-in a vehicle. The next Secretary of Transportation will play a critical role in determining whether we keep automotive retailing affordable for millions of Americans, and NADA is very much looking forward to working with Secretary Chao to make sure we do just that."
Source: Automotive News

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Toyota Chief Shifts Gear, to Boost Electric Vehicle Division

Toyota Motor Corp. on Wednesday appointed its president to lead their newly formed electric car division, flagging its commitment to develop a technology that the automaker has been slow to embrace. The change comes as the United States, China and European countries are encouraging automakers to make more all-electric battery cars as they push alternative energy strategies. Akio Toyoda, grandson of the company's founder Kiichiro Toyoda, has been at the helm of the world's largest automaker since 2009. He will head the company's electric vehicle (EV) planning department along with Executive Vice Presidents Mitsuhisa Kato and Shigeki Terashi.
Source: Reuters

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GMs Ready to Lose $9,000 a Pop and Chase the Electric Car Boom

General Motors Co. stands to lose as much as $9,000 on every Chevrolet Bolt that leaves a showroom once the all-electric subcompact starts rolling out. Sounds crazy, but the damage makes perfect business sense under the no pain, no gain policy driving the electric-vehicle boom in the U.S. California crafted the doctrine, with tough clean-air rules and a mandate that automakers sell some non-polluting vehicles if they want to do business in the Golden State. Nine others have adopted it, New York and New Jersey among them, and all told they make up close to 30 percent of the U.S. market.
Source: Bloomberg

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U.S. Judge Delays Court Hearing on Volkswagen 3.0 Liter Diesels

U.S. District Judge Charles Breyer on Tuesday delayed a court hearing set for Wednesday on Volkswagen AG's plan to address 80,000 polluting Audi, Porsche and VW 3.0-liter vehicles. In a court filing on Tuesday, Breyer said negotiations are continuing between the German automaker, regulators and lawyers representing owners and set a Dec. 16 hearing, saying he had been advised that a delay "may produce a resolution of the outstanding issues."
Source: Reuters

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Carmakers Sustain Sales With Big Discounts and the Occasional TV

Deep dealmaking wrapped in a holiday bow brought U.S. carbuyers back into showrooms in late November, saving a month whose first half was dominated by a nasty political campaign. “Fifty percent of the people were convinced the world was going to end no matter what happened” with the presidential election, said Sean Sellers, general manager of Charles Gabus Ford in Des Moines, Iowa. “It took some of those people out of the market” at the start of the month. Total light-vehicle sales probably rose about 3.8 percent in November, according to the average estimates of analysts surveyed by Bloomberg.
Source: Bloomberg

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The Five Best Times to Buy a Car (Including Now)

New model rollouts, carmakers’ redesign schedules and other events can uncover bargains for those who can read the tea leaves of the auto market.

That chill in the air signals not only autumn and the approach of holiday season but also a cooling trend in auto sales. For bargain hunters, this could be a great time to get a good deal on a new car. Current bargains are available in compact sedans and luxury vehicle segments, while pickup trucks and SUVs still are commanding higher prices, says Steven Szakaly, chief economist for the National Automobile Dealers Association.
Source: NerdWallet

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Past Articles
       
      Quotable
      "Elaine Chao is an excellent choice to lead the U.S. Department of Transportation, and we commend President-elect Donald Trump for nominating someone who will be able to hit the ground running on Day One."

          -- NADA President Peter Welch, Automotive News, Nov. 29
       
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