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January 9, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Carmakers Stumped by Trump at Detroit Auto Show
Fiat Chrysler Ups the Ante as Automakers Respond to Trump
Trumpís Twitter Warning to Toyota Unsettles Japanese Carmakers
FBI Arrests Volkswagen Exec on Fraud Charges
VP Biden to Visit Detroit During Auto Show
Science Fiction and Reality Converge at the Detroit Auto Show
Top Stories
Carmakers Stumped by Trump at Detroit Auto Show

The panoply of passenger cars and electric vehicles glittering at this year’s Detroit auto show -- at a time when sport utility vehicles are king -- shows just how tough it is for automakers to predict fickle consumer tastes. Divining the future will only get tougher under President Donald Trump. How did the array of star cars here along the frozen Detroit River include the BMW 5 Series sedan and Mercedes-Benz E-Class coupe, plug-in models from Mini and VW, and a newly chiseled Toyota Camry? Keep in mind companies probably committed to these models five years ago when gasoline was $3.60, Barack Obama was setting aggressive fuel-economy rules and Donald Trump was a reality TV host questioning the president’s nationality.
Source: Bloomberg

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Fiat Chrysler Ups the Ante as Automakers Respond to Trump

Fiat Chrysler Automobiles on Sunday said it will invest $1 billion to modernize two plants in the U.S. Midwest and create 2,000 jobs, upping the ante as automakers respond to threats from President-elect Donald Trump to slap new taxes on imported vehicles. FCA's announcement that it would retool factories in Ohio and Michigan to build new Jeep sport utility vehicles, including a pickup truck, and potentially move production of a Ram heavy-duty pickup truck to Michigan from Mexico, also highlighted the auto industry's keen interest in getting relief from tough fuel economy rules enacted by the outgoing Obama administration.
Source: Reuters

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Trumpís Twitter Warning to Toyota Unsettles Japanese Carmakers

Donald J. Trump sent shivers across the Japanese auto industry on Friday after warning Toyota on Twitter that he would impose a “big border tax” on the company if it built a new plant in Mexico. It appeared to be the first time he had taken on a foreign company for plans that did not directly involve the United States. The effects were immediate: Shares in Toyota and other carmakers fell in trading on the Tokyo Stock Exchange on Friday. And Japanese government officials hustled to respond to the rhetoric with soothing reminders of the jobs that the country’s auto manufacturers had created in the United States.
Source: The New York Times

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FBI Arrests Volkswagen Exec on Fraud Charges

The Federal Bureau of Investigation has arrested a Volkswagen AG executive on charges of conspiracy to defraud the United States, the New York Times reported on Monday. Oliver Schmidt, who headed the company's regulatory compliance office in the U.S. from 2014 to March 2015, was arrested on Saturday by federal investigators in Florida, the newspaper said, citing people familiar with the matter. VW admitted in September 2015 to installing secret software known as "defeat devices" in 475,000 U.S. 2.0-liter diesel cars to cheat exhaust emissions tests and make them appear cleaner in testing. In reality, the vehicles emitted up to 40 times the legally allowable pollution levels.
Source: Reuters

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VP Biden to Visit Detroit During Auto Show

Vice President Joe Biden will travel to Detroit during the 2017 North American International Auto Show, the White House said Friday. Biden is attending an event hosted by Detroit Mayor Mike Duggan on Monday and he will also deliver remarks at an event for Motor City Match, which is a program that is designed to connect new and expanding businesses with real estate in Detroit. The visit, which will be Biden’s Detroit swan song, will give the vice president the opportunity to attend the Detroit auto show.
Source: The Detroit News

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Science Fiction and Reality Converge at the Detroit Auto Show

As many as 800,000 potential customers are expected to stream through the turnstiles at Detroit's Cobo Center in the coming weeks for a chance to look at the dozens of new vehicles making their debut at the 2017 North American International Auto Show, or NAIAS. They'll also get a look at how science fiction and everyday reality are starting to converge. Among the estimated 40 new cars, trucks, and crossovers expected to make their debut during a three-day media preview starting this Sunday, will be an assortment of concept vehicles featuring such breakthroughs as long-range electric powertrains, autonomous driving technology, even a few with onboard personal assistants.
Source: NBCnews.com

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