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January 13, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
NADA Urges Trump Administration to Reverse Obama EPA’s Final Determination on Fuel Economy
EPA Accuses Fiat Chrysler of Cheating Emissions Laws
Takata to Pay $1 Billion to Settle U.S. Air Bag Probe
VW Managers Safe From Extradition, as Long as They Stay Home
Greater Consumer Confidence Lifts Retail Sales; Producer Prices Up on Gas, Food
Mark Fields Joins NADA Convention Speaker Lineup in New Orleans
Top Stories
NADA Urges Trump Administration to Reverse Obama EPA’s Final Determination on Fuel Economy

NADA President and CEO Peter Welch on Friday issued the following statement in response to the Obama Administration’s issuance of a final midterm evaluation of light-duty greenhouse gas standards for model years 2022-2025:

“The Obama Administration today just made new cars and trucks thousands of dollars more expensive for America’s working men and women. Expensive and unaffordable new cars will drive Americans into less efficient, less clean and less safe used cars – undermining the very goals of this policy. We urge the incoming Trump Administration to withdraw today’s action, and we look forward to working with the new Administration to ensure that working families can choose the cleaner, safer new cars and trucks they need at prices they can afford.”
Source: NADA

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EPA Accuses Fiat Chrysler of Cheating Emissions Laws

U.S. regulators accused Fiat Chrysler Automobiles of violating emissions standards in more than 100,000 diesel vehicles, spawning concerns that the company could become ensnared in a scandal like the one that engulfed Volkswagen Group. The Environmental Protection Agency said Thursday that Fiat Chrysler illegally installed software on about 104,000 pickups and sport-utility vehicles that spewed harmful pollutants while failing to disclose the technology. The allegations involve the 2014, 2015 and 2016 Jeep Grand Cherokee and light-duty Ram 1500 pickup trucks with 3-liter diesel engines.
Source: USA Today

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Takata to Pay $1 Billion to Settle U.S. Air Bag Probe

Japan's Takata Corp. is expected to plead guilty to criminal wrongdoing as early as Friday as part of a $1 billion settlement with the U.S. Justice Department over its handling of air bag ruptures linked to 16 deaths worldwide, sources said. The settlement includes a $25 million criminal fine, $125 million in victim compensation and $850 million to compensate automakers who have suffered losses from massive recalls, the sources said. The settlement also calls for an independent monitor of the Japanese auto parts manufacturer.
Source: Reuters

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VW Managers Safe From Extradition, as Long as They Stay Home

Five German Volkswagen AG executives facing U.S. charges linked to the diesel-emissions scandal may be able to avoid jail, but they may never be able to travel beyond the Black Forest again. While Germany doesn’t extradite its citizens to countries outside the European Union, the U.S. can seek an international arrest warrant that would be executed if any of the men left the country. That’s the dilemma now facing Heinz-Jakob Neusser, Richard Dorenkamp, Bernd Gottweis and two others, who were charged Wednesday in a court in Michigan.
Source: Bloomberg

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Greater Consumer Confidence Lifts Retail Sales; Producer Prices Up on Gas, Food

Americans stepped up their auto buying and holiday shopping in December, reflecting a boost in confidence after the election and a solid increase in hourly pay. The Commerce Department says retail sales rose a seasonally adjusted 0.6%, following a small 0.2% gain in November. Auto sales jumped 2.4% in December, the biggest gain since April.
Source: The Associated Press

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Mark Fields Joins NADA Convention Speaker Lineup in New Orleans


Mark Fields, president and CEO of Ford Motor Company, will sit down with NADA Chairman Jeff Carlson for a fireside chat during the opening general session of the 2017 NADA Convention and Expo in New Orleans on Friday, January 27. Other speakers at the NADA convention – which runs from Thursday, January 26, to Sunday, January 29 – include Carlson and NADA Vice Chairman Mark Scarpelli, motorsports legends Roger Penske and Helio Castroneves, New York Times best-selling authors, comedian Jim Gaffigan and inspirational speaker Amy Purdy.

NADA, founded in 1917, will kick off yearlong events commemorating its 100-year anniversary with NADA 100 Carnival, which will be held at Mardi Gras World on Thursday, January 26. The Carnival will feature top New Orleans cuisine and musical entertainment from Foreigner, Cowboy Mouth and jazz favorites. For more information or to register, visit www.nadaconvention.org.   
Source: NADA

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Past Articles
       
      Quotable
      "Expensive and unaffordable new cars will drive Americans into less efficient, less clean and less safe used cars – undermining the very goals of this policy."

          -- NADA President and CEO Peter Welch, in response to the Obama Administration’s issuance of a final midterm evaluation of light-duty greenhouse gas standards for model years 2022-2025, NADA Headlines, Jan. 13

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